14 high-yield savings accounts with no minimum deposits up to 5.30% APY

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 alexa casino 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.
Many of the high-yield savings accounts with no monthly fees don’t require direct deposit to earn the best APY, though a few accounts do (but are still well worth it). Both the checking and savings accounts are free from monthly maintenance fees, though you’ll need at least $100 to open a checking account. Some banks and credit unions charge monthly maintenance fees on checking and savings accounts to cover the cost of maintaining those accounts. Well, some high-yield savings accounts offer high returns and no minimums, allowing you to earn big interest without having a big deposit saved up. These no-minimum-deposit high-yield savings accounts could help you rake in the interest returns. We use several important factors to choose the best free checking accounts on the market.
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.
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.

• These no-minimum-deposit high-yield savings accounts could help you rake in the interest returns.
• They all come with no minimum deposits, no monthly fees, and there’s no minimum balance required.
• Ready to open a free checking account but unsure how to choose the best?
• When move-out charges apply, Obligo handles the payment flow digitally.
• We do prefer comprehensive options, though — institutions that make it easy to spend, save, invest, and plan from the same app.
• Plus, there’s no monthly maintenance fee to waive, and no minimum balance is required.

Investment vehicles

Online savings accounts typically don’t charge monthly maintenance fees, saving you up to $15 monthly, depending on the bank’s fees. Varo Bank makes it easy to save money by not charging any monthly fees or requiring minimum deposits. Western Alliance Bank, Member FDIC, has one of the most competitive high-yield savings accounts on the market, and it doesn’t have any account activity or maintenance fees.

We name the top accounts with no monthly fees and low (or no) minimum balance requirements.

• For those who want competitive rates on CDs and high-yield savings account it is a good option.
• 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.
• Chime makes it easy to make cash deposits and transfer money with its mobile app.
• 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.
• American fintech apps are well known for requiring no minimum deposits and waiving monthly maintenance fees altogether.
• To determine the best savings accounts with no monthly fees, we researched popular traditional and online banks, fintechs, and credit unions.

The Chime Checking Account boasts no monthly fees, no overdraft fees, and no foreign transaction fees. This guide explains what each account offers, what limitations to expect, and how to choose the best free online checking account for your needs. The accounts below charge no standard monthly maintenance fee and require no opening deposit.

Choose One of Your Personalized Deposit Options

Annual Percentage Yield is variable and subject to change at any time. The Bask Interest Savings Account offers one of the highest rates on this list and doesn’t charge a monthly maintenance fee. Some banks that offer exceptionally high APYs may have a minimum balance requirement to obtain the APY, but that doesn’t mean they charge fees.

But the reason we chose it for this list is that, in addition to regularly offering a good rate even when the market is in flux, this account is designed for quick, easy transfers to and from other accounts. Even though this account doesn’t have a minimum balance requirement to open and earn interest, it does require monthly deposits as one option to unlock the highest rate. SoFi Checking and Savings is a joint account that earns interest on your checking and savings balances, and it stood out in our research because you can earn interest on all your money. Switching to a savings account with no monthly fees will help you save money and grow your money faster. If your bank charges account fees, your savings account is losing money.
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.
Savings accounts from American Express, SoFi, and Capital One have $0 monthly fees, maintenance fees, or minimum balance requirements. To find the right savings account with no monthly fees for you, consider these factors. American Express is best known for its rewards credit cards, but it also offers several banking products, including checking and high-yield savings accounts. Find out what your top high-yield savings account options are now.
Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. 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. No minimum balance requirement and no monthly service charge.