Updated · January 14, 2026

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2026 banking awards: Top-ranked accounts for savings and checking

Written by Richard Barrington

Financial Expert

Edited by Jennifer Doss

Managing Editor

The beginning of the year is a good time to take stock of the financial services you use. When it comes to savings and checking accounts, finding the right one can make a difference of hundreds of dollars a year.

While individual banking needs vary, MoneyRates helps you navigate your choices by identifying savings and checking accounts with the most competitive terms. In partnership with MyBankTracker.com, we analyzed a broad cross-section of institutions—representing over half of all U.S. deposits—to pinpoint these top performers.

Our analysis highlights the following top-tier accounts. Although rates and terms are subject to change, these banks are recognized for industry-leading interest rates and minimal fees. Use these benchmarks to evaluate your current bank and see if a switch could improve your financial outlook.

Best bank overall

Although savings and checking accounts serve different purposes, many consumers prefer to manage both at a single institution. To determine which bank offers the best dual-account experience, we averaged the rankings for both categories.

Capital One emerged as the top-ranked bank overall. It secured the #1 spot for checking and earned a place among the top 15 savings accounts. This balance makes it an ideal choice for customers seeking competitive terms across all their primary banking needs.

Choosing a savings account

If you look at savings account advertisements, it’s all upside. In other words, they feature what you get out of the account in the form of interest. However, while banks love to advertise the annual percentage yield (APY) they offer, in many cases there is also a cost to these accounts.

There’s been a trend towards more savings accounts charging monthly maintenance fees. In many cases, these fees can exceed the interest you’d earn on the account. This is especially true at very large banks, which generally offer lower interest rates and are more likely to charge monthly fees.

We prioritized APY when evaluating savings institutions. Notably, every bank in our top 15 list offers an interest rate at least eight times the national average. However, the MoneyRates analysis also accounts for fee structures, ensuring that high yields aren’t negated by hidden costs.

Key tip for choosing a savings account: When comparing savings accounts, figure out the net impact of both the APY and any fees based on the amount you intend to deposit. That will give you an idea of the true benefit – or cost – of the account in your situation.

Top savings accounts of 2026

Here are the top-tier savings accounts identified by our analysis:

1. Axos Bank: This was a clear winner because it had the highest APY in the survey and does not charge a monthly fee. The only catch to that high APY is that it only applies to the first $3,000,000 in each account. Still, that’s not something that will affect the vast majority of bank customers.
2. Openbank: This bank’s savings account came in just behind Axos when it came to APY, and it also charges no monthly fee. The $500 minimum deposit requirement should be manageable for most savings account customers.
3. Valley Bank: Thanks to a special offer, this was one of four banks in the survey with an APY of 4% or better. It also had no monthly fee, but there is a $1,000 minimum deposit.
4. Western Alliance Bank: This Southwestern bank combines a high APY, no monthly fee, and a reasonable $500 minimum deposit.
5. Barclays Bank: A winning combination of strong APY, no monthly fee and no minimum account size.
6. Believe Savings: This division of Regent Bank offers a high-APY, no-monthly-fee account.
7. E*TRADE: Brokerage accounts are not generally covered by deposit insurance. However, E*Trade is part of Morgan Stanley Private Bank, which allows them to offer FDIC insurance along with their high APY.
8. Community Savings Bank: With over 200 locations, this might be a good option for customers seeking a high APY from a branch-based account.
9. Quontic Bank: This online bank offers a competitive APY with no monthly fee and a minimum deposit of just $100.
10. CIT Bank: The $5,000 minimum deposit may be too steep for some customers, but those who can afford it are rewarded with a good APY and no monthly fee.
11. Marcus by Goldman Sachs (tie): With identical APYs, no monthly fees and no minimum deposit requirement, there was really nothing to separate the savings accounts from Marcus and Synchrony.
12. Synchrony Bank (tie): For the reasons given above, this was ranked equally with the Marcus account.
13. Capital One Bank: A competitive APY and no monthly fee, with branch-based options available from over 250 locations.
14. American Express Bank: While they are best known as a credit card company, they also have an FDIC-insured bank. This savings account has a well-above-average APY, no monthly fee, and no minimum deposit.
15. BMO: A recurring theme among top banks is having a competitive APY with no monthly fees. BMO gives consumers another choice with that winning combination.

