The Best Savings Accounts in Oklahoma for 2024

Oklahoma is home to numerous banks and credit unions, and the state is also served by online banks. Compare the best savings accounts in Oklahoma and see which ones offer the best rates and the lowest fees, and put your money to work for you.
Written by Shannon Lee
Financial Expert
Managing Editor
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Oklahoma has a long history of banking. According to the Oklahoma Historical Society, when it was known simply as the Oklahoma Territory, local merchants performed the role of bankers.

But when the territory was opened to settlers with the famous land run of 1889, nine banks were established within a matter of days.

One of those, what would eventually become the First National Bank of Oklahoma City, moved into a building at the corner of Main and Broadway, thus creating what today is now the center of banking in the Sooner State.

Today, that banking tradition in Oklahoma continues with traditional banks, online banks, and credit unions.

They offer a wide variety of financial products, including some of the best savings accounts in Oklahoma.

Let’s take a look at savings accounts in Oklahoma.

The Best Savings Accounts in Oklahoma

  • SFGI Direct Savings
  • Ally Bank
  • Synchrony Bank
  • Citi
  • Oklahoma State Bank
  • MidFirst Bank

Find Banks With the Best Savings Account Rates

Explore savings accounts at online and traditional banks and find the best rate and terms for you. Compare savings account rates, fees, security, and more.

Online Savings Accounts Available in Oklahoma

Oklahoma is home to numerous online banking options. Let’s look at some of the best for high-yield accounts.

SFGI Direct Savings

There are no monthly service charges with SFGI Direct Savings, and you can expect to begin earning interest on as little as one dollar — there is no minimum requirement to begin earning.

However, you do need a minimum opening deposit of at least $500 and no more than $25,000.

There are some fees assessed for special issues, such as requesting a paper statement or having research done on a debit.

Expect good customer service six days a week during normal banking hours.


  • Start earning interest on as little as $1
  • Strong customer service
  • It’s easy and fast to open an account


  • Non-transparency of fees
  • A starting balance of $500 is required

Ally Bank

A unique entry into the online banking world, Ally Bank requires no minimum deposit or balance and offers excellent customer service, as many other banks do.

Ally branches out with robust online calculators and savings solutions that make it easier to understand your money and use it wisely.

Customer service is available 24/7, and those with over $25,000 get the highest interest rates.


  • Regular promotions allow you to earn cash
  • Unique savings tools and calculators
  • 24/7 customer service via phone


  • Tiered interest means higher interest for over $25,000
  • No branch access

Synchrony Bank

With no fees, no minimum balance, and no minimum deposit, Synchrony Bank makes handling your money rather worry-free.

Expect tiered interest with this account. Customers who deposit higher amounts of money will get the highest interest.

No matter how much money you earn, you can always withdraw your cash easily through any ATM that is branded with the Plus or Accel logo (and that’s a lot of them across the country).

Online and mobile apps make it easy to move money around.


  • Up to $5 refunded on ATM surcharges for non-branded machines
  • No minimum balance required
  • No monthly maintenance fees


  • Tiered interest that pays more to higher amounts
  • Mobile app is adequate but not as robust as other banking apps


Known for its credit cards, Citi now offers the Accelerate Savings Account, with no minimum required to open.

There is a monthly service fee that can be waived through certain actions, such as carrying a minimum $1,500 daily balance or linking your Citi checking to your savings account. The mobile and online presence is strong, and there is no limit to earnings through the savings account. ATMs are widely available.


  • Finding branded ATMs is easy for most customers
  • Unlimited earnings
  • Bank branches are available in some areas


  • Monthly fee for balances under $500
  • Minimum balance of $100 required

A Look at Local Oklahoma Banks

Larger online banks might be convenient for those who want to handle everything online, but what if you want a more personal touch?

Local banks and credit unions in Oklahoma offer strong customer service as well as the financial products you’ve come to expect from a reputable institution.

Here are two favorites in the state.

Oklahoma State Bank

At Oklahoma State Bank, the basics of a savings account — including online bill pay, mobile access, eStatements, and mobile deposit — are always free

The savings account requires a minimum of $25 to open, has no monthly service charge, and even allows for free paper statements.

If you travel, there is no foreign transaction fee for ATMs.

The special youth savers account designed for those under the age of 18 provides the same benefits yet usually even higher interest, so it pays to get the kids involved too.


  • Numerous branches and ATM locations
  • No foreign transaction fee at ATMs
  • Free paper statements


  • Not as many bells and whistles as you might find with other banks

MidFirst Bank

With 77 locations across Oklahoma, California, Arizona, and Colorado, it’s easy to find a MidFirst Bank branch or ATM if you’re traveling across the southwest.

The performance savings account can start with a $100 minimum deposit and requires a $250 daily balance to avoid the $4 monthly service fee.

Interest is compounded daily and paid monthly.

Summit Savings is much the same but requires a $10,000 daily balance to avoid the $15 service fee and offers tiered interest rates.


  • Several savings options
  • Many branches and ATM locations


  • High daily minimum balances
  • A monthly service fee is assessed

How We Picked: Methodology

MoneyRatespiled its list of the best savings accounts in Oklahoma by analyzing savings accounts at national banks, regional banks, online banks, and local credit unions and banks in several Oklahoma cities, including Tulsa, Oklahoma City, and Norman.

We took a close look at the most updated interest rates being offered on savings accounts at over 25 banks, along with flexibility, accessibility, requirements for opening and maintaining an account, fees, ATM access, and ease of use of mobile banking apps and websites.

