Valley Bank Review 2026: Savings
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Valley Bank is headquartered in New Jersey, with locations spread across the country in five states: Alabama, California, Florida, New Jersey and New York.
While the bank has branches and a full line of banking products, its high-yield savings account is offered through the financial platform Raisin and is online-only. Raisin partners with financial institutions to offer high-yield savings products. Raisin itself is not a bank or credit union, and customers' money is held at FDIC-insured banks and NCUA-insured credit unions. In this instance, "all deposits are held directly with Valley Bank and qualify for FDIC insurance up to $250,000 per depositor," per Raisin's website.
Raisin does not charge fees, and there is a low minimum opening deposit requirement. Customers with higher deposit amounts qualify for a sign-up bonus.
Check your savings rate often, as it can change at any time.
No monthly fees.
Competitive rate on savings accounts.
Low minimum opening deposits.
No cash deposit.
No branch access.
Product reviews
Savings
Through Raisin, Valley Bank offers a high-yield savings account with a competitive APY. You need just $1 to open an account and there are no monthly fees. This account is widely available and can be opened online. Customers can manage their account on Raisin’s website.
It is the only Valley Bank account we considered for this bank review.
Bonus: If you deposit at least $10,000 within 14 days of opening the account, you could earn a sign-up bonus ranging from $70 to $1,200. To get the bonus, apply using code SUMMER26, make qualifying deposits to reach a bonus tier and keep the balance in your account for at least 90 days after your first deposit. Here are the tiers:
Deposit $10,000–$24,999 for a $70 bonus.
Deposit $25,000–$49,999 for a $175 bonus.
Deposit $50,000–$99,999 for a $350 bonus.
Deposit $100,000–$199,999 for a $750 bonus.
Deposit $200,000 or more for a $1,200 bonus.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.