Top Internet Banks for the Year 2025
In a comprehensive review, Kiplinger's 2025 analysis evaluated 40 financial institutions, considering various factors such as interest rates, minimum deposit and balance requirements, fees, online and mobile banking features, and overdraft fees. The top-rated online-only banks with high yields and low fees primarily include Axos Bank and Marcus by Goldman Sachs.
Axos Bank stands out with a high-yield savings APY of up to 4.66% in its Axos ONE savings account. To enjoy this rate, certain requirements must be met, such as $1,500 in monthly direct deposits and maintaining an average daily balance over $1,500. Even without these requirements, its Summit Savings offers a 4.0% APY with no minimum balance and no fees. Axos also offers several free checking accounts with no monthly fees and other perks like cash back with the CashBack Checking account.
Marcus by Goldman Sachs offers a straightforward high-yield savings account with an APY of 3.65% and no minimum balance requirement or monthly fees, making it a strong option for simplicity combined with high yield.
Other notable mentions in the review include EverBank and Capital One. EverBank's 13-month Performance CD has a 4.1% yield, requiring a minimum deposit of $1,000. EverBank's Performance Money Market account offers a 4% rate on a balance of at least $10,000, while its Performance Savings account provides a competitive yield of 4.3%. EverBank's debit card comes with benefits such as return protection and an extended warranty of up to one year on purchases.
Capital One's 360 CDs provide strong yields, including a 4% rate for a one-year term, with no minimum deposit. Capital One's 360 Performance Savings account offers a 3.5% yield with no balance requirement or monthly fee. Capital One also offers a no-fee MONEY Teen Checking account for teens and children who are at least 8 years old, with parental controls and a debit card.
Axos Bank offers a free, no-minimum Summit Savings account with a 4% yield, and all three of its checking accounts provide unlimited reimbursement of out-of-network ATM fees in the U.S. Axos Bank also offers a free Golden Checking account for customers 55 and older, providing free personal checks.
In conclusion, for customers seeking high returns with low or no fees in an online-only format, Axos Bank and Marcus by Goldman Sachs are the top-rated picks. The yields and other data listed in this article are as of early July.
The trading industry finds Axos Bank and Marcus by Goldman Sachs as top choices in the personal-finance sector, given their high-yield savings accounts and low-fee structures in the banking-and-insurance domain. Axos Bank, for instance, offers a Summit Savings account with a 4% yield alongside free checking accounts and ATM reimbursement, while Marcus by Goldman Sachs provides a straightforward high-yield savings account with no minimum balance requirement or fees.
