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Five Star Bank 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
Five Star Bank Savings
0.25% APY

Overview

Our Rating: 4.2/5 How we calculated this rating

Founded in 1999, Five Star Bank has $973 million in assets as well as $868 million in deposits, which makes it a medium-size bank. Five Star Bank, whose headquarters are in Rocklin, California, does not have the access to customer service other banks offer. It is a traditional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. Coming in at a commendable 4.2 out of 5 stars, Five Star Bank is a great bank that you should seriously consider. 

Five Star Bank provides customers with a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. Five Star Bank offers an average savings account interest rate, appropriate if you need a place to hold your money. Why have checking and savings accounts with the same bank? Convenient transferring of funds between both accounts means you can still get higher interest rates in your savings account but still use your funds from your checking.

Service Quality

Five Star Bank is a brick-and-mortar bank, with six total bank locations in California. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 9:00 a.m. to 4:00 p.m. PT. 

Five Star Bank's online and mobile banking services receive high marks from customers: out of 5 customer reviews on iOS and Android platforms, the Five Star Bank mobile app has an overall rating of 4.2 out of 5 (compared to the national average of 3.8). You can utilize Five Star Bank's mobile app to control your funds by checking account balances, sending and receiving money and accessing customer service. Five Star Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.25% APY $1 Compare Offers
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.50% APY
  • 48 Month: 0.60% APY
  • 60 Month: 0.80% APY
$1,000 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.25% APY $2,5000 Compare Offers
Checking Accounts 0.25% APY $1 Compare Offers

Five Star Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Five Star Bank's CD rates are competitive compared to the national average.

Rates

Five Star Bank features a savings rate of 0.25%, which is moderate compared to the average U.S. bank. Its one-year CD has a rate of 0.20% and the five-year CD has a rate of 0.80%, while its highest-yielding money market account earns at a rate of 0.25%. Five Star Bank has a fair savings rate compared to the average savings account. Think about choosing another bank to earn more on your deposits.

Compare Five Star Bank to Other Competitive Offers

Fees

There is insufficient data on Five Star Bank's fees to provide a full SmartAsset rating.

Financial Health

Five Star Bank is currently a medium-size bank with assets totaling $973 million as well as deposits totaling $868 million. Five Star Bank has an excellent Texas Ratio of 2.82%, suggesting an exceptionally low likelihood of failure. Additionally, Five Star Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Five Star Bank Near Me

Five Star Bank has six branches across the U.S.

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