Bread Financial Review: High-Yield Savings and Low Fees

4.4

GBR RATING

GOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Earn a high APY on a savings account with just $100 needed to get started.

Bread Financial isn’t your conventional banking option, but it comes with notable benefits. It offers high-yield savings accounts, CDs, loans and retirement accounts, all through its Bread Savings arm, powered by Comenity Capital Bank.

Bread Financial provides simple and accessible financial products, including high-yield savings accounts and CDs with no minimum deposit requirements. Recognized as one of the Best High Yield Savings Accounts of 2025 by GOBankingRates, Bread Financial is designed to make saving easy and rewarding.

Bread Financial Savings Accounts

Bread Financial has only one high-yield savings account option, but the product’s simplicity should suffice for most account holders. GOBankingRates named Bread Financial as one of the Best High-Yield Savings Accounts of 2025. 

• Competitive APY of .
• No monthly maintenance fees.
• FDIC insured accounts.
• Daily compounding interest.

5.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Bread Financial Savings Account

Start Banking

Best For

High-Yield Savings Accounts

Mobile App

Online Banking

Great APYs

No Minimum Deposit

Minimum of $100 Opening Deposit

Bread Financial’s High-Yield Savings Account offers a simple way to grow your savings with no monthly fees and daily compounding interest. Open an account with just $100 to get started.

Fees

$5 for paper statements

APY

Min Opening

$100

Pros

• High APYs
• FDIC insured
• No maintenance fees
• No fee for incoming wires 
• No charge if the balance falls below the minimum 

Cons

• No physical branches
• Deposit limit of $1 million per account 
• Limited account types 
• No ATM access

Why We Like Bread Financial

Bread Financial delivers a high APY and low fees for savers who prioritize returns and convenience. While there’s no ATM access, the account’s strong rates and simple requirements make it a solid choice for online banking.

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Bread Financial CD Accounts

Bread Financial offers CD accounts ranging from three months to five years. Rates are competitive, and you may be able to bump up your interest rate when your CD renews. 

• Rates range from to APY.
• Minimum deposit of $1,500.
• Can open a CD online.
• FDIC insured accounts.

3.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Bread Financial CD Account

Start Banking

Best For

High-Yield Savings Accounts

Mobile App

Online Banking

Great APYs

No Minimum Deposit

Chance To Bump Up Interest Rate at Renewal

Bread Financial’s CDs offer competitive rates and flexible terms from three months to five years. Enjoy the chance to bump up your rate at renewal while earning secure, FDIC-insured returns.

Fees

Early withdrawal penalty may apply

APY

Up to

Min Opening

$1,500

Pros

• High APYs
• Convenient to open CDs online
• Varying CD lengths
• Possibility to increase the interest rate

Cons

• No physical banks
• Early withdrawal penalties

Why We Like Jenius Bank

Bread Financial offers a range of CD lengths and APYs. Your interest rate may be raised at renewal.

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Banking Experience

Bread Financial provides a positive banking experience for anyone who is comfortable with tech — there are no physical branches — and wants a straightforward approach to earning premium rates on their savings.

Products

Although Bread Financial offers fewer account options and products than larger banks, the few available are notable. As mentioned, its savings options earn competitive rates.

Plus, personal loans, Bread Pay for buy-now-pay-later financing, and a Bread Cashback American Express card are available.

Digital/Mobile Experience

The Bread Financial website is user-friendly and provides detailed information about its products. The Bread Savings mobile app lets you deposit checks, transfer funds and manage savings and CD accounts; however, credit card and payment plan access is only available via the web. The app is highly rated, with 4.8 out of five stars on Google Play and 4.9 out of five stars on the App Store.

Customer Service

Customer service is limited to phone support. You can call customer service at 833-755-4354 during business hours, but agents are prompt and knowledgeable.

Comparable Online Banks 

Bread Financial is a good option when you need to establish an emergency savings fund or you’d like to save for a down payment on a home. But how does its highly-focused banking services compare to other banks?

Savings

CDs

SELECTED BANK

5.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Bread Financial Savings Account

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MOST COMPARABLE

4.5

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank Savings Account 

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MOST COMPARABLE

4.8

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Synchrony Bank Savings Account

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Fees

Fees

Fees

$5 for paper statements

$0

$25 per wire transfer; free for Diamond status — 3 per cycle

APY

APY

APY

Min Opening

Min Opening

Min Opening

$100

$0

$0

SELECTED BANK

3.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Bread Financial CD Account

Start Banking

MOST COMPARABLE

4.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank CD Rates

Read Review

MOST COMPARABLE

5.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Synchrony Bank CD Account

Read Review

Fees

Fees

Fees

Early withdrawal penalty may apply

No monthly service fee

Early withdrawal penalty may apply

APY

APY

APY

Up to

Up to

Up to

Min Opening

Min Opening

Min Opening

$1,500

$0

$0

Bread Financial vs. Ally Bank

Bread Financial is a solid low-fee savings account contender but falls short in terms of product offerings. If you’re looking for a place to deposit your money that offers both low-fee, interest-bearing checking and savings accounts, Ally Bank is the better option.

Bread Financial vs. Vio Bank

Vio Bank provides a similar product to Bread Financial. If you had to choose between the two, Vio Bank’s savings rate is much lower. For CDs, Bread Financial also pays more in interest. 

Bread Financial vs. Synchrony Bank

Synchrony Bank offers a range of deposit products, including high-yield savings accounts, money market accounts and CDs. Its High Yield Savings account features an APY of , along with no monthly fees and optional ATM access for added convenience. Bread Financial has a more competitive APY but no ATM access. 

Final Take 

There are plenty of good reasons to separate your checking and savings accounts. One of the main reasons may be to avoid spending the funds if you have easy access. Bread Financial’s savings and CDs are high-yield and allow for limited transfers each month. 

There are no monthly maintenance fees — open more than one account to save for different goals. Best of all, opening an account is simple and can be done in just a few minutes to get to your savings goals faster. 

These are some of the many reasons GOBankingRates has ranked Bread Financial among the Best High-Yield Savings Accounts for 2025. 

Daria Uhlig, Rudri Patel and Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 3, 2024. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine rankings GOBankingRates looked at the following factors from all banks: (1) minimum deposit to open an account; (2) monthly savings fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) minimum needed to earn APY; (4) savings APY; and (5) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (2) and (3) weighed 1.5 times, factor (4) weighed 4 times; and factor (5) weighed 0.5 times. To be considered for the HYSA, the product offered had to have an APY above 0.45%. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 3, 2024.

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