Best Banks in New Jersey
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
New Jersey offers a mix of regional and national banks to suit a range of financial needs. Whether you’re looking for a local institution like Valley National Bank or a large bank with nationwide access such as Wells Fargo, you’ll find top options for checking, savings and certificates of deposit (CDs) in this GOBankingRates guide to the best banks in New Jersey.
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TOP NEW JERSEY BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in New Jersey
New Jersey residents can choose from many banks, but these are some of the top options that made GOBankingRates’ list.
Gold Winner: Valley National Bank
Valley National Bank has been in business for almost 100 years, so you know the bank is doing a few things right. The bank has more than 200 branches and operates in six states. You can open a child bank account or capitalize on Valley National Bank’s APYs to grow your savings with competitive rates.
Best For
Mobile Banking
Great APYs
Low Monthly Fees
Loan Options
Credit Cards
Get up to APY on an 18-Month CD
Valley National Bank combines nearly a century of banking experience with modern convenience. With hundreds of branches and a robust mobile app, the bank offers a mix of traditional in-person service and digital banking tools. Customers can take advantage of competitive CD rates, a variety of checking and savings options, and specialized products like child accounts and home financing.
Total Branch Locations
Over 200
Mobile App Rating
4.8 on the Apple App Store and 4.4 on Google Play
Other Products Offered
Checking, savings, money market, CDs, child accounts, mortgages, auto loans, wealth management, credit cards
Pros
- Competitive CD rates and terms
- Low intro APRs for some credit cards
- Financing options for homeowners and aspiring home buyers
Cons
- Only has branches in six states
- Low APY on checking accounts
- Some accounts have hard to waive monthly maintenance fees
Why We Like Valley National Bank
Valley National Bank has a wide range of financial products and competitive rates for its CDs. The bank also has several credit cards that let you unlock low introductory APRs and generous welcome bonuses.
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Silver Winner: Citizens Bank
Citizens Bank has a range of financial products to meet your needs and a loyalty program that lets you secure lower APRs and higher APYs. The bank has a vast retail footprint of more than 1,100 branches and has various business financial products as well. Business owners can manage their personal and corporate finances with the same bank.
Best For
Mobile App
No Minimum Deposit
Wealth Management
Loan Options
Credit Cards
The More You Save, the More You Earn
Citizens Bank stands out for its blend of nationwide reach in key regions and perks for loyal customers. Whether you’re managing everyday banking, planning a major purchase or running a business, the bank’s wide product lineup and personalized guidance make it a versatile choice for a variety of financial needs.
Total Branch Locations
More than 1,100
Mobile App Rating
4.7 on the Apple App Store and Google Play
Other Products Offered
Checking, savings, credit cards, home loans, student loans, wealth management, business accounts, investment management
Pros
- Many branch and ATM locations
- CitizensPlus loyalty program offers benefits for your checking account if you have a larger balance
- Complimentary personalized guidance from a Citizens Bank professional
Cons
- Low APYs for Citizens Bank’s savings accounts
- High $25,000 minimum deposit requirement to get the highest CD rates, and they aren’t the most competitive
- Branches aren’t spread throughout the country
Why We Like Citizens Bank
Citizens Bank has a vast footprint in the New England, Mid-Atlantic and Midwest regions with more than 1,100 branches and 3,400 ATMs. The CitizensPlus loyalty program opens a lot of opportunities to save money, such as with mortgage discounts, home equity line of credit discounts, a credit card fee reduction, student loan discounts and personalized financial advice.
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Bronze Winner: Wells Fargo
Wells Fargo has been around since 1852 and continues to be a popular bank for many consumers. The financial institution has thousands of branches across the United States and is an international bank.
Best For
Credit Cards
National Banks
Home Loans
Auto Loans
Investments
Everyday Banking and a Variety of Services
Wells Fargo has several products for everyday banking as well as options for mortgages, auto loans and credit cards. The app is user-friendly and the wide network of ATMs makes it easy to withdraw cash without paying a fee.
Total Branch Locations
Over 4,300 in the U.S.
Mobile App Rating
4.9 on the Apple App Store and 4.8 on Google Play
Other Products Offered
Credit cards, home loans, auto loans, investments
Pros
- Extensive branch and ATM network
- Diverse product offerings
- User-friendly digital interface
Cons
- Minimum deposit requirements and monthly maintenance fees
- High overdraft fees
- Low interest rate on savings accounts
Why We Like Wells Fargo
Wells Fargo offers one-stop everyday banking and financial planning services. There are several products for consumers and accessibility to branches and ATMs.
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Best Banks
Find the Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) 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), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 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 Aug. 4, 2025.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Bank in New Jersey
New Jersey residents have a wide variety of banking options, from large national institutions to regional and community banks. Each type has its advantages — regional banks may offer more personalized service while national banks typically have more branches and nationwide access. Deciding which to use comes down to personal preferences and the features you value the most.
Here are some of the most important factors to consider when comparing banks:
- Location: Regional banks only operate in certain areas of the country, so be sure a bank you’re interested in has a nearby branch or ATM. If you prefer in-person banking, proximity matters when choosing from the best New Jersey banks or credit unions.
- Availability: Check the operating hours, including weekends and holidays, to make sure they fit your schedule. Some regional banks may not offer the same extended hours or options as online banks.
- Bank health: Some regional banks prefer to remain small and local, but others are limited from expanding nationally because they aren’t raising enough assets or generating enough profit. Review your bank’s financials to ensure they’ll be there for the long haul — especially if you’re considering long-term products like CDs.
- Rewards and promotions: Regional banks are often good at offering rewards and promotions. Compare the current offers at the top New Jersey bank you’re considering with other available bank offers.
- Account offerings: Some regional banks have a narrower range of products, so confirm they have everything you need — whether that’s New Jersey checking accounts, savings accounts, investment products, credit cards or loans.
Conclusion
Choosing the best bank in New Jersey comes down to knowing what you want from a financial institution. Every bank offers checking and savings accounts, but some of them offer additional perks that help them stand out.
Discounts for loyal customers, complimentary financial advisors, features, budgeting tools and competitive APYs are some of the things to consider when comparing banks. The options above offer great starting points as you look for your first or next bank in New Jersey.
FAQs About Banking in New Jersey
Here’s more information to help you find the best New Jersey bank for your needs.- What is the best bank for high-yield savings in New Jersey?
- Valley National Bank is the best New Jersey bank for people who want high-yield savings. However, you can find more competitive APYs if you are open to online banks like Varo Bank.
- Which banks have the most ATMs in New Jersey?
- Out of the banks listed, Wells Fargo has the most locations. The financial institution has more than 250 locations in the Garden State.
- Are there any banks in New Jersey with no monthly fees?
- Yes. Each of the banks listed has checking accounts that either have no monthly fees or low maintenance fees that you can easily waive.
More Resources for Banking
Best Banks
Find the Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Marc Guberti contributed to the reporting for this article.
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