Getting older unlocks a world of discounts available only to those in their golden years. Along with savings at your favorite dining spot, seniors can take advantage of discounts on banking. Senior-friendly bank accounts can come with perks such as no monthly maintenance fees (or fee waivers), free checks, and more.

Below are some of the best bank account options for senior citizens. These offer perks for seniors or have special accounts designed for those 65 and older. We’ve also included some options for bank accounts that are a great choice, no matter your age.

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5 Best Bank Accounts for Seniors

Some of the best bank accounts for seniors have restrictions such as age, along with discounts and perks only for older customers. Because banks want the business of senior citizens, they offer special accounts, competitive rates, and perks targeted at older adults. Here are some of the best bank accounts for senior citizens:

Axos Bank Golden Checking

For those 55 and older, Axos Bank offers a Golden Checking account with solid perks. There are no minimum monthly balance requirements, no overdraft fees and no non-sufficient fund fees. The minimum balance required to open a Golden Checking account is $50.

Other perks include free personal checks and up to $8 domestic ATM fee reimbursements every month. This is helpful since Axos Bank is an online-only bank. Additional banking features include peer-to-peer payments, bill pay, debit card management, and increased security features such as two-step authentication and 128-bit SSL encryption.

Related: Best Online Banks

BB&T Senior Checking

The Senior Checking account from BB&T is for bank customers who are ages 55 or older. There is a $100 minimum deposit requirement to open the account. While the account comes with a $10 monthly maintenance fee, you can avoid it by having a $1,000 average checking balance or $500 in combined direct deposits.

The account offers perks for seniors such as free wallet-style checks, one no-penalty early CD withdrawal for medical emergencies, and an overdraft protection option. Other benefits include mobile check deposits, peer-to-peer payment options, and online bill pay. You also get free access to more than 2,400 BB&T ATMs.

Also read: Best Business Checking Accounts

FitnessBank Senior Savings Account

FitnessBank has a unique approach to banking the institution ties interest rates to a customer’s activity level. The FitnessBank Senior Savings account is available to U.S. citizens ages 65 and older. Rates vary based on daily steps you take with the highest rate of 0.65% APY available to seniors who take 10,000+ steps every day (as of the publication of this article).

There is a $100 minimum opening deposit with interest earned on balances over $100. The $10 maintenance fee is waived with a $100 minimum average daily balance. Perks include free external account transfers and free incoming wires. Account balances are capped at $250,000.

Since the APY for FitnessBank accounts is tied to your step count, you will need to download the free FitnessBank Step Tracker app. After you download it, you can link it to your Fitbit, Garmin, Google Pay, or Apple Health, and set a daily step goal then get moving.

Resource: Best New Bank Promotions & Offers

TD Bank 60 Plus Checking

TD Bank offers a TD 60 Plus Checking account for customers ages 60 and older. Since the bank is located on the East Coast, you need to live in a covered state. The account is available for seniors who live in Connecticut, Washington, D.C., Delaware, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, SouthCaroline, Vermont, and Virginia.

While the account comes with a $10 monthly maintenance fee, it’s waived if you maintain a $250 minimum daily balance. There is no minimum opening deposit. Perks include free bank checks, money orders and paper statements. It’s an interest-earning account, but the rate is only 0.01% APY as of the publication of this article.

You also get access to online bill pay, peer-to-peer payment options, mobile banking, and contactless debit cards. If you’re in the market for a loan, you can get a 0.25% discount on TD Bank home equity and personal loans.

Related: Is Online Banking Safe?

U.S. Bank Easy Checking

While the U.S. Bank Easy Checking is available to most bank customers, it offers special perks for seniors. It comes with a $6.95 monthly maintenance fee, which is waived for those ages 65 or older. The bank also waives the $2 paper statement fee for senior customers.

The minimum opening deposit for the account is $25. Other perks include online and mobile banking, mobile check deposit, online bill pay, and more. The bank uses 128-bit encryption to secure your data.

Related: Best Mobile Banking Apps

Other Bank Account Options for Senior Citizens

Since some bank account choices above are limited or offer a virtual-only option, they may not fit your needs. Below are some additional bank account options that offer good value for seniors, even if they don’t have senior-specific perks.


BBVA is a Sunbelt-based bank that ranks among the 25 largest U.S. commercial banks. It offers an online checking account with no monthly Service Charge and no ongoing balance requirements. You also get no ATM fees nationwide at more than 64,000 BBVA USA ATMs and participating non-bank ATMs.

Other perks include online and mobile banking, mobile deposit, and online bill pay. You can also earn cash back on your purchases with your debit card through the Simple Cash Back program. The minimum opening deposit is $25. There is a $3 monthly fee for paper statements, but electronic statements are free.

You can also get access to the BBVA ClearBenefits Program for $4 per month. The program offers benefits like identity theft restoration and insurance, cell phone protection, and more. This is much cheaper than other identity theft and cell phone protection programs. BBVA USA is a Member FDIC.

Read the full BBVA Review

Consumers Credit Union

Seniors looking to earn interest that outpaces inflation should check out the Serious Interest Checking from Consumers Credit Union. The high-yield checking account offers a 4.00% APY on balances up to $15,000 (as of the publication of this article).

To get the rate, you need to make 12 debit transactions per month, have a $1,000 average daily balance, a $1,000 minimum recurring monthly direct deposit, and enroll in eStatements. The account offers online and mobile banking, mobile check deposit, online bill pay, free eStatements, unlimited check writing, and access to more than 30,000 fee-free ATMs nationwide.

Related: Free Online Checking Accounts

Why Choose a Bank Account for Senior Citizens

Bank accounts marketed to senior citizens can offer perks such as free checking, free checks, and free paper statements. This can make them convenient for older adults who may have different banking preferences. They can also be less hassle than accounts that require keeping track of daily balance to avoid fees and charges.

However, just because an account is marketed to senior citizens doesn’t mean it’s the best option for your situation. For example, monthly fees can vary between accounts along with minimum balance requirements. If you think you will easily meet the requirements to avoid fees at another bank and you like the account perks, that may be the best option. Some people prefer to stay with the bank they have been using since they are familiar with the website and branches.

Sometimes, a savings account may make more sense than a checking account. Even interest-earning checking accounts often come with limits or earning caps and other requirements. Evaluate your individual situation before deciding on a bank account option that fits your needs.

What Senior Citizens Should Consider When Selecting a Bank Account

Seniors have different banking needs than younger adults. Below are some considerations that apply to older adults and can tip the scale toward a certain bank account option:

  • Do you prefer a bank with a physical location near your home or are you okay with an online-only option?
  • Do you write many checks? If so, free checks can be a good perk.
  • Is it important to you to earn interest on the money in your checking account?
  • Do you use ATMs regularly and need access to fee-free locations near your home?
  • Do you travel frequently and need a national bank with fee-free ATM locations all over the U.S.?
  • Do you value perks like online and mobile banking, mobile check deposit, peer-to-peer payments, and bill pay?
  • Are the bank’s online and mobile banking easy to use?

Bottom Line

There are many banks that offer accounts and perks tailored to the needs of senior citizens. If you’re in the market for a new bank account, consider some options above and pick one that best fits your needs.

Keep in mind that just because you’re a senior, you don’t have to go with senior-only options. Mainstream bank accounts are available to adults ages 65 and older and may be the better choice for you. If your current bank or credit union fits your needs, you can keep your money there as long as it suits you.

Do you have a senior-only bank account? Do you like the perks it offers? Share your experience in the comments.

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  • Rob Berger

    Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at