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finder.com’s rating: 3.9 / 5.0
★★★★★
Vio Bank, a division of MidFirst Bank, offers an attractive High Yield Online Savings account built with no monthly fees and a strong APY. However, you need at least $100 to open the account, and there’s a five-day hold on all deposits.1.10%
APY
$0
Fee
$100
Minimum deposit to open
Annual percentage yield (APY) | 1.10% |
---|---|
Fee | $0 |
To waive the fee | There is a $5 monthly fee if you receive paper statements. |
Minimum deposit to open | $100 |
Minimum balance to earn interest | $0.01 |
Interest compounding | Daily |
Monthly transaction limit | 6 |
Fee per transaction over the limit | $10 |
Review by
Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University.
However, if you like Vio Bank, you might as well choose its Cornerstone Money Market account, which offers similar no-fee features but a higher APY than its online high-yield savings account. And while Vio Bank offers a strong selection of savings products, it doesn’t have any checking account options.
As always, compare a variety of savings accounts before deciding which one to stash your cash in.
Follow these steps to open your account online, whether you’re applying for an individual or joint account.
You’ll need to meet these qualifications to open a Vio Bank High Yield Online Savings account.
Keep this information handy when you’re filling out your application.
Get an idea of your earnings when you park your savings at Vio Bank.
APY | Amount in savings | Interest earned in 12 months |
---|---|---|
1.1% | $1,000 | $11.00 |
1.1% | $5,000 | $55.00 |
1.1% | $10,000 | $110.00 |
The Vio Bank High Yield Online Savings account has its perks, but its main downside is that you won’t see funds in your account for five days. Other downsides to think about:
Or you might like Quontic Bank’s High Yield Savings because it offers all of the no-fee perks and high interest as Vio Bank’s accounts, but with a large network of ATMs. If you’d like to earn the highest interest possible and don’t mind meeting a monthly spend requirement, consider an Aspiration Spend & Save account.
If you were hoping to keep your checking and savings account at the same bank, you may want to keep looking. Compare your options and choose Go to site to open one of these accounts.
As with most online banks, Vio Bank limits how you can deposit into or withdraw money from your account. That way, you save the most amount of money possible.
For reference, Vio Bank‘s routing number is 303087995.
Fill up your account with new funds by:
Use the money from your account through:
Reach out to customer support with your questions or concerns in one of three ways.
★★★★★ — Excellent
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★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
Vio Bank High Yield Online Savings is not currently available on Finder
Have you considered UFB High Yield Savings?
Score an impressive 5.25% APY, and pay $0 in monthly fees. No minimum deposit requirement. FDIC insured.