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Rising Bank Review 2024

Updated January 2, 2024
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At a glance

Overview

Rising Bank is ideal for savers who are comfortable banking online and are interested in earning some of the highest rates tied to deposit products. However, note that a maximum of $550 per business day is all you’re able to withdraw from your Rising Bank checking or savings account.

Highlights:

High APY Low Fees
4.5
Rating: 4.5 stars out of 5
Bankrate Score

CDs

Rating: 4.5 stars out of 5
4.5 /5

Checking

Rating: 4.2 stars out of 5
4.2 /5

Savings

Rating: 4.7 stars out of 5
4.7 /5
Sponsored offers

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
3.60
%
APY
As of 5/27/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Checking Account
0.50
%
APY
As of 5/27/2025
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Bank logo
Member FDIC
Checking Account
0.00
%
APY
As of 5/27/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon

Overall

Rising Bank is a newer online division of Midwest BankCentre, a St. Louis-based community bank that’s been around for more than a century. Because it’s an online-only bank, you won’t find physical branches to visit, but you can withdraw money through Rising Bank’s network of ATMs scattered across the U.S. The bank offers competitive yields for its CDs, savings and checking accounts, but you’ll need to be comfortable doing your banking completely online.

Pros

  • Checkmark Icon

    Rising Bank offers savers competitive rates.

  • Checkmark Icon

    There are no monthly fees for its bank products.

  • Checkmark Icon

    The checking account earns interest if you meet the minimum balance requirement.

Cons

  • A money market account isn’t offered.

  • There’s an early closure fee for accounts closed within 120 days of opening.

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We want to know what you think about Rising Bank

Do you have experience with Rising Bank? Let us know your thoughts.

Rising Bank banking products

4.7
/5
Rating: 4.7 stars out of 5
SCORE BREAKDOWN
APY offering:
4.30%
Rating: 5 stars out of 5
5/5
Minimum balance for APY:
$1,000.00
Rating: 3 stars out of 5
3/5
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Access to funds:
Good
Rating: 4 stars out of 5
4/5
FEATURES
Invest Rate Icon
4.30% APY
Savings Icon
$1,000 minimum balance for APY
Loan Icon
$1,000 minimum deposit to open

Rising Bank savings overview

Rising Bank offers a competitive rate on its High Yield Savings account, though it only applies to balances of $1,000 or more. There’s no monthly service fee, but there’s a $5 fee if you have no savings account activity for 24 consecutive months.

Pros

  • Checkmark Icon

    The account offers a competitive APY.

  • Checkmark Icon

    There’s no monthly fee.

Cons

  • Some banks have lower or no minimum balance requirements.

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

    Rising Bank
    APY
    National average APY

    Display historical averages

    Line chart with 2 lines.
    The chart has 1 X axis displaying Time. Data ranges from 2024-05-01 04:00:00 to 2025-05-20 00:00:00.
    The chart has 1 Y axis displaying values. Data ranges from 0.56 to 5.
    End of interactive chart.
    How do we get this data?

Bank fees

Fee Charges
Overdraft fee $25
Non-sufficient funds fee $25
Monthly maintenance fee None
Out-of-network ATM fee None
Excessive transaction fee None
Dormant account fee $5 per statement cycle after 12 months of no activity

Customer experience

Highly-rated mobile app. Rising Bank offers several resources to help customers manage finances, including online calculators and a mobile banking app. The mobile app is highly rated on Google Play and the Apple App Store (but note neither app has been reviewed by many people). Apps features include account alerts, branch and ATM search, and the ability to add notes and photos of receipts to transactions. Plus, it comes with Zelle for transferring money to others.

Customer service. Customer service representatives are available by phone, though the available hours are not specified on the bank’s website. Account holders also have access to secure messaging 24 hours a day, seven days a week.

ATM access. Rising Bank has no branches. To access cash, customers can transfer money to a linked external account or visit a MoneyPass ATM (the bank's ATM partner).

About Rising Bank

Rising Bank is an online-only bank launched in 2018 by Midwest BankCentre, a community bank that serves the St. Louis area. Rising Bank offers certificates of deposit, a high-yield savings account and a checking account. The bank also offers small business loans, home loans and insurance policies. 

How Rising Bank compares to other banks

Compare different account types offered by Rising Bank. Annual percentage yields (APYs) shown were updated between May 20, 2025 and May 26, 2025.

Selected bank
Rising Bank savings account
Rising Bank Logo
Member FDIC
Bankrate score
Rating: 4.7 stars out of 5
4.7
Most comparable
CIBC Bank USA savings account
CIBC Bank USA Logo
Member FDIC
Bankrate score
Rating: 4.9 stars out of 5
4.9
Read review
Search for or select a bank:
Caret Down Icon
BrioDirect savings account
BrioDirect logo
Member FDIC
Bankrate score
4.9
Read review
APY
4.30% 4.11% 4.30%
Minimum balance for APY
$1,000.00 $1.00 $25.00
Estimated earnings
$2,150 $2,055 $2,150
Rising Bank offers a competitive rate on its High Yield Savings account, though it only applies to balances of $1,000 or more. There’s no monthly service fee, but there’s a $5 fee if you have no savings account activity for 24 consecutive months. The CIBC Bank USA Agility Savings Account offers a very competitive yield. There’s no monthly fees, although you’ll need to have at least $1,000 to open an account. The BrioDirect High-Yield Savings Account offers a competitive yield and it doesn’t have a monthly service fee. There's a required minimum opening deposit of $5,000 for this account, and you must maintain $25 in the account to earn interest.
  • The account offers a competitive APY.
  • There’s no monthly fee.
  • You won’t pay a monthly service fee with CIBC’s Agility savings account.
  • You’ll earn a very competitive yield with this account.
  • BrioDirect offers a competitive yield on its High-Yield Savings Account.
  • This account doesn’t have a monthly service fee.
  • Some banks have lower or no minimum balance requirements.
  • A $1,000 minimum opening deposit is required to open the CIBC Agility Savings account.
  • It requires a minimum deposit of $5,000 to open the account, which is higher than many other banks.
  • You must maintain $25 in the account to earn interest.
APY offering:
4.30%
5/5
Minimum balance for APY:
$1,000.00
3/5
Monthly service fee:
$0.00
5/5
Minimum balance to avoid fee:
$0.00
5/5
Access to funds:
Good
4/5
APY offering:
4.11%
5/5
Minimum balance for APY:
$1.00
5/5
Monthly service fee:
$0.00
5/5
Minimum balance to avoid fee:
$0.00
5/5
Access to funds:
Good
4/5
APY offering:
4.30%
5/5
Minimum balance for APY:
$25.00
5/5
Monthly service fee:
$0.00
5/5
Minimum balance to avoid fee:
$0.00
5/5
Access to funds:
Good
4/5

Rising Bank FAQs

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.