Featured Savings Rates
Featured Accounts

Radius Bank

Popular Accounts at this Bank

1.20%SavingsRadius High-Yield Savings
0.90%CheckingRadius Hybrid
1.00%5-year CD5 Year CD

Overview / Commentary
1 Harbor St, Ste 102
Boston, MA 02210

Radius Bank, a leader in community banking, was founded in 1987 by the Massachusetts Carpenters Combined Pension and Annuity Funds (The Funds). In 2006, the Empire State Carpenters’ Pension Fund invested in the Bank as an equity partner. They are a growing institution that currently serves as the trusted advisor to a broad range of clients.

Related Posts

Radius Bank Raises High Yield Savings Rate - 7/17/2017

Radius Bank has raised the rate on its High Yield Savings account, with balances of $2.5k+ earning 1.15% APY; balances less than $2.5k earn 0.05 % APY.

Radius Bank Hybrid Checking Account Offering 0.90% APY - 2/28/2017

Whoa, a high interest bearing checking account??? This checking account appears to be available nationwide but located in Boston, MA. This Radius Bank Hybrid Checking Account offers 0.90% APY on portions of your funds $2,500 and up. Only requires a $10 opening deposit! https://go.radiusbank.com/gobanking-rate-hybrid/

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Opening My Radius Account Was EASY PEASY!

As opposed to poor Richard, my experience setting up my on-line account with Radius was delightful and easy! I provided the personal information that Radius required and the banking information for the transfer of funds to my new HIGH YIELD account. I think it took about 10 minutes to enter all the information and I was approved approximately 90 minutes later. The funds were transferred from my 'old' bank to Radius within 48 hours. The transfer would have been practically instantaneous if I had used my debit card, but my 'old' bank would not allow me transfer an excessive amount $$ via my debit card. Re: your comment concerning compounding interest daily vs. monthly... ONLY if you are funding an account in EXCESS of 6 figures, the DIFFERENCE in interest amount earned over the course of 365 days or 12 months would not buy you a cheeseburger. I am thrilled with the interest I will be earning on my deposit(s) with Radius since my 'old' big bank was paying me 3 tenths of 1% or on average 19 cents per month. And yes, I maintain in excess of $2500...

Great online experience

I have been a customer of Radius bank for a couple of years now. Honestly, my point of using bank was only because I liked the savings account yield as compared to other banks, both brick and mortar and online. It has some of the highest savings account rates available today. As a virtual bank, my experience with customer service has been minimal. Once I signed up I got a notice of approval and an ATM card in the mail. Since then my interaction have been, well, entirely virtual. I have had no problems with any of my virtual interactions with the bank, if that counts as customer service. Only one negative I ever noticed and that was they limit how much you can put in at once as a new customer. So, if your purpose is to quickly move money to get a higher yield right away, you will have to wait sometime before significant money can be moved.

Radius Bank

I've been a customer of radius online bank for a couple of years now. The best thing about it is the high interest compared to brick and mortar banks. The interest rate is a little higher then other online banks. I believe it is near the top of interest earned of banks. I do not have a lot of experience with the customer service as I have never had any problem that would warrant contact. I guess saying that is a good thing. All my bank transfers have been done in the normally expected time. The one thing I did not like is there seems to be a wait period before you can transfer much money. I understand this is for security reasons but if you want to transfer from a lower interest savings it can take quite a while. Also, the withdrawals are limited which can be a problem if you need to make a big purchase as it is slower to get your money out.


The interest rate that's offered initially looks great. But once you get through the cumbersome registration process, aspects become not so great.

First, interest is compounded monthly, not daily as other competitive online banks do. The registration process isn't instantaneous.The bank makes you wait a few days as it processes your external initial deposit before you can get your account. It then never remembers the external bank you used to fund your account and you have to setup and reverify that external bank a second time all over again.

Once registered online, you find out the maximum daily external transfer amount in or out for the first 90 days is only $5,000. After that period of time it's not much more. When calling them to complain about this limit, they tell you it's for security purposes and to use wire transfer (at additional fee) if you want to fund your account with more money, or use your external bank's transfer process assuming they can transfer in higher amounts.

Totally ridiculous, as this severely limits easy access to your money, both in transferring in and out. No thanks. I'm closing this account as fast as possible.

p.s. If you want to close your account, you can't do it online or immediately over the phone. You have to request closure over the phone where they'll instruct you to write a letter making this request with your signature. Then they might close the account and cut a check by mail for the remaining balance. If that doesn't take the cake, I don't know what does.



Health Grade Components

FDIC Certificate #32551
Year Established1987
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD3.19%
Annual Interest Income$19.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.02B$835.0MM
LoansQ2 2017vs Q2 2016$850.2MM$668.3MM
DepositsQ2 2017vs Q2 2016$855.4MM$690.7MM
Equity CapitalQ2 2017vs Q2 2016$92.6MM$71.8MM
Loan Loss AllowanceQ2 2017vs Q2 2016$4.8MM$200.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$17.8MM$7.1MM
Real Estate OwnedQ2 2017vs Q2 2016$223.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Radius Bank Savings Account Rates

1.20%*$2,500*-Radius High-Yield Savings
OTHER TIERS: 0.05% $10 - $2,500
0.05%$50-Union Advantage Savings
0.05%$50-Statement Savings
0.05%$50-Passbook Savings
0.05%$50-Holiday Club

Radius Bank Money Market Rates

0.10%*$10k*-Retail Money Market
OTHER TIERS: 0.05% $10 - $10k

Radius Bank Checking Account Rates

0.90%*$2,500*-Radius Hybrid
OTHER TIERS: 0.00% Up to $2,500
0.01%$1k-Radius Checking

Radius Bank CD Rates

1.60%$500-3 Year CD
1.00%$500-5 Year CD
0.75%$500-4 Year CD
0.50%$500-2 1/2 Year CD
0.40%$500-2 Year CD
0.35%$500-18 Month CD
0.25%$500-1 Year CD
0.25%$500-13 Month CD
0.20%$1k-6 Month CD
0.20%$1k-9 Month CD
0.15%$1k-3 Month CD
0.15%$1k-5 Month CD

Radius Bank IRA Rates

1.60%$500-3 Year IRA
1.00%$500-5 Year IRA
0.75%$500-4 Year IRA
0.50%$500-2 1/2 Year IRA
0.40%$500-2 Year IRA
0.35%$500-18 Month IRA
0.25%$500-1 Year IRA
0.20%$1k-6 Month IRA

Radius Bank Locations
First Trade Union Bank1 Harbor St, Ste 102Boston, MA 02210
Lakeville Rd Branch2020 Lakeville RdNew Hyde Park, NY 11040