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The best bank and credit union for you will depend on your banking needs, but in general, the best banks offer accounts with low or no minimum balance requirements and don’t charge monthly fees — or at least allow you to waive them.
They also tend to have helpful technology and offer customers high-yield savings accounts and certificates of deposits (CDs) with competitive yields to help your savings stay ahead of inflation.
Best for unlimited ATM refunds: Axos Bank
Best for cash-back checking rewards: LendingClub
Best for online/in-person hybrid: Capital One
Best for all-in-one banking: Ally Bank
Best for extra FDIC insurance: SoFi
Best online credit union: Alliant Credit Union
Best for high-yield checking: NBKC Bank
Best mobile app: UFB Direct
Best for consolidated banking and investing: E*TRADE
Best checking/savings combo: Bask Bank
Bankrate’s picks for best banks and credit unions of 2026
What Axos Bank lacks in certificates of deposit (CDs) and money market accounts, it more than makes up for in its solid checking and savings accounts. In addition to its three checking and two savings accounts, Axos offers access to a teen checking and savings account along with ways to borrow and invest.
Unlimited ATM fee reimbursements: On top of having access to over 90,000 fee-free ATMs, Axos Bank offers unlimited out-of-network ATM fee reimbursements for its Essential and Rewards checking accounts.
No balance requirements or monthly fees: Axos checking and savings accounts don’t have minimum balances and charge $0 in monthly fees.
Support all day (and night): You can get support from an Axos customer service agent 24/7.
LendingClub — soon to be renamed Happen Bank — is another completely online option. It has a number of products available, including high-yielding CDs, checking and savings accounts. Like other top banks on our list, it offers a number of perks, including low fees and no minimums.
LevelUp Checking interest and rewards: You will need at least $2,500 in your checking account to earn the 1.00% APY, but there is no minimum balance to earn 1.00% to 2.00% cash back on eligible purchases and payments.
No monthly fees or minimums: LendingClub has $0 minimums to open an account and no monthly fees, but the savings account does require monthly deposits of at least $250 to earn the best rate.
Fee-free ATM access: LendingClub uses the MoneyPass ATM network to give you access to your funds for free. On top of the large network, LendingClub provides unlimited ATM fee reimbursements.
Savings account, checking account, CDs, loans, investing, business accounts
Capital One is one of the largest banks in the U.S., and provides a whole suite of products. In addition to its CDs and checking and savings accounts, it offers credit cards, loans and business products. And, unlike many big banks, Capital One offers a solid yield on its savings account.
Hybrid service: Capital One has branches and cafes across the U.S. that allow you to access and get help with your account in person in addition to online account access.
ATMs available across the country: Because it’s part of the Allpoint and MoneyPass ATM networks, you’ll have access to over 70,000 fee-free ATMs.
Fee-free checking and savings: You won’t encounter any monthly fees or minimum balance requirements for Capital One’s 360 checking and savings accounts. There also aren’t any overdraft fees.
Savings account, checking account, CDs, credit cards, loans, business accounts
Ally Bank is an online bank and a digital leader offering the full suite of deposit products, all with competitive rates, making it a great option for those looking to consolidate their finances under one roof. And even if you’re interested in just one or two accounts, yields at Ally tend to always be competitive — even if they’re not always the highest — so you can trust you’re getting a competitive rate.
Most of what you need in one place: Ally Bank offers savings, checking and money market accounts along with CDs, credit cards, auto loans and ways to invest.
Specialty CDs available: Ally offers a number of CDs including no-penalty and bump-up options.
Minimal fees: Monthly maintenance, overdraft, standard checks, and transfers all cost $0 for Ally’s checking account.
SoFi was originally known for its student loan products, but has since expanded to offer some banking products, including a checking account and high-yield savings account. While there aren’t a lot of options, what is available is top notch.
Extra FDIC insurance: SoFi partners with other institutions to offer up to a total of $3 million in FDIC coverage.
Checking earns interest: You can earn 0.50% APY on your entire checking balance with SoFi.
Savings tools: SoFi requires that a savings account be opened with its checking account, but the linked accounts have a number of tools. In addition to optional purchase roundups, you can create buckets for specific savings goals.
