There’s no such thing as one “best” bank account for everyone … and that’s actually a good thing. The right account depends on how you use money, whether you’re a student opening your first checking account, a couple managing shared expenses, or a business owner juggling cash flow.
At LendEDU, we reviewed the best bank accounts overall across checking, savings, CDs, and business banking to find the ones that stand out for specific needs. You’ll see familiar names like Capital One, SoFi, Ally, and Chime.
- Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
- APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
- Fee Policy
We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
- Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
- ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
- Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
- Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
- 0.70% Savings APY Boost
Earn up to 3.80% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.10% APY) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 12/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
- Earn up to 3.80% APY8
- Limited Time Offer – New accounts earn a 0.70% APY boost to 3.80% for up to 6 months with eligible direct deposit8
- $0 minimum balance to earn APY
- Earn $50 or $400 when you sign up and set up eligible direct deposit1
- Open Checking & Savings Accts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 06/16/2026. Rates may change at any time without prior notice, before or after the account is opened. The same rate may apply to multiple Tiers and Tiers may change without notice. APY earned is based on the Tier in which your end of day account balance falls. Please see Barclays Tiered Savings for current Tier and APY information.
- Earn 3.75% APY* with Barclays1 Tiered Savings
- $0 min. balance to earn APY
- No monthly maintenance fees
- Easy direct deposits & online transfers
- Deposits are FDIC Insured
ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of 6/16/2026.
APYs are subject to change at any time without notice. Offers apply to personal non-IRA accounts only. Charges for specific services may reduce earnings. For High Yield Savings Accounts, the rate may change after the account is opened. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest for your CD type in effect at that time. See all non-IRA CD rates and terms offered here.
NATIONAL AVERAGE: National Average APYs are based on specific product types of top 50 U.S. banks (ranked by total deposits) provided by Curinos LLC through 05/01/2026. High Yield Savings Rates: Average APYs are based on High Yield Savings Accounts of $10,000. Curinos data is obtained from public sources; accuracy and completeness is not guaranteed. Curinos is not liable for reliance on the data.
FDIC INSURANCE: up to $250,000 per depositor, per insured bank, for each ownership category.
- Earn up to 3.30% APY*
- Open a High Yield Savings Account without a minimum deposit
- Competitive rates, no required minimum balances, and no monthly fees
- The Synchrony app makes it a snap to bank anywhere
- Member FDIC
Advertised annual percentage yield (APY) is for new accounts only and is accurate as of June 16, 2026. APY tiers apply to the following balances:
- 4.01% APY on balances of $0.01 – $999.99
- 4.01% APY on balances of $1,000.00 – $49,999.99
- 4.01% APY on balances of $50,000.00 – $499,999.99
- 3.14% APY on balances of $500,000.00 – $999,999.99
- 3.14% APY on balances of $1,000,000.00 & Above
This is a variable-rate account, and APY is subject to change at any time without notice. Limit of one Envision High Yield Savings account per customer. Minimum amount to open is $100, with opening funds subject to a 5-business day hold. Fees may reduce earnings on account.
- Earn up to 4.01% APY
- No monthly maintenance fees
- Open an account with as little as $100
- Open an account in as little as 5 minutes
- Backed by the financial strength of Idaho First Bank
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends June 30, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
The promotion can end at any time without notice.
New CIT Bank Customers: This Platinum Savings APY Boost promotion offer is valid for New CIT Bank customers, who, at account opening, do not have a valid CIT Bank User ID (a “New Customer”) or any open CIT Bank accounts provided that the following requirements are met:
New customers must open a Platinum Savings account with a valid Promo Code, CITBoost. The Platinum Savings APY Boost Promo Code will appear on the online account opening enrollment web page.. The Promo Code must be used at the time of account opening. Accounts opened during the program period without the Promo Code are ineligible to receive the APY boost.
The enrolled Platinum Savings account must be open to receive the APY boost during the promotional period.
CIT Bank Customers with an account prior to the promotion: This Platinum Savings APY Boost promotion is valid for a Primary account owner with an existing account with a CIT Bank User ID before the start of the promotion, provided that the following requirements are met:
Customers without a Platinum Savings account open prior to the Promotion must open a new Platinum Savings account via the enrollment web page using Promo Code CITBoost.
Customers with a Platinum Savings account opened prior to the promotion may enroll their current Platinum Savings account into the Platinum Savings Boost promotion via the enrollment web page using Promo Code CITBoost.
Customers who are not the Primary account owner on a Platinum Savings account may open a new Platinum Savings account as the primary account owner via the enrollment web page using Promo Code CITBoost.
