R Bank started in 2009 and is headquartered in Round Rock, Texas. It owns assets of $454 million as well as $401 million in deposits, ranking it as a medium-size bank. R Bank lacks premium access to customer service, 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 apps. At a SmartAsset rating of 4.1 stars out of 5, R Bank should be solidly in contention for your choice of bank. R Bank provides customers with a diverse array 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, R Bank's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is your best option for returning the most income on your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
R Bank has a savings rate of 0.35%, which is poor in comparison to the national average. Its one-year CD has a rate of 1.81%, while its highest-yielding money market account earns at a rate of 0.35%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.
How R Bank's Savings Rates Compare
On average, R Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, R Bank is ideal for those who want a simple banking experience. R Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will have to search for an R Bank ATM or accept the cost of withdrawal.
R Bank is a brick-and-mortar bank, with eight total branches in Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. R Bank's mobile app lets you manage your accounts by monitoring account balances, transferring money and accessing customer service. R Bank receives a superb consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
R Bank is currently a medium-size bank with assets totaling $454 million and deposits totaling $401 million. It has an excellent Texas Ratio of 2.38%, denoting a low possibility of failure. Additionally, R 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 R Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.35% APY||$200|
|Checking Account||0.1% APY||$1000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.25% APY 0.35% APY||$10000 $15000|
R 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. R 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. R Bank's CD rates are fair compared to the average U.S. bank.Back to Overview
Find a R Bank Near Me
R Bank has eight physical locations across the U.S.Back to Overview