11 Best Online Banks: Best Guide by GlobalFinMate

The top online banks stand out by offering a strong combination of competitive APYs, minimal fees, and easy account requirements.

We reviewed many online banks across the country to highlight the ones that deliver the best overall value.

Below, you’ll find a breakdown of why each bank was chosen, along with their key pros and cons, plus links to in-depth individual reviews.

Best Online Banks

If you’re looking to open an online bank account, these institutions stand out for their strong rates, low fees, and reliable digital banking experience:

1. American Express National Bank

Savings: 3.40% Annual Percentage Yield (APY) as of November 26, 2025
CDs: Multiple Options
Features: Extensive, Convenient, 24/7 Support

American Express, Member FDIC, provides a Rewards Checking account that pays 1.00% APY on your balance and lets you collect 1 Membership Rewards® point for every $2 spent on qualifying debit card purchases.

They also offer the American Express® High Yield Savings Account, which currently earns 3.40% APY (as of November 26, 2025). The account has no fees, comes with various CD choices, and includes round-the-clock customer support.

The American Express® High Yield Savings Account delivers a competitive return on all balances, with no maintenance charges, no minimum opening deposit, and no minimum balance requirement.

If you prefer locking in your funds for a higher fixed rate, the bank’s CD options are strong. You can choose from seven terms ranging from six months up to five years.

Take note of early withdrawal penalties:
– 90 days of interest for terms under 12 months
– 270 days of interest for terms from 12 to 48 months
– 365 days of interest for terms from 48 to 60 months
– 540 days of interest for terms of 60 months or longer

2. Alliant Credit Union: Best Credit Union

Savings: 3.10% APY
CDs: 3 to 60 months
Features: Convenient, Fee-Free, Accessible ATMs

When does an online bank feel different? When it’s actually an online credit union. Alliant Credit Union is one of the strongest branchless banking options available.

Since Alliant operates as a credit union, it’s built to benefit its members rather than shareholders, prioritizing customer-focused service and value.

Alliant Credit Union delivers an excellent balance of competitive savings rates, multiple account options, access to more than 80,000 fee-free ATMs, minimal fees, and a highly functional mobile app.

Alliant provides a wide range of checking and savings products, including:

-High-Rate Savings: A high-yield savings account designed for people working toward financial goals
-High-Rate Checking: A checking account with appealing interest rates
-Certificates of Deposit: Fixed-term accounts offering steady, predictable returns
-Kids Savings: A custodial savings account for children aged 12 and under
-Teen Checking: A joint account for teens aged 13 to 17 to help them build money-management skills

3. CIT Bank: Best for High Yields

Savings: Up to 3.75% APY
CDs: 6 months to 5 years
Features: High yields, multiple CD options, eChecking

CIT Bank provides interest on qualifying eChecking balances, which is a rare perk among checking accounts.

The bank is also well-known for offering competitive returns across its savings products while avoiding monthly maintenance or service fees.

-Savings Connect: This account delivers one of the strongest savings rates available, offering 3.65% APY.
-Platinum Savings: Earn an exceptional 3.75% APY when your balance stays at $5,000 or above; lower balances earn 0.25% APY.
-Savings Builder: With this account, you can earn up to 1.00% APY by meeting minimum deposit or balance requirements.
-CIT MMA: The Money Market account provides a solid 1.55% APY on all balances, again with no monthly service charges.
-CIT CDs: CIT offers a variety of certificate options with strong yields, including the popular 11-month No-Penalty CD at 3.35% APY.

A major benefit is that CIT Bank’s No-Penalty CDs allow early access to your funds without incurring withdrawal fees, making them more flexible than traditional CDs.

Platinum Savings is a tiered account, meaning the interest you earn depends on your end-of-day balance. The applicable interest rate and APY for your balance tier are applied to your entire balance for that day. *APYs — Annual Percentage Yields are current as of November 20, 2025: balances from $0.01 to $4,999.99 earn 0.25% APY, while balances of $5,000.00 or more earn 3.75% APY. The Platinum Savings interest rates are variable and can change at any time without prior notice. You’ll need at least $100 to open this account. This comparison is based on the national average APY for savings accounts published in the FDIC National Rates and Rate Caps report, updated as of November 17, 2025.

APY — Annual Percentage Yield for the Savings Connect Account is accurate as of November 20, 2025. Rates may change at any time without notice because the account uses variable interest rates. A minimum of $100 is required to open the account. Keep in mind that any applicable fees may lower your overall earnings.

