10 Best Banks Offering Savings Accounts with Cashback in United States (2025)

Here Are 10 Best Banks Offering Savings in USA With Cash Back. Consumer behavior these days is such that they will not settle for a bank that just provides basic banking services as competition has enhanced the banking and financial services market. Maximizing as banks pairing high-yield savings with cashback savings offer tremendous value as they maximize the amount you can earn on both your spending and saving activities at the same time. In this in-depth review, we will take a closer look at the 10 best banks that combine cashback programs with attractive saving offers, diving into their respective features, criteria, and best-suited customers.

1. Union State Bank: CashBack Checking & REAL Saver

Union State Bank offers an innovative combination of accounts designed to reward customers for both everyday spending and saving habits. Their dual-account approach creates a seamless experience that automatically helps build savings.

Key Features and Requirements

The Union State Bank CashBack Checking pays 5% cash back on debit card purchases, up to a total of $200 in purchases per monthly qualification cycle. This means customers can earn a maximum of $10 in cashback rewards each month[4]. The qualifications to earn these rewards include:

• Receiving e-statements
• Accessing online banking
• Have at least 10 Mastercard debit card purchases post and settle
• Have at least one direct deposit or ACH auto debit post and settle

What makes this program particularly attractive is the companion REAL Saver account, which offers tiered interest rates:

• 1.00% APY on balances from $0 to $25,000
• 0.50% APY on balances over $25,000[4]

These competitive rates apply when the CashBack Checking qualifications are met. If qualifications aren’t met in a given cycle, customers still earn 0.05% APY on their REAL Saver balance, ensuring some return regardless of spending patterns.

Additional Benefits

Beyond the cashback and competitive savings rates, Union State Bank’s program offers several additional benefits:

• ATM fee refunds up to $25 per qualification cycle when monthly requirements are met
• No monthly service fees on either account
• Low barrier to entry with minimum opening deposits of just $25 for each account[4]

This combined solution works particularly well for customers who regularly use debit cards for everyday purchases and want an automated way to build savings. The requirements are straightforward enough for most customers to meet without significantly changing their banking habits.

2. SoFi Checking and Savings

SoFi has emerged as a leader in the fintech banking space, offering a comprehensive Checking and Savings solution that provides multiple ways to earn rewards and interest.

Unified Banking Experience with Multiple Rewards

SoFi (Social Finance, Inc.) has been recognized as offering the “Best Overall for rewards perks” among rewards checking accounts[5]. Their integrated Checking and Savings product combines the functionality of both account types while offering:

• Up to 4.30% APY on savings balances (as of April 2025)[2]
• No minimum balance requirements
• No monthly maintenance fees
• Early payday with direct deposit

While SoFi doesn’t offer traditional percentage-based cashback on every purchase, it frequently provides promotional offers, referral bonuses, and occasional spending rewards through its comprehensive membership program. The high interest rate effectively functions as a form of “cash back” on deposits, especially compared to traditional banks that typically offer much lower rates.

Digital Banking Excellence

As primarily an online financial services platform, SoFi excels in providing a seamless digital banking experience. Members enjoy:

• Fee-free overdraft coverage up to $50
• Access to over 55,000 fee-free ATMs
• Advanced budgeting and financial tracking tools
• Member discounts on other SoFi products, including loans and investment services

SoFi’s Checking and Savings account is ideal for digitally-savvy customers seeking a simplified, all-in-one banking solution with competitive interest rates. The lack of minimum balance requirements makes it accessible to a wide range of customers.

3. Discover Cashback Debit Account

Discover extends its cashback expertise from credit cards to banking with the Cashback Debit Account, offering a straightforward way to earn rewards on everyday spending.

Simple, Transparent Cashback Structure

Discover Bank, recognized as “Best for cash-back rewards”[5], provides a Cashback Debit Account with these key features:

• 1% cashback on debit card purchases, up to $3,000 per month (maximum $30 cashback monthly)
• No minimum balance requirements
• No monthly fees or maintenance charges
• Easy integration with Discover Online Savings Account

The simplicity of Discover’s cashback program is its greatest strength. Unlike many competitors, there are no complex qualification tiers or spending categories to track. Customers simply earn 1% on every debit card purchase up to the monthly limit.

