-
Financial Rates:
3.0
-
Customer Service:
3.0
-
Website Experience:
4.5
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- Savings account has a low opening minimum
- No monthly fees on saving account
- Rising CDs offer interest rate increases
Cons:
- Limited accounts offered
- Some CDs have high opening amounts
- Interest rates not fixed for savings
- Limited ways to contact customer service
-
Financial Rates:
3.5
-
Customer Service:
5.0
-
Website Experience:
3.5
-
Bank Fees:
5.0
Pros:
- Variety of accounts offered
- No monthly maintenance fees
- Most accounts have low opening amounts
- Savings account and CDs offer high rates
Cons:
- Savings account opening balance high
- Most account interest rates low
- Opening accounts not entirely online
- Customer service not available 24/7
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.
A variety of accounts are available through TAB Bank. They offer personal and business checking, savings, and money market accounts, along with CDs. The CD terms range from six months to five years. TAB offers personal deposit accounts and accounts for all sizes of businesses.
The accounts at TAB Bank do not have monthly maintenance fees. There is no required amount to keep in the account to avoid a monthly fee. The accounts do have set amounts to earn the most competitive interest rates.
Most TAB accounts have low required amounts to open. The money market account, checking, and basic savings account all only require $25 to open. There is a daily balance required of $1 to keep the account open and earn interest. Each of the CD terms require $1,000 to open.
TAB Bank’s high yield savings account and CDs offer competitive interest rates. These rates are competitive with other online accounts. The interest rate for the high yield account is not tiered. You do need to have a balance of $2,500 to earn the most competitive rate. Amounts under $2,500 still earn interest, just a much lower rate. Each of the CD terms offers competitive interest rates. CDs require $1,000 to open and earn interest.
The high yield savings account has a high opening balance. This account requires $2,500 to open. That amount is also required to keep in the account to earn the highest interest rate. Any amount under $2,500 earns interest, just a much lower rate.
Interest rates for TAB accounts, besides the high yield savings account and CDs, are low. They are not competitive with other online accounts. The interest rates for checking, basic savings, and money market accounts compare to brick and mortar bank rates.
Opening an account with TAB Bank is not done entirely online. The application is online. You must print off the application and fill out the information. Once the application is complete, you can email, fax, or mail it to TAB Bank.
TAB Bank customer service is not always available. TAB customer service is open Monday through Friday from 6 a.m. to 7 p.m. Mountain Time. On Saturday they open from 9 a.m. to 3 p.m. TAB customer service is closed Sunday and federal holidays.
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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.