See more: The best savings account rates of January 2026

Best online savings account

If you’re looking for online banking, based on the above list, the top choice would be Axos Bank. They offer online accounts and have the top APY with no monthly fee or minimum account size.

Best branch-based savings account

For customers who prefer to bank in person, Western Alliance Bank offered the best APY among accounts available at a substantial number of locations. Note that the rates offered by banks sometimes differ according to location, so check to see the rate offered by your branch before signing up.

Choosing a checking account

The interest rate offered by checking accounts is usually negligible. As of December 2025, the national average rate was 0.07%. So, when choosing a checking account, the focus should be squarely on fees.

Monthly maintenance fees are generally the most important fees, because they are charged regardless of how you use the account. However, if you’re likely to overdraft your account now and then, overdraft fees should also be a consideration. Some banks have eliminated these, but others still charge hefty fees each time you overdraft your account.

Key tip for choosing a checking account: Figure out what the account is likely to cost you based on how you’ll use it. So, along with factoring in any monthly maintenance fees, take note of overdraft fees and any other charges that might apply to how you’ll use the account. These may include ATM fees, wire transfer fees, paper statement fees, and any others.

Top checking accounts of 2026

The following 15 checking accounts earned the highest marks in the MoneyRates analysis:

1. Capital One 360 Checking (tie) – This account shares the top spot with the Found Business Checking account because they both have no monthly fees, no overdraft fees, and no minimum deposit requirement.
2. Found Business Checking (tie) – While the Capital One account caters primarily to individuals, this is an equally cost-effective option for those seeking a business checking account.
3. BMO Smart Advantage – This account has no monthly or overdraft fees, and the $25 minimum deposit is not a substantial obstacle.
4. First Internet Bank (tie) – This is part of a three-way tie for fourth place among accounts with no monthly or overdraft fees and a $100 minimum deposit requirement.
5. Truist Bank Business (tie) – Besides this business account, Truist also offers an account for individuals that ranked 14th on this list.
6. U.S. Bank (tie) – This has identical terms to those described above for the First Internet Bank.
7. Huntington Bank Asterisk-Free Checking (tie) – This account and the M&T Bank account listed below both have no monthly fee and a $15 overdraft fee.
8. M&T Bank EZ Choice Checking (tie) – Not only does this account have the same terms as the Huntington Bank account described above, but both banks offer over 1,000 locations.
9. Fifth Third Bank Momentum Checking – This account has no monthly fee. The $35 overdraft fee is on the high side, but that won’t affect all customers.
10. Bank of America – This bank charges a $4.95 monthly fee for checking, though it’s waived if you keep at least $500 in the account.
11. PNC Bank Simple Checking – At $5, this account’s monthly fee is just a nickel more than Bank of America’s.
12. Citizens Bank One Deposit – This bank has over 900 branches, and banks with extensive branch networks are often more expensive than purely online banks. This account will cost you a $9.99 monthly fee plus $12 for overdrafts.
13. Wells Fargo – The $10 monthly fee on this account is waived if you maintain a balance of at least $1,500, plus this account doesn’t have overdraft fees.
14. Truist Bank Retail – This account has a $12 monthly fee, but does not charge for overdrafts.
15. U.S Bank – This bank has over 2,000 locations, though some might find its $12 monthly fee and $12.50 overdraft fee too costly.

See more: The best checking account rates of January 2026

Best online checking account

This survey rated the Capital One 360 account and the Found Business Checking account as tied for best checking options overall. Since both are available online, they are also tied as the best online checking account.

Best branch-based checking account

By having over 250 locations in addition to offering the best checking account terms, the Capital One 360 account was also rated as the best branch-based account. However, account terms can vary by location. If you’re opening an account at a branch, you should check the terms carefully before signing up.

Methodology

MoneyRates and MyBankTracker looked at a cross-section of savings and checking accounts from large, medium, and small institutions. The sample included the 20 largest banks by U.S. deposits as well as several other institutions. The total deposits represented by the sample represent more than half of all U.S. bank deposits.

Ranking criteria included coverage by federal deposit insurance. Savings accounts were also evaluated based on APY, monthly fees, and the minimum balance required for a fee waiver. Checking accounts were evaluated based on the monthly fee, overdraft fees, the minimum balance required to qualify for a fee waiver, and the minimum deposit amount.