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Ponce Bank Review

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Ponce Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1960, Ponce Bank has $924 million in assets and deposits totaling $753 million, making it a medium-size bank. Ponce Bank, whose headquarters are in Bronx, New York, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We ranked the bank at a 4.3 stars out of 5, indicating that Ponce Bank is a solid pick to be your bank. Ponce Bank provides customers with a full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. 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, the bank's standard checking account does not have a monthly maintenance charge. Institutions that offer free checking as well as a high savings APY are your best bet for getting the highest income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, Ponce Bank ranks poorly in comparison to the national average. Ponce Bank's one-year CD earns at a rate of 1.01% and the five-year CD earns at a rate of 1.85%, while its highest-yielding money market account earns at a rate of 0.25%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Ponce Bank's Savings Rates Compare

Ponce Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Ponce Bank has typically extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Ponce Bank doesn't refund out-of-network ATM fees, which means you will have to locate a Ponce Bank ATM or accept the withdrawal fee.

Monthly Fee $0 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

SmartAsset Average: 3.7

Ponce Bank is a brick-and-mortar bank, with 14 total branches in New Jersey and New York. With mobile and web apps, Ponce Bank makes mobile banking convenient, even on the go. Ponce Bank's online and mobile banking services get high praise from users. The Ponce Bank mobile app scored a 4.6 out of 5 (with 14 customer reviews on Apple and Android) compared to the national average of 3.8. Ponce Bank's mobile app lets you control your bank accounts by reviewing current statements, sending and receiving money and reaching customer service. Ponce Bank receives an excellent consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Ponce Bank ranks as a medium-size bank and owns assets totaling $924 million as well as deposits totaling $753 million. Ponce Bank has a strong Texas Ratio of 8.42%, indicating that the bank is in fine financial health and improbable to fail. Additionally, Ponce Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Ponce Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $500
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 1.01% APY
  • 24 Month: 1.10% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.85% APY
$1000 for all terms
Money Market Account 0.15% APY $10000

Ponce Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Ponce 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. Ponce Bank's CD rates are fair as compared against the national average.

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Find a Ponce Bank Near Me

Ponce Bank has 14 locations across the U.S.

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