Best Banks and Credit Unions in California for 2025
Earn up to 4.00% APY* & up to $50 or $400 with direct deposit*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.00% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- Access additional FDIC insurance up to $3M on deposits4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
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Up to $400 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking/checking-offer/
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APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet. -
Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/. -
Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks. -
ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time. -
Early Access to Direct Deposit Funds Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
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Overdraft Coverage Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi.
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0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Earn Up to 3.75% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 4/14/2026
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 4.10% APY* for 6 months with $5k min. balance
- $5,000 min. balance to earn top APY
- $100 minimum deposit to open an account
- No account opening or monthly service fees
*Boosted rate for 6 months; 3.75% APY after. Enter promo code CITBOOST for APY bonus. Rate as of 04/13/2026.
*For complete list of account details and fees, see our Personal Account disclosures
1 Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-ofday account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
2 Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
*Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends June 30, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
The promotion can end at any time without notice.
New CIT Bank Customers: This Platinum Savings APY Boost promotion offer is valid for New CIT Bank customers, who, at account opening, do not have a valid CIT Bank User ID (a "New Customer") or any open CIT Bank accounts provided that the following requirements are met:
• New customers must open a Platinum Savings account with a valid Promo Code, CITBoost. The Platinum Savings APY Boost Promo Code will appear on the online account opening enrollment web page. The Promo Code must be used at the time of account opening. Accounts opened during the program period without the Promo Code are ineligible to receive the APY boost.
• The enrolled Platinum Savings account must be open to receive the APY boost during the promotional period.
CIT Bank Customers with an account prior to the promotion: This Platinum Savings APY Boost promotion is valid for a Primary account owner with an existing account with a CIT Bank User ID before the start of the promotion, provided that the following requirements are met:
• Customers without a Platinum Savings account open prior to the Promotion must open a new Platinum Savings account via the enrollment web page using Promo Code CITBoost.
• Customers with a Platinum Savings account opened prior to the promotion may enroll their current Platinum Savings account into the Platinum Savings Boost promotion via the enrollment web page using Promo Code CITBoost.
• Customers who are not the Primary account owner on a Platinum Savings account may open a new Platinum Savings account as the primary account owner via the enrollment web page using Promo Code CITBoost.
• Accounts opened or enrolled during the program period without the Promo Code are ineligible to receive the APY boost.
There is a limit of one Platinum Savings APY Boost promotional offer per account and per Primary customer. If multiple Platinum Savings accounts are opened, only one account per primary account owner is eligible.
There is no minimum account balance requirement to participate in the Platinum Savings APY Boost promotion.
Additional Important Terms
• The Platinum Savings APY Boost promotion may not be combined with other promotions.
• Customers are ineligible to participate in the Platinum Savings APY Boost promotion if:
o They are earning an APY over the standard rate.
o They participated in a cash bonus promotion in the past 6 months.
• Custodial accounts and accounts in the name of a Trust are not eligible.
• This offer is non-transferable.
The value of Platinum Saving Boost will be reported as interest income on IRS Form 1099-INT for the calendar year in which it was paid. The recipient is responsible for any applicable taxes.
California is the largest state in the country based on population, so it's no surprise that there are thousands of banks and credit unions operating within the state. To help you identify the best banking option for you, Money researched leading financial institutions.
By evaluating their bank account options, annual percentage yields (APYs) and fees, we selected the best banks and credit unions of California for 2024-2025:
- Golden 1 - Best Overall
- Bank of America - Best for Low Fees
- BMO - Best for Checking
- U.S. Bank - Best for Money Market Accounts
- Wells Fargo - Best for Promotional Offers
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.
Best Overall: Golden 1
Golden 1 Credit Union is a top credit union in the Golden State. It offers low-fee deposit accounts, including free checking options and high-yield savings accounts. And, it offers higher-than-usual APYs on CDs. As a credit union, Golden 1 is also a good option for seniors and minors; it has special account options with low fees and added perks.
However, you must live in an eligible county, work for a partnering employer or have a family member who belongs to Golden 1 Credit Union to qualify for membership.
- Free checking accounts available
- Benefits for seniors
- Higher-than-average rates on CDs
- Interest-bearing checking accounts have monthly service fees
- Lower APYs on larger savings account balances
Best for Low Fees: Bank of America
Although many of Bank of America's savings and checking accounts have monthly fees, the bank has several ways to qualify for fee waivers. The waiver requirements are attainable; for example, you can qualify for a fee waiver on a checking account by maintaining a balance of just $500.
You can open an account with as little as $100, and Bank of America offers higher-than-usual rates on CDs. However, to qualify for the best rates, you need to have a combined balance of $20,000 or more in Bank of America accounts.
- Multiple ways to qualify for fee waivers
- Low minimum deposit requirements
- Multiple CD terms
- Lower APYs on savings accounts
- Most perks require large combined balance
Best for Checking: Bank of the West
In 2023, Bank of the West, a leasing bank in California, was acquired by BMO Harris. With its savings accounts, you can qualify for added rewards. For every month you save $200 or more during the first 12 months of opening an account, BMO Harris will reward you with $5.
There are hundreds of bank branches within the state, and it gives its customers access to over 40,000 ATMs. You can open an account with as little as $25. Many of its accounts have monthly fees, but there are multiple ways to qualify for fee waivers.
- Savings reward
- Broad branch and ATM network
- Low opening deposit
- Monthly fees apply
- Lower rates on savings accounts
Best for Money Market Accounts: U.S. Bank
For those who want to open a money market account, U.S. Bank is an excellent choice. It offers significantly higher-than-usual rates, and it's a top-ranked bank for customer satisfaction.
You can qualify for a waiver of monthly fees on money market accounts by maintaining a balance of $10,000 or more. However, to qualify for the best-possible rate, you'll need to have a balance of $25,000 or more.
- Top-ranked for customer satisfaction
- High APYs on money market accounts
- Multiple fee waivers
- Highest APY requires a high balance
- Checking accounts have monthly fees
Best for Promotional Offers: Wells Fargo
If you open a new checking or savings account with Wells Fargo, you could be eligible for hundreds in promotional offers. The balance or deposit requirements are relatively low, so the bonuses are fairly easy to get.
However, be aware that Wells Fargo accounts have monthly fees. Additionally, the bank offers comparatively low APYs on its savings accounts.
- Valuable bonus offers
- Budgeting and spending tools
- Fee waivers available
- Accounts have monthly fees
- Low APYs on savings accounts
Compare Savings Accounts rates today
Up to 2-day-early paycheck
Earn up to 4.00% APY* & up to $50 or $400 with direct deposit*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.00% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- Access additional FDIC insurance up to $3M on deposits4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
No monthly maintenance fees
Earn Up to 3.75% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 4/14/2026
Open an account in 5 minutes
- With a Balance of $5,000 or More*
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Earn 0.25% APY with a Balance of Less than $5k*
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$100 Minimum Deposit to Open Account
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No Account Opening or Monthly Service Fees
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CIT Bank Account is FDIC Insured
How we chose the Best Banks of 2024-2025
To determine our list of best banks for 2024-2025, Money staff evaluated hundreds of the largest retail banks, online banks, credit unions, regional and state banks ranked by assets. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.
To identify the best banks and credit unions in California, we researched leading financial institutions operating within the state. We looked at the banks' accounts, deposit minimums, rates and fees, as well as the number of branches each institution operates in California.
You can read our full methodology here.