Rising Bank

Deposits held and insured by Midwest BankCentre

Overview / Commentary
888-222-9484
2191 Lemay Ferry Road
Lemay, MO 63125
Deposits held and insured by Midwest BankCentre

Rising Bank is an online subsidiary of Midwest BankCentre, a well-established community bank based in St. Louis with total assets worth $1.9 billion. Rising Bank was launched in 2018, and carries a bare-bones suite of savings products, including:


  • A high-yield savings account

  • Term CDs (1-, 2- and 3-year terms available)

  • A jumbo CD (2-year term available)

  • Rising CDs (18- and 36-month terms available)


Each product comes with fairly standard terms. You can make up to six withdrawals per month from the high-yield savings account, and CDs will automatically renew unless you withdraw the money during a 10-day grace period.

The bank’s Rising CDs, on the other hand, are a unique twist on a traditional bump-up CD. You can opt to boost your interest rate once per term (or twice per term, for 36-month Rising CDs) if the rates that the bank offers do indeed increase. You can also make an additional deposit at any time (or two deposits, for 36-month Rising CDs), but each deposit has to be at least $5,000 or more.

The rates offered on each of these accounts are very competitive, and land near the top of the class within each of the product categories on DepositAccounts. In addition, there are no monthly fees with any of its accounts, although you do need to keep a high minimum deposit amount (at least $1,000 for its term CDs and high-yield savings account, $25,000 for Rising CDs and $100,000 for jumbo CDs) in order to earn any interest.

Rising Bank’s website is clean and easy to navigate, which isn’t surprising given that it only offers a small suite of products. All of your account management can be done from its online site. The bank also offers a mobile app, although it’s unclear if you can use it to do certain commonplace things, such as deposit a check into your savings account or open a new account type.

Related Posts

Rising Bank Reduces Most CD Rates Further - 8/10/2019

Rising Bank has reduced CD rates again for terms 18 months and longer. The 12 month recently fell to 2.40% and holds at that level for now. 2.50%(Was 2.65%) 3 Year Term CD 2.45%(Was 2.60%) 2 Year Term CD 2.45%(Was 2.60%) 2 Year Jumbo CD 2.50%(Was 2.65%) 36 Month Rising CD 2.50%(Was 2.60%) 18 Month Rising CD

Rising Bank Rates Drop, 1 Yr CD To 2.40%, High Yield Savings To 2.20% - 8/1/2019

Probably more rates will change soon, but these two are visible already: 1 yr CD was 2.50%, now 2.40% APY High Yield Savings was 2.40%, now 2.20% APY

Rising Bank's CD Rates Fall Again - 7/18/2019

More reductions to Rising Bank's CD rates: 2.65%(Was 2.75%) 3 Year Term CD 2.60%(Was 2.70%) 2 Year Term CD 2.60%(Was 2.70%) 2 Year Jumbo CD 2.50%(Was 2.60%) 1 Year Term CD 2.65%(Was 2.70%) 36 Month Rising CD 2.60%(Was 2.70%) 18 Month Rising CD

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Quick And Painless Signup Process

Responsive, well designed web & mobile UI, was able to signup and get my account funded pretty quickly.

No Problems

Posted by: WTC1956 | Feb 11, 2019

Opened account without a hitch.

2 comments
1) the fact that this online bank only offers savings and cd products at this time means the number of fees or charges they plan to assess is very small.

2) APY (Annual Percentage Yield) factors the compounding frequency. So an APY of 2.45 is the same for any compounding period (daily, monthly, quarterly or annually) though the stated periodic interest rates would differ. 2.45 APY vs 0.01% offered by many traditional banks....well you decide

Interest Is Not Compounded

Posted by: martic | Mar 17, 2019

Read their disclosure statement, the fine print. They do not compound interest on their High Yield Savings account.

Impossible To Open Account. Not Ready For Prime Time Yet.

