-
Financial Rates:
3.0
-
Customer Service:
4.5
-
Website Experience:
3.5
-
Bank Fees:
3.5
Pros:
- Variety of personal accounts offered
- Low opening required amounts
- Reimbursement for ATM fees
- Savings account offers good rates
Cons:
- Money market account has tiered rates
- Accounts have monthly fees
- Daily debit card limits
- Cannot open accounts completely online
-
Financial Rates:
3.0
-
Customer Service:
2.5
-
Website Experience:
2.0
-
Bank Fees:
5.0
Pros:
- Can open all accounts online
- No monthly fees or required balances
- Competitive interest rates
- Savings has a low opening amount
Cons:
- Limited accounts offered
- Must link external bank account
- Premier account requires large amount
- CDs require a large opening deposit
5Star Bank offers a variety of accounts. They offer personal deposit and business accounts. These include:
- 5Star checking account
- E-Checking account
- Basic savings account
- Money market account
- CD terms from six-months to five-years
- IRA CDs from 18-months to five-years
- Lending options
- Credit cards
- Business checking and money market accounts
- Business CDs from six-months to five-years
- Business lending and credit options
5Star Bank has low amounts required to open their accounts. The E-Checking requires $50. The 5Star checking and the basic savings account require $100 to open. Both the money market account and the different CD terms require $1,000 to open.
The 5Star checking account refunds up to five ATM transactions fees per month. You must keep at least $1,000 in the checking account to have ATM transactions refunded. The E-Checking account does not offer ATM reimbursement.
The basic 5Star savings account offers competitive rates. The rates are higher than typical brick-and-mortar rates. This account only requires $100 to open and keep in the account to waive the monthly fee. Any amount in the account earns the competitive rate. These rates are not tiered.
To earn the most competitive rates for the money market account requires an account balance over $1 million. Any balance over $1,000 does earn interest but a lower rate. The rates gradually increase the more money you have in the account.
Most 5Star Bank accounts have monthly maintenance fees. The savings account fee is $2. The money market fee is $5, and the checking account fee is $7. Waive each of these fees by keeping a set amount in the accounts. Those balances range from $100 to $1,000, depending on the account.
5Star has daily limits for your debit card. The limit for point of sale purchases is $1,000 per day. The daily limit for ATM withdrawals is $300.
Accounts through 5Star Bank are not available to open entirely online. To open the accounts, you need to visit a branch location. You may be able to open the accounts through the mail. Contact customer service for more information.
Colorado Federal Savings Bank is an online bank. Opening an account is completed online. You do not have to mail information in or wait for the bank to send you information. All the information you need to open an account is on their website.
Colorado Federal Savings Bank accounts do not have monthly maintenance fees. The accounts are completely free. There are no fees to transfer money into the account with electronic transfers.
The interest rates for CFSB are competitive. Their rates are much higher than your typical brick-and-mortar rates. They are competitive with other online-only accounts. CFSB rates are not tiered. Any amount over the required opening deposit earns the competitive rates offered.
The high yield savings account only requires $1.00 to open the account and keep in the account. The interest rates are competitive. The only fee is if you withdraw more than six times each billing cycle.
CFSB offers limited accounts. Only an online savings account and CDs are available. No checking or money market account is available. There are no business accounts available. Only those few personal deposit accounts are available through CFSB.
To fund your CFSB accounts, you must link an external bank account. Once you link the accounts, you can make transfers between the two accounts. Electronic transfers between linked accounts are how you access your CFSB money.
CFSB has a Premier Savings account offering competitive interest rates. The minimum account balance is $50,000. To open the Premier Savings account, you must be a new customer. This means you have not maintained a CD or savings account with CFSB in the previous 60 days.
To open a CD through CFSB requires $5,000. There are six CD terms. They range from six-months to five-year terms. The only fee is if you withdraw your money before it reaches the maturity date. The interest rates for each of the terms are competitive.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.