Kearny Bank was founded in 1884 with headquarters in Kearny, New Jersey. It has $5 billion in assets along with deposits totaling $3 billion, ranking it as a large bank. Kearny Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated the bank 4.3 out of 5 stars, which means Kearny Bank is a solid pick to be your bank. Kearny Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Kearny Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Kearny Bank's standard checking account does not have a monthly maintenance charge. Using a bank with no-fee checking as well as a high savings APY is the best option for returning the highest income from your deposits while having easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Kearny Bank features a savings rate of 0.10%, which is fair in comparison to the national average. Its CDs feature a rate of 1.28% and 2.31% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.10%. Given Kearny Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.
How Kearny Bank's Savings Rates Compare
Kearny Bank charges its customers extremely low 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. Kearny Bank unfortunately doesn't refund out-of-network ATM fees, meaning you'll need to find a Kearny Bank ATM or pay the ATM charge.
Kearny Bank is a brick-and-mortar bank, with 56 total branches in New Jersey and New York. With mobile and web apps, Kearny Bank makes mobile banking convenient, even on the go. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 4:00 p.m. ET; Saturday, 10:00 a.m. to 3:00 p.m. ET; Sunday, and 10:00 a.m. to 2:00 p.m. ET. Kearny Bank gets unsatisfactory feedback from customers for its mobile platform. The Kearny Bank mobile app scored a 3.2 out of 5 (out of 46 reviews on Apple and Android) compared to the national average of 3.8. You can use Kearny Bank's mobile app to control your finances by monitoring account balances, transferring funds as well as accessing support representatives. Kearny Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Kearny Bank is currently a large bank with $5 billion in assets as well as $3 billion in deposits. It has an excellent Texas Ratio of 2.04%, denoting that Kearny Bank is in terrific financial shape and far from failure. Additionally, Kearny 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.Back to Overview
Compare Kearny Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.1% APY||$100|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.1% APY||$2500|
Kearny Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Kearny Bank does not have the best savings rate, which means you should consider taking a look 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. Kearny Bank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Kearny Bank Near Me
Kearny Bank has 56 locations in the U.S.Back to Overview