The best banks and credit unions in California for 2021

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The best banks in California for January 2021

 CategorySavings APYNumber of CA branchesNext steps
ChaseBest for a checking account0.01% to 0.05%979Learn more
AllyBest for a savings account0.50%None, online onlyLearn more
CitibankBest for checking and savings account0.04% to 0.15%288Learn more
Golden 1 Credit UnionBest credit union0.05%70Learn more

Savings rates at the largest banks in California

Here are the savings rates you'll earn with the biggest banks in California. Two of these, Chase and Citibank, made our list.

We didn't choose others because they didn't have branches in as many parts of California as some of our top picks, or they lacked distinguishing features, such as high APYs or sign-up bonuses.

However, you may still decide one of these California banks is a good fit for you, and you might like banking with a widespread institution you're familiar with.

 Savings APYNumber of CA branchesNext steps
Wells Fargo0.01%987Learn more
Chase0.01% to 0.05%979Learn more
Bank of America0.01% to 0.05%854Learn more
US Bank0.01%619Learn more
MUFG Union Bank0.01%315Learn more
Citibank0.04% to 0.15%288Learn more
Bank of the West0.01%224Learn more
Mechanics Bank0.01% to 0.03%145Learn more
Comerica Bank0.01% to 0.03%96Learn more
California Bank & Trust0.01% to 0.03%86Learn more

*As of December 2020, the national average APY on savings accounts is 0.05% according to the FDIC.

Below you'll find our top picks for the best banks and credit unions in California. Each of these is federally insured and offers a variety of products, including bank accounts, investment accounts, and loans.

Our expert panel for this guide

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best banks and credit unions for your needs. You can read their insights at the bottom of this post.

We're focusing on what will make a bank most useful, including customer service, fees, rates, and more.

Best bank for opening a checking account: Chase

Chase Total Checking®

Chase Chase Total Checking®Ally Ally High Yield Savings AccountCitibank The Citibank Account Package Checking AccountGolden 1 Credit Union Golden 1 Credit Union Regular Savings AccountCiti Citi® / AAdvantage® Platinum Select® World Elite Mastercard®Chase Marriott Bonvoy Boundless™ Credit CardChase Chase Freedom Unlimited®

Get the latest Bank of America stock price here.

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