SouthEast Bank first started operating in 2002 with headquarters in Farragut, Tennessee. SouthEast Bank handles assets of $1 billion and deposits totaling $1 billion, which makes it a large bank. SouthEast Bank lacks premium access to support representatives, 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 apps. On the whole, SouthEast Bank is a great bank that you should seriously consider, with a rating of 4.2 out of 5 stars from the SmartAsset team. SouthEast Bank offers a full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. SouthEast Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, SouthEast Bank's standard checking does not have a monthly maintenance fee. Finding an institution with free checking, in addition to a high savings APY is the best bet for accruing the highest income on your deposits alongside easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
SouthEast Bank features a savings rate of 0.05%, which is fair compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.20% and 0.65%, respectively, while its highest-yielding money market account has an APY of 0.10%. Given SouthEast Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.
How SouthEast Bank's Savings Rates Compare
SouthEast Bank generally has extremely low fees in comparison to other U.S. banks. With no monthly fee, SouthEast Bank's checking account is perfect for those who want an easy banking experience. SouthEast Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll be required to find a SouthEast Bank ATM or eat the cost of withdrawal.
SouthEast Bank is a brick-and-mortar bank, with 16 total bank locations in Tennessee. It also offers access to mobile and web apps for easy access and banking on the go. SouthEast Bank receives reasonably good scores from customers for its online presence. With 67 ratings across both Apple and Android platforms, the SouthEast Bank mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). SouthEast Bank's mobile app lets you control your finances by reviewing monthly statements, sending and receiving funds and accessing customer service. SouthEast Bank receives a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
SouthEast Bank is currently a large bank and owns $1 billion in assets and $1 billion in deposits. Its Texas Ratio is 2.13%, denoting that SouthEast Bank is in terrific financial condition and far from failure. Additionally, SouthEast 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 SouthEast Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$100|
|Checking Account||0.35% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.1% APY 0.1% APY||$10000 $15000|
SouthEast Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. SouthEast Bank does not have the best savings rate, which means you should consider 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. SouthEast Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a SouthEast Bank Near Me
SouthEast Bank has 16 physical branches across the U.S.Back to Overview