Best Banks for Seniors [2025]: Golden-Year Banking That Shines

Seniors are often working with fixed incomes and different priorities than other age groups, making it especially important to find the right bank accounts.

Fortunately, there are banks that offer numerous benefits for seniors, including waived monthly maintenance fees and a wide network of in-person branches. The best banks for seniors also offer low or no fees, decent yields on deposits, and low account minimums.

Use our guide to help you decide which bank is the right fit for you based on your goals, whether you want to save money, earn interest, talk to someone in person, or automate your banking.

Compare the best bank accounts for seniors in December 2025

Bank	Best for	Monthly service fees
Chase Total Checking	Banking in person as a senior	$15, can be waived
Capital One 360 Checking	Banking with no fees	$0
Select Savings from Barclays	AARP members	$0
CIT Bank Platinum Savings1 <p class="">For a complete list of account details and fees, see our Personal Account disclosures: <a href="https://cit-fcb-t.cit.com/cit-bank/resources/forms">https://cit-fcb-t.cit.com/cit-bank/resources/forms</a></p>	Seniors focused on saving	$0
U.S. Bank Smartly Checking2 <p>Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for Checking account</p> 3 <p>Subject to certain terms and limitations. Member FDIC.</p>	Seniors over 65	$12; may be waived for seniors above 654 <p>No Monthly Maintenance Fee for the U.S. Bank Smartly® Checking account with one of the following: Combined monthly direct deposit totaling $1,500+, an average account balance of $1,500 or greater, the owner of an eligible Small Business Checking account, the owner of a U.S. Bank Smartly VisaTM Signature® Card, are 24 and under, 65 and over, or a member of the military (must self-disclose), or qualify for Smart Rewards® Gold tier or above.</p>
Wealthfront	Retirees	$0
Charles Schwab	Seniors who want to invest	$0

Chase Total Checking

4.3

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Chase Total Checking®

Enjoy $300 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.⁵ <p>Offer not available to existing Chase checking customers, or those whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years. You can receive only one new checking account opening related bonus every two years from the last coupon enrollment date and only one bonus per account. Coupon is good for one-time use. To receive the bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposits totaling $500 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account. After you have completed all the above requirements, we'll deposit the bonus in your new account within 15 days. To receive this bonus, the enrolled account must not be closed or restricted at the time of payout. Eligibility may be limited based on account ownership. Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable). Offer availability subject to change. Other Chase checking bonus offers may exist concurrently.</p> FDIC Insured. Offer valid through 1/21/2026.

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Seniors who appreciate the ease of pulling out cash at an ATM or depositing a check at a local branch would benefit from banking with Chase. Chase offers more than 15,000 ATMs and 4,700 local branches. The bank, which is the largest bank in the U.S., offers eight checking accounts, two savings accounts, and a range of CDs with varying terms (although its savings rates aren't competitive, on the whole).

We recommend the Chase Total Checking account if you want an everyday checking account with the convenience of visiting a local branch.

Unfortunately, the APY on Chase's checking and savings accounts is pretty terrible. The Chase Total Checking account earns no interest, while the Chase Savings account earns just 0.01% (as of 10/16/25). The accounts also come with monthly service fees unless you can meet certain criteria, such as specific minimum balances or monthly direct deposits. While there are plenty of bank branches for seniors to visit, keep in mind that monthly fees and low APYs are the tradeoff.

Visit Chase | Read our Chase Bank review.

Capital One 360 Checking

2025 award winner Best Overall Checking Account

4.9

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

CapitalOne 360 Checking

CapitalOne 360 Checking — Earn a $250 bonus

Earn a $250 bonus with fee-free 360 Checking. No fees, no minimums, no overdraft fees. Terms Apply.⁸ <p>1. Open a 360 Checking account on or after August 22, 2024, using promotional code CHECKING250. 2. Set up and receive at least 2 Qualifying Direct Deposits each of $500 or more to your 360 Checking account within 75 days of account opening. 3. Capital One will deposit the bonus into your account after the first two requirements listed above are completed. See full offer details and when the bonus will be posted at <a href="https://www.capitalone.com/bank/checking250/affiliate/">https://www.capitalone.com/bank/checking250/affiliate/</a>.</p>

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Seniors looking for a stress-free banking experience should consider checking out Capital One. It offers the 360 Checking and 360 Performance Savings accounts, which have no monthly service fees and no minimums to open or maintain. Capital One's credit cards are some of the best around, and the company's CDs offer competitive rates, too.

If you bank with Capital One 360, it's easy (and smart) to save with Capital One 360, too. Personally, I love that Capital One will let you open multiple savings accounts so you can organize your short-term savings goals; I have one for travel and another one for sinking funds for car repairs and the like.