Comprehensive Fee-Free Banking

Discover banking customers enjoy an exceptional fee-free experience:

• Access to over 60,000 fee-free ATMs
• No-fee overdraft protection
• No insufficient funds fees
• First-fee forgiveness program that automatically waives the first eligible fee each calendar year
• 24/7 U.S.-based customer service

Discover’s Cashback Debit Account is best suited for regular debit card users who prefer simplicity in their rewards structure. It’s particularly advantageous for those who appreciate a transparent banking relationship without complex requirements and who could benefit from integration with Discover’s Online Savings Account, which typically offers competitive rates compared to traditional banks.

4. Axos Bank Rewards Checking

Axos Bank offers a digital banking experience with its Rewards Checking account, which provides multiple ways to earn interest through various banking activities.

Multi-Tiered Rewards Structure

Axos Bank (formerly known as Bank of Internet USA) offers its Rewards Checking account as a high-interest alternative to traditional checking accounts[5]. Key features include:

• Up to 3.30% APY earned through meeting various requirements
• No monthly maintenance fees
• Unlimited domestic ATM fee reimbursements
• No minimum balance requirements after opening

The tiered rewards structure allows customers to earn interest based on specific activities:

• Direct deposits
• Debit card transactions
• Using personal finance management tools
• Maintaining investment accounts with Axos
• Having Axos personal loans with automated payments

Each qualification category adds to the account’s APY, allowing customers to customize their banking experience based on the services they most frequently use.

Integrated Financial Ecosystem

Axos Bank provides several complementary benefits as part of its broader financial ecosystem:

• First set of 50 checks free
• Online bill pay
• Mobile banking with remote deposit
• Integration with Axos High Yield Savings account for automated savings

Axos Rewards Checking is ideal for tech-savvy customers who can take advantage of multiple qualification categories to maximize their interest earnings. It’s particularly well-suited for those who already use or are interested in Axos’s investment services, as this can boost the APY significantly.

5. TD Bank Signature and Simple Savings

TD Bank offers two savings account options with identical bonus structures, providing a different approach to putting cash back in customers’ pockets through welcome bonuses rather than ongoing purchase rewards.

Substantial Welcome Bonuses

TD Bank (Toronto-Dominion Bank) offers both Signature Savings and Simple Savings accounts with attractive welcome bonuses:

• $200 bonus when meeting deposit requirements
• Requirement to deposit at least $10,000 within the first 20 days
• Need to maintain at least $10,000 for 90 additional days from the 20th day after account opening
• Bonus offer expiring October 31, 2025[3]

The primary differences between the two accounts are their fee structures and interest rates, with Signature Savings typically offering higher potential rates but also higher fees if minimum balance requirements aren’t met.

East Coast Banking Convenience

TD Bank accounts come with several additional advantages:

• Extensive branch network in the Eastern U.S.
• 24/7 customer service
• Mobile banking with remote deposit
• Integration with TD checking accounts for overdraft protection

These accounts are best suited for customers who:

• Live in TD Bank’s service area (primarily East Coast)
• Have at least $10,000 to deposit and maintain
• Value physical branch access
• Are new to TD Bank (existing customers don’t qualify for the bonus)

While not offering traditional cashback on purchases, the substantial welcome bonus effectively provides “cash back” for establishing a new banking relationship, making it an attractive option for those with sufficient funds to meet the requirements.

6. CIT Bank Platinum Savings

CIT Bank takes an alternative approach to “cash back” through high interest rates and new account bonuses, effectively giving customers money back through these alternative means.

High-Yield Savings with Substantial Bonus

CIT Bank (a division of First Citizens Bank) offers its Platinum Savings account with compelling features:

• 4.70% APY (as of April 2025)[2]
• One-time bonus of up to $300 with promo code PS2025[3]
• $5,000 minimum balance to earn the stated APY
• No monthly maintenance fees

The combination of a high ongoing interest rate and a substantial opening bonus creates significant value, particularly for customers who plan to maintain larger balances.

