Average User Rating:1 star rating based on 2 reviews.
Independent Bank TX
Independent Bank TX Locations|
3090 Craig Drive McKinney, TX 75070 972.562.3426 www.independent-bank.com  |
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Independent Bank TX is headquartered in Mckinney and is the 28th largest bank in the state of Texas. It is also the 401st largest bank in the nation. It was established in 1913 and as of December of 2012, it had grown to 316 employees at 32 locations. Independent Bank TX's savings rates are 92% higher than the national average, and it boasts a 5-star health rating.
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Independent Bank has changed cap/transactions from 25K/8 to 15K/12. I was not explicitly informed. I was informed today, after seeing the non-qualifying rate being applied that this was announced via a few sentences at the end ot the November statement:
The latest qualification cycle ended 9/20. The monthly "Reward Checking results" Email received this morning included the following: "Please be advised that the interest rate associated with the Rewards Checking Account will be changed to 2.3
In a discussion with a bank CSR in December, a friend was told to expect lower rates in mid January. While there has been no official notification to customers as of today, I noted the following when exploring the website this morning: R
Effective sometime in January (likely after the January qualification period close), the following changes will take place: 1. The RCA rate will drop from 3.01%APY to 4.01%APY. 2. The RealSaver account rate will drop from 2.5%APY to 2%A
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See Rates for: Checking | Savings | Money Market | CD | IRA
Independent Bank TX Checking Account Rates
Independent Bank TX Savings Account Rates
Independent Bank TX Money Market Rates
Independent Bank TX CD Rates
Independent Bank TX IRA Rates
Data for Q4 2012
Institution Statistics
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Institution Health
Overall Score:
5 out of 5 
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Beware - This Bank Will Gouge You!
- disgusted - Thursday, October 6, 2011 - 1:30 PMMy "free" checking account at Independent Bank (Little Elm, TX branch) suddenly developed monthly service charges totalling $11.00. The charges showed up on my September bank statement. When I inquired about the charges, I was told: "We mailed out a letter in June to all free checking account holders to inform them that service charges were being initiated". Further inquiry resulted in the revelation that Independent Bank offers yet another "free checking account", but I must come in and apply for the new account in person. Even if such a change were being initiated, why couldn't the bank have politely informed account holders in June that ANOTHER type of free account is available???? The simple answer is that this bank has taken this opportunity to extract funds from its account holders who either ignored their letter or, worse yet, never received it . I have no recollection and no record in my files of having received the letter supposedly mailed in June. I have closed my account at Independent Bank and will never do business with them again. Perhaps others can profit from my experience. (I have awarded one star to this bank due to the fact that it is not possible to award zero stars.)
3-year Term IRA CD
1.21% APY
Capital One 360
360 Checking Account
0.85% APY
SNEAKY PEOPLE!
BEWARE! They changed the qualification criteria in Dec but didn't update the website until after the statement closed in January! When I called to complain they referred to a fine print at the very bottom of the Nov statement! Taking my money elsewhere.