analysed 179 financial institutions across nine categories and 6,996 data points across 65 scoring factors.
JPMorgan Chase BankPros:– Nearly 5,000 locations– Wide range of products offeredCons:– $4.95 Secure Banking fee can't be waived– No home equity loans or MMSAs
U.S. BankPros:– Low checking fee– Wide range of products offered– 0.05% APY for 12-month CDCons:– Not as many locations as other national banks– Low rates on savings accounts
KeyBankPros:– No checking fee– Wide range of products offered– 0.05% APY for most CDsCons:– Savings APY isn't the best in the category– High minimum deposits for CDs
Ally BankPros:– Competitive rates on savings and CD– No monthly checking fee– No overdraft feesCons:– Can find higher rates at a few other online banks
Navy Federal Credit UnionPros:– Competitive APY on savings account– Competitive APY on 1-year CD– No checking account feeCons:– $1,000 minimum to open 1-year CD– Limits on who can join
Sallie Mae Bank's SmartyPig AccountPros:– No minimum balance to avoid fees– No monthly fee– 1.10% APY– Get $10 for each friend you refer who sets a goal and contributes to it.Cons:– Online onlyWhat to look for: Sallie Mae Bank's
Quontic BankPros:– 2.86% APY for 60-month CD– 2.01% APY for 12-month CDCons:– Online-only bank