The Best Savings Accounts in Oklahoma for 2025
- Ally Bank offers online calculators and savings solutions that make it easier to understand how to save money and meet your savings goals.
- MidFirst Bank has 77 locations across Oklahoma, California, Arizona, and Colorado.
- Oklahoma State Bank's savings account requires a minimum of $25 to open, has no monthly service charge, and even allows for free paper statements.
Oklahoma has a long history of banking. According to the Oklahoma Historical Society, when it was known simply as the Oklahoma Territory, local merchants served as bankers.
But when the territory was opened to settlers with the famous land run of 1889, nine banks were established within 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 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 offers numerous online banking options. Let’s examine some of the best high-yield accounts.
SFGI Direct Savings
With SFGI Direct Savings, there are no monthly service charges, and you can expect to begin earning interest on as little as one dollar—there is no minimum requirement to start earning.
However, you need a minimum opening deposit of $500 and no more than $25,000.
Some fees are 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 regular banking hours.
Pros
- Start earning interest on as little as $1
- Strong customer service
- It’s easy and fast to open an account
Cons
- 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 offers robust online calculators and savings solutions that help you understand your money and use it wisely.
Customer service is available 24/7; those over $25,000 get the highest interest rates.
Pros
- Regular promotions allow you to earn cash
- Unique savings tools and calculators
- 24/7 customer service via phone
Cons
- Tiered interest means higher interest for over $25,000
- No branch access
Synchrony Bank
With no fees, minimum balance, and minimum deposit, Synchrony Bank makes handling your money 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 branded with the Plus or Accel logo (there are many of them across the country).
Online and mobile apps make it easy to move money around.
Pros
- Up to $5 refunded on ATM surcharges for non-branded machines
- No minimum balance required
- No monthly maintenance fees
Cons
- Tiered interest that pays more for higher amounts
- The mobile app is adequate but not as robust as other banking apps
Citi
Known for its credit cards, Citi now offers the Accelerate Savings Account, with no minimum opening requirement.
Specific actions, such as carrying a minimum daily balance of $1,500 or linking your Citi checking to your savings account, can waive a monthly service fee. The company’s mobile and online presence is strong, and there is no limit to earnings through the savings account. ATMs are widely available.
Pros
- Finding branded ATMs is easy for most customers
- Unlimited earnings
- Bank branches are available in some areas
Cons
- 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 and 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 18 provides the same benefits, yet usually even higher interest, so it pays to get the kids involved, too.
Pros
- Numerous branches and ATM locations
- No foreign transaction fee at ATMs
- Free paper statements
Cons
- 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 similar but requires a $10,000 daily balance to avoid the $15 service fee and offers tiered interest rates.
Pros
- Several savings options
- Many branches and ATM locations
Cons
- High daily minimum balances
- A monthly service fee is assessed
How We Picked: Methodology
MoneyRates compiled 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 looked closely at the most updated interest rates 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 regularly, 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.
Opening Deposit
Some banks require no opening deposit 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 and can change very quickly, depending on market fluctuations.
Look for a bank that offers interest on everything you deposit, not just tiered savings rates that benefit those who deposit $25,000 or more.
Access
Does always having access to your money matter to you? If so, 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.
Fees
Though some banks still charge fees, most allow you to waive them.
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 costs, such as those for paper statements.
Customer Service
If you are comfortable handling your money independently without 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 with local branches or at least one offering 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 conventional 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, robust mobile apps and online presence make it easy to transfer money. 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 branded ATMs 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. The FDIC insures them.
Credit Unions
These institutions work just like traditional banks, but the big difference is that the account holders are credit union members 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. The NCUA insures them.
Oklahoma Savings Accounts versus Money Market Accounts
While researching 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 similar to savings accounts, but there are a few key differences.
Remember that money market accounts differ from money market funds, though the names are 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, your access is usually unlimited, 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
MMAs’ interest rates are often higher than those of savings accounts because MMAs are invested in a variety of financial options, while 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 might also 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)
A CD is a financial investment that requires you to keep your money in it for a set period of time, such as six months or a year, 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.
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.
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.
