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EagleBank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
EagleBank Savings
1.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

EagleBank was founded in 1998 and is headquartered in Bethesda, Maryland. EagleBank manages $7 billion in assets as well as $6 billion in deposits, which makes it a large bank. EagleBank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave EagleBank a 4.2 stars out of 5, indicating that it is a solid contender in your bank search. EagleBank offers a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. EagleBank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, EagleBank's ordinary checking account does not have a monthly fee. Using an institution with free checking as well as a high savings APY is your best bet for getting the highest income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

4.1
SmartAsset Average: 3.5

With a savings rate of 1.05%, EagleBank ranks poorly in comparison to the national average. EagleBank's one-year CD earns at a rate of 2.45% and the five-year CD has a rate of 2.93%, while its highest-yielding money market account earns at a rate of 0.90%. Given EagleBank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How EagleBank's Savings Rates Compare

EagleBank Savings 1.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

EagleBank generally has extremely low fees compared to the average U.S. bank. With no monthly fee, EagleBank's checking account is perfect for those who need an easy checking account. EagleBank doesn't refund out-of-network ATM charges, which means you will need to find an EagleBank ATM or eat 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
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Service Quality

2.5
SmartAsset Average: 3.7

EagleBank is a brick-and-mortar bank, with 22 total branches in District of Columbia and Virginia. With mobile and web apps, EagleBank makes mobile banking convenient, even on the go. You can use EagleBank's app to control your accounts by looking at current statements, sending and receiving funds and reaching support representatives. EagleBank receives a superb consumer satisfaction score based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

EagleBank is a large bank with assets totaling $7 billion as well as deposits totaling $6 billion. Its Texas Ratio is 1.14%, denoting that EagleBank is in outstanding financial shape and unlikely to fail. Additionally, EagleBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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.

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Compare EagleBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 1.05% APY $250
Checking Account 0.15% APY $2500
Certificates of Deposit
  • 12 Month: 2.45% APY
  • 24 Month: 2.70% APY
  • 36 Month: 2.83% APY
  • 48 Month: 2.88% APY
  • 60 Month: 2.92% APY
$1000 for all terms
Money Market Accounts 0.85% APY 0.9% APY $10000 $15000

EagleBank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. EagleBank does not have the best savings rate, which means you should think about other options 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. EagleBank's CD rates are fair in comparison to the national average.

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Find a EagleBank Near Me

EagleBank has 22 physical locations in the U.S.

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