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Investors Bank Review 2023

Updated January 1, 2023
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At a glance

3.5
Rating: 3.5 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.6 stars out of 5

Checking

Rating: 4.2 stars out of 5

Savings

Rating: 2.4 stars out of 5

MMA

Rating: 2.2 stars out of 5

About Bankrate Score

Overview

Investors Bank is good for consumers who live within its branch footprint in New York, New Jersey and Pennsylvania, and want a bank with a range of deposit and loan products, and digital banking tools.

Highlights

  • Low Min Deposit
Compare offers
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.30
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.40
%
APY
Rating: 0 stars out of 5
$500
Min. balance for APY
View offer Arrow Right

Overall

Investors Bank has been around for more than 90 years and offers a variety of banking products online and at more than 150 branches.

Pros

  • Checkmark

    Deposit requirements for CDs and savings accounts are low.

  • Checkmark

    The bank provides online and mobile banking tools.

  • Checkmark

    It has a large branch network.

Cons

  • Physical branches are limited to New Jersey, New York and Pennsylvania.

  • Not all accounts can be opened online.

Investors Bank bank products

2.4
Rating: 2.4 stars out of 5
Bankrate Score

Investors Bank savings overview

Investors Bank offers several savings accounts, including a high-yield account that earns more with larger balances. However, more competitive rates can be found at other banks.

The principal savings account is YourStyle Savings, which can be opened with $50. The monthly $5 monthly fee ($4 with eStatements) is waived for students age 18 to 24, seniors 62 and older and U.S. military veterans and active-duty personnel. Otherwise, a $300 balance is required to avoid the monthly fee.

Pros

  • Checkmark

    You earn higher rates on higher balances.

  • Checkmark

    The interest kicks in with only a $50 balance.

  • Checkmark

    The minimum deposit to open YourStyle Savings is only $50.

Cons

  • You can find higher yields elsewhere.

  • You must have a YourStyle Plus Checking account to open the High-Yield Savings account.

  • You must have at least $5,000 in the High-Yield Savings account to earn the best rate.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.40
%
APY
Rating: 4.9 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right

Bank experience

Investors Bank is a brick-and-mortar bank that doesn’t skimp on its digital banking tools. With an online Investors Bank account, data can be linked from other bank accounts, enabling users to analyze all of their accounts from a single digital hub. Purchases can be made using a smartphone, tablet or smartwatch by connecting an Investors Bank debit card to Apple Pay, Google Pay or Samsung Pay. Its mobile app gets mixed reviews among iOS and Android device users.

A bank representative is available by phone 8 a.m. to 8 p.m., Monday through Friday, and 8 a.m. to 6 p.m., Saturday and Sunday. Existing customers with online banking have access to a secure live chat feature.

About Investors Bank

Investors Bank was founded in New Jersey in 1926 to make homeownership more affordable to the community.

Today, Investors Bank, which is based in Short Hills, New Jersey, operates 154 branches in New York, New Jersey and Pennsylvania. It has over $20 billion in assets. Investors Bank offers certificates of deposit, checking accounts, savings and money market accounts, and mortgages and personal loans.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.