At a glance

3.7

Bankrate Score

CDs

Checking

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

Amerant Bank offers deposit products to consumers throughout the country, and it’s also an option for those living in Florida or Texas looking for a community bank.

Highlights

Free Checking
Low Fees
Low Min Deposit

Overall

Amerant Bank offers a full range of online accounts to residents anywhere in the U.S., and the bank also maintains 16 locations in Florida and six in Texas – with four in Houston. Plenty of fee-free ATMs are available to checking account customers, and minimum balance requirements are generally low. While rates are higher than national averages, better annual percentage yields (APYs) can be found at other banks.

Pros

Amerant offers lots of free ATMs to checking account customers, including at the bank’s branches, Publix supermarkets and the more than 55,000 Allpoint ATM locations worldwide.
The app is available on Apple Watches.

Cons

Some products and promotions are limited to those in Florida and Texas.
Higher rates on banking products can be found elsewhere.

We want to know what you think about Amerant Bank

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Amerant Bank banking products

3.0

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

0.05%

1/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance for APY:

$50.00

5/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$5.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$1.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Great

5/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FEATURES

0.05% APY

APY last updated between 11/14 and 11/20.

$50 minimum balance for APY

$50 minimum deposit to open

Amerant Bank savings overview

Amerant’s savings account requires just $50 to open the account, but higher yields can be found elsewhere. There is a $5 monthly service fee, which can be avoided by maintaining a monthly balance of at least $300, or by having a checking or money market with the bank that has a monthly balance of $1 or more.

Pros

Only $50 is needed to open the account.

Cons

Higher APYs are available elsewhere.
A balance of at least $25,000 is needed to obtain the highest APY.

Rate history for Amerant Bank's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Amerant Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Amerant Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

3.4

/5

See methodology Compare CD rates

SCORE BREAKDOWN

APY offering:

4.15%

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.

Minimum deposit:

$10,000.00

2/5

The minimum deposit amount a financial institution requires in order to open a CD.

Range of term lengths:

3 mos – 5 yrs

4/5

A designated amount of time that funds must be held within a CD.

Early withdrawal penalty:

Average

3/5

A penalty incurred when funds have been withdrawn from a CD before its maturity date.

Offer no-penalty or bump-up CDs:

No

0/5

A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.

Offer IRA CDs:

No

0/5

An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.

FEATURES

1.50% – 4.15% APY

APY last updated between 11/14 and 11/20.

$10,000 minimum balance for APY

$10,000 minimum deposit to open

3 months – 5 years

Amerant Bank CD overview

Amerant bank offers nine terms of CDs to residents of Florida and Texas, while five terms are available to those who reside elsewhere. Yields on the CDs are above national averages, but more competitive rates can be found at other banks. What’s more, a relatively high minimum deposit is required.Those who withdraw funds from an Amerant Bank promotional CD at any point before it matures are charged a penalty of 180 days’ worth of interest on the amount withdrawn. These CDs are only available in Florida and Texas. Amerant Bank’s promotional CD required money to come from outside of Amerant Bank, during Bankrate’s review.

Pros

Yields on CDs are above national averages.
A wide range of terms are available to Florida and Texas residents.

Cons

There are no specialty CDs available, such as no-penalty or step-up CDs.
There’s a high minimum deposit of $10,000 to open a CD.
Some of the terms aren’t offered to residents of most states.
The promotional CD APY is only available for balances of $10,000 to $250,000 per account.

Rate history for Amerant Bank's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Amerant Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Amerant Bank

APY

APY last updated between 11/14 and 11/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

2.4

Bankrate Score

Compare top money market rates

Amerant Bank money market overview

An Amerant Money Market account can be opened with as little as $100. The account offers tiered rates that pay higher APYs on larger balances. The highest rate tier is earned on accounts with balances of $500,000 or more.

Amerant also offers a Relationship Money Market account, which pays a competitive rate and requires a minimum opening balance of just $100. The monthly service fee is a steep $150, which can be avoided by having a Relationship Interest Checking account.

Pros

Both money market accounts have a complimentary starter kit of checks.
The minimum deposit requirement to open an account is low.

Cons

The Money Market account offers tiered rates that are not competitive.
A high balance is required in order to avoid the Money Market account monthly service fee.

4.5

Bankrate Score

Compare top checking rates

Amerant Bank checking overview

Amerant offers a few checking account options: Value Checking, Interest Checking and Relationship Interest Checking.

The Value Checking account is the bank's basic free option. It requires $50 to open, and the $5 monthly service fee can be waived by signing up for online statements, enrolling in direct deposit or completing four debit card transactions per statement cycle.

The Interest Checking account offers tiered interest rates starting on balances of at least $100. It also requires $100 to open. To avoid the $15 monthly service fee, account holders need to maintain an average balance of $2,500 each statement cycle.

The Relationship Interest Checking account is a step up from the Interest Checking account. It has a $35 monthly maintenance fee, which can be waived by maintaining $50,000 in combined deposits across eligible accounts or loans, as well as setting up monthly direct deposit or making four transactions per statement cycle.

Pros

Free access to ATMs though the Allpoint network and to Presto ATMs at Publix Super Markets.
Access to Zelle, Samsung Pay, Apple Pay and Google Pay

Cons

The interest-bearing checking account’s monthly fee is steep, and so are the requirements to waive the fee.

Compare Offer

Customer experience

Amerant Bank's mobile banking app receives mixed reviews on both iOS and Android, but it’s capable of fundamental tasks, such as depositing a check. The app can also be viewed on the Apple Watch. Customers have access to Zelle as well as mobile payment services Apple Pay, Samsung Pay and Google Pay.

Customer service representatives are available 7 a.m. to 8 p.m. Eastern time, Monday-Friday, and 8 a.m. to 5 p.m. on weekends.

About Amerant Bank

Amerant Bank, formerly Mercantil Bank, opened its first banking center in 1979. It is based in Coral Gables, Florida, and offers a full selection of banking products, including checking accounts, a savings account, money market accounts and CDs.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Amerant Bank APY APY last updated between 11/14 and 11/20. APY last updated between 11/14 and 11/20	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
11/05/2024	0.05%	0.56%
10/01/2024	0.05%	0.57%
09/03/2024	0.05%	0.61%
05/07/2024	0.05%	0.59%
04/02/2024	0.05%	0.58%
03/05/2024	0.05%	0.57%
01/02/2024	0.05%	0.58%
12/05/2023	0.05%	0.57%
11/21/2023	0.05%	0.61%

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Amerant Bank APY APY last updated between 11/14 and 11/20. APY last updated between 11/14 and 11/20	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
11/19/2024	3.75%	1.42%
10/01/2024	4.00%	1.42%
09/03/2024	4.00%	1.43%
08/06/2024	4.00%	1.44%
07/02/2024	4.00%	1.42%
06/04/2024	4.00%	1.43%
04/30/2024	4.00%	1.42%
04/02/2024	2.75%	1.42%
03/12/2024	2.75%	1.43%
02/06/2024	2.75%	1.42%
12/05/2023	2.75%	1.43%
11/21/2023	2.75%	1.45%

Amerant Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Amerant Bank

Amerant Bank banking products

Amerant Bank savings overview

Pros

Cons

Rate history for Amerant Bank's Savings account

Amerant Bank CD overview

Pros

Cons

Rate history for Amerant Bank's CD accounts

Amerant Bank money market overview

Pros

Cons

Amerant Bank checking overview

Pros

Cons

Customer experience

About Amerant Bank

Review methodology

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