Most products on this page are from partners who may compensate us. This may influence which products we write about and where and how they appear on the page. However, opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain.

Quontic Bank High Yield Savings Account

Open Account

at Quontic

Quontic High Yield Savings offers customers 4.50% APY, which is a moderately good rate for a high-yield savings account. There’s a low minimum of $100 to open your account, as well as no monthly fees, but as a digital-only bank Quontic does not have physical locations.

Access High APY

Quontic Bank’s High Yield Savings Account offers a competitive 4.50% APY on all account balances. This rate is competitive with the top high-yield savings accounts currently on the market, though you can still find accounts with higher rates right now.

However, Quontic does a few things to make this account stand out from the pack. With a relatively low minimum opening deposit, no monthly maintenance fees and a flat interest rate for all balances, this account is more accessible than many of its competitors.

Let’s take a closer look at this account to determine whether it’s a good fit for your needs.


  • Relatively strong interest rate
  • No monthly maintenance fees
  • Pay Ring for contactless payments
  • Access to multiple ATM networks


  • Minimum opening deposit required
  • No physical branch locations
  • Excess transaction fee for exceeding 6 transactions per statement cycle

About Quontic Bank

Quontic Bank is a digital bank, which means it has no brick-and-mortar bank branches. The bank was founded in 2013, with headquarters in Manhattan, New York. In addition to banking products, Quontic also offers mortgage loans. The bank is a Community Development Financial Institution (CDFI), which means that part of its mission is to expand economic opportunities in low-income communities. 

The bank does this by providing flexible home loan programs with less stringent underwriting, low or no down payment requirements and more. So, if you open an account with Quontic, your funds will be used to help further its goal of helping low-income families, immigrants, people of color, small business owners and others who may struggle to achieve the dream of homeownership through traditional mortgage options.

As with most other banks, deposits with Quontic are FDIC-insured. One thing that sets Quontic apart from most banks is the Pay Ring. This ring, which costs $29, is a payment wearable that allows you to make contactless payments with a tap of your hand. You can also wear the ring in your day-to-day life, and there's no need to charge it. You can also lock the ring if you lose it, then unlock it again once you find it.

As of December 2022, Quontic doesn't charge fees for the following:

  • Activity statements
  • Cashier's checks
  • Faxes and photocopies
  • Incoming wire transfers
  • Check and statement photocopies
  • Activity printouts
  • Money orders
  • Foreign collections
  • Outgoing collections
  • Excessive checks
  • Electronic statements
  • Non-sufficient funds and overdrafts

There is, however, a $5 monthly fee for dormant accounts.

Quontic Bank Accounts

It doesn't always make sense to switch to another bank solely for one account. But fortunately, Quontic offers several other solid banking products, including: 

  • High Yield Savings account
  • High Interest Checking account
  • Bitcoin Rewards Checking account
  • Cash Rewards Checking account
  • Money Market account
  • Certificate of Deposit account

Here's what you need to know about each of the accounts the bank offers and whether they're right for you.

High Yield Savings

The Quontic Bank high-yield savings account offers an impressive interest rate. You'll get a 4.50% annual percentage yield (APY), which beats the majority of other high-yield savings accounts on the market. You only need a minimum deposit of $100 to open the account and there are no monthly maintenance fees. 

Note, however, that there is a limit of six withdrawals per statement cycle. This is standard for savings accounts and money market accounts. If you take more than six withdrawals in a statement cycle, there's a $10 fee for each withdrawal, which includes automatic and telephonic transfers, checks, drafts and debit card transactions.

Quontic Bank High Interest Checking

Open Account

at Quontic

  • Our Rating 5/5 How our ratings work
  • APYUp to 1.10% More Info

    10 debit card point of sale transactions of $10 or more per statement cycle required to earn the maximum APY per account balance tier. If the qualifying activity requirement is NOT fulfilled, the interest rate paid on the entire balance will be 0.01% APY.

  • Minimum
    Deposit Required
  • Intro Bonus N/A

Quontic Bank's High Interest Checking Account offers one of the highest interest rates we’ve seen on a high-yield checking account. Plus, there are no monthly fees, no overdraft fees, and a robust national ATM network. So long as you can fulfill the qualifying debit card point of sale transaction requirement each statement cycle to earn the maximum APY, this account is an excellent option.

With this interest-bearing checking account, account holders will earn an APY of Up to 1.10%, which is impressive for a high-yield savings account, let alone a checking account. To earn the high yield, you'll need to make at least 10 qualifying point-of-sale transactions of at least $10 with your account debit card. If you don't make the required transactions, you'll only earn an APY of 0.01%, which is more in line with the interest rate that other checking accounts typically offer.

The minimum deposit for the account is $100, and there is no monthly service fee or overdraft fees. Additionally, you'll get be able to enjoy withdrawals with no ATM fees at more than 90,000 ATMs in the AllPoint, MoneyPass and SUM networks, as well as with Citi ATMs located in Target, Speedway, Walgreens, CVS, Kroger, Safeway, Winn Dixie and Circle K.

