You may have to pay third-party fees, like mutual fund transaction fees and charges for options contracts. All data is up to date as of Jan. 22, 2026, rates and fees subject to change. Factors (1) and (2) were weighted 0.5 times, factors (3) and (4) weighed 1.5 times, factor (5) weighed 3 times. All factors were then scored and combined, with the lowest score being the best.
Generally, these accounts are online and have limited branch access, but come with high annual percentage yields (APYs). If you’re looking for a savings account with no minimum deposit, there are plenty of options to choose from. Every account alexa casino below has no required opening deposit and no standard monthly maintenance fee. They all come with no minimum deposits, no monthly fees, and there’s no minimum balance required. The nbkc Everything Account combines checking and savings features in one interest-bearing account. Chime makes it easy to make cash deposits and transfer money with its mobile app.
For those who want competitive rates on CDs and high-yield savings account it is a good option. Synchrony Bank is good for those who want a variety of savings options, from high-yield savings account to CDs. Capital One offers fee-free checking and savings accounts, competitive interest rates and access to over 70,000 fee-free ATMs nationwide. Capital One stands out for its fee-free checking and savings options as well as its extensive ATM network. Bask Bank is ideal for those looking to park their savings in CDs or a high-yield savings account.

Best welcome bonus: SoFi Checking and Savings

The Online Savings account has a $0 minimum deposit and no monthly maintenance fees. Current may suit customers who also want credit-building tools, while Chime and Varo provide simple mobile banking without monthly maintenance fees. American Express Rewards Checking has no minimum opening deposit, monthly account fee, or minimum balance requirement.
The Schwab Bank Investor Checking account has no minimum opening deposit, monthly service fee, or minimum balance requirement. There’s no minimum opening deposit, monthly account fee, or minimum balance requirement. Overdraft coverage is automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in eligible direct deposits within a rolling 31 calendar day period on a recurring basis. Some banks that don’t charge monthly maintenance fees compensate for it with other fees. The point of a no-fee savings account is to avoid monthly maintenance fees.

Schwab Bank

• To find the best checking accounts with no monthly maintenance fees, CNBC Select analyzed dozens of accounts offered by brick-and-mortar banks, credit unions and online institutions.
• See our methodology for more information on how we choose the best free stock-trading platforms.
• MySavingsDirect’s MySavings Account has no minimum opening deposit or balance requirement, making it a smart option if you don’t have a lot to deposit.
• And, there are lots of interest-bearing account types to choose from, including certificate of deposit (CD) accounts, money market accounts, regular savings accounts and high-yield savings accounts.
• American fintech apps are well known for requiring no minimum deposits and waiving monthly maintenance fees altogether.
• No monthly maintenance fees, overdraft fees, or minimum balance to earn interest

The account can be opened entirely online from either desktop or mobile app, making it a convenient and easy way to start banking at low cost. The 360 Checking Account provides US residents with a bank account with no monthly fees, no international transaction fees, and no opening or minimum deposit. Once you’re signed up, Chime will charge you no monthly fees¹ and give you a panel of features, including overdraft on debit card purchases and cash withdrawals⁵ offered via a special optional service called SpotMe®. Chime® is an excellent mobile finance app with no monthly fees¹! APYs are subject to change at any time without notice.

• Generally, these accounts are online and have limited branch access, but come with high annual percentage yields (APYs).
• Every account below has no required opening deposit and no standard monthly maintenance fee.
• However, brick-and-mortar institutions are more likely to charge monthly maintenance fees or require certain conditions to waive them.
• The Ally Bank Spending Account has no minimum opening deposit, monthly maintenance fee, overdraft fee, or minimum balance requirement.
• Many high-yield savings accounts available today have no minimum opening deposit requirements.
• Chime is a mobile-first financial app that merges the low cost of online checking and savings accounts with the convenience of truly on-the-go money management.
• Our fee policy is subject to change at any time.

Compare high-yield savings accounts with no monthly fees

That makes it easy to get off the ground and start earning right away. Quontic High Interest Checking makes earning category-leading interest on eligible checking account balances easy. Chime is a mobile-first financial app that merges the low cost of online checking and savings accounts with the convenience of truly on-the-go money management. Axos ONE transforms free checking by bundling high-yield checking and savings into a single, zero-fee package. Credit Karma Checking is an online checking account that’s free to open — with no penalties, overdraft fees or minimum balance requirements.
If you want to keep your checking and savings accounts under one roof, we recommend SoFi®. To help you find the right fit, we identified the best savings accounts with no monthly fees. If your bank charges account or maintenance fees, it’s time to switch so those fees don’t hurt your progress.

American Express

The Ally Spending Account is an FDIC-insured checking account with no monthly fees or minimum balance requirements. To find the best checking accounts with no monthly maintenance fees, CNBC Select analyzed dozens of accounts offered by brick-and-mortar banks, credit unions and online institutions. However, brick-and-mortar institutions are more likely to charge monthly maintenance fees or require certain conditions to waive them. No monthly maintenance fees, overdraft fees, or minimum balance to earn interest Online banks often offer high-yield savings accounts with rates averaging between 3.50% and 4.50%. The savings account requires a $0 minimum deposit, no monthly maintenance fees and has a competitive APY.

When choosing from the best free bank accounts, it’s important to take your time and choose wisely. Ready to open a free checking account but unsure how to choose the best? These days, even “traditional” banks make it easy to open free checking accounts online. At many banks, you must pay a monthly maintenance fee to keep your checking account open.

Why you should avoid minimum balance requirements for savings accounts

Marcus by Goldman Sachs offers a high-yield savings account with no fees or no minimum deposit. CloudBank 24/7 should also be on your list if you’re looking for a fee-free high-yield savings account. The high-yield savings account from Customers Bank pays 11 times the national average savings rate. It’s another solid choice if you’re looking for competitive interest rates and no monthly fees. Once you add your minimum opening deposit of $500, you’ll start earning the full APY on all your funds.