If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
TAB Bank is a full-service online bank based in Utah. The bank, which started out as a banking service operating from truck stops, offers several banking products including a few bank accounts that earn high-yield interest.
Keep reading our TAB Bank review to learn more about this online bank to determine if it's right for you.
Tab offers competitive APYs with no monthly maintenance fees. With a variety of account types, it's a great option if you don't require physical branches.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
TAB Bank is right for you if:
TAB Bank High Yield Savings offers a competitive APY with no monthly fees. The account has no minimum deposit requirements, and you'll earn interest on all balances of $1 or more. Earnings aren't capped no matter how high the account balance.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
---|---|---|---|
![]()
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
up to 4.60%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
![]()
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
![]()
Open Account for UFB Portfolio Savings Account
On UFB's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
5.15%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. to earn: $0
|
N/A
|
Open Account for UFB Portfolio Savings Account
On UFB's Secure Website. |
TAB Bank CDs have eight term lengths. These range from six months up to five years. Interest on TAB Bank CDs compounds daily and is credited monthly, quarterly, or annually. Conveniently, customers can transfer the accrued interest to another account, receive a check, or leave it in the CD. Withdrawing funds from your TAB Bank CD before it reaches maturity will result in a penalty of up to 180 days interest on the amount withdrawn.
One strategy to maximize savings is to build a CD ladder. With TAB Bank, you'll need a $1,000 deposit for every CD you open. If you don't have the disposable funds necessary to build a CD ladder, you may be better off going through another online bank with lower deposit requirements.
APY = Annual Percentage Yield
Tab Bank CDs are available for an opening deposit of at least $1,000, but the APYs are competitive and terms offered are straightforward. You could easily build a CD ladder at Tab Bank.
6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
---|---|---|---|---|---|---|---|
5.27 | 5.27% | 5.27% | 5.00% | 4.80% | 4.25% | 4.05% | 4.00% |
TAB Bank is home to four checking accounts, including options to earn high-yield interest and cash back rewards. If you're looking for an everyday spending account, TAB Bank has options to fit most customers' needs.
Kasasa Cash Back checking is a checking account that earns cash back for meeting monthly qualifications. The account has no deposit or balance requirements. TAB Bank doesn't have its own ATM network, but this checking account offers ATM fee rebates up to $15 monthly.
You'll need to meet a few conditions to earn cash back. These include 15 debit card purchases and at least one direct deposit, ACH payment, or bill pay transaction each month.
Kasasa Cash checking is an interest-bearing checking account that earns a high-yield APY. The account features no monthly fees and no minimum deposit requirements. Customers that meet monthly requirements can qualify for two higher interest tiers depending on your account balance. Customers who don't meet requirements still earn the base APY.
Note: TAB Bank is currently not accepting new applications for Kasasa Cash checking accounts.
TAB Chrome Checking Account is designed with truckers in mind. Since truck drivers receive various payment forms daily, the account allows deposits like Comcheks, T-cheks, and EFS checks by phone or online.
You can open a TAB Chrome Checking Account with a $25 minimum deposit. The TAB Chrome Checking Account is an interest-bearing account, earning a modest rate, but the real draw is its unique deposit structure and security for banking on the road.
TAB Bank 365 Checking account is also an interest-bearing account. It offers a modest APY for account holders. This account does have an $8 monthly maintenance fee, but it's waivable by meeting monthly balance and transaction requirements. Note that TAB Bank charges ATM fees for holders of 365 Checking accounts who need cash on the go. You need a $25 deposit to open a 365 Checking account.
TAB Bank has an A+ rating with the Better Business Bureau. The online bank has received some negative reviews, but not a concerning amount. This could be attributed to its smaller customer base, but overall, TAB Bank has a good reputation among its customers.
Banks use relationship benefits to draw in new business. These often include fee waivers and higher rates. Relationship benefits are less common with online banks, which typically offer high-yield APYs to all customers and don't charge maintenance fees.
Accordingly, TAB Bank currently offers no relationship benefits to its customers.
TAB Bank is an excellent option for full-service online banking. If it doesn't sound quite right for you, though, check out the top online banks below.
Discover® Bank is more than just a credit card company. If you want a savings account with no fees and high-yield APYs, consider this online bank. Discover's checking account earns cash back rewards on select debit card purchases each month. Customers also have access to 60,000-plus fee-free ATMs across the country.
Capital One Bank is another credit card issuer offering online banking services. The bank's deposit accounts earn attractively high APYs. Additionally, these accounts have no monthly maintenance fees or account minimums. Capital One 360 Checking earns an APY comparable to TAB Bank, but without deposit requirements and fees. If you're looking for custodial accounts for kids and teens, Capital One offers those too.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.