The checking account gives you access to more than 70,000 fee-free ATM locations, which could help you save money if you need to hit the ATM. However, Capital One doesn't reimburse for fees incurred at other bank ATMs the way some banks do.

In my opinion, the savings account offers a decent rate, but if you want the absolute highest annual percentage yield, you'll need to keep looking.

Visit Capital One | Read our Capital One 360 review.

Select Savings from Barclays

The Select Savings from Barclays account is only available to AARP members. And if that's you, you should definitely consider the high-yield savings account with no minimums. It earns an APY of 4.25%, regardless of your balance. This is even more competitive than other savings accounts from Barclays, which frequently offer great rates relative to both the national average and the best accounts.

This is one of two exclusive account options offered by AARP Digital Banking from Barclays. The other are Select CDs from Barclays, which earn decent APYs but not the best.

Barclays doesn't offer in-person service via branches, but it does have highly rated mobile apps and 24/7 customer support.

CIT Bank Platinum Savings

4.3

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

CIT Bank Platinum Savings

CIT Bank Platinum Savings - 3.75% APY⁹ <p>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-of-day account balance. APYs — Annual Percentage Yields are accurate as of Nov. 20 2025: 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.</p>

Earn 3.75% APY⁹ <p>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-of-day account balance. APYs — Annual Percentage Yields are accurate as of Nov. 20 2025: 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.</p> on balances of $5,000 or more. $100 minimum opening deposit. Member FDIC.

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I hate the idea of paying a bank for the privilege of holding my money, so I always recommend looking for ways to reduce or eliminate monthly service fees. CIT Bank offers a competitive savings account with no monthly service, overdraft, or online transfer fees. There is a minimum deposit requirement of $100 to open an account. The Platinum Savings account offers an excellent APY of up to 3.75%.⁹ <p>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-of-day account balance. APYs — Annual Percentage Yields are accurate as of Nov. 20 2025: 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.</p>

CIT Bank offers a variety of other financial products, too, including CDs (but you'll find better CD rates elsewhere). The bank doesn't provide in-person customer service since it has no physical branches, so it won't be a good fit for seniors who prefer to bank face-to-face.

Visit CIT Bank | Read our CIT Bank Savings Review.

U.S. Bank Smartly Checking

2025 award winner Best for Bonuses

4.6

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

U.S. Bank Smartly® Checking

Earn up to $450

When you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through January 28, 2026. Member FDIC. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.

Open Account

U.S. Bank shines thanks to the perks it offers seniors (65 and above), like the ability to waive its $12 monthly maintenance fee on the U.S. Bank Smartly® Checking account.

It also tops our list thanks to the ability to bank in person and the variety of financial products it offers, including checking accounts, savings accounts, money market accounts, and CDs. You'll get in-person customer support at more than 2,000 local branches, which I think is a major advantage for people who prefer to deal with human tellers and not their phone.

Unfortunately, U.S. Bank charges monthly service fees if you aren't over 65 or meet certain requirements, so it's not a good choice if you aren't 65 yet. Additionally, the interest rates on most U.S. Bank accounts are either undisclosed or low (except for the U.S. Bank Elite Money Market account), so if yield is important, you might want a different bank.

Visit U.S. Bank | Read our full U.S. Bank Smartly Checking review.

Wealthfront Cash Account

2025 award winner Best for Large Deposits

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Wealthfront Cash Account

Wealthfront Cash Account - 3.50% APY¹⁰ <p>Rate is current as of 11/07/2025.</p>

High Yield Cash Management Account. $1 minimum deposit. FDIC Insured.

Open Account

While Wealthfront isn't technically a bank (it's a brokerage), its Cash Account is impressive enough to make our list, and it's great for seniors who are looking for something beyond what the traditional checking and savings account has to offer.

Tech-savvy seniors who want to earn a competitive APY on their cash should check out the Wealthfront Cash Account. It earns a solid APY of 3.50% and has no minimum balance requirement or account fees, and you can start with just $1. Plus, you can set up automations that route your funds into savings or investment accounts, helping you reach your goals faster.

It's a cash account, not a savings account, so you can make as many transfers as you want. And because Wealthfront uses a variety of partner institutions to hold its deposits, you may be able to get up to $8 million in FDIC insurance.

On the downside, Wealthfront has no physical branches, so you'll need to be comfortable with managing your money on your phone or computer. It also means that depositing cash into the account is complicated, so seniors looking for a more traditional bank account should look elsewhere.

Visit Wealthfront | Read our Wealthfront Cash Account review.