The best savings accounts reflect bank APYs and market conditions at the time of our analysis. Banks can and do change their savings account rates and terms on a regular basis, so you should check with Oklahoma banks directly to see what they currently offer.

How to Choose a Savings Account in Oklahoma

Every bank and credit union in Oklahoma will offer something a little different for your financial needs.

Here are the key points you should compare when choosing the best savings account in Oklahoma for you.

Opening Deposit

Some banks require no opening deposit at all but give you one statement cycle to add enough money to meet your daily minimum balance requirements (if any).

Others might require a higher opening deposit.

Look for a bank that requires an amount you are comfortable with depositing.

Interest Rates

Though the good interest rate on a high-yield savings account matters, keep in mind that the interest is not guaranteed; it can change very quickly, depending upon market fluctuations.

Look for a bank that offers you interest in everything you deposit, not just tiered savings rates that benefit those who deposit $25,000 or more.


Does always having access to your money matter to you? In that case, look for a bank that offers an ATM card.

Some don’t have ATM cards for savings accounts but allow you to move your money around freely through the online or mobile app.


Though some banks still charge fees, most of them give you an option to waive those fees.

Perhaps you must enroll in direct deposit or keep a minimum daily balance.

Look for ways to waive the monthly fee and look for additional potential fees, such as those for paper statements.

Customer Service

If you are quite comfortable with handling your money on your own with no intervention from anyone else, a bank that allows you to do everything online might be your best bet.

But if you need a personal touch, go with a bank that has local branches or at least one that offers robust phone support.

Where Can You Open a Savings Account in Oklahoma?

You can find excellent savings accounts at traditional banks, online banks, and credit unions. Let’s look at what each one brings to the table.

Online Banks

Online banks are similar to traditional banks without actual physical buildings. However, some online banks are offshoots of traditional banks.

Some online banks focus on only a few products, while others are full service.

Online banks rarely have a community presence, so all your money issues must be handled virtually; in many cases, even customer service is chat-based.

However, the robust mobile apps and online presence make it easy to move money around. Most online banks are FDIC insured.

Traditional Banks

These banks usually have a strong community presence, including a brick-and-mortar bank and various branches throughout the local area, state, or even the nation.

They often have their own branded ATM machines or partner with names like Plus and Accel to extend their ATM reach.

They offer everything from car loans and mortgages to savings accounts, checking accounts, certificates of deposit, and other investment vehicles.

They might have strong customer service, mobile apps, and an online presence. They are insured by the FDIC.

Credit Unions

These institutions work just like traditional banks, but the big difference is that the account holders are members of the credit union and get special benefits, such as higher interest rates or additional dividends.

Credit unions have a wide range of products available and offer some flexibility in negotiating interest and the like.

However, they have fewer branded ATMs and often not as many branches.

Some have a strong online presence; others don’t. They are insured by the NCUA.

Oklahoma Savings Accounts versus Money Market Accounts

During your research for the best savings accounts in Oklahoma, you might come across other options that appeal to you, such as money market accounts or certificates of deposit.

Money market accounts, or MMAs, are quite similar to savings accounts, but there are a few key differences.

Keep in mind that money market accounts are different than money market funds, though the name is obviously similar.

Getting Your Cash

Your access to an MMA depends upon the bank. Some allow full access, including writing checks.

Others have restrictions that can make it tough to access your money without a fee.

With a savings account, there is usually no limit to your access aside from the federally mandated limit of six transactions per month.

However, you can usually move money around online easily with either type of account.

Interest Rates

Interest rates of MMAs are often higher than that of savings accounts because MMAs are invested in a variety of financial options, and savings accounts are not.

However, that leaves the interest rate of the MMA much more volatile than that of a savings account.

Opening and Maintaining the Account

The initial deposit for an MMA is often higher than the requirement for a savings account, and the daily minimum balance might be higher.

There also might be fees for an MMA that can’t be waived, while you can often waive those of a savings account. However, the MMA offers higher interest which might make it worth the extra hassle.

Frequently Asked Questions (FAQs)

What is a certificate of deposit?

A CD is a financial investment that requires keeping your money in the CD for a set period of time, such as six months or a year, in order to obtain a higher interest rate on that money.
A CD is good for those who have some extra cash they want to put into an interest-bearing account but are okay with not touching that money for the agreed-upon time. There are penalties for early withdrawal.

Should I try out a money market fund?

That depends upon your tolerance of risk.
The returns on a money market fund move with the stock market, which can sometimes be quite volatile.
In addition, the investment is not insured by the NCUA or the FDIC. However, you can realize much higher returns from a money market fund than from a money market account or savings account.

How do I know my money is safe?

If you put your money into a financial product that is insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), up to $250,000 of your money is insured if the bank or credit union fails.
Always look for the FDIC or NCUA logo or notice on a bank’s website.

About Author
Shannon Lee
Shannon Lee, a versatile contributor to MoneyRates, is a freelance writer with a passion that spans over two decades. Her extensive writing portfolio encompasses a myriad of topics, ranging from personal finance and home improvement to education, relationships, and medical and health subjects. In addition to her prolific freelance career, Shannon is also a novelist. Shannon’s dedication to providing insightful and informative content makes her a valued voice in the world of personal finance.
Our reviews are unbiased and thorough, focusing on consumer needs. For details, see our Editorial Policy & Methodology.