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Navy Federal Military Pay Day

Membership Has Its Perks

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Navy Federal can help you take your banking to the next level with exclusive membership perks and discounts focused on what service members, retirees, and veterans need the most.

ByMeredith Mathis | Published Feb 25, 2022 4:09 PM

With financial security comes some obvious perks saving for a family getaway or a down payment on a home or vehicle. Navy Federal Credit Union puts your needs first by helping you earn and save money on services and products that help you meet your goals. Their impressive membership program caters to the unique needs of active military members, retirees, and veterans at every phase of life. Membership is free, and Navy Federal makes it easy to join so you can start enjoying the benefits right away. Here are our top six perks to Navy Federal membership:

1. Active Duty Checking. personnel as well. Perks of Active Duty Checking include up to $240 in annual ATM fee rebates, no monthly service fees or balance requirements, and free personalized checks. Additionally, all checking accounts with Navy Federal include access to 30,000 ATMs nationwide, monthly dividends, and convenient online banking, which includes mobile deposit right from your phone.

Navy Federal Credit Union is federally insured by the NCUA.

Navy Warrant Officer Basic Pay Rates

This pay table is used to determine the monthly basic pay for warrant officers in the Navy. To determine your pay rate, first choose your paygrade and then find the row that corresponds with your number of years’ experience in the Navy. You can also use our to calculate pay and allowances.

Years of Experience

How To Qualify For A Navy Federal Loan

Navy Federal does not publicly disclose many of its borrower requirements. According to the lender, there is no minimum credit score. Heres what you need for your application:

  • Desired loan amount and term.

  • Current employment details and income.

  • Contact information, including phone number and email address.

  • Personal details of your co-applicant or co-borrower, if applicable.

Loan example: A three-year, $15,000 loan with a 15.5% APR would cost $524 in monthly payments. Youd pay $3,852 in total interest on that loan.

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Should You Consider Opening An Account At Navy Federal Credit Union

Navy Federal Credit Union members enjoy low rates and fees on banking products and loans. They can also earn discounts that can add up to big savings over time, similar to offerings from other .

If you have friends and family who also qualify for membership, you can earn some decent cash by referring them to the credit union. Just make sure that the financial products, loans and banking services meet your needs.

contributed to the reporting for this article.

Information on promotions is accurate as of August 4, 2022. Additional requirements may apply. Offers and terms are subject to change.

Editorial Note: This content is not provided by Navy Federal Credit Union. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Navy Federal Credit Union.

Key Terms To Know About Personal Loans

2020 Navy Federal Military Pay Days in 2020

Annual percentage rate is the interest rate on your loan plus all fees, calculated on an annual basis and expressed as a percentage. Use the to compare loan costs from multiple lenders.

An origination fee is a one-time, upfront fee that some lenders charge for processing a loan. The fee can range from 1% to 10% of the loan amount, and lenders typically deduct it from your loan proceeds.

The debt-to-income ratio divides your total monthly debt payments by your gross monthly income, giving you a percentage. Lenders use DTI along with credit history and other factors to evaluate a borrower’s financial ability to repay a loan.

Lenders that offer pre-qualification typically do so using a soft credit check, which allows you to see rates and terms you qualify for without affecting your credit score. If you accept the loan offer, the lender will perform a hard check to confirm your information. Hard checks knock a few points off your credit score.

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Tracking Your Pay And Benefits:

The military gives service members two forms to track and understand their pay and benefits: Leave The military gives service members two forms to track and understand their pay and benefits: Leave and Earnings Statements and Net Pay Advice . Each form can be viewed or downloaded from your myPay account. You may want to keep a copy of these forms to ensure the accuracy of your pay and benefits.

Here is the information found on these forms:

  • LES: You should find everything you need to know about your pay and benefits on your LES. It includes your end-of-month pay information, such as gross pay, net pay, state and federal taxes paid, , other pay and benefits Pay, Hazardous Duty Incentives Pay, bonuses, etc.), days of leave, and more.
  • NPA: The NPA provides mid-month pay information.

What about partial months? The military considers a month to be 30 days long this makes it easier for calculating pay and benefits for a partial month of service. So each day of pay is worth 1/30th of your monthly pay and benefits. If you only work part of a pay period you would receive 1/30th of your normal pay and benefits for this period. This is important to know for those times when you PCS, are away on an extended TDY or deployment, or when you separate or retire from the military.

