10 Best Online Banks Of 2025

We chose Bank5 Connect High-Interest Checking for its high-interest checking account, which offers 2.00% APY on balances of $100 or more and comes with no monthly fees and the ability to earn cash-back rewards with your debit card. You’ll also get up to $15 per month in ATM fee reimbursements.

Why We Like It

We like Bank5’s high-yield, free checking account and its cash-back rewards debit card. The Bank5 Jumbo Savings account also offers a competitive 4.15% APY, but you’ll need to have a balance of at least $25,000 to qualify.

What We Don’t Like

Unless you can qualify for Bank5’s jumbo savings account, its savings rates aren’t the best around. Bank5’s ATM network is also fairly limited, but it does help that the bank doesn’t charge any ATM fees—and even offers reimbursements for ATM fees charged by other banks.

Who It’s Best For

You should look into Bank5 if you’re primarily looking for a rewarding, low-fee checking account. It might also be worth considering if you’ve got $25,000 or more to stash in savings.

Residents of Massachusetts and Rhode Island are not eligible to bank with Bank5 Connect. Accounts are insured by the FDIC, and all deposits above the FDIC limit of $250,000 are 100% insured by Depositors Insurance Fund (DIF) protection.

We chose Quontic Bank as one of the best online banks because it offers top APYs on all its accounts: 1.10% APY on its Quontic Bank High Interest Checking account, 3.85% APY on its Quontic Bank High Yield Savings account, 4.25% APY on its Quontic Bank Money Market Account and 3.00% to 4.00% APY on its Quontic Bank Certificate of Deposit.

Why We Like It

We like Quontic’s high APYs and low fees and minimum deposit requirements. The bank also has a Quontic Bank Cash Rewards Checking account that pays up to 1.00% cash back on all qualifying debit card transactions.

What We Don’t Like

Quontic makes it easy to earn the stated APY on most of its accounts but to earn the 1.10% APY with its High Interest Checking account, you’ll need to make at least 10 qualifying debit card transactions of at least $10 each per statement cycle.

Who It’s Best For

You should go for this online bank if you’re after high APYs and want to be able to take care of all your banking in one place.

Quontic Bank offers one savings account, two checking accounts, a money market account and five CDs with terms ranging from six months to 60 months.

In addition to its competitive rates, low minimum deposit requirements and lack of fees, we chose Ally Bank for its unique online savings tools. With Ally’s savings account, you can create “buckets” that allow you to set 10 different savings goals within a single account. The bank also has a “round ups” feature that transfers the spare change from your transactions into your savings account. And the bank’s “surprise savings” feature analyzes your Ally checking account for money that’s safe to save and transfers it to your savings account automatically.

Why We Like It

As a full-service online bank, Ally offers an array of high-APY, low-fee checking and savings products. It has an extensive ATM network and reimburses up to $10 per statement cycle for fees charged at out-of-network ATMs.

What We Don’t Like

Ally’s money market account and CD rates aren’t the highest available.

Who It’s Best For

Consider Ally Bank if you’re looking to boost your savings account balance—its combination of unique savings tools and a generous savings APY will help you get there.

Ally Bank offers a savings account, interest-checking account, money market account and CD terms from three months to five years. It also offers a raise your rate CD with terms of two and four years and a no-penalty CD with a term of 11 months.

We chose Synchrony Bank because its Synchrony Bank High Yield Savings account pays 3.85% APY, charges no monthly fees and has no minimum deposit requirement. Unlike most savings accounts, Synchrony High Yield Savings comes with an ATM card for easy access to your funds.

Why We Like It

We like that all of Synchrony’s savings products—its high-yield savings account, money market account and CDs—charge no monthly fees and have no minimum deposit requirements. Its savings account APY is impressive, as are its rates on most CD terms.

What We Don’t Like

This online bank’s money market account pays less than what you could find elsewhere, and it doesn’t offer a checking account.

