Patriot Bank is a full-service bank that offers a fantastic high-interest savings account.
Getting interest on your savings is a great method to make your money grow. This is especially true if you don’t want to invest all your money. You want to make sure that you have access to part of your money when you need it. Patriot Bank Review: High-Interest Savings Accounts
But it can be challenging to find an APY that is somewhat attractive. That’s when Patriot Bank can help.
You can choose how to use your funds in their accounts. Check out our list of the Best Money Market Accounts to see why Patriot Bank is on it.
What Is Patriot Bank?
Patriot Bank opened its flagship branch in 1994. Since then, the full-service bank has expanded to over a dozen branches through Connecticut and New York. The goal of the branch is to provide helpful banking products while serving their community.
Beyond an emphasis on helping the local community, Patriot Bank offers online accounts with relatively high APYs.
What Does It Offer?
Patriot Bank could be the banking solution you’ve been looking for. Here’s what the bank has to offer. Patriot Bank Review: High-Interest Savings Accounts
Star Banking
The Star Banking account is the premium checking account offered by Patriot Bank. With this account, you’ll find many benefits, including:
- Unlimited ATM fee rebates
- Promo rates on savings account
- Personal financial calculators
- Free basic checks
- Free cashier’s cheques
You’ll need a minimum deposit of $100 to open the account. When using this account, you can easily manage all of the details online.
The biggest downside to this account is the $25 monthly maintenance fee. But you can avoid the fee by maintaining an average daily balance of $15,000 across all linked Patriot accounts. Patriot Bank Review: High-Interest Savings Accounts
Star Savings
Patriot Bank’s Star Savings account is the most attractive checking account offered by the bank. The most exciting feature of this account is the bonus APY.
The minimum deposit required to open this account is $100. But after that, there are no minimum balance requirements to maintain. But you’ll be stuck with a $12 monthly fee.
High-Yield Money Market Account
The Money Market Account offered by Patriot Bank is one of its top offerings. You’ll earn 3.95% on your balance with no minimum or tiers.
The interest rate is one of the best money market rates available and is offered in partnership with Raisin.
Open a Patriot Bank High-Yield Money Market Account here >>
Certificates of Deposit (CDs)
A certificate of deposit (CD) can be a good way to help your money grow in a low risk way. With Patriot Bank, you can open CDs with a minimum deposit of $1. The available CD terms range from 3 months to 5 years.
They also have a penalty-free CD, which is currently 17-months at 2.70% APY. This is a wonderful alternative to a savings account, since you can withdraw your money at any time without penalty. Open a 17-Month Penalty Free CD here >>Patriot Bank Review: High-Interest Savings Accounts
See how their rates compare to the Best 12 Month CD Rates here >>
Are There Any Fees?
Many of the accounts offered by Patriot Bank have a monthly maintenance fee. These monthly fees range from $5 to $25 per month. But you’ll be able to skip this fee if you meet relatively high balance requirements.
For example, with the Star Banking account, you can waive the $25 fee by keeping a minimum balance of $15,000 in your linked Patriot Bank accounts. Patriot Bank Review: High-Interest Savings Accounts
Patriot Bank Review: High-Interest Savings Accounts
Patriot Bank is a full-service bank with an amazing high-interest savings account. Patriot Bank Review: High-Interest Savings Accounts
Earning interest on your savings is a wonderful way to grow your funds. That’s especially true if you don’t want to rely on putting all of your funds into potentially more lucrative investment opportunities. You want to ensure that some of your funds are available when you need them.
But finding a relatively attractive APY can be challenging. That’s where Patriot Bank can step in to help. You’ll find options to put your savings to work in their accounts. See why Patriot Bank is on our list of the Best Money Market Accounts. Patriot Bank Review: High-Interest Savings Accounts
- One of the best yields on a money market account
- Since 1994, physical branches have been operational.
- Online banking
Patriot Bank opened its flagship branch in 1994. Since then, the full-service bank has expanded to over a dozen branches through Connecticut and New York. The goal of the branch is to provide helpful banking products while serving their community.
Beyond an emphasis on helping the local community, Patriot Bank offers online accounts with relatively high APYs.
What Does It Offer?
Patriot Bank could be the banking solution you’ve been looking for. Here’s what the bank has to offer. Patriot Bank Review: High-Interest Savings Accounts
Star Banking
The Star Banking account is the premium checking account offered by Patriot Bank. With this account, you’ll find many benefits, including:
- Unlimited ATM fee rebates
- Promo rates on savings account
- Personal financial calculators
- Free basic checks
- Free cashier’s cheques
You’ll need a minimum deposit of $100 to open the account. When using this account, you can easily manage all of the details online.
Star Savings
Patriot Bank’s Star Savings account is the most attractive checking account offered by the bank. The most exciting feature of this account is the bonus APY.
The minimum deposit required to open this account is $100. But after that, there are no minimum balance requirements to maintain. But you’ll be stuck with a $12 monthly fee.
High-Yield Money Market Account
The Money Market Account offered by Patriot Bank is one of its top offerings. You’ll earn 3.95% on your balance with no minimum or tiers.
This is one of the best money market rates available and is offered in partnership with Raisin.
Open a Patriot Bank High-Yield Money Market Account here >>
Certificates of Deposit (CDs)
A certificate of deposit (CD) can be a good way to help your money grow in a low risk way. With Patriot Bank, you can open CDs with a minimum deposit of $1. The available CD terms range from 3 months to 5 years. They also have a penalty-free CD, which is currently 17-months at 2.70% APY. This is a wonderful alternative to a savings account, since you can withdraw your money at any time without penalty. Open a 17-Month Penalty Free CD here >>Patriot Bank Review: High-Interest Savings Accounts
See how their rates compare to the Best 12 Month CD Rates here >>
Are There Any Fees?
Many of the accounts offered by Patriot Bank have a monthly maintenance fee. These monthly fees range from $5 to $25 per month. But you’ll be able to skip this fee if you meet relatively high balance requirements.
For example, with the Star Banking account, you can waive the $25 fee by keeping a minimum balance of $15,000 in your linked Patriot Bank accounts.
Although the rates offered by Patriot Bank are excellent, you can find more attractive APYs elsewhere.
If you are looking to maximize your APY, then Patriot Bank is likely not the best option. Take a look at our list of the top high-yield checking accounts to see which bank suits your needs best.
Or check out this quick comparison below: Patriot Bank Review: High-Interest Savings Accounts Patriot Bank Review: High-Interest Savings Accounts
How Do I Open An Account?
Want to work with Patriot Bank? Start with the ‘Apply Now’ button.
Select the account you wish to open. When ready, you’ll be asked to provide the following information:
- Social Security Number or Individual Taxpayer Identification Number
- A government-issued ID
- You will need to provide bank account information to cover the opening deposit.
The application should take just a few minutes online.
Is It Safe And Secure?
Patriot Bank is an FDIC member. With that, your funds will be insured for up to $250,000. That means that you can feel safe putting your money in this bank.