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RSI Bank Review

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RSI Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1851, RSI Bank has assets totaling $515 million and deposits totaling $407 million, classifying the institution as a medium-size bank. RSI Bank, whose headquarters are in Rahway, New Jersey, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, RSI Bank is a superb bank that would be an ideal pick, with a score of 4.5 out of 5 stars from our experts. RSI Bank has the full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. RSI 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, RSI Bank offers an option without a maintenance or monthly fee. Banks that offer no-fee checking, in addition to a high interest rate savings account are your best option for getting the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

4.1
SmartAsset Average: 3.5

With a savings rate of 0.25%, RSI Bank ranks poorly in comparison to the national average. RSI Bank's one-year CD earns at a rate of 1.80% and the five-year CD earns at a rate of 1.90%, while its highest-yielding money market account earns at an APY of 0.35%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

How RSI Bank's Savings Rates Compare

RSI Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

RSI Bank charges its customers extremely low fees compared to other U.S. banks. With no monthly fee, RSI Bank is perfect for people who want a simple banking experience. For those who withdraw cash routinely, RSI Bank is ideal because it has no out-of-network ATM fees. RSI Bank unfortunately does not reimburse out-of-network ATM fees, which means you will need to search for a RSI Bank ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.2
SmartAsset Average: 3.7

RSI Bank is a brick-and-mortar bank, with four total bank locations in New Jersey. It also offers access to mobile and web apps for easy access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Wednesday, 8:00 a.m. to 6:00 p.m. ET; Thursday and Wednesday, 8:00 a.m. to 7:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. RSI Bank gets high praise from customers for its online presence. The RSI Bank mobile app has an overall rating of 4.5 out of 5 (with 180 reviews on Apple and Android) compared to the national average of 3.8. RSI Bank's mobile app lets you control your funds by reviewing current statements, transferring money and reaching customer service. RSI Bank gets an exceptional consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

RSI Bank is a medium-size bank with $515 million in assets and $407 million in deposits. Its Texas Ratio is 6.16%, suggesting that RSI Bank is in good financial well-being and far from failure. Additionally, RSI Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.16%
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 RSI Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $10
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 1.80% APY
  • 24 Month: 1.70% APY
  • 36 Month: 2.40% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.90% APY
$1000 for all terms
Money Market Accounts 0.35% APY 0.35% APY $10000 $15000

RSI Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. RSI 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. RSI Bank's CD rates are fair in comparison to other U.S. banks.

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Find a RSI Bank Near Me

RSI Bank has four physical branches across the U.S.

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