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Royal Bank Review

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Royal Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1932, Royal Bank has $415 million in assets and deposits totaling $355 million, making the institution a medium-size bank. Royal Bank, whose headquarters are in Elroy, Wisconsin, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional 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 4.2 out of 5 stars, Royal Bank should be solidly in contention for your choice of bank. Royal Bank offers an array banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Royal Bank offers an option without a monthly fee. Institutions that offer free checking, in addition to a high savings APY are the best option for returning the most income from 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

Royal Bank has a savings rate of 0.10%, which is poor compared to the national average. Its one-year CD earns at a rate of 1.00%, while its highest-yielding money market account has a rate of 0.25%. Given its poor savings rate, you should consider looking elsewhere to open savings accounts.

How Royal Bank's Savings Rates Compare

Royal Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Royal Bank charges its customers extremely low fees compared to other U.S. banks. Royal Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Royal Bank does not reimburse out-of-network ATM fees, meaning you will be required to find a Royal Bank ATM or eat the withdrawal fee.

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

Royal Bank is a brick-and-mortar bank, with 19 total branches in Wisconsin. With mobile and web apps, Royal Bank makes account access convenient, even on the go. Royal Bank's online and mobile banking services get mediocre scores from users. With 120 customer reviews across both Apple and Android platforms, the Royal Bank mobile app is scored at 3.3 out of 5 (compared to the national average of 3.8). Royal Bank's mobile app allows you to manage your funds by looking at account balances, transferring money and reaching customer service. Royal Bank gets a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Royal Bank is currently a medium-size bank with assets totaling $415 million as well as $355 million in deposits. Royal Bank's Texas Ratio is 3.99%, signifying that the bank is in terrific financial well-being and far from failure. Additionally, Royal Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

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 Royal Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.11% APY
  • 36 Month: 1.26% APY
  • 48 Month: 2.27% APY
$500 for all terms
Money Market Account 0.15% APY $5001

Royal Bank has several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Royal 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. Royal Bank's CD rates are fair compared to the average U.S. bank.

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Find a Royal Bank Near Me

Royal Bank has 19 physical branches in the U.S.

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