Accounts opened or enrolled during the program period without the Promo Code are ineligible to receive the APY boost.
There is a limit of one Platinum Savings APY Boost promotional offer per account and per Primary customer. If multiple Platinum Savings accounts are opened, only one account per primary account owner is eligible.
There is no minimum account balance requirement to participate in the Platinum Savings APY Boost promotion.
Additional Important Terms
The Platinum Savings APY Boost promotion may not be combined with other promotions.
Customers are ineligible to participate in the Platinum Savings APY Boost promotion if:
They are earning an APY over the standard rate.
They participated in a cash bonus promotion in the past 6 months.
Custodial accounts and accounts in the name of a Trust are not eligible.
This offer is non-transferable.
The value of Platinum Saving Boost will be reported as interest income on IRS Form 1099-INT for the calendar year in which it was paid. The recipient is responsible for any applicable taxes.
- Earn 4.10% APY* with CIT’s Savings Connect Account
- $100 minimum balance for APY
- No account opening or monthly service fees
- Deposit checks online with the CIT Bank mobile app
- FDIC Insured
Best bank accounts to consider this month
1. Best overall: Capital One
Accounts we recommend: 360 Checking, Money Teen Checking, 360 Performance Savings, 360 CDs
Why Capital One 360 Checking is the best online checking
| APY range | 0.10% |
| Required opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| Debit card | Yes |
| Mobile check deposit | Yes |
| Savings accounts available | Yes |
| CDs available | Yes |
| Insurance | FDIC insured |
| BBB rating | A+, Accredited; Customer reviews = 1.11/5 |
| Trustpilot rating | 1.2/5 |
Hands down, Capital One has the best bank accounts to open online, and its 360 Checking account is no exception. On top of no fees, the account earns a modest APY, and you can score a $250 cash bonus when you open an account as a new customer and receive qualifying direct deposits.
Capital One’s 360 Checking is also on LendEDU’s best checking account list.
Why Capital One Money Teen Checking is the best student bank account
| APY | 0.10% |
| Required opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| Debit card | Yes |
| Mobile check deposit | Yes |
| Savings accounts available | Yes |
| CDs available | Yes |
| Insurance | FDIC insured |
Capital One Money Teen Checking is one of the best bank accounts for students and teens. The child in your life will get their own debit card, login, and spending tools. But as a parent or guardian, you can monitor activity, set controls, and lock or unlock the card as needed. The account also supports allowances and goal tracking, so it’s easier to teach everyday money skills in a low-stakes way.
Why Capital One 360 Performance Savings is the best online savings
| APY | 3.30% |
| Required opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| CDs available | Yes |
| Insurance | FDIC insured |
Capital One 360 Performance Savings earns its spot as the best online savings account because it keeps things simple and competitive. You get a solid APY with no fees, no hoops, and no fine print that quietly eats into your balance.
Capital One 360 Performance Savings also appears on LendEDU’s list of best savings accounts.
Why Capital One 360 CDs are the best online CDs
| APY range | 3.50% – 3.90% |
| Minimum deposit | $0 |
| Terms | 6 – 60 months |
| Early withdrawal penalty | 3 – 6 months of interest |
| Checking accounts available | Yes |
| Savings accounts available | Yes |
| Insurance | FDIC insured |
Capital One 360 CDs stand out because they remove two common CD pain points at once: high minimum deposits and uneven rates. For instance, because there’s no minimum required to open a CD, you can start however small you want or spread your savings across multiple terms by building a CD ladder.
The other thing we love about Capital One is that it boasts competitive APYs across all CD terms, rather than reserving decent rates for just one or two options. That consistency is just one reason Capital One 360 CDs also appear on our list of best CDs.
2. Best for simple accounts: Barclays
Accounts we recommend: Savings
Why Barclays Online Savings is the best simple bank account
Barclays Online Savings is our pick for the best simple savings account. If you want a no-frills place to park cash and earn a competitive rate, this account does exactly that. The APY is strong, and it’s backed by Barclays, a long-standing global bank with a solid reputation.
Barclay’s Online Savings account also made LendEDU’s best savings list.
