Best Bank Accounts

Why we like it: The mph.bank Free Checking Account account offers a 3.75% APY on balances up to $50,000 with no monthly fees, no ATM fees and only a $25 minimum deposit required to open an account. That means you can open this account with very little money and enjoy a high interest rate up to a very high balance without any monthly fees eating away at them.

What we don’t like: With no physical presence, Mph.Bank’s checking account is best suited for online transactions. Plus, in order to take advantage of the account’s APY, you will need to set up a direct deposit of at least $2,000 every month. Lastly, this account is not suited for those looking to deposit large amounts of money, as balances above the $50,000 mark get no interest rate at all.

Who should get it: Anyone looking to get a great APY on their checking account, alongside very low fees, should check the mph.bank Free Checking Account account out.

Why we like it: The Connexus Credit Union Xtraordinary Checking account provides a 5.00% APY on balances up to $25,000. It has no monthly fees and requires no minimum deposit to open. Among interest-bearing bank accounts, this is one of the best checking options available today.

What we don’t like: The Connexus Credit Union Xtraordinary Checking account comes with an $18 overdraft fee. While it’s not the highest around, there are still many accounts without one. Also, to get the APY, you need to enable eStatements, ensure a monthly deposit of at least $500 from either a direct deposit or an ACH deposit, and make 15+ debit card purchases or spend $500+ using your debit card per month.

Who should get it: If you’re looking for the best APY on a checking account, then the Connexus Credit Union Xtraordinary Checking account is the one for you.

Why we like it: The mph.bank Free Checking Account account pays a competitive 3.75% APY on balances up to $50,000 and comes with no monthly maintenance fees or ATM fees. You can also open the account with just a $25 minimum deposit.

What we don’t like: Since Mph.Bank operates entirely online, this checking account will not work for you if you prefer in-branch banking. Additionally, earning the advertised APY requires setting up a recurring direct deposit of at least $2,000 each month.

Who should get it: The mph.bank Free Checking Account account is a strong option for anyone who wants to earn a high APY on a checking account while keeping fees to a minimum.

Why we like it: American Express Rewards Checking comes with an APY of 1.00% and gives you 1 Membership Rewards point for every $2 you charge to your debit card. Plus, it doesn’t charge overdraft fees or monthly fees. 

What we don’t like: While we like the rewards, a sign-up bonus is also common for checking accounts of this kind, and that’s lacking here. Plus, the APY is much lower than most interest-bearing checking accounts.

Who should get it: If you are looking to earn some interest and rewards from your bank account, then the American Express Rewards Checking account should be right for you.

Why we like it: With no monthly fees, no deposit requirements for opening, and no overdraft fees, the Capital One Money Teen Checking is one of the best student checking accounts out there.

What we don’t like: With just an APY of 0.10%, it’s better than nothing, but lower than any other checking account on this page.

Who should get it: If you feel more comfortable working with a large bank, but still want to avoid fees and get a little interest, then the Capital One Money Teen Checking Account is the best one for you.

Why we like it: The Bluevine Premier Business Checking account offers a 3.00% APY, no deposit fees, no transaction limits, and no overdraft fees. With advanced features like sub-accounts and better invoice tools, this account is ideal for growing digital businesses.

What we don’t like: This account comes with a $95 monthly fee, quite higher than the usual $10-$25 range. Still, you can avoid the fee if you maintain an average daily balance of at least $100,000 in your Bluevine Business Checking account and/or sub-account(s) and Spend at least $5,000 with your Bluevine Business Debit Mastercard.

Who should get it: If your business is comfortable operating online and wants to get some interest on its deposits, then the Bluevine Premier Business Checking account would be a great choice.

The Pibank Savings account is our best overall pick because it offers a 4.60% APY regardless of balance. It also has no minimum deposit requirement and no monthly fees, so if you’re looking to deposit a decent amount of money, you can’t go wrong with this savings account.

This is one of the highest-yielding savings accounts on the market, offering a 5.00% APY on balances up to $5,000 as well as no monthly fees. It also has no minimum deposit requirement.

With no monthly fees, a great 10.38% APY for balances up to $1,000, Spectra Credit Union’s offer for kids is a terrific tool to get them started on savings with as little as $5 dollars. 

Although a credit union, Spectra allows you to join and apply simply through an American Consumer Council membership.
 

The Community Savings Business Savings comes with 3.80% on any balance and a $1 minimum deposit requirement. Also, with no monthly fees, it’s one of the best business savings accounts on the market today.

With an APY of 4.15% APY, Northern Bank Direct’s 3-month CD becomes one of the best short-term certificates on the market.

With no minimum deposit, and an APY of 4.10%, E*Trade’s 1-Year CD offer is one of the best around for this term.

This bank’s CD stands out with an APY of 4.15%. While most 5-year certificates average around 2%, the fact that United Fidelity Bank more than doubles it makes it the best offer for this term.

Credit One currently offers the best 1-year Jumbo CD, with an APY of 4.05%, one of the best on the market regardless of CD type. Like most jumbo certificates, the minimum deposit required is $100,000.

If you're looking to earn a higher rate on your deposits while maintaining the flexibility to access your funds in case of an unexpected expense, Marcus by Goldman Sachs offers a no-penalty 3.95% APY CD that serves as a beneficial option for storing your emergency savings.

The minimum deposit required to open one of these accounts is $500, which is a little more than what some banks charge but less than what you might pay at a brick-and-mortar bank.

Newtek Bank offers a great 1-year business CD, with a 4.00% APY. The $2,500 minimum deposit requirement is not great, but its interest rate is the highest around at this term.