APY — Annual Percentage Yield for the No-Penalty CD is accurate as of November 20, 2025. A minimum of $1,000 is required to open this account. With a No-Penalty CD, you can withdraw your full balance plus any interest earned without penalty starting 7 days after the funds are received. However, no withdrawals are allowed within the first 6 days from the date the deposit is made.

4. GO2bank: Best for Debit Card Rewards

Savings: Up to 4.50% APY
CDs: N/A
Features: Credit building, high-yield savings, cash deposits at retail locations

GO2bank operates as a fully digital bank with a mobile-first approach. It offers a checking account with no monthly fee when you set up qualifying direct deposits, along with strong savings rates — you can earn up to 4.50% APY on balances up to $5,000. The app also provides up to 7% cash back¹ when you purchase eligible eGift cards.

Eligible eGift card purchases made through the GO2bank app can earn as much as 7% back.

-No minimums: There’s no required opening deposit or mandatory minimum balance.
-No monthly fee: The $5 monthly fee is waived when you receive an eligible direct deposit.
-Early direct deposit: With ASAP Direct Deposit, you may receive your paycheck up to two days earlier.
-Convenient cash deposits: Add cash at thousands of supported retail stores, though fees and limits may apply.
-Optional overdraft protection: When you opt in and have qualifying direct deposits, you may receive overdraft protection up to $200*.
-High yield on eligible savings: Earn 4.50% APY on savings up to $5,000, paid quarterly — significantly higher than the national average.

5. Quontic: Best for Savers

Savings: 4.00% APY (4.75% money market)
CDs: 6 months to 5 years
Features: Pay ring, interest-bearing checking, cash-rewards checking, unique home loan programs

Quontic Bank originally launched as a small community-focused bank in New York, built to support budget-conscious consumers. Over time, it expanded into a modern digital bank that now offers a broad range of fee-free, high-return banking products and innovative tools nationwide.

Although Quontic still maintains a limited branch presence, its online operations now make up the majority of its services.

With its nationwide reach, Quontic provides highly competitive returns on both checking and savings accounts for individuals and small businesses — all without charging monthly service fees:

-Cash Rewards Checking: Earn 1.0% unlimited cash back on qualifying debit card transactions once you meet the $100 minimum opening deposit.
-High Interest Checking: Complete 10 or more eligible debit card purchases of at least $10 each within every statement cycle to access strong interest rates based on your balance. Minimum opening deposit: $100.
-High Yield Savings: Earn top-tier savings rates (currently 4.00%) with a minimum opening deposit of $100.
-Money Market Account: Earn excellent money market yields (currently 4.75%) after opening your account with at least $100.
-Certificates of Deposit: CD terms range from six months to three years, offering competitive returns. Minimum opening deposit: $500. Early withdrawal penalties may apply.

Quontic also created the industry’s first wearable debit card — the Quontic Pay Ring, which allows seamless tap-to-pay transactions.

Additionally, the bank offers a range of mortgage products, including specialized programs designed for recent immigrants and foreign nationals.

6. Ally: Best for Savings Goals

Savings: 3.85% APY
CDs: 3 months to 5 years
Features: Savings buckets, large ATM network, no monthly maintenance fees

Ally Bank is a fully online bank offering low minimum deposit requirements and no monthly maintenance fees.

Ally provides competitive yields, flexible savings tools, and customizable savings buckets to help you reach your financial goals.

Deposit account options include:

-Savings: Earn 3.85% APY on all balances, organize funds with savings buckets, and boost savings through round-ups and recurring transfers.

-Money Market: 3.85% APY on all balances, free access to the Allpoint ATM network, and remote check deposit capabilities.

-Spending: No monthly maintenance fees, up to $10 reimbursement for non-network ATMs, early access to direct deposit, and overdraft protection.

7. EverBank (Formerly TIAA): Guaranteed High Rates

Savings: 5.00% introductory rate, then 4.50%
CDs: 3 months to 5 years
Features: Interest-bearing accounts, no hidden fees, ATM reimbursements, money market accounts

EverBank offers a yield pledge ensuring its rates remain among the top 5% of competitive APYs available, giving customers confidence they are getting strong returns.

EverBank provides premium banking solutions for both individuals and businesses, including:

-Yield Pledge Checking: No monthly maintenance fees, mobile check deposit, access to Zelle and online bill pay, and earn 0.25% APY on any balance.

