MetLife Bank Rating’s – Savings Account (3/5)

 Similar to MetLife Bank’s money market account, their savings account only rated about average in our comprehensive review.  The minimum opening balance requirement of $50 to open an account is great, and one only needs to keep at least that much in the account to avoid paying a $5 per month fee.  There are no other maintenance or monthly fees to have to worry about as well, which makes on think that MetLife Bank has a great savings account.  However, as similar to their money market account MetLife Bank’s savings account has below average interest rates.  One needs to have at least $25,000 invested in an account in order to get a 0.75% APY, and there are many banks out there today that offer a higher rate with less funds needed in order to earn it.  If one invests $5,000 or less into the account they will only receive an APY of 0.15%, which again is well below the industry average.  If only MetLife Bank would offer higher rates they would have scored much higher in our review, but nonetheless it is an okay savings account to consider on the market today.

Savings Account Rating