Interest rates have been rising rapidly in recent months, and you may be pleasantly surprised to see how much. If you’re currently holding your money in a bank that’s paying 0.0-something percent on your balance, you need to seriously investigate the alternatives. In this guide, we’re going to provide 11 of the best online banks, most of which pay interest rates on deposits well above “traditional” banks.
Let’s start with a high-altitude summary with the table below. We’ve listed all 11 banks, and their basic features. Take a quick glance through the table, then move down to the summary reviews of any you’re interested in just below the table.
Our Picks for Best Online Banks
Below is our list of the 11 best online banks, and what each bank is especially good at:
Best All-Around: Ally Bank
- Products Offered: Checking, online savings, money markets, and CDs
- Minimum Balance Required: None