3. Best for college students: SoFi
Accounts we recommend: Checking, High-Yield Savings
Why SoFi’s online checking is the best for college students
| APY | 0.50% |
| Required opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| Debit card | Yes |
| Mobile check deposit | Yes |
| Savings accounts available | Yes (automatically comes with checking account) |
| CDs available | No |
| FDIC or NCUA insured | FDIC insured (up to $3 million) |
| BBB rating | A+, Not accredited; Customer reviews = 1.3/5 |
| Trustpilot rating | 4.1/5 |
SoFi’s Online Checking account just might be the perfect fit for college students (or anyone!) who want a modern account that won’t punish you for small mistakes. You can earn 0.50% APY on checking balances, qualify for up to $50 in free overdraft coverage, and get paid up to two days early with direct deposit. There’s also a welcome bonus of up to $300.
SoFi Checking also appears on LendEDU’s list of best checking accounts.
Why SoFi’s online HYSA is the best for college students
| APY | Up to 4.00% |
| Required opening deposit | $0 |
| Minimum balance | $0 |
| Monthly fee | $0 |
| ATM card | No |
| Mobile check deposit | Yes |
| Checking account available | Yes (automatically comes with savings account) |
| CDs available | No |
| Insurance | FDIC insured (up to $3 million) |
You don’t need to be in college to open SoFi’s Online Savings account, but it might be one of your top choices if you are. This account has no account fees, no minimums, and savings Vaults that make it easy to set aside money for short-term goals (whether it’s rent, books, or upcoming expenses).
Plus, new customers can earn a $50 or $300 cash bonus with qualifying direct deposit, along with an APY boost that raises the rate for six months.
SoFi Online Savings also appears on LendEDU’s list of best savings accounts.
4. Best for hands-off savers: Synchrony Bank
Accounts we recommend: High-Yield Savings
Why Synchrony High Yield Savings is the best for hands-off saving
Synchrony High Yield Savings is a strong fit if you want to earn a competitive APY without any requirements. With this no-frills account, you can deposit your cash, set up automatic transfers if you want, and then just … let it grow.
We’ve found that Synchrony consistently offers solid savings rates (even across its CD terms), and it has a well-built mobile app. So it’s definitely worth considering if you’re more of a hands-off saver.
Synchrony High Yield Savings also appears on LendEDU’s list of best savings accounts.
5. Best for couples: Ally Bank
Accounts we recommend: Spending Account, High-Yield CDs
Why Ally Bank Spending Account is the best checking account for couples
| APY range | 0.10% – 0.25% |
| Required opening deposit | $0 |
| Minimum balance | None to earn 0.10% APY ($15K to earn 0.25%) |
| Monthly fee | $0 |
| Debit card | Yes |
| Mobile check deposit | Yes |
| Savings accounts available | Yes |
| CDs available | Yes |
| FDIC or NCUA insured | FDIC insured |
| BBB rating | A+, Not accredited; Customer reviews = 1.14/5 |
| Trustpilot rating | 1.3/5 |
Ally’s Spending Account (checking) is solid across the board, but we specifically want to recommend it to couples who manage finances together. With Ally’s spending buckets, you can divide one checking account into categories like rent, groceries, or shared bills without needing a separate budgeting app. And if you also use Ally’s savings account for shares goals, you can set up buckets there too.
Ally also appears on LendEDU’s best checking account list.
Why Ally Bank High Yield CDs are the best for couples
| APY | 3.00% – 3.75% |
| Minimum deposit | $0 |
| Early withdrawal penalty | $0 |
| Checking accounts available | Yes |
| Savings accounts available | Yes |
| Insurance | FDIC insured |
Ally CDs are a great option for couples who want solid rates without micromanaging another account. There’s no minimum deposit, rates are competitive across terms (not just one random standout), and the 10-day rate guarantee gives you a little protection if rates bump up right after you open one.
Plus, both you and your partner can manage the CD from Ally’s app, so there’s no guessing about maturity dates or whose login has the info. Ally CDs also appear on LendEDU’s best CD accounts list.
6. Best rates for CDs: Marcus by Goldman Sachs
Accounts we recommend: CDs
Why Marcus By Goldman Sachs CDs have the best rates
We think Marcus by Goldman Sachs CDs are some of the best bank accounts because they pay competitive APYs across short- and mid-term options. All you need is a $500 minimum deposit, and you can withdraw earned interest at any time without penalty.
Marcus appears on LendEDU’s best CD accounts list. The bank also has a high-yield online savings account with similarly strong rates.
7. Best for kids: Alliant Credit Union
Accounts we recommend: Kids Savings
Why Alliant Credit Union Kids Savings Account is the best for kids
Need a top bank account for your kid? Alliant’s Kids Savings Account is one of the rare accounts that’s genuinely useful and generous. It pays a standout 3.10% APY once the balance hits $100, which is wildly high for a kids account.
Plus, parents and grandparents can manage the account jointly, automate allowances, and track progress toward savings goals right inside the Alliant app.