Source: DFAS.

When Is The Next Military Pay Date

While active duty military pay dates are the 1st and the 15th of each month, when the 1st or 15th falls on a weekend, the pay date shifts slightly as you will see in 2021 Active Duty Military Pay Dates chart below.

One of the perks of using a bank like USAA or Navy Federal Credit Union is the ability to have your pay check funds available early. Typically the early pay date is one business day before the regular pay day, but when the regular pay day falls on a Monday, NFCU members receive their early pay on Saturday and USAA members receive their early pay the Friday before.

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Navy Federal Personal Loans: 2022 Review

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

Navy Federal At A Glance

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  • No origination or prepayment fees.

  • No rate discount for autopayments.

Loan flexibility

  • Does not allow changes to payment due date.

  • Funds loans the same day.

  • No refinancing options.

  • Available in all 50 states.


  • Clearly discloses rates and terms on website.

  • No FAQ to answer borrower questions.

Customer experience

  • Offers multiple customer contact channels and 24/7 support.

  • Offers mobile app to manage loan.

  • Provides financial education.

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Who Is Navy Federal Credit Union Best For

Navy Federal Credit Union is a full-service credit union offering a wide range of products and services. Its a good fit for customers who:

  • Are part of the armed forces or related to someone who is a member
  • Want a full-service credit union for all of their banking needs
  • Are looking for simple bank accounts that earn interest

When Are Les Statements Available For The Pay Periods

Leave and Earning Statements are typically available 7 days before the pay day.

The only date that might be different this year would be regarding the LES statement that is scheduled to come out on November, 24th for the December 1st pay date. Thanksgiving falls on November 24th this year, so the date the LES is available may shift slightly.

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Navy Federal Cashrewards Credit Card: $100 Bonus

This cash-back card offers 1.75% back on your purchases if you have direct deposit and 1.50% without direct deposit. You can start redeeming rewards as soon as you earn them theres no limit and they never expire as long as your account remains in good standing. All Navy Federal credit cards come with 24/7 access to U.S.-based customer service and no fees for balance transfers or foreign transactions. Heres more:

  • Cash value: $100

How Does A Share Certificate Work

Military Pay Calendar 2020 Navy Federal

When you open a share certificate, you commit to leaving your money deposited with the credit union for a certain term. The credit union agrees to pay you a fixed APY on your savings for as long as your money is deposited. With most traditional certificates, you have to pay an early withdrawal penalty if you pull your money out before the term is up.

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How Navy Federal Credit Unions Certificates Compare

Navy Federals certificate rates are significantly higher than the national average CD rates, according to data from the FDIC, and are competitive with some of the best CD rates.

The minimum deposit is $1,000, which is less than some banks require. And, depending on the term, you may find a better APY with Navy Federal Credit Union than even some of the best online banks can offer. If a $1,000 minimum deposit is too much for your savings goals, Navy Federal also offers EasyStart Certificates, which you can open with a minimum of $50, but these pay slightly lower rates than Standard Certificates.

To get the best rate possible, make sure to shop around and compare rates at multiple banks and credit unions.

About Navy Federal Credit Union

At the end of the Great Depression, a group of seven Navy Department employees founded Navy Federal Credit Union. Their goal was to create a place where they and their co-workers could save or borrow money and work toward individual financial goals. Today, credit union membership is open to members of all branches of the military.

Navy Federal Credit Union has more than 11.7 million members. The credit union has more than $160 billion in assets and 349 branches around the world.

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Are Share Certificates Safe

Certificates are generally considered to be one of the safest places to put your savings. If you choose a credit union like Navy Federal that is NCUA-insured, your savings are protected, up to $250,000 per depositor, for each account ownership category, in the event of credit union failure. Navy Federal Credit Union is insured by the NCUA .

Realtyplus Real Estate Assistance: Up To $9000 Bonus

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RealtyPlus is a program available to Navy Federal members who want to buy or sell a home. All you have to do is enroll in the program and choose an approved agent. You can earn up to $9,000, depending on the value of the home and where you live.

