There are over 200 banks and credit unions operating in the Lone Star State. If that number seems overwhelming, we can help. Money researched the leading financial institutions in Texas based on account offerings, annual percentage yields (APYs), fees and interest rates.
Here are our picks for the best banks and credit unions in Texas for 2024-2025:
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.
Prosperity offers a variety of deposit accounts, including specialized accounts for teens. It also offers innovative features like its Good Cents program to help people round up their savings and build a safety net. In addition to its fee-free checking accounts, the bank also has interest-bearing and premiums checking options, and it operates hundreds of branches throughout Texas, giving you easy access to your money.
However, Prosperity charges monthly fees on its savings accounts, which is a significant drawback. It also has limited CD terms. Those looking for CDs with terms over 60 months will have to work with another bank.
- Checking options without monthly fees
- Interest-bearing checking available
- Hundreds of branches and ATMs
- Fees on savings accounts
- Limited CD terms
The First National Bank of Texas offers CDs with much higher-than-usual rates. It has a low minimum deposit requirement; while some banks require thousands to open a CD, you can open a CD with First National Bank Texas with just $500.
First National Bank Texas has several checking options, including a high-yield checking account, but it charges monthly fees on some checking and savings accounts. Additionally, it doesn’t disclose its savings APYs on its website. You have to visit a branch for details.
- Low deposit requirement for CDs
- Higher-than-average APY on some CD terms
- High-yield checking options
- Doesn’t disclose savings APYs online
- Monthly fees on checking and saving accounts
A money market account can be a great way to build your savings and earn interest. And, with Frost bank, you can earn a substantially higher-than-usual APY. And, if you maintain a balance of at least $15,000, you won’t have to pay a monthly fee.
Frost Bank was ranked by J.D. Power as the best in the state in its U.S. Retail Customer Satisfaction Study.
However, the balance requirement to qualify for fee waivers is relatively high, and its savings accounts have lower-than-usual APYs.
- Top-ranked for customer satisfaction
- Higher-than-average APYs on money market accounts
- Low minimum deposit
- High balance requirement to qualify for fee waivers
- Lower APYs on savings accounts
By opening a checking account with PNC Bank, you can combine the function and ease of a checking account with the ability to earn interest. Its accounts pay a competitive rate for checking accounts, helping you grow your money. New customers can qualify for substantial bonus offers, and PNC has money management tools you can use to create a budget and track your spending.
It should be noted, though, that PNC does have monthly fees on most deposit accounts. Also, the bank doesn’t offer money market accounts.
- New customers promotions
- Interest-bearing checking
- Money management tools
- Monthly fees apply
- No money market accounts
Woodforest National has specialized accounts for certain groups, such as adults 55 and older, those who have had banking challenges in the past and kids. These accounts feature low fees and minimum deposits. The bank offers several checking options, including interest-bearing options that can build interest over time.
However, it has limited CD term options, and it doesn’t offer money market accounts, so some customers may choose to open an account with another bank to take advantage of those options.
- Offers second chance bank accounts
- Checking and savings options for seniors and kids
- Interest-bearing checking accounts available
- Limited CD terms
- No money market accounts
How we chose the Best Banks of 2024-2025
To determine our list of best banks for 2024-2025, Money evaluated hundreds of the largest retail banks, credit unions, regional and state banks and online banks ranked by assets. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.
To choose the best banks in Texas, we researched leading banks and compared their account offerings, rates, fees, deposit requirements and customer satisfaction ratings. We also evaluated each bank’s branch and ATM network, and what online tools and resources are available to customers.
You can read our full methodology here.
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