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Golden Bank Review

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Golden Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1985, Golden Bank has $806 million in assets and deposits totaling $648 million, which makes the institution a medium-size bank. Golden Bank, whose headquarters are in Houston, Texas, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, Golden Bank is an average bank that leaves room for improvement, with a score of 3.7 stars out of 5 from the SmartAsset team. Golden Bank has a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. Using an institution with free checking as well as a high interest rate savings account is the best bet for getting the highest income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

Golden Bank has a savings rate of 0.25%, which is poor compared to other U.S. banks. Golden Bank's one-year CD has a rate of 1.40%, while its highest-yielding money market account has an APY of 0.25%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Golden Bank's Savings Rates Compare

Golden Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

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

Monthly Fee N/A 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

Golden Bank is a brick-and-mortar bank, with seven total bank locations in California and Texas. With a mobile app, Golden Bank provides straightforward account access, even from home or work. Golden Bank gets an exceptional consumer satisfaction score due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed 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

4.9
SmartAsset Average: 4.8

Golden Bank is a medium-size bank with $806 million in assets as well as $648 million in deposits. It has an excellent Texas Ratio of 2.83%, denoting a minute chance of failure. Additionally, Golden Bank 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 Golden Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 1.40% APY
  • 24 Month: 2.30% APY
  • 36 Month: 2.10% APY
$1500 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

Golden Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Golden Bank 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. Golden Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Golden Bank Near Me

Golden Bank has seven physical branches in the U.S.

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