Savings account, checking account, credit cards, loans, business accounts
Despite being a credit union, Alliant makes it easy for anyone to join even if you’re not eligible through your employer or your location. You can join the Alliant Credit Union Foundation for $5, and Alliant will pay it. Membership has its benefits, too. Alliant offers an interest-bearing checking account with monthly ATM fee rebates, CDs with solid yields and the option to house many of the financial products that keep your life running smoothly in one place.
Generous membership options: While most credit unions have regional requirements, anyone in the U.S. can join Alliant.
Solid checking account: Checking with Alliant comes with $0 monthly service and overdraft fees, along with 0.25% APY on all balances. Alliant also offers early direct deposit access, up to two days.
Fee-free ATM access: Alliant offers up to $20 in ATM fee reimbursements per month. You might not need to take advantage of it though — you’ll have access to over 80,000 fee-free ATMs.
While NBKC Bank is an oddity in that it doesn’t have an account specifically branded as “savings” alone, it does offer an Everything Account that acts as a high-yield checking account. It also has a money market account along with standard and IRA CDs. All banking can be done online and through ATMs, but there are also branches available in Kansas City for those who want to talk with a banker.
High-yield checking: NBKC offers a 1.75% APY on all checking account balances above $0, regardless of how much you keep in the account.
Large ATM network and rebates: You’ll have access to over 90,000 fee-free ATMs globally. If you still land at an out-of-network ATM, NBKC reimburses ATM fees — up to $12 a month.
No monthly fees: NBKC doesn’t charge monthly fees for its CDs or checking or money market accounts.
UFB Direct is a completely online option that offers checking, savings and money market accounts. It is unique in that it is one of a handful of banks that offers greater APYs when you hold both a checking and savings account with it. The downside is that to open a checking account, you’ll need to also open either a savings or money market account.
Earn on your checking balance: You’ll earn 2.00% APY on your checking account balance with UFB Direct.
Mobile banking: Many banks offer mobile-friendly sites and apps, but UFB Direct takes it a step further. In addition to online banking, you can text to access your account information instead of using an app if needed.
Solid savings APYs: Even without the rate boost, UFB Direct offers a solid savings APY for both its savings and money market accounts. There are also no monthly maintenance fees to eat into your earnings.
E*TRADE from Morgan Stanley Private Bank offers a number of checking and savings accounts — but it doesn’t stop there, it also has a number of trading and investing options. With E*TRADE you can choose from stocks, options, mutual funds and more when building your investing portfolio.
Banking and investing under one roof: E*TRADE offers a huge suite of investing options that you can take advantage of alongside your spending and savings accounts.
No minimums or monthly fees on most accounts: There are no monthly fees or balance minimums for three out of four accounts. The Max-Rate checking account requires an average monthly balance of $5,000 to avoid a $15 monthly fee, but you’ll earn 2.00% APY on your balance.
Unlimited nationwide ATM fee refunds: Regardless of if you have a Max-Rate or standard checking account with E*TRADE, you’ll be protected from third-party ATM fees within the U.S. For Max-Rate checking account holders, you’ll receive unlimited ATM fee reimbursements worldwide.
Bask Bank the online division of Texas Capital Bank — a large Texas-based bank with branches across the state. You won’t find too many frills at Bask Bank, but you can get a competitive APY on both a checking and savings account with no hoops to jump through for either APY. If you have some funds that you can afford to stash away for a few months, Bask also offers CDs with solid APYs.
High yields with no monthly fees: There aren’t any monthly fees needed to get high APYs for Bask’s checking or savings accounts.
Large number of fee-free ATMs: Bask Bank is part of the Allpoint network, giving you access to over 55,000 fee-free ATMs across the U.S. If you are mistakenly charged a fee at an Allpoint ATM, Bask Bank will refund it.
Solid CD APYs: You can get a competitive APY on CDs from three months to two years with Bask Bank.
Savings account, checking account, CDs
Bank and credit union interest rate trends
When looking for the best APY for your savings, it helps to know where rates are — and where they’re trending. Currently, top savings rates hover around 4.20% APY; those rates have been slowly trending down over the past year.