Digital Banking Benefits

CIT Bank provides several complementary features:

• User-friendly mobile banking app
• FDIC insurance up to $250,000
• Daily compounding interest
• Integration with other CIT Bank products

CIT Bank’s Platinum Savings is ideal for customers with at least $5,000 to deposit who prioritize earning high interest over traditional cashback rewards. The account bonus makes it particularly attractive for new customers, offering a different but valuable form of “cash back” through the welcome incentive.

7. Bask Bank: Interest and Mileage Savings

Bask Bank offers two unique approaches to savings rewards: a traditional high-yield Interest Savings Account and an innovative Mileage Savings Account that rewards savers with American Airlines AAdvantage miles instead of interest.

Dual Reward Options for Different Customer Needs

Bask Bank (a division of Texas Capital Bank) provides two distinct ways to earn rewards:

Bask Interest Savings Account:

• 4.85% APY (as of April 2025)[2]
• No minimum balance requirements
• No monthly fees
• FDIC-insured

Bask Mileage Savings Account:

• Earn American Airlines AAdvantage miles instead of interest
• Current promotion: 10,000 AAdvantage bonus miles for new customers who maintain $50,000 for 180 consecutive days[3]
• Ongoing earning rate of 1.2 miles per $1 on annual balance
• No minimum balance requirements
• No monthly fees

Innovative Rewards Structure

Bask Bank customers enjoy several additional features:

• User-friendly mobile app
• Goal-setting tools
• FDIC insurance
• No hidden fees

The Mileage Savings Account represents a truly innovative approach to banking rewards, allowing customers to effectively earn “cash back” in the form of travel currency, which can often be redeemed for greater value than the equivalent cash interest would provide.

8. CloudBank 24/7 High-Yield Savings Account

CloudBank 24/7 offers one of the highest APYs available nationwide, making it a compelling alternative to traditional cashback accounts by maximizing “money back” through exceptional interest earnings.

Market-Leading Interest Rate

CloudBank 24/7 offers its High Yield Savings Account with remarkable features:

• 5.22% APY (as of April 2025)[2]
• No minimum balance requirements
• No monthly maintenance fees
• FDIC insurance through partner banks

This exceptionally high interest rate provides substantial returns, effectively giving customers significant “cash back” on their deposits through interest rather than purchase rewards.

Digital Banking Convenience

CloudBank customers benefit from several additional features:

• 24/7 account access (as implied by the name)
• User-friendly digital banking interface
• Quick account opening process
• Competitive rates consistently maintained over time

CloudBank’s High Yield Savings Account is ideal for customers who prioritize maximizing interest earnings above all other features and are comfortable with online-only banking. This account is particularly advantageous for those who maintain higher balances, as the exceptional APY translates to significant earnings compared to traditional bank savings rates.

9. Consumers Credit Union Free Rewards Checking

Consumers Credit Union offers a Free Rewards Checking account that stands out for its exceptionally high potential APY, making it one of the most competitive options for interest among checking accounts nationwide.

Tiered Rewards Structure with High Potential APY

Consumers Credit Union (CCU) provides a Free Rewards Checking account with remarkable features:

• Tiered APY structure with potential rates up to 5.00% (on balances up to $10,000)
• No monthly maintenance fees
• Unlimited cash back on debit card purchases[5]

To earn the highest tier of interest, members must:

• Have 12 or more debit card purchases monthly
• Have monthly direct deposit, ACH debit, or bill payment
• Be enrolled in eStatements
• Access online or mobile banking at least once monthly
• Spend $1,000 or more with CCU credit cards monthly

Credit Union Benefits

Members of Consumers Credit Union enjoy several additional perks:

• Unlimited ATM fee rebates
• Free online and mobile banking
• Free bill pay services
• Access to shared branching through the CO-OP network

The CCU Free Rewards Checking account is ideal for customers who want to maximize interest earnings on checking balances and can meet the various qualification tiers. It’s particularly advantageous for those who are comfortable with credit union membership and are willing to use CCU credit cards to reach the highest APY tier.

10. Pibank High-Yield Savings

Pibank offers one of the highest savings rates currently available, providing an alternative form of “cash back” through exceptional interest earnings.

