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Entegra Bank Review

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Entegra Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1922, Entegra Bank has assets totaling $2 billion as well as $1 billion in deposits, classifying the institution as a large bank. Entegra Bank, whose headquarters are in Franklin, North Carolina, has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Entegra Bank is a respectable bank that gets the job done, with a score of 4.0 out of 5 stars from the SmartAsset team. Entegra Bank has a variety of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Entegra Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Entegra Bank's standard checking account does not have a monthly fee. Locating an institution with free checking and a high interest rate savings account is the best bet for getting the most income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Entegra Bank has a savings rate of 0.05%, which is poor compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.41% and 1.77%, respectively, while its highest-yielding money market account has a rate of 0.15%. Given its below average savings rate, you should consider looking at the competition to open savings accounts.

How Entegra Bank's Savings Rates Compare

Entegra Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.2
SmartAsset Average: 4.4

On average, Entegra Bank charges customers average fees in comparison to the average U.S. bank. With no monthly fee, Entegra Bank's checking account is perfect for those who want an easy checking account. For those who will need cash in a pinch, Entegra Bank is fair because it has an out-of-network ATM fee of $2.00, which is reasonable as compared against the national average. Additionally, Entegra Bank has an overdraft fee of $35.00, which is on par with the national average overdraft fee. Entegra Bank doesn't refund out-of-network ATM charges, meaning you will have to search for an Entegra Bank ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

Entegra Bank is a brick-and-mortar bank, with 18 total branches in Georgia, North Carolina and South Carolina. With mobile and web apps, Entegra Bank makes mobile banking easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Thursday, 7:30 a.m. to 5:30 p.m. ET; Friday, and 7:30 a.m. to 6:00 p.m. ET. Additionally, Entegra Bank customers can access live chat for their banking questions or needs, which may provide helpful service without getting on the phone. Entegra Bank's online and mobile banking services receive poor feedback from customers. Out of 71 customer reviews on iOS and Android platforms, the Entegra Bank mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). You can access Entegra Bank's app to control your finances by checking current statements, transferring money as well as reaching customer service. Entegra Bank gets an exceptional consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.8
SmartAsset Average: 4.8

Entegra Bank is a large bank with $2 billion in assets as well as $1 billion in deposits. Its Texas Ratio is 4.12%, suggesting that the bank is in outstanding financial well-being and far from failure. Additionally, Entegra Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.12%
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.

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Compare Entegra Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.41% APY
  • 24 Month: 0.60% APY
  • 36 Month: 2.02% APY
  • 48 Month: 1.16% APY
  • 60 Month: 1.77% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

Entegra Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Entegra 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. Entegra Bank's CD rates are fair compared to the average U.S. bank.

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Find a Entegra Bank Near Me

Entegra Bank has 18 locations in the U.S.

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