The best banks for 2022

• Ally Bank offers competitive yields on its products, allowing customers to use the same bank to select different types of accounts without compromising returns. 
• Ally also offers consistent and top-tier APYs on its savings and money market accounts.
• Ally doesn’t charge any account fees, including overdraft fees.

Bankrate evaluated more than 160 banks across a range of categories (big banks, online banks, credit unions and regional banks). Factors included the range of deposit products offered, minimum balance requirements, service and overdraft fees and the availability of fee-free ATMs and digital banking features, among others.

• The Capital One 360 Performance Savings account and 360 CDs provide competitive APYs compared with other big banks.
• Capital One’s deposit products do not charge monthly fees or require minimum balances. The bank plans to eliminate overdraft fees in early 2022.
• Savers can access a network of fee-free ATMs nationwide.
• The bank offers a full range of online banking services and also operates 333 branches, including cafe locations.

• Ally is consistently competitive with deposit rates. The online bank’s savings account also connects to buckets that help account holders save for specific goals.
• Savers won’t lose money on paying monthly fees — there are none. The same goes for its checking account. In fact, checking account customers don’t even have to worry about paying overdraft fees. In 2021, Ally Bank dropped them.
• Ally offers a variety of CD terms, and more impressively, requires no minimum deposit to open any of them.

• Spring Bank pays competitive yields on its savings account, money market account, interest checking and some CDs.
• Minimum deposit requirements are low for all accounts. Only $25 is required to open a savings account.
• A variety of CD terms are offered, and only $250 is required to open an account.
• Customers have access to a wide network of fee-free Citibank and MoneyPass ATMs.

• Alliant Credit Union makes it easy to become a member.
• It offers a range of high-yield deposit products with low or no minimum fees or balance requirements.
• Members can access 80,000 free ATMs and receive up to $20 a month in ATM surcharge rebates when an Alliant Visa debit card is used.

• Ally Bank offers a top-tier APY on its savings account.
• The account has no minimum balance requirement and doesn’t charge a monthly fee.
• The Buckets feature lets account holders save for different goals.

• Ally’s money market account pays a competitive APY.
• The account has no minimum balance requirement or monthly fee.
• It offers check-writing privileges and a debit card. 

• Ally Bank offers all standard terms of CDs. 
• It offers top-tier yields on its standard CDs. 
• Ally doesn’t require a minimum opening balance for its CDs. 

• The Discover checking account doesn’t charge fees or require a minimum balance.
• Discover’s partnership with Allpoint and MoneyPass networks provide customers with access to 60,000 free ATMs nationwide.
• Customers earn cash back on debit purchases.

• The account is easily accessible. Not only is it free, but you only need $1 to open the account. 
• Customers earn a little bit of interest on their cash deposits.
• Wealthfront offers a high-rated mobile app that can automatically move portions of customers’ paychecks to, say, an emergency fund or investing.

• Spring Bank provides customers in underserved areas with a full range of deposit products that include fee-free checking and savings accounts with competitive yields.
• It matches some deposits and donates the money to charity.
• It has been operating carbon-neutral workplaces since 2019.