Posted by: enduser | Feb 4, 2019

Unable to open account:
It seems we are experiencing server errors.
Please try back later!
https://open.risingbank.com/?prod=hys

Rising Bank Fee Schedule:
The fee schedule is pretty blank and seriously lacking information. Below is the only information included on the fee schedule.

RISING BANK FEE SCHEDULE
Following are fees that may be assessed based on your account type. Please contact us at 1-888-222-9484 with questions.

Wire Transfer Service: Outgoing Domestic Wire Transfer $24.00 per item

Other Fees: Chargeback $12.00 per item

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Health
A

Data as of Q1 2019

Data displayed below is for insuring bank: Midwest BankCentre
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #1058
Year Established1906
Employees279
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.39%
Return on Equity - YTD3.94%
Annual Interest Income$17.9MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$1.99B$1.88B
LoansQ1 2019vs Q1 2018$1.43B$1.33B
DepositsQ1 2019vs Q1 2018$1.49B$1.40B
Equity CapitalQ1 2019vs Q1 2018$197.0MM$188.1MM
Loan Loss AllowanceQ1 2019vs Q1 2018$15.4MM$15.8MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$5.9MM$7.7MM
Real Estate OwnedQ1 2019vs Q1 2018$1.8MM$3.5MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Rising Bank Reduces Most CD Rates Further

pgroove_fan   |  
Rising Bank has reduced CD rates again for terms 18 months and longer. The 12 month recently fell to 2.40% and holds at that level for now.

2.50%(Was 2.65%) 3 Year Term CD
2.45%(Was 2.60%) 2 Year Term CD
2.45%(Was 2.60%) 2 Year Jumbo CD
2.50%(Was 2.65%) 36 Month Rising CD
2.50%(Was 2.60%) 18 Month Rising CD

Rising Bank Rates Drop, 1 Yr CD To 2.40%, High Yield Savings To 2.20%

pgroove_fan   |  
Probably more rates will change soon, but these two are visible already:

1 yr CD was 2.50%, now 2.40% APY
High Yield Savings was 2.40%, now 2.20% APY

Rising Bank's CD Rates Fall Again

pgroove_fan   |  
More reductions to Rising Bank's CD rates:

2.65%(Was 2.75%) 3 Year Term CD
2.60%(Was 2.70%) 2 Year Term CD
2.60%(Was 2.70%) 2 Year Jumbo CD
2.50%(Was 2.60%) 1 Year Term CD
2.65%(Was 2.70%) 36 Month Rising CD
2.60%(Was 2.70%) 18 Month Rising CD

Rising Bank Further Reduces Rates

pgroove_fan   |  
Rising Bank has again reduced deposit rates:

2.75%(Was 2.85%) 3 Year Term CD
2.70%(Was 2.80%) 2 Year Term CD
2.70%(Was 2.80%) 2 Year Jumbo CD
2.70%(Was 2.80%) 36 Month Rising CD
2.70%(Was 2.75%) 18 Month Rising CD

Rising Bank CD Rates Falling

pgroove_fan   |  
Rising Bank has again lowered their CD rates:


2.85%(Was 2.90%) 3 Year Term CD
2.80%(Was 2.85%) 2 Year Term CD
2.80%(Was 2.85%) 2 Year Jumbo CD
2.80%(Was 2.87%) 36 Month Rising CD
2.75%(Was 2.80%) 18 Month Rising CD
2.70%(Was 2.80%) 1 Year Term CD


High Yield savings fell from 2.45% to 2.40% a couple of weeks ago as well.

Rates
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Always verify rates and promotions with the bank or credit union. We are not Rising Bank; we are a rate comparison website and cannot provide official rates or promotions.

Rising Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.20%$1k$500kHigh Yield Savings Account

Rising Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$1k$500k3 Year Term CD
2.50%$25k$500k18 Month Rising CD
2.50%$25k$500k36 Month Rising CD
2.45%$1k$500k2 Year Term CD
2.45%$100k$500k2 Year Jumbo CD
2.40%$1k$500k1 Year Term CD
Locations

Rising Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 2191 Lemay Ferry Road - Lemay, MO 63125

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.