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Sunrise Banks Review

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Sunrise Banks Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1962, Sunrise Banks has assets totaling $990 million and $877 million in deposits, which makes it a medium-size bank. Sunrise Banks, whose headquarters are in Saint Paul, Minnesota, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Sunrise Banks is a decent choice, but with better options out there, with a score of 3.8 out of 5 stars from our experts. Sunrise Banks offers a choice of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Sunrise Banks's standard checking does not carry a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best option for getting the most income on your deposits while maintaining easy access to your funds.

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

With a savings rate of 0.05%, Sunrise Banks ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.35% and 1.26%, respectively, while its highest-yielding money market account has an APY of 0.05%. Given its noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How Sunrise Banks's Savings Rates Compare

Sunrise Banks Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Sunrise Banks typically has extremely low fees as compared against the national average. With no monthly fee, Sunrise Banks is ideal for people who want a simple banking experience. Sunrise Banks does not refund out-of-network ATM fees, which means you will need to locate a Sunrise Banks ATM or pay the 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

Sunrise Banks is a brick-and-mortar bank, with seven total branches in Minnesota and South Dakota. It also offers access to mobile and web apps for straightforward access and banking on the go. Sunrise Banks's mobile app lets you manage your finances by looking at current statements, sending and receiving money as well as reaching support representatives. Sunrise Banks gets a superb consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

SmartAsset Average: 4.8

Sunrise Banks is a medium-size bank owning assets totaling $990 million as well as deposits totaling $877 million. Sunrise Banks has an excellent Texas Ratio of 3.44%, indicating that the bank is in terrific financial health and far from failure. Additionally, Sunrise Banks 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 Sunrise Banks to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $50
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.75% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.26% APY
$500 for all terms
Money Market Account 0.05% APY $1

Sunrise Banks has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Sunrise Banks does not have the best savings rate, which means you should consider taking a look 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. Sunrise Banks's CD rates are fair in comparison to other U.S. banks.

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Find a Sunrise Banks Near Me

Sunrise Banks has seven locations across the U.S.

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