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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

Entegra Bank was founded in 1922 and its headquarters are located in Franklin, North Carolina. It owns assets of $2 billion as well as $1 billion in deposits, classifying it as a large bank. Entegra Bank has above-average customer service access with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4 out of 5 stars, Entegra Bank proves it is a respectable bank that gets the job done. Entegra Bank offers a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Entegra Bank offers an option without a maintenance or monthly fee. Banks that offer no-fee checking as well as a high savings APY are your best bet for gaining the most income from your deposits alongside easy 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 in comparison to the average U.S. bank. Entegra Bank's one-year CD has a rate of 0.41% and the five-year CD earns at a rate of 1.77%, while its highest-yielding money market account earns at a rate of 0.15%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

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

Entegra Bank generally has average fees compared to the average U.S. bank. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, Entegra Bank is fair because it charges an out-of-network ATM fee of $2.00, which is reasonable in comparison to the national average. Additionally, at $35.00, Entegra Bank has a lower overdraft fee compared to the average U.S. overdraft fee. Entegra Bank doesn't reimburse out-of-network ATM fees, which means you will have to search for an Entegra Bank ATM or accept 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 bank locations in Georgia, North Carolina and South Carolina. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its 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. Entegra Bank also offers a live chat feature, a helpful way to reach a representative during the work day. Entegra Bank's online and mobile banking services receive mediocre marks from customers. Out of 71 ratings across Apple and Android platforms, the Entegra Bank mobile app has an overall rating of 3.4 out of 5 (compared to the national average of 3.8). You can use Entegra Bank's mobile app to manage your accounts by checking account balances, transferring money and reaching customer service. Entegra Bank gets a superb consumer satisfaction score based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 ranks as a large bank owning $2 billion in assets as well as $1 billion in deposits. Entegra Bank's Texas Ratio is 4.12%, indicating a low likelihood of 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 Account 0.1% APY $1000

Entegra Bank has 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 as compared against the national average.

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Find a Entegra Bank Near Me

Entegra Bank has 18 physical branches across the U.S.

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