Apple Bank Review
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
At a glance

Overview
Apple Bank is best for people in New York who are looking for a competitive savings yield and a free checking account at a brick-and-mortar bank.
Highlights:
High APY Free Checking Highly Rated AppHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Overall
New York-based Apple Bank is known for offering competitive yields on savings products. It has more than 75 locations in the New York area and New Jersey.
Pros
-
Apple Bank offers several certificate of deposit (CD) terms.
-
Apple Bank’s apps have high ratings on both Apple’s App Store and Google Play.
Cons
-
Apple Bank has branch locations only in the New York area and in New Jersey.
-
You need a balance of at least $2,500 to earn interest on the money market account.
Apple Bank banking products
Apple Bank Simple Savings
Pros
-
Savers will earn a competitive yield on all balances.
-
There is no monthly fee.
-
Account holders can make unlimited debit card transactions.
Cons
-
The account is limited to residents of specific states.
Apple Bank CD overview
Pros
-
Apple CDs offer a competitive yield.
-
Apple Bank offers terms that fit the needs of many savers.
-
Customers get FDIC coverage on multimillion-dollar CD deposits.
Cons
-
Customers need at least $1,000 to open an Apple Bank CD.
-
Some other banks offer slightly more competitive rates.
Apple Bank Money Market
Pros
-
Only $100 is needed to open the Apple Bank Money Market account.
-
The account comes with a debit card.
-
Customers can make unlimited withdrawals at a branch or ATM.
Cons
-
A minimum balance of $2,500 in the Apple Bank Money Market account is required to avoid the monthly maintenance fee.
-
There’s a $20 fee for excess withdrawals.
-
Interest is earned on daily balances of $2,500.
Apple Bank Simple Checking
Pros
-
The Simple Checking Account does not charge monthly maintenance fees.
-
With the Simple Checking account, there are unlimited, free ATM transactions.
-
The Simple Checking account earns interest.
Cons
-
The Simple Checking account does not offer overdraft protection during account opening.
-
For new customers, the checking account is only available to residents of New York and New Jersey.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | $35 |
Monthly maintenance fees | $0-$25 |
Out-of-network ATM fee | $2, depending on account |
Excessive transaction fee | $20 |
Bank experience
Highly rated app. Customers who want to bank virtually can use the Apple Bank app, which is available on Apple’s App Store and Google Play and has good ratings on each. The app comes with some helpful digital features including mobile bill payment, mobile check deposit and access to account statements.
Customer service. The bank’s customer service phone line is available from 8 a.m. to 8 p.m. ET on weekdays and 8 a.m. to 2 p.m. ET on weekends.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Thank you for sharing your experience with Bankrate