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Triumph Bank Review

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


Founded in 2006, Triumph Bank has $722 million in assets and deposits totaling $649 million, which makes the institution a medium-size bank. Triumph Bank, whose headquarters are in Memphis, Tennessee, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated Triumph Bank 4.5 out of 5 stars, suggesting it is an excellent bank that you should strongly consider. Triumph Bank provides customers with the full package of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Triumph Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's standard checking does not have a monthly charge. Institutions that offer no-fee checking, in addition to a high interest rate savings account are your best bet for returning the most income on your deposits while having convenient 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

Triumph Bank features a savings rate of 0.25%, which is poor as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.25% and 0.60%, respectively, while its highest-yielding money market account has a rate of 0.26%. Given Triumph Bank's poor savings rate, you should consider looking at the competition to open savings accounts.

How Triumph Bank's Savings Rates Compare

Triumph Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Triumph Bank charges customers extremely low fees compared to the average U.S. bank. Triumph Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Triumph Bank does not refund out-of-network ATM fees, which means you will have to search for a Triumph Bank ATM or pay 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

SmartAsset Average: 3.7

Triumph Bank is a brick-and-mortar bank, with four total bank locations in Tennessee. It also offers access to mobile and web apps for simple access and banking on the go. Triumph Bank receives fair feedback from customers for its mobile platform. With 15 customer reviews across iOS and Android platforms, the Triumph Bank mobile app is scored at 3.5 out of 5 (compared to the national average of 3.8). Triumph Bank's mobile app lets you manage your accounts by reviewing account balances, transferring money and reaching customer service. Triumph Bank gets an outstanding consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Triumph Bank is currently a medium-size bank and handles $722 million in assets as well as deposits totaling $649 million. Triumph Bank has an excellent Texas Ratio of 4.01%, signifying a negligible probability of failure. Additionally, Triumph 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 Triumph Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.25% APY $1000
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.50% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.60% APY
  • 60 Month: 0.60% APY
$1000 for all terms
Money Market Account 0.21% APY $1

Triumph Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Triumph Bank does not have the best savings rate, which means you should think about other options 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. Triumph Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Triumph Bank Near Me

Triumph Bank has four physical locations across the U.S.

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