Bask Bank review: Earn airline miles or cash on your savings

Savers looking to maximize the return on their cash should consider Bask Bank™.

Though Bask Bank doesn't offer anything beyond savings vehicles, their savings options consistently offer some of the highest rates for no monthly fees. Bask Bank also stands out for having a savings account where you can earn airline miles — a perk typically reserved for travel credit cards — in addition to a traditional high-yield savings account and CDs.

For those who just want a no-frills savings account that earns a high amount of interest, the Bask Interest Savings Account currently offers 4.20% APY — a competitive rate today — with no monthly fees.

Frequent flyers should check out the Bask Mileage Savings Account, where instead of a cash return, they'll earn 1.75 American Airlines AAdvantage^® miles for every $1 saved annually in the account. That means if you save $9,000 in the account, you'll have earned 18,000 miles at the end of a year.

You can also open both accounts and transfer money between the two so that you earn a combination of cash and airline miles. Below, CNBC Select dives into these accounts, as well as Bask Bank's CD offerings.

Bask Interest Savings Account APY

The Bask Interest Savings Account currently offers a very respectable 4.20% APY to all savings account holders.

Bask Mileage Savings Account APY

With the Bask Mileage Savings Account, you'll score American Airlines AAdvantage^® miles: Earn 2 miles for every $1 saved annually. You can use these miles for flights on American Airlines or any of its 20+ partner airlines — meaning your next trip just got that bit less expensive. AAdvantage miles accrue daily and are rewarded based on your average monthly balances in your account.

There's a special offer right now, too, where you can earn up to 10,000 AAdvantage® bonus airline miles. To be eligible, new Bask Mileage Savings Account users must open an account between June 1, 2025 and August 31, 2025, fund the account within 15 days, and maintain a minimum daily account balance of $50,000 for 180 consecutive calendar days from account opening. (See the Bonus Terms and Conditions to learn more.)

Bask Certificates of Deposit APY

Bask Bank has four different Certificates of Deposit (CDs) you can choose from. CDs can be a good savings tool when you want to grow that money for a medium or long-term goal, since you basically lock your funds away to earn a (typically) guaranteed interest rate.

Below are Bask Bank's CD terms and their current fixed rates:

• Six-month CD: 4.20% APY
• 12-month CD: 4.30% APY
• 18-month CD: 4.00% APY
• 24-month CD: 4.00% APY

Bask Bank is a division of Texas Capital Bank (which is FDIC-insured), but operates completely online and via its mobile app. You can deposit funds to your account either via mobile check, ACH transfer or wire transfer.

The Bask Interest Savings Account and Bask Mileage Savings Account allow up to six free withdrawals or transfers per statement cycle, while the CDs may have a penalty for withdrawals before maturity.

Unfortunately, Bask Bank does not offer ATM cards.

Bask Bank's savings vehicles are relatively no-frills. It offers a U.S.-based customer support team that's available by email or by phone Monday through Friday from 7 a.m. to 7 p.m. CT and Saturday from 9 a.m. to 4 p.m. CT. There are no ATM or debit cards, but its app offers mobile banking features. You also can't do all of your banking in one place since Bask Bank doesn't offer any checking accounts.

Bask Interest Savings and Bask Mileage Savings accounts have no monthly fees and no minimum requirements. The bank, however, may close your account if it remains unfunded for 15 business days.

All of Bask Bank's CD terms require $1,000 to open an account within the first 10 business days. Withdrawing from your principal balance before your CD matures may cause you to pay a penalty, and you can't make additional contributions beyond your initial lump-sum deposit until your CD term ends.

However, once your CD matures, you can choose to withdraw your funds, move them into another Bask Bank CD or adjust your CD term. Otherwise, your CD is automatically renewed.

If you're just looking for a savings account with an above-average return, Bask Bank is a solid option with its Bask Interest Savings Account and Bask Certificates of Deposit. Frequent travelers should consider adding the Bask Mileage Savings Account as well to earn airline miles.

Because Bask Bank only offers savings vehicles, you'll have to look elsewhere if you also want a new checking account with a debit card or ATM access. Ally Bank® offers both a high-yield savings and interest-bearing checking account, KeyBank has a online savings and rewards checking account and SoFi® Checking and Savings is all in one.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every bank review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best banking accounts.

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