Who It’s Best For

Open an account at Synchrony Bank if you’re looking to open a high-yield savings account or CD, especially if you want to avoid monthly fees and minimum deposit requirements.

Synchrony Bank is another top bank that charges very few fees. You won’t find a monthly maintenance fee or other common fees with its High Yield Savings account. You will, however, get charged for outgoing wire transfers, stop payment orders and overnight checks, each of which comes with a $25 fee. Synchrony doesn’t charge fees at any ATM displaying the Plus or Accel logos, but the ATM owner may charge a fee. To achieve Diamond status within the Perks Rewards program, you must either have a collective balance of $250,000 across your Synchrony accounts or have a relationship of at least five years with the bank.

All balances earn the same competitive 3.85% APY. There are no minimum balance requirements. Interest is compounded daily and credited monthly.

Discover® Bank makes our list of best online banks for avoiding fees thanks to its zero-fees policy: no monthly maintenance fees, no insufficient funds fees and no out-of-network ATM fees. There’s also no fee for stop-payment orders, returned items or excessive withdrawals.

Why We Like It

Discover offers a full suite of banking products and services, including the Discover® Bank Online Savings Account earning 3.50% APY and the Discover® Cashback Debit Checking account that earns 1% cash back on up to $3,000 in debit card purchases each month. See website for details. And customers have access to an extensive ATM network.

What We Don’t Like

This online bank’s MMA and CD rates could be improved, although it does offer one of the best rates on 10-year CDs.

Who It’s Best For

Anyone looking to minimize fees while still earning competitive rates and rewards should look into Discover.

Discover Bank offers a cash back checking account, a high-yield savings account, a money market account and CDs with terms from three months to 10 years. The mobile app is highly rated on the App Store and Google Play.

We included NBKC Bank because it’s a full-service bank that offers interest-bearing accounts and keeps fees to an absolute minimum. There are no monthly maintenance fees, overdraft fees, minimum balance fees or foreign transaction fees. Plus, NBKC offers home loans, personal loans and more, so you can take care of all your financial needs in one place.

Why We Like It

NBKC Bank Everything Account is an interest-bearing checking and savings account combined into one. You can spend, save and pay bills from a single account. It comes with an extensive ATM network and reimburses up to $12 per month for out-of-network ATM fees. Its CD rates are also fairly competitive.

What We Don’t Like

While the Everything Account’s APY is impressive for a checking account, you could earn a lot more on your savings with one of the best high-yield savings accounts. NBKC’s money market account doesn’t offer the highest rate either.

Who It’s Best For

Go for NBKC Bank if you want to take care of all of your online banking, and potentially your loans, in one place. It’s also worth checking out if you like the idea of a combined checking and savings account.

NBKC Bank offers a combined checking and savings account, a money market account and CD terms from three months to five years. It also has an add-on CD that has a term of one year.

We ranked SoFi® highly because its combined checking and savings account comes with a mobile check deposit feature that allows you to snap a photo of your check and access your funds as early as one day later. This free, interest-bearing account also comes with early direct deposit.

Why We Like It

You’ll earn 0.50% APY on checking and up to 3.80%¹ APY on savings if you set up eligible direct deposit, by depositing $5,000 or more every 30 days or by signing up for SoFi+. Customers who don’t meet this criteria earn 1.00% APY on savings balances with the SoFi Checking and Savings Account. You can even earn cash back when you use your SoFi debit card at qualifying businesses.

What We Don’t Like

This bank doesn’t offer standalone checking or savings accounts, nor does it offer money market or CD accounts.

Who It’s Best For

Opt for SoFi if you’re looking for a checking and savings account that earns competitive yields and comes with extra online banking features like mobile check deposit and savings roundups.

SoFi doesn’t offer separate checking or savings accounts at this time—only the combined SoFi Checking and Savings Account account. Up to 3.80%¹ APY on checking and savings account balances can be yours when you set up eligible direct deposit or by depositing $5,000 or more every 30 days. Members without eligible direct deposit earn 1.00% APY on savings and Vaults balances and 0.50% APY on checking balances.

