Rising Bank CDs And Savings
CD APY Range
Minimum Deposit
Our Rating
Savings APY
Rising Bank CDs And Savings
CD APY Range
Minimum Deposit
Our Rating
Savings APY
Rising Bank Certificates (CDs) Rates
Rising Bank provides CD rates that are notably competitive in comparison to other banks and credit unions. While the rates for the 2-year CD and 3-year CD may not be extraordinarily high, the shorter-term options, such as the 6-month or 12-month CD, offer appealing rates.
The minimum deposit requirement is set at a solid and reasonable level, ensuring accessibility for customers.
Term | APY |
|---|---|
6 Months | 4.35% |
12 Months | 4.25% |
15 Months | 4.25% |
24 Months | 3.20% |
36 Months | 2.75% |
Rising Bank offers CDs, savings, and checking accounts that are protected by Federal Deposit Insurance Corporation (FDIC) coverage.
High Yield Savings Account
The Rising Bank high-yield savings account offers a competitive savings rate of 4.40% APY – this is one of the highest savings rates in the market. The minimum balance to earn APY is $1,000, which is a bit higher compared to other savings accounts.
APY | Minimum Balance To Earn APY | Maximum Deposit |
|---|---|---|
4.40% | $1,000 | $500,000 |
With Rising Bank's High Yield Savings Account, you can enjoy the following benefits:
FDIC insurance: Rest assured that your deposits are protected by the Federal Deposit Insurance Corporation (FDIC), providing security and peace of mind.
Online and mobile tools: Manage your savings easily and through Rising Bank's user-friendly online and mobile banking platforms.
Customer service: Receive customer service from Rising Bank's dedicated support team, ensuring that your needs and inquiries are promptly addressed and resolved.
Checking Account
With Rising Bank's checking account, you enjoy a range of benefits including 24X7 live customer support, no monthly maintenance fees, free bill pay, free ATM usage and reimbursement across the US with Money Pass ATMs, convenient online and mobile tools, FDIC insurance for your deposits, and even a free first set of checks.
APY | Minimum Deposit | Account Maximum |
|---|---|---|
0.30% | $1,000 | $500,000 |
About Rising Bank
Rising Bank is an online division of Midwest BankCentre, a long-standing community bank headquartered in St. Louis with a history spanning over a century. Unlike traditional banks, Rising Bank operates exclusively online, which means you won't find physical branches to visit. However, you can conveniently withdraw cash from Rising Bank's network of ATMs located throughout the United States.
To assist customers in managing their finances, Rising Bank provides a range of resources including online calculators and a user-friendly mobile banking app. The mobile app has received positive ratings on both Google Play and the Apple App Store, although it hasn't been reviewed by a large number of users yet.
Since Rising Bank doesn't have physical branches, customers can access cash by transferring money to a linked external account or by using a MoneyPass ATM, which is the bank's ATM partner.
Rising Bank's customer service representatives are available Monday through Friday from 8 a.m. to 12 a.m. Eastern time, and on weekends from 10 a.m. to 6 p.m.
Savings Account Reviews Methodology
The Smart Investor team has conducted an in-depth analysis of savings accounts offered by banks and credit unions tailored to the needs of savers. Our review focused on four key categories, with specific considerations for savers, and here's how we rated them:
- Savings Rates and Terms (40%): We thoroughly examined the interest rates provided by financial institutions, along with any unique terms and conditions attached to their savings accounts. Higher scores were awarded to banks and credit unions, offering competitive rates, reasonable minimum deposit requirements, and minimal fees, ensuring savers get the best value for their money.
- Savings Account Features (30%): This category assessed the array of features designed to cater to savers' needs, including fees, minimum deposit requirements, mobile app functionality, ATM access, and withdrawal options. Financial institutions providing a diverse range of features and convenient banking solutions received higher ratings in this category, reflecting their commitment to meeting the specific needs savers.
- Customer Experience (20%): The ease of account opening, the responsiveness of customer service, the usability of mobile apps (thoroughly tested by our team), and the bank's policies for assisting customers were evaluated in this category. Banks and credit unions offering seamless account opening processes, efficient customer service, and user-friendly digital platforms were rated higher, ensuring a positive banking experience for savers.
- Bank Reputation (10%): We considered the reputation of each financial institution, incorporating ratings from trusted sources such as JD Power, TrustPilot, and local Better Business Bureau reviews. Higher scores were awarded to banks and credit unions with positive reputations and satisfied customers, reflecting their reliability and trustworthiness.
By weighing these categories appropriately and focusing on factors relevant to savers, our review provides valuable insights to help residents of the state make informed decisions when selecting a savings account.