Charles Schwab Investor Checking

The Charles Schwab Investor Checking and Investor Savings accounts link to your Schwab brokerage account, making it easy to move money from one account to the other for trades and purchases. Plus, there's no minimum balance requirement or monthly service fees. You'll need to open (or already have) a Schwab brokerage account to get a Schwab checking account, but that's a plus in my opinion, since Schwab's investment options and brokerage accounts are so strong.

Seniors who are eager to travel the world can forget about foreign transaction fees when using the Schwab Bank Visa Platinum debit card associated with their Investor Checking account, plus unlimited ATM fee rebates worldwide, which can help cut costs when traveling.

You'll earn interest on your Schwab checking account funds, which not all banks offer. The APY is 0.05% (as of 10/14/25) on the Investor Checking. You'll also earn an APY of 0.15% (as of 10/14/25) on the Investor Savings account, which is pretty on par with the national average but is much lower than what you can get with an online high-yield savings account.

Learn more in our Charles Schwab review.

How to choose the best bank as a senior or retiree

Of course, you can't group all seniors together, but there are some factors that come into play when reaching a milestone age like 55 or 65. Answering the questions below can help inform your decision-making:

• What fees does it charge? Look at monthly service or maintenance fees and other possible costs, including overdraft fees, foreign transaction fees, and reimbursement for ATM fees. Many savings and checking accounts created specifically for seniors will waive monthly maintenance fees and possible other fees for people over a certain age, such as 65. The fewer fees you pay, the better.
• Does the bank offer any special senior discounts or perks? Some banks may waive fees for people over a certain age.
• Are there local branches near you? If you need access to a safe deposit box or want in-person customer service, consider a bank with a significant physical presence where you live.
• Will you earn interest? Find out the APYs you'd earn on the checking and savings accounts you want to open and ensure the rates you get align with competitors' offerings.
• What other products does the bank offer? Make sure the bank offers the products you need, whether you want checking, savings, money market, or CD accounts. You should also consider investment options. Seniors looking for convenience may prioritize finding an institution that offers everything they are looking for in one place.
• Is there a minimum balance requirement? Some bank accounts may require you to maintain a minimum balance to avoid monthly service fees. While this fee can sometimes be avoided with direct deposit, not all seniors have that option if they no longer have a paycheck coming in.
• Is it FDIC-insured?: Make sure the bank has FDIC insurance to know that your money is safe up to insurance limits. All reputable banks offer this coverage, and reputable credit unions offer NCUA insurance.

Today's Top Financial Offers

Make your money work harder with these top picks to maximize your savings.

Bank/Institution	APY Annual Percentage Yield	Bonus Offer	Open Account	Bonus Offer
2025 award winner Best Checking and Savings Combo
5.0 FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.	4.30 % APY With $0 min. balanceEarn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.	Limited-Time Offer: +0.70% boost to 4.30% APY on Savings for up to 6 months12 <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking and Savings account and&nbsp;pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $300 Bonus with eligible direct deposit.13 <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at<a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply.	Learn More on SoFi's secure website Member FDIC	Limited-Time Offer: +0.70% boost to 4.30% APY on Savings for up to 6 months12 <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking and Savings account and&nbsp;pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at&nbsp;<a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $300 Bonus with eligible direct deposit.13 <p>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 during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. 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 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at<a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply.
4.7 FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.	4.20 % APY With $500 min. balance14 <p>Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET September 23, 2025. The products and rates we offer may vary between locations, are available in select markets only, and are subject to change without notice. Rate for this product will be based on the residential ZIP code entered when account is opened within online application process. This is a variable-rate account and the rate applicable may change at our discretion any time without notice. A minimum deposit of $500 is required to open a Openbank High Yield Savings account. Personal accounts only.</p> <p>Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950) and are not separately insured.</p>	-	Learn More on Openbank's Secure Website FDIC Insured	-

FAQs

Banks that didn't make our list

While we think the list above provides plenty of excellent options for seniors, there are some accounts that might be a better fit for you, depending on your goals.

• Axos Golden Checking: The Golden Checking account is Axos' product designed especially for people 55 and older, with no maintenance fees and free checks included. While we think those are great perks, the account's 0.10% (as of 10/02/25) APY is lower than other options on our list. Read our Axos Bank review.
• Discover Bank: Discover offers great options for checking, savings, credit cards, and personal loans, including a checking account that offers cash back and an online savings account with a 3.40% APY. However, Discover's banking options are online, so they're not a good fit for seniors who prefer in-person service. Read our Discover review.

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4.3

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

No minimum initial deposit

Offers overdraft assistance⁷ <p>With Chase Overdraft Assist℠, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.</p>

More than 5,000 in-person branches and 15,000 ATMs

Member FDIC