Indus American Bank is headquartered in Iselin and is the 76th largest bank in the state of New Jersey. It is also the 2,849th largest bank in the nation. It was established in 2005 and as of March of 2014, it had grown to 44 employees at 4 locations. Indus American Bank's money market rates are 93% higher than the national average, and it has a B health rating.
Not professional bank as we have other many banks in the Jersey city area. If you walk two blocks down. You will hit to Bank Of America, Bank Popular, Chase, wells fargo. If you see my subject, I noticed fraud bank means Indus American Banks do fraud. they issued me Cashier checks which was not good check. also I have faced many problems with Monthly charges which they told me free checking account and stated charging me every month which I did not notice untill I check my monthly bank statement. I have complain to thier main office in Edison, NJ, Did not get any answer yet. searched Branch Manager history, he got fired from BOA. Mr. Jitendra Rathod. Alos noticed they closed Mortgage department. If you really need your money to grow I would personally suggest Banks of America or wells fargo.
....4 five star reviews in 21 minutes. Something seems fishy to me.
I have been banking with Indus from 6 years and having a very good customer service all the time. infact it's our community bank, the people from our community always supports our community bank except some who dont want to be in our community or been cick our from the community. Its pleasure banking with OUR BANK.
Typically guju bank. like dhokla. compare your saving and CD'S rate with other banks. Did not feel like family.
Family means you feel secure your money, which I did not feel my money secure with this bank.
typically desi indian style bank. please do not wast your time to go there. keep talking in thier language. do not have proper knowledge about banking. i got charge to use their counter check. all empolyess are lazy and sleeping all the time. its unbelievable.
Its a great bank with great service... i have my entire banking retlationship with them
Not American Bank means they have all Indian people working on the floor. Many are new all the times. Not knowlegebel at all. I have account with bank since 2008. Every time I walk in the Bank. I have faced new employess. However they are keep fired professional Employess all times due to thier budget. Bottom line Banks need low wages person all time. to keep low budget its not my busniess. However make me this bank annoying because Professional people say say something and new person say something. Finally I ended up closing my account.
I have been banking with this bank from the start and was extremely suprised to read the previous reviews. I suspect its from fired old employees who typically bad mouth organisation or customers who are overdrawn or have (-) ve balances
When it comes to professionalism and service they exceed standards. Their CD and money market rates are good too. With regards to charges well if you are constantly overdrawn the bank does charge however if its a genuine mistake they are more than happy to reverse the charges....
For me this bank is the symbol of growing South Asian strength in the community...
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Indus American Bank had $4.81 million in non-current loans and owned real-estate with $21.11 million in equity and loan loss allowances on hand to cover it. This gives Indus American Bank a Texas Ratio of 22.79% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Indus American Bank experienced no significant changes from 24.78% as of March 31, 2013 to 22.79% as of March 31, 2014, resulting in a positive change of 8.06%.This indicates that the balance sheet and financial strength for Indus American Bank has had no significant changes in recent periods.
In the past year, Indus American Bank has increased its total deposits by $30.37 million, resulting in 20.46% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Indus American Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Indus American Bank has $218.95 million in assets with $21.11 million in equity, resulting in a capitalization level of 9.64%, which is above average.
|FDIC Certificate #||57983|
|Assets and Liabilities|
|Equity Capital||$17.74 million|
|Loan Loss Allowance||$3.37 million|
|Unbacked Noncurrent Loans||$4.36 million|
|Real Estate Owned||$446,000|
|Historic Data - March 2013|
|Equity Capital||$17.61 million|
|Loan Loss Allowance||$3.36 million|
|Unbacked Noncurrent Loans||$4.36 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||3.77%|
|Return on Assets||0.55%|
|Return on Equity||6.87%|
|Interest Income||$2.53 million|
Always verify rates and promotions with the bank or credit union. We are not Indus American Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.85%||$25k||-||Consumer Money Market|
|0.85%||-||-||Money Market IRA|
|0.50%||-||-||Premium Interest Checking|
|1.75%||$2k||-||60 Month CD|
|1.50%||$2k||-||48 Month CD|
|1.10%||$2k||-||36 Month CD|
|1.00%||$2k||-||24 Month CD|
|0.80%||$2k||-||18 Month Bump Up CD|
|0.65%||$2k||-||12 Month CD|
|0.65%||$2k||-||13 Month CD|
|0.50%||$2k||-||6 Month CD|
|0.25%||$2k||-||3 Month CD|
|0.15%||$2k||-||1 Month CD|
|1.75%||$2k||-||60 Month IRA|
|1.50%||$2k||-||48 Month IRA|
|1.10%||$2k||-||36 Month IRA|
|1.00%||$2k||-||24 Month IRA|
|0.65%||$2k||-||12 Month IRA|
|Indus American Bank Locations|
|Parsippany Supermarket Branch||1157 Route 46 East||Parsippany, NJ 7054|
|Indus American Bank||1536 Oak Tree Road||Iselin, NJ 8830|
|Hicksville Branch||70 Broadway||Hicksville, NY 11801|
|Jersey City Branch||781 Newark Avenue||Jersey City, NJ 7306|