Advertiser disclosure
Sterling National Bank Review 2021
Member FDIC
Savings account
Member FDIC
Savings account
Member FDIC
CD
Member FDIC
CD
Member FDIC
Checking account
Overall
3.4
Bankrate Score
Sterling National Bank is a regional bank in Montebello, New York.
What we like
-
Sterling National Bank belongs to the MoneyPass ATM network, which gives customers access to 32,000 fee-free ATMs across the county.
-
The bank operates financial centers.
-
The minimum deposit required to open accounts is on the lower end.
What we don't
-
The bank’s website does not provide many details about bank products.
-
The yields on its deposit products are low.
CD rates
2.8
Bankrate Score
Member FDIC
CD
Sterling National Bank offers CDs with terms ranging from 30 days to five years. The bank also offers jumbo CDs that require at least $100,000.
The APY on its CD is low. However, you only need to deposit $500 to open a traditional CD.
What we like
-
Sterling National Bank offers a variety of CD terms.
-
The minimum deposit required to open a CD is low.
What we don't
-
You can find higher rates elsewhere.
Savings accounts
2.4
Bankrate Score
Member FDIC
Savings account
While the APY offered on the savings account is low, you only need $25 to open it. You will, however, want to keep at least $500 in the account in order to avoid a $5 monthly service fee.
What we like
-
You only need $25 to open a savings account.
What we don't
-
The yield is low.
-
You need to keep $500 in your account to avoid paying a monthly service fee.
Checking accounts
4.7
Bankrate Score
Member FDIC
Checking account
Sterling National Bank has four checking accounts: the Choice Checking account, Premium Checking account and Simple Checking account.
The Simple Checking account doesn’t charge a monthly fee if you enroll in electronic statements. You’ll need $25 to open the Simple Checking account.
You will pay $2.50 to use out-of-network ATMs, and the bank charges $35 for overdraft fees.
What we like
-
The Simple Checking account is free if you enroll in electronic statements.
-
You only need $25 to open the account.
What we don't
-
The bank charges $2.50 if you use out-of-network ATMs.
-
The bank charges $35 for overdraft fees. Some other banks charge less.
Money market accounts
2.2
Bankrate Score
The Sterling National Bank Money Market Account offers multiple rate tiers; however, the yield isn’t high. You will also need to keep at least $2,500 in the account to avoid paying a monthly fee.
What we like
-
You can earn more when you deposit more.
What we don't
-
The yield is low.
-
You will have to keep at least $2,500 in the account to avoid paying a monthly fee.
Bank experience
Sterling National Bank operates several dozen financial centers. It is a part of the MoneyPass network, which gives its customers access to more than 32,000 fee-free ATMs.
About Sterling National Bank
Sterling National Bank has a history dating back to 1888. The bank offers: savings accounts, checking accounts, money market accounts and certificates of deposit.
The bank's headquarters is located in Montebello, New York, and it operates a few dozen financial centers.
Mary Wisniewski @MARYMWISNIEWSKI
Mary Wisniewski is a banking editor for Bankrate and occasionally writes on a variety of fintech and banking subjects. Previously, she covered fintech for American Banker and edited op-eds for the publication's BankThink section. She was also a blogger and editor at Bank Innovation and served as a fashion editor for National Jeweler, where she reported on fashion shows and jewelry news. Mary grew up in the Michigan suburbs and now lives in Los Angeles with a maltipoo, a record player and an espresso machine.
Other offers you may like