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Prosperity Bank Review

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Prosperity Bank Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Prosperity Bank was founded in 1949 with headquarters located in El Campo, Texas. It has $23 billion in assets as well as deposits totaling $18 billion, which makes it a very large bank. Prosperity Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. SmartAsset experts rated the bank 4.4 out of 5 stars, which means Prosperity Bank is a great choice and should warrant serious consideration. Prosperity Bank provides customers with a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Prosperity Bank offers an option without a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for accruing the most income on your deposits alongside easy access to your money.

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 0.40%, Prosperity Bank ranks poorly compared to the average U.S. bank. Its one-year CD has a rate of 1.15% and the five-year CD has a rate of 2.07%, while its highest-yielding money market account has a rate of 0.75%. Given Prosperity Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.

How Prosperity Bank's Savings Rates Compare

Prosperity Bank Savings 0.40 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Prosperity Bank charges customers low fees compared to the average U.S. bank. Its checking account has no monthly fee, making it excellent for anyone looking for a simple account. Additionally, at $35.00, Prosperity Bank's overdraft fee is lower than the average overdraft fee charged by U.S. banks. Prosperity Bank doesn't reimburse out-of-network ATM fees, meaning you'll have to search for a Prosperity Bank ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Prosperity Bank is a brick-and-mortar bank, with 275 total bank locations in Oklahoma and Texas. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. CT; Saturday, and 9:00 a.m. to 5:00 p.m. CT. Prosperity Bank receives relatively high praise from customers for its online presence. Out of 1,700 customer reviews on Apple and Android platforms, the Prosperity Bank mobile app has an overall rating of 4.3 out of 5 (compared to the national average of 3.8). You can use Prosperity Bank's app to control your bank accounts by monitoring current statements, sending and receiving money and accessing support representatives. Prosperity Bank receives an exceptional consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 4.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Prosperity Bank is currently a very large bank owning $23 billion in assets as well as $18 billion in deposits. Prosperity Bank's Texas Ratio is 0.96%, suggesting that the bank is in excellent financial shape and improbable to fail. Additionally, Prosperity 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 Prosperity Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 1.76% APY
  • 36 Month: 1.86% APY
  • 60 Month: 2.07% APY
$10000 for all terms
Money Market Account 0.75% APY $2500

Prosperity 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. Prosperity 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. Prosperity Bank's CD rates are fair compared to the national average.

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Find a Prosperity Bank Near Me

Prosperity Bank has 275 branches in the U.S.

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