Vio Bank Review: High Rates and Low Minimums

4.3

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.

Start saving with just $100 and enjoy flexible access to your funds.

Vio is the online-only division of MidFirst Bank, the largest privately held bank in the U.S. As an FDIC-insured institution, your funds are protected up to $250,000. Vio Bank specializes in simple and accessible banking products, including CDs, money market savings accounts and regular savings accounts, all managed online or through its mobile app.

GOBankingRates has named Vio Bank one of the Best Banks of 2025 for its outstanding Money Market Accounts. While Vio doesn’t offer checking accounts or ATM access, its high-yield savings options and focus on customer convenience make it a standout choice for savers.

Vio Bank Savings Accounts

Vio Bank’s Online Savings account offers a straightforward way to save with no monthly maintenance fees — unless you opt for paper statements, which cost $5 per month. You can open an account in minutes with a low minimum deposit and earn APY.

• Earns APY. 
• No monthly maintenance fee.
• Minimum deposit is $100. 
• Other online banks offer a higher APY.
• Paper statements cost $5 a month. 

3.6

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.

Vio Bank Savings Accounts

Start Banking

Best For

Money Market Accounts

Great APYs

Online Banking

Mobile App

Low Monthly Fees

No Monthly Fees

Vio Bank’s Online Savings account is a basic account with no monthly fees to chip away at your savings. Opening an account takes just a few minutes and requires only $100. 

Fees

$5 monthly fee with paper statements

APY

Min Opening

$100

Pros

• Low minimum deposit
• No monthly fees
• Earns APY

Cons

• Other online banks offer a higher APY
• $5 charge on paper statements 

Quick Take

With a low minimum deposit of $100 to open, Vio Bank’s savings accounts are accessible for those who want to save. While the APY is low compared to other online banks, it is still higher than the national average. 

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Vio Bank CD Accounts

Vio’s certificates of deposit all pay attractive rates like those on its Online Savings account. The shortest term of four months offers the best rate of APY. However, 12-month CDs earn a respectable APY.

• Many options for different CD length terms. 
• $500 minimum deposit required to open a CD.
• APY on a one-year CD is . 
• CD offerings are only online. 
• Terms up to 10 years long.

4.6

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.

Vio Bank CD Account

Start Banking

Best For

Money Market Accounts

Online Banking

Great APYs

Mobile App

Low Monthly Fees

CDs With Terms up to 10 Years, All Online

Vio’s CDs offer solid rates like its Online Savings account, with a top APY for four-month terms. You can open a CD with just $500.

Fees

Early withdrawal penalty may apply

APY

Up to

Min Opening

$500

Pros

• Variety of CD terms
• Low minimum deposit
• Solid rates

Cons

• Online access only
• $500 minimum may be high for some customers
• CDs automatically renew — you will have to call if you don’t want automatic renewal

Quick Take

Vio Bank’s CD rates are solid with ranges from to APYs and the minimum deposit of $500 is manageable for most.

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Vio Bank Money Market Accounts

GOBankingRates chose The Cornerstone Money Market account as the Best Money Market Account in 2025. It, like the Online Savings account, requires just $100 to open, and it has no monthly fee unless you opt for paper statements. Balances earn an excellent APY of , and you can auto-transfer funds to stay on track with your savings goals.

• Earns APY which is higher than most money market accounts.
• Minimum opening deposit of $100 makes it accessible for most people.
• Enroll in e-delivery of statements to waive the $5 monthly fee.
• You cannot transfer funds to an internal checking account since VIO doesn’t offer those accounts.
• There are no physical branches so no ability to process cash deposits. 

GOLD WINNER

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.

Vio Bank Money Market Account

Start Banking

Best For

Money Market Accounts

Online Banking

Great APYs

Mobile App

Low Monthly Fees

Start Saving With Just $100

Vio Bank’s Cornerstone Money Market account was named as the Best of 2025. Open with $100, enjoy no monthly fees (with e-statements) and earn competitive interest while automating savings.

