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

• Up to 3.30% APY on Savings
• $0 monthly fees
• Zero balance requirements
• Hybrid checking and savings
• Highest APYs have deposit requirements

• SoFi terms and conditions

  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/
  
  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
  
  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/.
  
  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.
  
  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 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.
  
  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 website.
  
  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.

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Wealthfront Cash Account

• Up to 3.3% APY on entire balance
• Zero balance requirements
• $0 monthly fees
• $1 opening deposit
• Optional debit card

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Synchrony High Yield Savings

• Up to 3.5% APY
• $0 monthly fees
• Zero balance requirements
• $0 opening deposit requirement

Read Review

Axos ONE

• $0 monthly fee
• Earn up to 4.21% APY on savings
• Earn up to 0.51% APY on checking
• Get paid up to 2 days early
• Optional debit card

Read Review

American Express® High Yield Savings Account

• Up to 3.30% APY (Annual Percentage Yield) on your balance
• Zero balance requirements
• $0 monthly fees
• Up to nine transactions per month

Read Review

• 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

• Up to 6% APY on first $2,000
• $0 monthly fees
• Zero balance requirements
• Earns 0.5% APY on balances over $2,000
• Requires a Netspend debit account

Read Review

Zynlo Tomorrow Savings

• Up to 4.2% APY
• Zero balance requirements
• $0 opening deposit
• $0 monthly fees

Read Review

Bread Savings

• Up to 4% APY
• Zero balance requirements
• $0 monthly fees
• $100 opening deposit

Read Review

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.
  Sources:

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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