Best Online Banks
Here is a list of the best online banks in the U.S. in terms of APY for savings accounts and CDs. The 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 included in the list are FDIC insured and serve customers nationwide. Find a great online bank and rates for savings accounts and CDs. Annual Percentage Yield (APY) is accurate as of February 2025 and subject to change at any time without notice.
| Company | Savings Account, APY | 1 Year CD, APY |
| LendingClub | 4.50% | 3.75% |
| Popular Direct (1) | 4.50% | 4.30% |
| FitnessBank (2) | 4.75% | NA |
| BrioDirect (3) | 4.55% | NA |
| Rising Bank (4) | 4.40% | 4.25% |
| Bask Bank (5) | 4.50% | 4.25% |
| First Foundation Bank | 4.50% | 4.00% |
| Jenius Bank | 4.50% | NA |
| Bread Savings (6) | 4.40% | 4.10% |
| Presidential Bank (MD) | 4.50% | 4.00% |
| My Banking Direct (7) | 4.45% | NA |
| Colorado Federal Savings Bank | 4.40% | 4.45% |
| CIBC Bank USA | 4.38% | 4.21% |
| Western Alliance Bank | 4.35% | 3.95% |
| CIT Bank | 4.35% | NA |
| EverBank (8) | 4.30% | 3.90% |
| TAB Bank | 4.26% | 4.21% |
| Barclays Bank | 4.25% | 4.10% |
| Bank5 Connect | 4.25% | 3.95% |
| Live Oak Bank | 4.20% | 4.40% |
| BMO Alto | 4.10% | 4.10% |
| Synchrony Bank (9) | 4.10% | 4.00% |
| ConnectOne Bank | 4.10% | 4.00% |
| UFB Direct | 4.01% | NA |
| E-Trade (10) | 4.00% | 4.25% |
| Sallie Mae Bank | 4.00% | 4.10% |
| DollarSavingsDirect (11) | 4.00% | 3.25% |
| Laurel Road | 4.00% | NA |
| SmartyPig (12) | 4.00% | NA |
| Marcus by Goldman Sachs (13) | 3.90% | 4.25% |
| USALLIANCE Financial | 3.90% | 4.25% |
| Quontic Bank (14) | 3.85% | 4.00% |
| Capital One 360 | 3.80% | 4.00% |
| Ally Bank (15) | 3.80% | 3.90% |
| American Express National Bank | 3.80% | 3.60% |
| SoFi | 3.80% | NA |
| Discover Bank | 3.75% | 4.00% |
| Citizens Access | 3.70% | 4.00% |
| First Internet Bank | 3.61% | 4.12% |
| Alliant Credit Union | 3.10% | 4.25% |
| PenFed Credit Union | 3.00% | 3.65% |
| Vio Bank (16) | 1.10% | 4.00% |
(1) - Popular Direct's products are provided by Popular Bank, the U.S. banking subsidiary of Popular Inc.
(2) - FitnessBank is a subsidiary of Affinity Bank. 4.75% APY when your average daily step count hits 12,500 (10,000 if 65+).
(3) - BrioDirect is powered by Webster Bank N.A.
(4) - Rising Bank, member FDIC, is the online division of Midwest BankCentre, a community bank headquartered in Saint Louis, Missouri.
(5) - Bask Bank, a digital subsidiary of Texas Capital Bank, offers online banking products with competitive rates and rewards.
(6) - Bread Savings was formerly known as Comenity Direct. Deposit products are provided by Comenity Capital Bank, member FDIC.
(7) - My Banking Direct is an online banking service of Flagstar Bank N.A.
(8) - EverBank (formerly TIAA Bank) is one of the top-rated online banks according to Bankrate, a consumer financial services company.
(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.
(10) - E*TRADE is a business of Morgan Stanley. Banking products are offered by Morgan Stanley Private Bank NA, member FDIC.
(11) - DollarSavingsDirect is a subsidiary of Emigrant Bank, member FDIC.
(12) - SmartyPig accounts are offered through Sallie Mae Bank, member FDIC.
(13) - Marcus by Goldman Sachs is an online platform of Goldman Sachs Bank USA.
(14) - Quontic Bank, located in Manhattan, New York City, has additional offices in Astoria, Melville, Flushing and Miami, Florida. It is one of only 3% of banks in the nation to earn a U.S Treasury CDFI designation
(15) - Ally Bank is one of the best online banks with checking and savings accounts, according to NerdWallet rating.
(16) - Vio Bank, located in Oklahoma City, OK, is the online subsidiary of MidFirst Bank, one of the biggest privately owned banks in the U.S.