--- title: Best Banks and Credit Unions in New York for 2025 description: Money looked at dozens of financial institutions to find the best banks and credit unions in New York. editors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. He combines his personal interests and professional experience in finance and education to help readers increase their financial literacy and make better investment choices. Jordan is a Certified Personal Finance Counselor. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 132 covers: - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Investing - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ published: '2024-10-08T15:00:50.000Z' modified: '2024-12-26T14:42:16.000Z' section: Banking tags: - Best - Best Banks 2024-2025 word_count: 769 canonical: https://money.com/best-banks-and-credit-unions-new-york/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Best Banks and Credit Unions in New York for 2025](https://img.money.com/2024/09/Best-Banks-2024-Ranking-States-NY.jpg?quality=85&w=1012&h=569&crop=1) ## Our Partners ![View Rates](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [View Rates](https://money.com/go/663b134c9892?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&bidid=4104160383&ptid=669751288&ptoken=2a06cdea52096d70925e24ec3a2629a9&zip=20149) **Earn up to 3.10% APY\* & up to $50 or $400 with direct deposit\*** - Limited Time Offer - +0.90% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.8 - $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 **\[AFFILIATE LINK: Open SoFi Account Today\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/7510/medium_8a6feaaf-bb2a-4668-a20d-603241767f86.png) Our Partner [View Rates](https://money.com/go/8f48dac8746e?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&bidid=4104160380&ptid=669751288&ptoken=852d9d3673b9e0a673a690d13eca30b5&zip=20149) **Earn up to 3.65% APY\* on qualifying balances with a Barclays' Tiered Savings account** - $200 Bonus with qualifying activities. Terms Apply. - No monthly maintenance fees - Easy direct deposits & online transfers - Member FDIC \*Rate as of 6/24/2026 **\[AFFILIATE LINK: View Barclays Offer\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [View Rates](https://money.com/go/8de559c3cd61?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&bidid=4104160386&ptid=669751288&ptoken=24ca8a7e96dbb12028009454bbb36a92&zip=20149) **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 - Member FDIC \*Boosted rate for 6 months; 3.75% APY after. Enter promo code CITBOOST for APY bonus. Rate as of 07/01/2026. **\[AFFILIATE LINK: View CIT Bank Offer\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/35396/medium_03f248f6-d7f4-4da6-8f13-322fce5d1be2.webp) Our Partner [View Rates](https://money.com/go/10f9ab522da6?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&bidid=4104160388&ptid=669751288&ptoken=a82f36d5b5e47a158e748c3c9cb5758d&zip=20149) **Earn 3.80% APY\* with an Openbank High Yield Savings account** - $500 minimum opening deposit - Keep more of your money with no fees - Trusted device security with quick face or fingerprint login - Member FDIC, Santander Bank, N.A. \*Rate as of 8/24/2026 **\[AFFILIATE LINK: View Openbank Offer\]** As one of the most populated states in the country, the Empire State is home to hundreds of banks and credit unions, including major chains and community banks. To help you find the best bank account to build your savings or handle your bills, Money researched the leading financial institutions' accounts, annual percentage yields (APYs) and fees. Based on that information, we identified the best banks and credit unions in New York for 2024-2025: - [****KeyBank****](#keybank) - Best Overall - [****Bank of America****](#boa) - Best for CDs - [****Citi****](#citi) - Best for High-Yield Savings Accounts - [****M&T Bank****](#mtbank) - Best for Checking Accounts - [****TD Bank****](#td) - Best for Promotional Offers \**Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.* ## Open a High-Yield Savings Account today and start earning interest ### Take advantage of an FDIC insured, High-Yield Savings Account from SoFi®. Click on your state and find out more. [View Rates](https://money.com/pr/b6d40efa5682?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F) ## Best Overall: KeyBank ![](https://s3.consumersadvocate.org/prd/image/image/25805/large_b761d99d-ed9d-4a06-ad2b-ca67298ad2f8.png) [View Rates](https://money.com/pr/u4b51998e510?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&url=) [KeyBank](https://money.com/pr/l1ec16abeffb?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-banks-and-credit-unions-new-york%252F) is a regional bank, operating hundreds of branches in New York. It's a standout banking option for New York residents, with multiple checking accounts, including free and interest-bearing accounts. It also offers high-yield savings options through its money market accounts and certificates of deposit (CDs). Through KeyBank, new customers can qualify for lucrative promotional offers. For example, new customers can receive up to $300 if they open a new Key Smart Checking account and deposit at least $1,000 within 60 days of account opening — a more attainable offer than some banks offer. KeyBank's APYs tend to be on the lower end for savings accounts, though, and despite having high APYs on CDs, it requires a higher deposit than other banks. **Pros** - Free checking options - New customer bonus offers - High-yield money market accounts and CDs available **Cons** - High minimum deposit requirement for CDs - Savings accounts have lower-than-average APYs ## Best for CDs: Bank of America ![](https://s3.consumersadvocate.org/prd/image/image/40322/large_d1bef5b9-e221-4053-b558-d66a2429c8c2.webp) [View Rates](https://money.com/pr/sc56a614d9db?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&url=) [Bank of America](https://money.com/pr/b3971a6f5097?