Market-Leading Interest Rate

Pibank, an online and app-based savings product operated by Intercredit Bank, offers a compelling high-yield savings option:

• 4.60% APY (as of April 2025)[1]
• No minimum balance requirements
• No monthly fees
• FDIC insurance

Established in Miami in 1992, Intercredit Bank launched Pibank in Spain in 2018 before bringing it to the U.S. market in 2024[1]. Despite being a relative newcomer to the U.S. banking scene, the institution offers one of the most competitive rates available.

Simplified Digital Banking

Pibank focuses on providing a streamlined digital banking experience:

• User-friendly mobile app
• Quick account opening process
• Minimal requirements to earn the full APY
• Transparent fee structure

Pibank’s High-Yield Savings is ideal for customers seeking simplicity alongside exceptional returns. Without complex qualification requirements or tiered interest structures, customers can easily earn the full APY regardless of balance or additional banking relationships.

11. Vibrant Credit Union Preferred Savings

Vibrant Credit Union offers a Preferred Savings account with a highly competitive interest rate and minimal requirements, providing significant value through interest earnings.

High-Yield Savings with Broad Accessibility

Vibrant Credit Union, headquartered in Moline, Illinois and dating back to 1935, offers its Preferred Savings account with attractive features:

• 4.50% APY (as of April 2025)[1]
• Available for balances less than $15,000
• No monthly fees
• ATM card available (with a checking account)

Anyone can join Vibrant Credit Union through membership in the Illinois Consumer Council and by maintaining a balance of $5 in a savings account[1]. This broad accessibility makes the high-yield offering available to customers nationwide.

Comprehensive Credit Union Services

Vibrant Credit Union customers benefit from:

• Mobile check deposit capabilities
• Access to checking accounts and CDs
• Credit Union Membership Benefits
• Community-focused banking approach

Vibrant Credit Union’s Preferred Savings account is ideal for customers seeking credit union membership with competitive rates. The $15,000 balance cap for the highest rate makes it particularly suitable for those with moderate savings balances who want to maximize returns without complex requirements.

Comparing Cashback and High-Yield Banking Options

When evaluating these ten banking options, it’s essential to consider different reward structures and how they meet various customer needs.

Different Approaches to Providing Value

The banks and credit unions on our list generally fall into three categories:

1. Traditional cashback on spending: Union State Bank, Discover, and Consumers Credit Union offer direct cashback on debit card purchases.
2. High interest as an alternative form of “cashback”: SoFi, Axos, Pibank, Vibrant, CIT Bank, CloudBank, and Bask Interest Savings provide value through exceptional interest rates.
3. Bonus-driven value: TD Bank and CIT Bank offer substantial welcome bonuses, while Bask Mileage Savings provides value through airline miles.

For most consumers, the choice between these approaches depends on spending and saving habits. High spenders who regularly use debit cards may benefit more from traditional cashback programs, while those with larger savings balances typically gain more from high-yield accounts.

Requirements vs. Rewards

Another important consideration is the effort required to maximize benefits:

• Low-effort options: Pibank, CloudBank, and CIT Bank have minimal requirements to earn their full benefits.
• Moderate-effort options: SoFi, TD Bank, and Bask Bank require specific actions (like direct deposit or minimum balances) but are otherwise straightforward.
• High-effort options: Union State Bank, Axos, and Consumers Credit Union require multiple qualifications to earn maximum benefits.

The optimal choice depends on a customer’s willingness to actively manage their banking relationship versus their preference for simplicity.

Potential Annual Value

To illustrate the potential value of each option, consider a customer with $10,000 in savings and monthly debit card spending of $1,000:

1. Union State Bank: $10 monthly cashback ($120/year) plus $100 annual interest on savings = $220 annual value.
2. SoFi: $430 annual interest = $430 annual value.
3. Discover: $120 annual cashback (assuming 1% on $1,000 monthly) plus potential savings interest
4. Axos: $330 annual interest (assuming all qualifications met) = $330 annual value.
5. TD Bank: $200 one-time bonus plus minimal ongoing interest.
6. CIT Bank: $300 one-time bonus plus $470 annual interest = $770 first-year value.
7. Bask Interest: $485 annual interest = $485 annual value.
8. CloudBank: $522 annual interest = $522 annual value.
9. Consumers Credit Union: Potentially $500 annual interest (assuming highest tier) plus debit card rewards
10. Pibank: $460 annual interest = $460 annual value.
11. Vibrant Credit Union: $450 annual interest = $450 annual value.