In part, rates move in a similar direction as the federal funds rate — or the rate at which banks borrow from each other. When the Federal Reserve cuts the fed rate, and sometimes when it holds steady, savings rates will fall as well. The falling rate environment then can, at least partially, be tied to the cuts the Fed made in the back half of 2025, even though they have held steady since.
How to choose the best bank or credit union for your needs
1. Determine what matters most to you
A great savings rate may be a given, but you should draw up a list of other non-negotiables and features you would rather not do without. Consider:
Monthly maintenance fees and if there are manageable ways to avoid them.
Whether you need in-person service or want to do all your banking online.
How you want to access your money, including whether you regularly need cash.
Customer service hours that align with when you’ll have time to address any questions.
Budgeting tools that fit with how you want to manage your money.
If you want to do all of your banking in one place, shop around for banks and credit unions that check off everything in your must-have column, and ideally most of your nice-to-haves. If you don’t mind banking in multiple places, you can mix and match by checking out the best savings accounts and best checking accounts separately. Just make sure you don’t make it too difficult to track where your money is.
3. Keep your money safe with FDIC or NCUA protection
Any institution you bank with should provide insurance. Banks typically insure balances with the Federal Deposit Insurance Corporation (FDIC) while credit unions rely on the National Credit Union Association (NCUA) to administer the insurance fund.
Both forms of insurance provide the same amount of deposit protection: up to $250,000 per depositor, per institution, per ownership category. Depending on your bank, you may be able to get balances over the typical amount insured through a process where deposits are spread out to other banks in a network. An example of this is that SoFi works with other banks, such as Sallie Mae and Citibank, to get coverage up to $3 million.
4. Triple check for fees and requirements
You may have had low or avoidable maintenance fees on your checklist when picking institutions, but you’ll also want to look for manageable balance requirements to get the APYs you want and low or no fees for other services you frequently use. If personal or cashier’s checks are a regular part of your banking, you’ll want to avoid banks and credit unions that charge an exorbitant amount for either.
Credit unions vs. banks
Both credit unions and banks offer a variety of financial products, including checking, savings, money market accounts and certificates of deposit, though credit unions typically refer to CDs as “share certificates.” The differences come down to how you interact with your finances.
Credit unions
Banks
Not-for-profit organizations
For-profit
Personalized service
More advanced technology
Lower loan rates
Membership not required
Community-focused benefits
Larger network of branches
If both have aspects that are important to you, you don’t have to pick one completely over the other. It can simplify your finances to have everything under one roof, but it’s not completely necessary if you want to do your everyday banking with one and one-off products like personal loans or mortgages with the other.
Bankrate staff insights
After more than 20 years of banking at a credit union, Katie Lowery, a senior editor at Bankrate, made a switch to a traditional bank. While she still uses her credit union account for some payments, including recurring subscriptions, she’s glad to have made the switch to a large national bank.
“I joined my credit union during my time as a student at the University of Texas at Austin,” Lowery says. “By 2024, I was frustrated with the credit union’s bare-bones technology options and diminishing customer service. The mobile app was very buggy and slow, and the transaction history was a day or two delayed compared to the website.”
Lowery decided to go with a large national bank because of their mobile technology and easy branch access, both of which she felt were lacking from her credit union.
“All of this said, I believe strongly in the mission of credit unions, and although I am no longer using an FCU for my everyday needs, I intend to maintain my relationship with them,” Lowery says. “I appreciate the sense of community and member-owned nature of credit unions. And although they often don’t have the highest yields available on savings accounts, their loan rates can’t be beat!”
Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
We score these institutions based on their product offerings (savings, checking accounts, CDs and money market accounts), APYs, fees, minimum deposit requirements, funds access, digital features and more.
Alliant Credit Union, Ally Bank, Alto, America First Credit Union, American Express National Bank, Axos Bank, Banesco USA, Bank of America, Bank5 Connect, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, BTG Pactual, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Connexus Credit Union, Credit One Bank, Customers Bank, Discover Bank, E*TRADE from Morgan Stanley, Emigrant Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Golden 1 Credit Union, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Quontic Bank, Quorum Federal Credit Union, Regions Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, State Employees’ Credit Union, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank
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