Ponce Bank

Overview / Commentary
2244 Westchester Avenue
Bronx, NY 10462

Ponce Bank is headquartered in Bronx and is the 38th largest bank in the state of New York. It is also the 532nd largest bank in the nation. It was established in 1960 and as of June of 2022, it had grown to 253 employees at 14 locations. Ponce Bank's money market rates are 7X the national average, and it has a B+ health rating.

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1 Month High Yield CD, 4.50% APY Via Savebetter - 12/9/2022

www.savebetter.com Since Savebetter's Sallie Mae "No-Penalty" CDs locked up your money for a month anyway, might as well look at this short fixed term CD from Ponce Bank. As others have noted, Savebetter only links to one external account to move money in and out.

One Month CD Rate 4.00% - 12/6/2022

One Month CD Rate 4.00% Open On SaveBetter.com To Get This Rate

Update on SaveBetter - Top Rates from Ponce Bank and Sallie Mae Bank - 7/8/2022

On the SaveBetter platform, Ponce Bank is offering a top rate on its money market deposit account, and Sallie Mae Bank is offering top rates on its no-penalty CDs.

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Reviews (5)

I Like Savebetter Platform

Posted by: |

Good speed in getting money in and out with lots of choices.

No Bank Is Perfect

Posted by: |

Like most online banks, Ponce Bank outsources it's servicing agent; and in this case it's SaveBetter. For the most part this review is based on my seven months of experience with SaveBetter.

1. Account application is simple and straight forward.
2. Very simple & user-friendly account platform.
3. Low opening balance of only ONE Dollar.
4. Super-fast ACH transfers; currently NO $ limit.
5. No fees, even for closing account.
6. Accrued interest is paid if closing account, on the next month statement.
7. No new application required if opening an account with another bank in the SB platform.
8. Knowledgeable, friendly customer service agents at SaveBetter.
9. Interest is compounded daily, credited monthly.
10. On request, SaveBetter will email you a Beneficiary form...(requires last 4 digits of their Social)
11. Ponce Bank has a "A" health rating on DepositAccounts.com

1. SaveBetter only allows you to link ONE bank account. I linked my local brick-&-mortar bank checking account.

Excellent Experience

Posted by: |

I have opened account with them using the website SaveBetter.com and I experienced no problems no issues just nice customer service reps!

Excellent bank

I deposited $20,000 dollars split up between a savings account and a three month CD. Their rates are competitive with three month CDs at 0.25 percent interest. Their savings accounts have 0.10 percent interest. These rates are slightly better than the big name banks. Everyone in this bank is competent and caring. Their checking accounts are totally free with no strings attached in terms of fees. Again, this is better than what I have seen in other big name banks. My whole family does their banking with this bank because of the above. I wholeheartedly recommend this bank to anyone looking for a good local banking institution.

Money Market Really Lacking

Posted by: |

Ponce advertises money market rates that are competitive but they are not. I signed up a while ago and today when my other accounts are getting 2% this ponce bank is .41%. That is correct not a mistake. They are giving .41%.


Health Grade Components

FDIC Certificate #31189
Year Established1960
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.26%
Return on Equity - YTD-1.59%
Annual Interest Income$36.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.03B$1.53B
LoansQ2 2022vs Q2 2021$1.33B$1.34B
DepositsQ2 2022vs Q2 2021$1.19B$1.25B
Equity CapitalQ2 2022vs Q2 2021$461.0MM$151.7MM
Loan Loss AllowanceQ2 2022vs Q2 2021$17.5MM$15.9MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$18.6MM$9.2MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Always verify rates and promotions with the bank or credit union. We are not Ponce Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ponce Bank Savings Account Rates

0.10%--Ponce Savings

Ponce Bank Money Market Rates

3.25%--Money Market Deposit Account via SaveBetter
0.20%*$50k*-Money Market
OTHER TIERS: 0.10% Up to $1.5k | 0.15% $1.5k - $50k

Ponce Bank Checking Account Rates

0.10%*$50k*-Premium Interest Checking
OTHER TIERS: 0.05% Up to $1.5k | 0.08% $1.5k - $50k
0.05%--50+ Interest Checking
0.05%--Direct Interest Checking
0.05%--Business Interest Checking

Ponce Bank CD Rates

4.50%$1-1 Month High-Yield CD via SaveBetter
4.00%--6 Month High-Yield CD via SaveBetter
3.25%$1k-60 Month CD
3.25%$1k-Business 60 Month CD
2.85%$1k-36 Month CD
2.85%$1k-Business 36 Month CD
2.80%$1k-30 Month CD
2.80%$1k-Business 30 Month CD
2.75%$1k-24 Month CD
2.75%$1k-Business 24 Month CD
2.60%$1k-18 Month CD
2.60%$1k-Business 18 Month CD
2.50%$1k-12 Month CD
2.50%$1k-48 Month CD
2.50%$1k-Business 12 Month CD
2.50%$1k-Business 48 Month CD
1.75%$500-Business 6 Month CD
1.75%$500-6 Month CD
1.61%$1-48 Month High-Yield CD via SaveBetter
1.31%$1-13 Month High-Yield CD via SaveBetter
1.25%$500-3 Month CD
1.25%$500-Business 3 Month CD
1.21%$1-11 Month High-Yield CD via SaveBetter
1.00%$500-1 Month CD
1.00%$500-2 Month CD
1.00%$500-Business 1 Month CD
1.00%$500-Business 2 Month CD

Ponce Bank IRA Rates

3.35%$1k-60 Month IRA
2.95%$1k-36 Month IRA
2.85%$1k-24 Month IRA
2.60%$1k-48 Month IRA
2.60%$1k-18 Month IRA
2.50%$1k-12 Month IRA
1.75%$500-6 Month IRA
1.25%$500-3 Month IRA
1.00%$500-1 Month IRA
1.00%$500-2 Month IRA


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