Bitcoin Rewards Checking

If you'd rather earn rewards on your debit card purchases than interest on your balance, consider the Bitcoin Rewards account. This account offers an impressive 1.5% back in the form of Bitcoin on all eligible point-of-sale debit card purchases. Rewards initially accrue in U.S. Dollars but are used to buy Bitcoin through crypto company NYDIG. Note that funds in this account are not FDIC-insured.

The minimum opening deposit for this account is $500, which is steeper than the others. However, it has no monthly fee and no overdraft fees, and there's no minimum balance requirement.

Unfortunately, the Bitcoin Rewards Checking account is not available in all states. If you're a resident of Hawaii or North Carolina, you'll need to wait until it's available in those states.

Cash Rewards Checking

Like the Bitcoin checking account, the Cash Rewards checking account offers 1.5% back on every eligible point-of-sale purchase you make with your debit card. Your cash-back rewards will be deposited into your checking account at the beginning of each statement cycle. 

You can open this account with a $100 opening deposit, and there's no minimum balance requirement, monthly fee or overdraft fees. You'll also have access to more than 90,000 in-network ATMs with no ATM fees.

Quontic Bank Money Market Account

Open Account

at Quontic

Quontic Bank's Money Market Account does a lot to keep things accessible to the average customer while maintaining one of the highest interest rates currently available. The $100 minimum opening deposit is on the low end for money market accounts, and you won't have to worry about monthly fees or overdraft charges.

Similar to Quontic's savings account, you'll earn an impressive 5.00% APY with the bank's high-rate money market account. The minimum opening deposit is $100, and there are no monthly fee or overdraft fees. You'll also get fee-free ATM withdrawals with your debit card at more than 90,000 ATMs across the country. Keep in mind, though, that there is a six-withdrawal limit on your account, and that includes debit card transactions, as well as the others listed above for the savings account. All excess withdrawals are assessed at a $10 fee.

Quontic Bank Certificates of Deposit

Learn More

at Quontic

  • Our Rating 3/5 How our ratings work
  • Minimum
    Deposit Required
  • 1 Year APY4.50%
  • 3 Year APY4.40%
  • 6-Month APY5.05%

Quontic CDs typically offer a pretty solid APY, especially for 12-month terms. However, Quontic’s early withdrawal penalties are notably steep compared to competitors.

Quontic offers a variety of certificates of deposit (CDs), including options for six months, 12 months, 24 months, 36 months and 60 months. Here's a snapshot of some of Quontic's CD rates:

You'll need at least $500 to fund an account. There's no monthly service fee, but remember that CDs require that you keep your money in the account until it reaches maturity. If you take a withdrawal too early, you'll be assessed a penalty, which can range from 12 months all the way up to 24 months for longer CDs.

Quontic Bank Pros and Cons

couple reviewing finances

Quontic offers an excellent suite of banking products that provide above-average value, even compared to other online banks like Axos Bank, Ally Bank, Discover and more. So, it's definitely worth considering, even if you're happy with your current banking situation.

What's more, you can enjoy a nice bonus when you open a Quontic high-yield savings account through Slickdeals Rewards. With that said, here are some pros and cons to consider with Quontic.


  • High value: Regardless of which checking account or savings product you use, you can get a lot of value in the form of interest or rewards. Other online banks like Axos Bank and Discover offer interest-bearing or cash-back checking accounts, but these offerings are relatively rare.
  • ATM network: Most digital banks have broader networks of surcharge-free ATMs than traditional banks, but Quontic has access to multiple networks, giving you more options to save.
  • Low fees: You don't have to worry about maintenance fees or most other fees with this bank. Offering little to no fees is common among digital banks, though, so you may be able to find similar offerings elsewhere.


  • No physical branches: The biggest drawback of any online bank is the lack of brick-and-mortar branches. If you handle a lot of cash — the bank doesn't accept cash deposits — or you prefer in-person service, a digital bank like Quontic may not be the right option for you, at least not for your main banking. You can still take advantage of the bank's savings products for that aspect of your finances.
  • Limited support: If you have questions, you can call customer service at 1-800-908-6600. But that support is only available Monday to Friday from 9:00 a.m. to 6:00 p.m. Eastern time. If you need support outside of those hours, especially on the weekend, you'll have to wait.
  • Interest checking requirements: If you want an interest checking account, you'll need to use your debit card regularly to earn the highest rate.

Is Quontic Bank Right for You?

No bank or banking product is right for everyone, so it's important for you to consider your banking needs and preferences to determine if Quontic is the right fit for you. Carefully consider the products the bank has to offer and compare them with the value you're getting from your current bank or credit union, as well as to other offerings through online and traditional banks.

Earn More Interest on Your Savings

Ready to Open a Quontic Bank High Yield Savings Account? Start here.

Open Account

at Quontic

Also, consider the potential downsides. If you use cash regularly, for instance, you may want to at least hold onto your current bank or credit union account for better access to cash deposits, which you could then transfer to your Quontic account. But if you don't want to jump through those hoops, an account with a bank or credit union that has brick-and-mortar branches where you live may be the best option for you.


Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.