Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Mega Bank Review

Your Details Done
by Updated
Mega Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Mega Bank first started operating in 2008 and has its headquarters in San Gabriel, California. It owns $352 million in assets and deposits totaling $279 million, ranking it as a small bank. Mega Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, Mega Bank is a good bank that deserves your consideration, with a rating of 4.1 stars out of 5 from our team. Mega Bank offers a choice of product offerings, including savings accounts, checking accounts, money market accounts and credit cards. Mega Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Mega Bank's standard checking account does not have a monthly fee. Locating a bank with free checking as well as a high savings APY is the best option for getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

With a savings rate of 0.25%, Mega Bank ranks poorly compared to the national average. Mega Bank's one-year CD has a rate of 1.21% and the five-year CD earns at a rate of 1.41%, while its highest-yielding money market account earns at a rate of 0.25%. Given Mega Bank's below average savings rate, you should think about other options to earn more on your deposits.

How Mega Bank's Savings Rates Compare

Mega Bank Savings 0.25 National Average 0.26 Compare Offers
Back to Overview


SmartAsset Average: 4.4

Mega Bank has generally extremely low fees in comparison to other U.S. banks. Mega Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Mega Bank doesn't refund out-of-network ATM fees, which means you will have to find a Mega Bank ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

SmartAsset Average: 3.7

Mega Bank is a brick-and-mortar bank, with five total bank locations in California. It also offers access to a web app, for a straightforward online-banking experience. Mega Bank gets a superb consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

SmartAsset Average: 4.8

Mega Bank is currently a small bank and handles $352 million in assets and deposits totaling $279 million. Its Texas Ratio is 3.68%, suggesting that the bank is in terrific financial health and far from failure. Additionally, Mega Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare Mega Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.25% APY $1000
Certificates of Deposit
  • 12 Month: 1.21% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.41% APY
  • 48 Month: 1.41% APY
  • 60 Month: 1.41% APY
$2500 for all terms
Money Market Account 0.25% APY $2500

Mega Bank offers several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. Mega Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Mega Bank's CD rates are fair compared to the national average.

Back to Overview

Find a Mega Bank Near Me

Mega Bank has five locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure