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Fremont 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
Fremont Bank Savings
0.02% APY

Overview

Our Rating: 4.0/5 How we calculated this rating

Fremont Bank first started operating in 1964 and its headquarters are located in Fremont, California. Fremont Bank owns assets totaling $4 billion and deposits totaling $3 billion, making it a large bank. Fremont Bank does not have the same customer service perks that others do. It is a conventional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. With an average 4 out of 5 stars, Fremont Bank proves it is a good bank that deserves your consideration. 

Fremont Bank has a varied selection of product offerings, including savings accounts, checking accounts, CDs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate, which means you can find higher rates with other banks. The bank's standard checking product carries a $9.00 monthly fee, which may be better for customers that will always carry a large balance. Opening accounts in one place is best for getting the largest interest rates on your deposits while maintaining access to your funds without having to wait for money to transfer between accounts.

Service Quality

Fremont Bank is a brick-and-mortar bank, with 22 total bank locations in California. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 7:00 p.m. PT; Saturday and Sunday, 8:30 a.m. to 5:00 p.m. PT. 

Fremont Bank receives fairly high praise from users for its mobile app: with 88 ratings on both iOS and Android platforms, the Fremont Bank mobile app has an overall rating of 3.5 out of 5 (compared to the national average of 3.8). You can utilize Fremont Bank's mobile app to manage your accounts by looking at current statements, sending and receiving funds as well as accessing support representatives. Fremont Bank receives a superb consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.02% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.10% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.10% APY
  • 60 Month: 1.25% APY
$10,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.10% APY
  • 25K tier: 0.15% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.02% APY $100 Compare Offers

It has several deposit products which include savings accounts, checking accounts and CDs, meaning you have many options to manage your money. Fremont Bank does not have the best savings rate, which means you should consider other options 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. Fremont Bank's CD rates are competitive in comparison to other U.S. banks. 

Rates

Fremont Bank has a savings rate of 0.02%, which is fair in comparison to other U.S. banks. Its one-year CD earns at a rate of 0.25% and the five-year CD earns at a rate of 1.25%, while its highest-yielding money market account has a rate of 0.06%. Fremont Bank has a fair savings rate compared to the average savings account. Consider looking elsewhere to open savings accounts.

Compare Fremont Bank to Other Competitive Offers

Fees

Fremont Bank charges its customers average fees compared to the average U.S. bank. Its checking account has a monthly fee of $9.00, which makes it fair for anyone looking for a hassle-free account. For those who regularly visit the ATM, it is perfect because it has no ATM fees. Also, Fremont Bank has an overdraft fee of $30, which is markedly less than the national average overdraft fee, making it perfect for those who frequently overdraft. Fremont Bank refunds any incurred ATM fees, which means convenient access to cash at any time.

Financial Health

Fremont Bank is currently a large bank and handles assets totaling $4 billion and deposits totaling $3 billion. Fremont Bank's Texas Ratio is 2.50%, indicating that Fremont Bank is in superb financial condition and exceedingly far from failure. Additionally, Fremont Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Fremont Bank Near Me

Fremont Bank has 22 branches across the U.S.

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