When you open an account, you become a SoFi member, which comes with access to additional benefits like rate reductions on loan products, financial planning services, estate planning discounts, access to exclusive SoFi events and more.

¹SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

We awarded EverBank (formerly TIAA Bank) a top spot for its EverBank Basic CD, which pay competitive rates ranging from 3.50% to 4.10% APY and have a modest opening deposit requirement of $1,000. EverBank CDs come in terms ranging from three months to five years.

Why We Like It

In addition to its competitive CD rates, EverBank charges no monthly fees on its bank accounts, no overdraft fee from a linked EverBank account and no ATM fees. EverBank’s checking account also automatically reimburses up to $15 each month for third-party ATM charges. Keep a minimum balance of $5,000 or more in your checking account and you’ll get unlimited ATM reimbursements.

What We Don’t Like

The online bank’s money market account doesn’t pay the highest rate, and EverBank doesn’t offer any CD accounts with terms longer than five years.

Who It’s Best For

EverBank is best for strategic savers who want to leverage a CD ladder to their advantage. The bank offers eight term lengths under three years and lets you build that sees a CD mature every three months. However, EverBank doesn’t currently offer any CD terms longer than five years.

EverBank offers a checking account (Yield Pledge Checking), a savings account, a money market account (Yield Pledge Money Market), basic CDs, a bump-up CD and what it calls an IntraFi CD, a CD that offers expanded FDIC insurance on deposits.

We chose Capital One 360 as a top pick for customer service because it offers 24/7 customer service and has been ranked highest in overall customer satisfaction by J.D. Power for four years in a row. This bank is also a unique hybrid of a no-monthly-fee online bank and a brick-and-mortar bank. Its Capital One Cafés offer a place to get personal, face-to-face support from bank representatives and money coaches in a coffee-shop atmosphere. And Eno, the bank’s virtual assistant, is available in the mobile app or by text.

Why We Like It

None of the bank’s products require a minimum deposit or minimum balance, and Capital One 360 offers high yields on savings and CD accounts.

What We Don’t Like

This online bank’s Capital One Cafés are a unique perk, but it only has locations in select cities.

Who It’s Best For

Consider Capital One 360 if you want the low fees and high yields offered by online banks but don’t want to sacrifice good customer service to get them.

Capital One 360 offers a savings account (360 Performance Savings), checking account (360 Checking) and CDs (360 CDs). It also offers a Kids Savings Account and MONEY Teen Checking.

We picked First Internet Bank as the best online bank for small businesses because it offers an array of low-fee and interest-bearing business checking, savings, CD and money market accounts. Its Do More Business Checking account has no monthly maintenance fees or minimum deposit requirements, earns interest, and offers unlimited transactions. The bank’s First Internet Bank Certificate of Deposit (Personal) also pay a generous 3.60% to 4.49% APY.

Why We Like It

We love the rates on this bank’s business MMA and CDs. We also like that it offers two free checking accounts—one designed for new or growing businesses and one for medium- to large-sized businesses. Its personal accounts also come with decent rates and low fees.

What We Don’t Like

First Internet Bank’s savings rates on both its business and personal accounts are fairly low.

Who It’s Best For

Look into First Internet Bank if you want to open a business checking account, or a business or personal CD account.

First Internet Bank has two business checking accounts, a regular business savings account, a business money market account and business CDs with terms ranging from three months to five years.

Do More Business Checking has no monthly fee, but you need to maintain a minimum $10,000 balance to earn interest. Money Market Savings has a $5 monthly fee, waived with a $4,000 minimum daily balance. It earns 3.46% APY with a daily balance of $5 million or below and 4.42% APY with a daily balance above $5 million. Regular Savings has a $2
2 monthly fee, waived with a $1,000 minimum daily balance. It earns 0.91% on all balances. You’ll need to call the bank for information about Commercial Checking.