Here is a list of the best online banks in the United States. Online banks generally offer higher interest rates and lower fees than traditional savings institutions, but direct banks don’t have own ATMs, which could mean extra charges for withdrawing cash. The Banks are FDIC-insured and serve customers across the country. Rates are accurate as of February 25, 2020 and subject to change without notice.

Company Savings Account, APY 1 Year CD, APY
 Rising Bank (1) 1.90% 2.15%
 Comenity Direct (2) 1.90% 2.10%
 TAB Bank 1.90% 2.05%
 Quontic Bank (3) 1.90% 2.05%
 5Star Bank 1.99% 1.51%
 Popular Direct (4) 1.90% 1.80%
 Live Oak Bank 1.85% 2.15%
 Bank5 Connect 1.85% 2.00%
 Citizens Access 1.85% 2.00%
 WebBank (5) 1.86% 1.95%
 HSBC Direct 1.85% 1.90%
 Vio Bank (6) 1.85% 1.65%
 CIBC USA 1.85% 1.65%
 Salem Five Direct (7) 1.85% 1.50%
 Marcus by Goldman Sachs (8) 1.70% 2.05%
 Synchrony Bank (9) 1.70% 2.00%
 Ally Bank 1.60% 2.00%
 ableBanking 1.85% 2.20%
 Northpointe Bank 1.85% 1.75%
 ConnectOne Bank 1.82% 1.71%
 MutualOne Bank 1.81% 0.65%
 DollarSavingsDirect 1.80% 1.80%
 Sallie Mae Bank 1.70% 2.10%
 Barclays Bank 1.70% 2.00%
 PurePoint Financial 1.70% 1.90%
 Capital One 1.70% 1.90%
 Colorado Federal Savings Bank 1.70% 2.03%
 Discover Bank 1.60% 2.00%
 Northfield Bank 1.65% 1.25%
 Nationwide by Axos Bank 1.30% 1.75%
 First Internet Bank 1.11% 1.87%
 TIAA Bank 1.10% 1.60%

(1) - Rising Bank, Member FDIC, is the online division of Midwest BankCentre, a community bank headquartered in Saint Louis, Missouri.
(2) - Comenity Direct is a division of Comenity Capital Bank.
(3) - Quontic Bank, located in Manhattan, New York City, has additional offices in Astoria, Melville, Flushing, and Miami, Florida. It is one of only 2% of banks in the United States to earn a U.S Treasury CDFI. Quontic is Top Online Bank of 2020 according to Bankrate.
(4) - Popular Direct is a division of Banco Popular North America, a member of intrenational company Popular, Inc (San Juan, Puerto Rico).
(5) - WebBank Inc, headquartered in Salt Lake City, Utah, is a state-chartered industrial bank and subsidiary of WebFinancial Holding Corporation.
(6) - Vio Bank, located in Oklahoma City, OK, is an online subsiduary of MidFirst Bank, one of the biggest privately owned banks in the U.S.
(7) - Salem Five Direct operates as a subsidiary of Salem Five Cents Savings Bank, a mutual bank headquartered in Salem, Massachusetts.
(8) - Marcus by Goldman Sachs is an online platform of Goldman Sachs Bank USA.
(9) - Synchrony Bank (formerly GE Capital Retail Bank), based in Draper, Utah, is a major issuer of store credit cards linked to well-known brands including eBay, PayPal and Amazon.