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-banks-and-credit-unions-new-york%252F) is the second-largest bank in the country based on its consolidated assets. Although it's a national bank, it has a strong presence in New York, offering higher-than-usual APYs on CDs with low minimum deposits. It allows you to open a CD with as little as $1,000 — a lower requirement than most, and the bank offers substantially higher APYs and terms as long as 10 years. However, Bank of America charges monthly fees on its checking and savings accounts. Although it offers fee waivers to some customers, not everyone will qualify, so you should consider the cost of the monthly service fee when evaluating your options. **Pros** - Relatively low minimum deposit requirement - Higher-than-average APY on CDs - Multiple term options **Cons** - Low APY on savings accounts - Monthly fees on checking and savings accounts ## Best for High-Yield Savings Accounts: Citi ![](https://s3.consumersadvocate.org/prd/image/image/25806/large_abcfd77c-c0ea-4a4a-9992-25e28fd4b987.png) [View Rates](https://money.com/pr/ob52f52f5f22?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&url=) While the national average APY for savings accounts is about 0.50%, [Citi](https://money.com/pr/r30962eb44b8?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-banks-and-credit-unions-new-york%252F) offers high-yield savings accounts with substantially higher rates. They can be an excellent tool to grow your money with relatively low fees. There is no minimum deposit required to open an account, so you can start building your savings and earning interest right away. Citi doesn't offer money market accounts, so those looking for that kind of account will have to go elsewhere. Lastly, rates and account options vary by ZIP code, so not every county or borough in New York will qualify for the best rates. **Pros** - High-yield savings accounts - No minimum deposit - CDs with higher-than-average rates **Cons** - Rates and terms vary by ZIP code - No money market accounts ## Best for Checking Accounts: M&T Bank ![](https://s3.consumersadvocate.org/prd/image/image/25807/large_5421cd29-a499-4939-a2ed-4dd029d73590.jpg) [View Rates](https://money.com/pr/le914d481f1c?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&url=) [M&T Bank](https://money.com/pr/ddef5141f2ae?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-banks-and-credit-unions-new-york%252F) operates over 400 branches and ATMs in New York, and it offers a completely free checking option with its EZChoice account. It boasts no minimum balance requirements, no monthly fees and a low opening deposit. Its accounts give you access to checks and debit cards to safely make purchases and pay your bills. However, M&T Bank has limited CD terms, and the bank doesn't list the APYs on its deposit accounts online, making it harder to compare your options. **Pros** - Account with no monthly fee - No balance requirement - Low opening deposit requirement **Cons** - Limited CD options - APYs on savings accounts not posted online ## Best for Promotional Offers: TD Bank ![](https://s3.consumersadvocate.org/prd/image/image/7479/large_48ed31d1-8eb0-49ba-b7de-0a306fc62580.png) [View Rates](https://money.com/pr/m288279ed8a3?ap_referrer=%2Fbest-banks-and-credit-unions-new-york%2F&url=) [TD Bank](https://money.com/pr/xf337d1f1e90?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-banks-and-credit-unions-new-york%252F) is a highly-rated bank for customer satisfaction, and part of the bank's appeal is its promotional offers. New customers can qualify for hundreds of dollars in bonuses by opening a new account and meeting deposit or balance requirements. TD Bank has competitive rates on savings accounts with large deposits, but where it stands out is with its promotional CDs: You can earn a substantially higher-than-usual APY on select terms, locking in your rate for months. However, its savings accounts limit you to six withdrawals per month, or you'll have to pay an excess withdrawal fee. And to qualify for the highest APY on savings accounts, you'll need to deposit $100,000 or more. **Pros** - Generous new customer bonuses - High promotional CD rates - Low CD minimum deposit requirement **Cons** - Savings accounts have withdrawal limits - Highest APYs require large balances ## Compare Savings Accounts rates today ### Up to 2-day-early paycheck ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [Sign Up](https://money.com/go/b0cf47458c54?bidid=4104160342&pmeta=p129-c561-u25621&ptid=669751283&ptoken=26eef374a7e51f0fbf29fec4b9e1d02b) ### No monthly maintenance fees ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/7510/medium_8a6feaaf-bb2a-4668-a20d-603241767f86.png) Our Partner [Sign Up](https://money.com/go/0a8d8ec4cbb9?bidid=4104160340&pmeta=p129-c561-u25621&ptid=669751283&ptoken=b330b37d0849d10a3c4cf0225ac53959) ### Open an account in 5 minutes ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [Sign Up](https://money.com/go/f7e52118e329?bidid=4104160345&pmeta=p129-c561-u25621&ptid=669751283&ptoken=63cf0a536147a2d4643fba2b115fbcc4) ### $500 minimum opening deposit ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/35396/medium_03f248f6-d7f4-4da6-8f13-322fce5d1be2.webp) Our Partner [Sign Up](https://money.com/go/ca07db7d91a8?bidid=4104160348&pmeta=p129-c561-u25621&ptid=669751283&ptoken=5088be98cc2775666483324ebbacd109) ## How we chose the Best Banks of 2024-2025 To determine our list of best banks for 2024-2025, Money evaluated hundreds of the largest retail banks, credit unions, regional and state banks and online banks ranked by assets. We then compared opening balance requirements, interest paid, fees and features to determine our top picks. We researched leading banks and credit unions that operate in the state of New York to identify the five best banks for 2024-2025. We researched their accounts, rates, fees and customer service options to select the top institutions. We prioritized banks with broad branch networks and ATM access. 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