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Quontic Bank Review

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Quontic Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 2005, Quontic Bank has $352 million in assets and deposits totaling $293 million, ranking the institution as a small bank. Quontic Bank, whose headquarters are in Astoria, New York, lacks premium access to customer service, with no live chat or all-day service options available. 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. At a SmartAsset rating of 4.8 out of 5 stars, Quontic Bank should be near the top of your list for your bank search. Quontic Bank offers a selection of product offerings, including savings accounts, checking accounts, CDs and mortgage products. Quontic Bank 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 does not carry a monthly fee. Institutions that offer free checking as well as a high savings APY are the best option for returning the most income on your deposits while having 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 0.50%, Quontic Bank ranks poorly in comparison to the national average. Quontic Bank's one-year and five-year term lengths CDs earn at a rate of 2.65% and 2.20%, respectively, while its highest-yielding money market account has a rate of 2.35%. Given Quontic Bank's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Quontic Bank's Savings Rates Compare

Quontic Bank Savings 0.50 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Quontic Bank charges its customers extremely low fees as compared against the national average. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Quontic Bank unfortunately does not refund out-of-network ATM charges, which means you will have to find a Quontic Bank ATM or pay the ATM charge.

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

Quontic Bank is a brick-and-mortar bank, with two total branches in New York. It also offers access to mobile and web apps for an easy mobile-banking experience. Quontic Bank's online and mobile banking platforms get great feedback from customers. The Quontic Bank mobile app has an overall rating of 4.6 out of 5 (with 28 reviews on Apple and Android) compared to the national average of 3.8. You can use Quontic Bank's mobile app to manage your funds by monitoring monthly statements, sending and receiving funds and accessing support representatives. Quontic Bank gets an outstanding consumer satisfaction score due to comparatively few consumer 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

Quontic Bank is a small bank with $352 million in assets and deposits totaling $293 million. It has an excellent Texas Ratio of 2.41%, denoting a negligible chance of failure. Additionally, Quontic 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 Quontic Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Checking Account 0.5% APY $100
Certificates of Deposit
  • 12 Month: 2.65% APY
  • 24 Month: 2.45% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.30% APY
  • 60 Month: 2.20% APY
$1000 for all terms
Money Market Account 2.35% APY $5000

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

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Find a Quontic Bank Near Me

Quontic Bank has two physical branches across the U.S.

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