Founded in 2009, R Bank has assets totaling $454 million and $401 million in deposits, classifying it as a medium-size bank. R Bank, whose headquarters are in Round Rock, Texas, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.1 stars out of 5, indicating that R Bank is a respectable bank that warrants your consideration. R Bank offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. R 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, R Bank's ordinary checking account does not have a monthly fee. Locating a bank with no-fee checking, in addition to a high savings APY is your best option for getting the most income from your deposits while maintaining easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.35%, R Bank ranks poorly as compared against the national average. Its one-year CD earns at a rate of 1.21%, while its highest-yielding money market account earns at a rate of 0.35%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.
How R Bank's Savings Rates Compare
On average, R Bank charges customers extremely low fees as compared against the national average. With no monthly fee, R Bank's checking account is perfect for those who want a hassle-free checking account. R Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will have to search for an R Bank ATM or pay the cost of withdrawal.
R Bank is a brick-and-mortar bank, with eight total branches in Texas. With mobile and web apps, R Bank makes account access easy, even on the go. R Bank's mobile app lets you manage your funds by checking monthly statements, transferring funds and accessing customer service. R Bank receives a superb consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
R Bank ranks as a medium-size bank with assets totaling $454 million as well as deposits totaling $401 million. R Bank's Texas Ratio is 2.38%, signifying that R Bank is in outstanding financial shape and far from 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 Account||0.25% APY||$5000|
R Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. R 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. R Bank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a R Bank Near Me
R Bank has eight branches in the U.S.Back to Overview