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SouthEast Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
SouthEast Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

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.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

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 Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

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.

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

4.0
SmartAsset Average: 3.7

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.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

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.

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Compare SouthEast Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.35% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.45% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.65% APY
$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.

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Find a SouthEast Bank Near Me

SouthEast Bank has 16 physical branches across the U.S.

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