Fees

$5 monthly fee with paper statements

APY

Min Opening

$100

Pros

• Higher interest rate than most money market accounts
• Minimum deposit of $100
• No monthly fee 

Cons

• External transfers to another bank may take longer
• No check writing capabilities 
• No physical branches 

Why We Like Vio Bank

VIO Bank’s Cornerstone Money Market account is the best option on the market. It’s affordable since the minimum deposit is $100 and the payoff is APY.

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Vio Bank Banking Experience 

The banking experience can make or break a financial institution’s relationship with its customers. Vio Bank’s mobile banking app lets you manage your accounts using your iPhone, iPad, Android smartphone or Android tablet. In addition to checking balances and transaction histories, you can transfer funds between linked accounts. 

The app may be best suited to iOS users, who give it a 4.6 out of 5-star rating. The Android version gets just 2.8 out of 5 stars, with users complaining about the lack of a fingerprint or PIN option for easy access in addition to bugs and limited functionality.

Vio offers multiple ways for customers to get in touch with the service department, including email, phone or online chat. The phone lines have better hours than you might expect even a brick-and-mortar bank to be open:

• Monday through Friday from 7 a.m. to 9 p.m. CT
• Saturdays from 8 a.m. to 6 p.m. CT
• Sundays from 12 p.m. to 4 p.m. CT

Comparable Online Bank Options  

Compare how Vio Bank stacks up against other online banks in terms of products, features and APYs to find the best fit for your financial needs.

Savings

CDs

Money Market

SELECTED BANK

3.6

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.

Vio Bank Savings Accounts

Start Banking

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 

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.

EverBank Savings Accounts

Read Review

Fees

Fees

Fees

$5 monthly fee with paper statements

$0

No monthly maintenance fees

APY

APY

APY

Min Opening

Min Opening

Min Opening

$100

$0

$0

SELECTED BANK

4.6

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.

Vio Bank CD Account

Start Banking

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.

Ally Bank CD Rates

Read Review

MOST COMPARABLE

4.7

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.

EverBank CD Accounts

Read Review

Fees

Fees

Fees

Early withdrawal penalty may apply

No monthly service fee

No monthly fee

APY

APY

APY

Up to

Up to

to

Min Opening

Min Opening

Min Opening

$500

$0

$1000

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.

Vio Bank Money Market Account

Start Banking

MOST COMPARABLE

4.7

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 Money Market Accounts

Read Review

MOST COMPARABLE

4.6

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.

EverBank Money Market Accounts

Read Review

Fees

Fees

Fees

$5 monthly fee with paper statements

$0

No monthly maintenance fees

APY

APY

APY

Up to

Min Opening

Min Opening

Min Opening

$100

$0

$0

Vio Bank vs. Ally Bank

Ally Bank offers more products than Vio, with an option for an individual retirement account, a checking account and even mortgages and personal loans.

Vio’s money market account wins out over Ally, with a interest rate compared to at Ally. Ally’s six-month CD has a APY, which falls short of Vio’s . Ally’s CD term options max out at a five-year CD with an APY of .

Vio Bank vs. EverBank

Unlike Vio, EverBank has a checking account, and balances earn an above-average rate of APY. In addition, the savings account pays APY, not too far from Vio’s .

However, Vio wins out with its money market account, which earns APY. In comparison, EverBank’s tiered APY ranges based on balance but goes up to .

VIO Bank vs. CIT

CIT Bank offers a checking account, unlike VIO Bank. CIT Bank also offers a SavingsConnect account with a APY, while VIO has a more competitive product in its Cornerstone Money Market account which offers . 

Final Take 

Vio is a simple, straightforward online bank backed by the largest privately held bank in the country, MidFirst Bank. Your money is FDIC insured up to $250,000, and with a money market account or CD in particular, your savings can grow quickly thanks to high interest rates, compounded daily.

If your financial goals include building up savings to prepare for a trip, save for a down payment on a home or pay for an event, Vio’s high APYs and low minimum deposits to open an account make it a great choice.

Dawn Allcot and Daria Uhlig contributed to the reporting for this article.

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.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 25, 2024. 

To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) 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 (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. 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 Nov. 25, 2024.

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