-Yield Pledge Money Market: No monthly fees, easy access via checks and debit card, and introductory 4.75% APY on all balances with no minimum deposit.

-Yield Pledge Online Savings: No minimum balance or monthly fees, offering 5.00% APY on savings accounts.

-CDs: Available in terms from 3 months to 5 years with no monthly fees, 20-day advance notice for maturity, and rates ranging from 3.95% to 5.25%.

8. Capital One 360: Best for Online and In-person Banking

Savings: 4.25% APY
CDs: 6 to 60 months
Features: No minimum deposit or balance requirements, user-friendly mobile app, Zelle, 2,000 ATMs

For those who want both in-person banking options and online convenience, Capital One 360 offers a hybrid experience with access to 750 branches and over 2,000 ATMs.

Capital One 360 provides high-yield accounts with flexible access, including:

-360 Performance Savings: No monthly fees or minimum balance, earn 4.25% APY, use mobile check deposit, and automate your savings.

-360 Checking: Access 70,000+ fee-free ATMs, no monthly fees or minimums, early direct deposit, and cash deposits at participating retailers.

-360 CDs: Flexible term lengths from 6 to 60 months, no minimum balance, and interest can be paid monthly, annually, or at maturity.

-Kids’ Savings: Help children grow their money with 0.30% APY, no fees, and no minimum balance.

-MONEY Teen Checking: Open a joint account with your teen to teach money management, complete with parental controls, no fees, and no minimum balance.

9. Axos: Checking Account Selection

Savings: High APY
CDs: 3 to 60 months
Features: 24/7 customer support, daily compounded interest, user-friendly mobile app

Axos Bank offers a wide range of checking accounts and access to a large ATM network with 91,000 ATMs. The bank provides competitive APYs, cash back rewards, and minimal fees.

Axos Bank’s offerings include:

-Essential Checking: Get early access with direct deposit, unlimited ATM fee reimbursements, and no monthly maintenance or overdraft fees.

-Rewards Checking: Earn up to 3.3% APY on higher balances and let your money grow.

-Cashback Checking: Earn 1% back on debit card purchases up to $2,000 per month with no monthly maintenance fees.

-High-Yield Savings: Earn a high APY with no fees, digital money management tools, and no minimum balance requirement.

-High-Yield Money Market: Higher yields with access via debit card or checks; $1,000 minimum to open.

-CDs: Terms from 3 to 60 months with rates up to 0.20% APY, plus the ability to electronically transfer earned interest during the term.

10. LendingClub: Best Rewards Checking

Savings: 4.50% APY
CDs: 6 months to 5 years
Features: FDIC insured, no monthly fees, cash back options, high yields

LendingClub isn’t just for loans—it also offers strong banking products including high-yield savings, rewards checking, and CDs.

LendingClub provides options for customers seeking high-interest accounts without monthly maintenance fees:

-High-Yield Savings: Open with $100, no monthly fees, free ATM card, and earn 4.50% APY to grow your savings.

-Rewards Checking: Earn unlimited 1% cash back on debit card purchases, no monthly fees, ATM fee reimbursements, and 0.15% APY on balances.

-CDs: Competitive rates from 4.00% to 5.50% APY on terms ranging from 6 months to 5 years.

11. Varo Bank: Great Customer Service

Savings: Up to 5.00% APY
CDs: N/A
Features: 40,000 fee-free ATMs, Zelle, cashback on debit card purchases, no monthly fees

Varo Bank combines high-yield savings, cashback opportunities, early direct deposit, and transparent, no-fee banking.

Although fully online, Varo offers a strong ATM network and accounts designed to help you grow your money with ease:

-Checking: No monthly or overdraft fees, early access to direct deposit, and access to 40,000 fee-free ATMs.

-Savings: Earn up to 5% APY on balances up to $5,000, with automatic round-ups to boost your savings.

-Build Credit: Use the secured Varo Believe card to build credit with no interest or fees while establishing a solid credit history.

Final Thoughts: Best Online Banks for High APYs & Low Fees in 2026Conclusion

Choosing the right online bank depends on your financial goals, whether that’s earning high interest, accessing flexible checking accounts, or building credit. From high-yield savings accounts and competitive CDs to fee-free checking and cashback rewards, each of the banks listed here offers unique features tailored to different needs.

By carefully comparing APYs, fees, account features, and accessibility, you can select a bank that helps your money grow while providing convenience and flexibility. Whether you prioritize top savings rates, innovative mobile tools, or a combination of both, these online banks represent some of the best options available today.