The best banks and credit unions in California for 2021

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The best banks in California for January 2021

  Category Savings APY Number of CA branches Next steps
Chase Best for a checking account 0.01% to 0.05% 979 Learn more
Ally Best for a savings account 0.50% None, online only Learn more
Citibank Best for checking and savings account 0.04% to 0.15% 288 Learn more
Golden 1 Credit Union Best credit union 0.05% 70 Learn 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 APY Number of CA branches Next steps
Wells Fargo 0.01% 987 Learn more
Chase 0.01% to 0.05% 979 Learn more
Bank of America 0.01% to 0.05% 854 Learn more
US Bank 0.01% 619 Learn more
MUFG Union Bank 0.01% 315 Learn more
Citibank 0.04% to 0.15% 288 Learn more
Bank of the West 0.01% 224 Learn more
Mechanics Bank 0.01% to 0.03% 145 Learn more
Comerica Bank 0.01% to 0.03% 96 Learn more
California Bank & Trust 0.01% to 0.03% 86 Learn 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.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

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