This simplified analysis demonstrates why high-yield savings accounts often provide more ongoing value than traditional cash-back checking accounts for customers with substantial savings.

Maximizing Cashback and Savings Benefits

Regardless of which institution you choose, certain strategies can help maximize the value of cashback and high-yield savings options.

Strategic Account Management

For accounts with tiered rewards or specific qualifications:

• Set up automatic direct deposits to meet requirements
• Schedule regular debit card transactions at the beginning of each qualification period
• Enroll in e-statements and online banking immediately upon account opening
• Set calendar reminders for qualification cycles to ensure all requirements are met

For accounts with tiered interest rates or balance caps:

• Keep balances within the highest-paying tiers
• Avoid excess funds in accounts with balance caps on high rates
• Distribute funds across multiple high-yield accounts if you exceed balance limits

Combining Complementary Accounts

Strategic use of multiple accounts can maximize overall returns:

• Use a high-cashback debit account for everyday spending
• Keep larger savings in high-yield savings accounts
• Consider different institutions for checking and savings if they offer better respective terms

For example, a customer might use Discover’s Cashback Debit for everyday purchases while maintaining their primary savings in CloudBank’s high-yield account for maximum returns.

Timing Account Openings

To maximize bonuses and promotional offers:

• Opening accounts during peak promotional periods (often early in the calendar year)
• Wait for bonus offers before opening new accounts when possible
• Review bonus terms carefully to ensure you can meet all requirements

Regularly monitor banking promotions, as institutions frequently enhance their offers to attract new customers, particularly around the beginning of the year or during major shopping seasons.

The Future of Banking Rewards

As competition in the banking sector intensifies, we can expect continued innovation in how financial institutions reward customers. Several emerging trends are likely to shape the future of banking rewards:

Enhanced Personalization

Banks are increasingly leveraging data analytics to offer more personalized rewards:

• Customized cashback categories based on spending patterns
• Personalized interest rate boosts for loyal customers
• Targeted bonus offers based on individual financial behaviors

Integrated Ecosystem Rewards

Financial institutions are moving toward rewarding customers for their overall relationship:

• Tiered benefits based on total deposit and loan balances
• Enhanced rewards for using multiple products within the same institution
• Partnership rewards with retailers and service providers

Sustainability-Focused Banking Rewards

As consumer awareness of environmental issues grows, banks are beginning to offer rewards tied to sustainable behaviors:

• Cashback for environmentally friendly purchases
• Interest rate boosts for sustainable investing
• Charitable donation matching as a banking benefit

Conclusion

The landscape of banks offering savings with cashback benefits continues to evolve, with financial institutions finding innovative ways to reward customers beyond traditional models. Whether through direct cashback on debit purchases, exceptionally high interest rates, or substantial account opening bonuses, consumers have more options than ever to maximize returns on their everyday banking.

The ten institutions highlighted in this article represent diverse approaches to providing value, from Union State Bank’s integrated checking and savings solution to CloudBank’s industry-leading APY. The best choice for any individual depends on their specific financial habits, balance levels, and preferences regarding physical versus digital banking experiences.

What remains clear is that consumers should no longer settle for basic checking and savings accounts that offer minimal returns. By strategically selecting and managing accounts that offer cashback, high interest, or substantial bonuses, banking customers can significantly enhance their financial outcomes while still meeting their everyday banking needs.

As competition in the banking sector continues to intensify, we can expect even more innovative reward structures to emerge, further benefiting consumers who take an active approach to optimizing their banking relationships. The key for consumers is to regularly reassess their banking choices, remain informed about new offerings, and be willing to switch when better options emerge.

With the right approach to cashback and high-yield savings options, everyday banking can become not just a necessary financial service but an active contributor to wealth-building and financial success.