8. Best for no fees: Chime
Accounts we recommend: Checking
Why Chime Online Checking Account is best for no fees
Chime’s Online Checking is built around one simple promise: Banking shouldn’t nickel-and-dime you. There are no monthly fees, no minimums, and no traditional overdraft fees. You also get access to cool features like early direct deposit, free overdraft coverage through SpotMe (with qualifying activity), and paycheck advances through MyPay.
Chime Checking also appears on LendEDU’s list of best checking accounts.
9. Best business bank account: Bluevine
Accounts we recommend: Small Business Checking
Why Bluevine Small Business Checking is best for businesses and LLCs
I’ve personally used Bluevine since 2020, and it’s still the business checking account I recommend most often. You earn interest directly on your checking balance, so it’s almost like it doubles as a business savings account.
Bluevine also does the basics really well for small business owners. There are no monthly fees on the standard plan, easy ACH and bill pay, clean sub-accounts for budgeting, and you can grant team access when you need it. In a world full of stuffy and confusing business bank accounts, it’s a breath of fresh air.
How to choose the best bank account for you
The best bank account isn’t the one with the flashiest headline or the highest rate on a random chart. It’s the one that actually fits how you use money. Before you open anything new, take a minute to step back and think about how your financial life really works day to day.
Here’s how to narrow it down.
- Start with the type of account you actually need. Are you looking for a checking account to pay bills and swipe your debit card? A savings account to park cash you don’t want to touch? A CD for money you truly won’t need for a while? Or a business account to keep work and personal money separate? A great savings account may not do much if you still have a bad checking account that’s draining you dry with high fees.
- Look closely at fees (even if the app looks great). Monthly maintenance fees, overdraft charges, and minimum balance requirements can quietly drain your account over time. Plenty of excellent accounts today charge $0 across the board, so if a bank is still nickeling and diming you, that’s worth questioning.
- Compare interest rates. Higher APYs matter most for savings and CDs, but you may also want your checking account to earn a little something-something. Beyond looking at the advertised APY, read the fine print to see what you need to do to earn that APY and how long it’s good for.
- Decide whether you want online-only or branch access. Online banks often pay better rates and charge fewer fees. Traditional banks offer in-person help, cash deposits, and familiarity. Neither is “better,” but you may prefer one.
- Just note: Many online banks (especially ones with the best bank accounts) have great customer service teams that rival most traditional institutions.
- Think about whether you want one bank or a mix. Some people love keeping all their bank accounts under one roof. Others prefer to use a different institution for checking and savings, so there’s more friction when they want to make a transfer. Which do you prefer? When in doubt, it may feel like less to manage if you keep everything under one roof with one mobile app.
Expert quotes
I usually suggest keeping a checking account strictly for everyday spending, without worrying about the interest it earns since the funds will likely be in the checking account short-term, and moving excess cash savings into a higher-yield savings account.
When I work with clients who are considering opening accounts with multiple banks, I start by understanding whether they value simplicity or are comfortable managing multiple accounts, and then walk them through the pros and cons of each approach.
If they maintain a large cash balance that exceeds FDIC insurance limits, I may recommend alternative account titling or spreading funds across multiple institutions. Ultimately, their overall financial situation, risk considerations, and personal preferences guide my recommendation.
Recap of the best banks and credit unions
Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
- SoFi, Online Checking Account
- Capital One, Capital One 360 Checking
- Ally Bank, Ally Bank Spending Account
- Chime, Fee-Free Banking
- Alliant Credit Union, High-Rate Checking Account With No Overdraft Fees
- Synchrony, High Yield Savings
- Capital One, Online Performance Savings Account
- Barclays, Barclays Online Savings
- Marcus by Goldman Sachs, High Yield Savings
- Ally Bank, High Yield CDs
- Marcus by Goldman Sachs, High-Yield Certificates of Deposit
- Capital One, 360 CD account and rates
- Alliant Credit Union, Lock in Growth With a Certificate
- Alliant Credit Union, Kids Savings Account with 3.10% APY
- Bluevine, Small Business Checking Account
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About our contributors
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Written by Cassidy Horton, MBACassidy Horton is a finance writer passionate about helping people find financial freedom. With an MBA and a bachelor's in public relations, her work has been published more than 1,000 times online.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.
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Reviewed by Erin Kinkade, CFP®Erin Kinkade, CFP®, ChFC®, works as a financial planner at AAFMAA Wealth Management & Trust. Erin prepares comprehensive financial plans for military veterans and their families.