Rising Bank Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 4.5 Star Icon
  • Bank Fees: 5.0 Star Icon
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Savings/MMA · Member FDIC Insured


  • Competitive interest rates on accounts
  • Savings account has a low opening minimum
  • No monthly fees on saving account
  • Rising CDs offer interest rate increases


  • Limited accounts offered
  • Some CDs have high opening amounts
  • Interest rates not fixed for savings
  • Limited ways to contact customer service

What You Need to Know

The interest rates for Rising Bank accounts are competitive. The rates are competitive with other online accounts. They are much higher than typical bank rates. The rates are not tiered. Any amount above the required opening amount earns competitive interest rates.

The Rising Bank high yield savings account and the regular CDs have low opening amounts. The regular CDs are available in one, two, and three-year CDs. These CDs and the savings account each only requires $1,000 to open.

There are no monthly fees on the high yield savings account. This account is free. To earn interest, you must keep $1,000 in the account. The CDs only have a fee if you withdraw money before the CD reaches maturity.

Rising Bank offers two Rising CDs. These come in 18-month and 36-month terms. Each of these CDs requires $25,000 to open. During the CD term if interest rates increase you can increase the rate on your CD. The 18-month CD allows for one rate increase; the 36-month allows two rate increases. When you increase the rate of the CD, you can also deposit more money into the CD.

Rising Bank has limited types of accounts available. They offer a high yield savings account and CDs. The CD terms range from one year to three-year terms. There are not a wide variety of term lengths available through Rising Bank. They offer regular CDs, one jumbo CD, and two Rising CDs. Rising Bank does not offer a money market account or checking accounts. No business accounts are currently available.

The Rising CDs and the jumbo CD have high opening amounts. The Rising CD terms each require $25,000 to open. The jumbo CD has one term length, and it requires $100,000 to open the account. You must keep these amounts in the CDs to earn interest.

The interest rates for the Rising Bank high yield savings account are not fixed. Rising Bank may change the rate you earn on your account at any time. The bank does not have to notify you if the rates change. Interest credits to your account every month for the savings account and every three months for CDs. If you close your accounts before interest credits, you will not receive the earned interest.

Rising Bank offers limited ways to contact customer service. Reach a representative through phone, mail, or email. They are open Monday through Friday. The Rising Bank website says their customer service representatives offer personalized help. The ways to contact someone are limited though.

Cool Things

Financial Calculators

The Rising Bank website offers financial calculators. Use these calculators for retirement or emergency savings. You can calculate your net worth or see how living within a budget would help your finances. Other calculators are available as well.


Rising Bank started in 2018. They are a completely online division of Midwest BankCentre. Rising Bank offers a high yield savings account and online CD terms. The terms range from one to three years. They come in a regular CD, jumbo CD, and Rising CDs.

Midwest BankCentre originally started in 1906 as Lemay Ferry Bank. This bank is in St. Louis, Missouri. The name officially changed to Midwest BankCentre in 2000.

Frequently Asked Questions

Is Rising Bank FDIC insured?

Yes. Rising Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

Electronic transfers, checks, or wires. Some reoccurring bills can be paid through the Rising Bank savings account.

Does Rising Bank offer mobile banking?

Yes. With the mobile app, you can transfer money between Rising Bank accounts. You can also transfer money into Midwest BankCentre accounts. Mobile banking allows you to see account and transaction history.

Is Rising Bank free?

Yes. There are no monthly fees for the high yield savings account. The CDs have fees if you withdraw the money before it reaches the maturity date.

Is Rising Bank a good bank?

The interest rates are competitive with other online accounts. The opening required amounts are low for the regular CDs and the savings account. The account opening process is entirely online. Rising Bank does not offer a wide variety of accounts. The Rising and jumbo CDs have high opening amounts.

Is Rising Bank secure online?

Rising Bank has security measures that comply with federal law. Their buildings and files are secure. Their computers have safeguards.

Does Rising Bank offer competitive interest rates?

The rates for Rising Bank accounts are competitive with other online accounts. They are much higher than typical bank rates.

Can I use Rising Bank for my business accounts?

Rising Bank only offers personal deposit accounts. Those accounts include a high yield savings account and CDs. No business accounts are currently offered.

How is Rising Bank online banking different from the online banking my bank offers?

This bank is entirely online. There are no branch locations. The interest rates for Rising Bank accounts are higher than typical bank rates. They are competitive with other online accounts.

Do Rising Bank checking accounts pay interest?

Rising Bank does not offer a checking account. Only a high yield savings account and CDs are available.

How do I reach customer service?

By phone, mail, or email. Customer service is open from Monday through Friday. They close on federal holidays.

Does Rising Bank offer bill pay?

No checking accounts are available with bill pay. Rising Bank does allow for certain reoccurring bills to be withdrawn from your savings account. Contact customer service to find out more.

Can I deposit cash?

Make deposits through electronic transfers or by mailing in a check.

How long do transfers take?

Transfers made before their daily cutoff time tend to fund that business day. Transfers made after that time generally fund the next business day.

Can I sign up for direct deposit to Rising Bank accounts?

Yes. You can have money directly deposited into Rising Bank accounts.

Contact Contact Information

2191 Lemay Ferry Road
St. Louis, MO 63125

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