Reliant Bank was founded in 2006 and has its headquarters in Brentwood, Tennessee. It manages $1 billion in assets as well as $885 million in deposits, ranking it as a medium-size bank. Reliant Bank 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 apps. With a score of 4.3 stars out of 5, Reliant Bank should be solidly in contention for your choice of bank. Reliant Bank provides customers with a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Reliant Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Reliant 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 gaining the most income from your deposits alongside 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 0.05%, Reliant Bank ranks poorly compared to the national average. Its CD rates are 1.20% and 1.92% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.20%. Given Reliant Bank's below average savings rate, you should consider other options to earn more on your deposits.
How Reliant Bank's Savings Rates Compare
Reliant Bank typically has extremely low fees compared to the average U.S. bank. With no monthly fee, Reliant Bank's checking account is ideal for people who need a hassle-free banking experience. For those who often withdraw money from the ATM, it is perfect because it has no out-of-network ATM fees. Reliant Bank doesn't refund out-of-network ATM fees, meaning you'll need to find a Reliant Bank ATM or accept the withdrawal fee.
Reliant Bank is a brick-and-mortar bank, with 17 total branches in Tennessee. With mobile and web apps, Reliant Bank makes account access straightforward, even on the go. Reliant Bank gets fair marks from users for its mobile app. The Reliant Bank mobile app scored a 3.9 out of 5 (out of 30 reviews on Apple and Android) compared to the national average of 3.8. Reliant Bank's mobile app lets you control your finances by looking at account balances, transferring money and accessing customer service. Reliant Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Reliant Bank is currently a medium-size bank and has assets totaling $1 billion as well as deposits totaling $885 million. It has an excellent Texas Ratio of 3.50%, denoting that Reliant Bank is in outstanding financial condition and unlikely to fail. Additionally, Reliant 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 Reliant Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$1|
|Checking Account||0.15% APY||$1500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.2% APY||$10000|
Reliant Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Reliant 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. Reliant Bank's CD rates are fair as compared against the national average.Back to Overview
Find a Reliant Bank Near Me
Reliant Bank has 17 locations in the U.S.Back to Overview