Best Savings Accounts that Allow a Zero Balance

Balance requirements are common for high-yield savings to earn the best offered rate. And in some cases, a certain balance is required to keep the account open, which can be inconvenient if you withdraw often or don’t keep a consistent balance.

If you want the ability to earn interest on your entire balance, or drain your account without worrying about fees, compare these seven zero balance savings accounts.

8 best zero balance savings accounts

• SoFi Checking & Savings
• Wealthfront Cash Account
• Axos ONE
• Synchrony High Yield Savings
• American Express® High Yield Savings Account Member FDIC. All information about American Express® High Yield Savings Account has been collected independently by Finder.
• Netspend Savings
• Zynlo Tomorrow Savings
• Bread Savings

SoFi Checking & Savings

Wealthfront Cash Account

Synchrony High Yield Savings

Axos ONE

American Express® High Yield Savings Account

• American Express disclaimer

  All information about American Express® High Yield Savings Account has been collected independently by Finder.
  
  Member FDIC.
  
  The Annual Percentage Yield (APY) as advertised is accurate as of 30 December 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
  
  There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.

Netspend Savings

Zynlo Tomorrow Savings

Bread Savings

Methodology: How we chose the best $0 balance savings accounts

Finder’s experts compare hundreds of savings accounts to narrow down the best options, and we regularly update our best picks based on changing APYs, deposit requirements and fees. To earn a spot on this list of the best zero balance savings accounts, these minimum requirements must be met:

• FDIC or NCUA insured
• $0.00 balance requirements
• $0 monthly fees
• Nationwide availability

Who are zero balance savings accounts best for?

Don’t want to deal with balance requirements? Then these accounts are great for you. And if any of these points feel like you, then a zero-balance savings account can also make a lot of sense:

• You want to avoid minimum balance fees entirely.
• You’re a new saver who doesn’t have a large balance yet.
• You frequently withdraw funds from your savings account.
• You’re a parent setting up savings for a child.

Why do some savings accounts require a balance?

The short answer is that banks want you to deposit funds into the accounts. Banks need deposits to fully function, as deposits are one of the main ways they can fund loans and invest.

In exchange for keeping your funds with the institution and allowing it to lend out cash and invest, it pays you interest on your deposits.

Do I earn the headline APY with a $0 balance?

No. You will need a balance to earn any amount of interest. Interest earnings are a percentage of your balance — the higher your balance, the more interest you earn.

Minimum balance vs. opening deposit requirements

These two requirements are entirely different from each other. An opening deposit is a one-time requirement, whereas a minimum balance requirement may be a long-standing requirement.

An opening deposit requirement is when you must deposit a certain amount of cash upon setting up the account.

A minimum balance requirement can refer to the minimum amount in an account required to keep it open or the balance needed to earn a certain rate.

What is a good interest rate on a savings account?

The average interest rate on a savings account in the US is 0.38%. So, technically, any savings account rate above 0.38% can be considered a “good” rate.⁽¹⁾

However, I frequently find savings accounts with rates above 4% APY, and special offers over 5% or 6%.

Compare the best high-yield savings accounts in the market if you’re set on the best rates out there — but you might run into balance or direct deposit requirements with those.

What is a good interest rate on a savings account?

Bottom line

The best zero-balance savings accounts won’t require a balance at all, and they can be hard to find. Some accounts require $1 to $5 to keep the account open, so draining the account can mean fees or lower interest rate tiers.

If none of the seven zero-balance savings accounts are the right fit, compare more savings options.

Frequently asked questions

• Can I withdraw cash at an ATM from a savings account?

  Yes. If your savings account is linked to your checking account, you can typically use your checking account's debit card to withdraw cash. Alternatively, some savings accounts come with ATM cards. While you can't use ATM cards for purchases, you can use them to deposit or withdraw cash via ATMs.

• What is a ZBA account?

  ZBA accounts are not the same as a savings account with no balance requirements.
  A ZBA, or zero-balance account, refers to a type of business account designed to have a zero balance. Business owners use these accounts to pay bills, invest extra funds or manage payments on a day-to-day basis.

• Can you open a savings account online?

  Yes. Most modern savings accounts, even from traditional banks like Chase or Wells Fargo, allow for online account openings.
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