  • Cash value: Up to $9,000
  • Minimum deposit to qualify: None
  • Expiration date: None
  • How to get it: Enroll in the RealtyPlus program. Choose an agent from the approved list to buy or sell your home. Close on the sale.
  • When youll get it: After closing on the sale
  • Terms and conditions: Members must enroll in the program and use an approved agent to qualify for the cash-back bonus. A Navy Federal Credit Union mortgage is not required. Residents of Kansas and Tennessee receive a Mastercard MAX gift card instead of cash. The program is not available in Alaska, Louisiana and Oklahoma.
  • Monthly fee: None
  • Promotions page:RealtyPlus bonus offer

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Navy Federal Customer Service

Navy Federal members have access to a wide range of support options from the credit union. Phone support is available 24 hours a day, seven days a week, with options for domestic and international callers:

  • Domestic: 888-842-6328
  • International: 703-255-8837

Other support options include chat, email, mail, and social media channels.

Navy Federal does give members online and mobile access, which arent options at many credit unions. Members can check balances, make payments, transfer money, and order checks from almost anywhere.

How To Open A Navy Federal Account

If you meet membership requirements, you can complete the membership application. You and any joint owners need to provide:

  • A drivers license or government-issued ID
  • A Social Security number
  • A home address
  • A way to fund your account, such as a credit card, a debit card or your routing and bank account numbers, to initiate a transfer

Individuals who are being sponsored by a current credit union member also need to provide information about their sponsor. This includes the last four numbers of the sponsors Social Security number and a credit union Access Number. Once your account is approved, you can log in and start banking.

Where Do The Longer Pay Periods Fall For This Year

Since holidays and weekends shift the military pay dates some throughout the 2021 year, there are always a few pay periods that are longer than others. When you add early pay into the equation, it can make some of these pay periods even longer.

This is important information for military families to take note. If you plan and budget for 15-16 day pay periods you may need to make a different plan for the months that have longer pay periods.

Pay special attention to the longer pay periods at the end of the year. For USAA & NFCU members you will have a longer time between pay checks in the second half of November. Plan ahead on your holiday budgeting so you arent surprised by this 18 day pay period! Remember to budget accordingly for Thanksgiving and Black Friday shopping.

The other longer pay periods in the 2021 year will fall around spring break, summer vacations and back to school shopping.

Dont be surprised by these 18-19 day pay periods this year!

You are aware that it will be longer between pay checks on these dates, but what can you do? A good idea is plan to save on the shorter pay periods.

Many make the mistake of thinking that because a pay period was only 12-14 days long that they have extra money. Instead, set the extra aside for these longer gaps in pay.

Speak with a friendly associate at USAA or Navy Federal about opening a savings account and how you can save in the shorter gaps to be prepared for these longer pay periods.

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Military Pay Dates For Active

2021 Navy Federal Active Duty Checking Military Paydays  KateHorrell

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One of the first steps in creating a budget is anticipating how much money youll make, and when you will have it.

In general, military pay dates are easy to remember: You usually get paid on the first and 15th of each month.

There are exceptions when those dates fall on a weekend or holiday. In those cases, you would get paid on the weekday preceding that weekend or holiday. So if your pay date would be on Sunday the 15th, you would actually receive your pay on Friday the 13th. .

How Payday Loans Work

Payday lenders allow borrowers to take out short-term loans to tide them over until their next paycheck, which is why the loans are known as payday loans. If you opt for this type of loan, youll probably be asked to write a post-dated check or agree to allow the lender to take the payment directly from your checking account. Keep in mind, you wont be making several small payments. Youll be expected to pay the whole loan amount, plus the interest or finance charge, all at once.

Before signing on the dotted lineand maybe leaving your personal finances in worse shape than beforeheres what you need to know about payday loans.

Where Navy Federal Stands Out

Wide range of loan amounts: Borrowers can choose loan amounts from $250 to $50,000 when applying for a personal loan at Navy Federal. This is an especially wide range among lenders and could make the loan a fit for a small expense like an emergency repair or something larger like a home improvement project.

Term availability: For most loans, repayment terms range from one to five years, but borrowers funding a home improvement project have more choices. With a $25,000 minimum loan amount, you could qualify for a term from five to seven years. With a $30,000 minimum, you could qualify for a term up to 15 years.

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Co-signed, joint and secured loans: Members can add a co-signer or co-borrower to their application. Adding someone with better credit or higher income can help your chances of getting a lower rate or a higher loan amount. While both co-signers and co-borrowers are responsible for missed payments, co-signers do not have access to the funds.

Borrowers can also secure their loan with a Navy Federal savings account or CD, which could help you qualify for a lower rate. Depending on the account you choose, your APR would be your share rate or certificate rate, plus 2% to 3%.

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