Allegiance Bank is a standard bank that offers a full selection of account options to invest in. To find out if Allegiance Bank is right for you, continue reading the review below.
For being a small bank in Texas, Allegiance sure has a lot of checking accounts to offer. They even provide checking accounts for students and senior citizens to earn interest on.
On top of that, they offer flexible options for their CDs that earn competitive interest rates.
Checking Account Options
Allegiance Bank has a wide variety of checking accounts for pretty much almost everyone.
With a $50 minimum opening deposit, you can enjoy having your checks deposited directly into this Direct Deposit checking account.
Signing up for direct deposit means waiving the $5 monthly fee as well.
This checking account is for everyday banking and will require a $100 opening deposit.
There’s a $10 monthly fee but you can waive it by keeping a daily balance of $500.
This interest bearing checking account will require a minimum opening deposit of $200.
If you maintain a daily balance of $1,500 you can waive the $15 monthly fee.
The interest is compounded and credited monthly.
This is a checking account for those 55 and older.
You need a minimum opening deposit of $250, but there are no monthly fees to maintain afterwards.
This checking account is specifically designed for business owners. You can open it with just $50.
There are no monthly fees, but it is also not interest bearing.
This student checking account is actually targeted to both college and hi school students since 26 and under can qualify.
It is a completely free checking account aimed to help students manage their finances without the hassle of monthly fees or minimum balance requirements.
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Savings Account Options
Allegiance Bank has a low variety of savings accounts, but they are open to anyone.
This savings account requires a minimum deposit of $200, but it will start earning interest as soon as you open it.
There is a $6 monthly fee that can be waived as long as you manage to maintain a daily balance of $200.
This savings account is designed to teach younger people to save their money responsibly. They will need at least an opening deposit of $25 however.
There are also no quarterly maintenance fees.
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Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023
• Earn high interest rate of 3.60% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
• See advertiser website for full details
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
With the American Express® High Yield Savings Account:
• Earn 3.75% APY as of 3/16/23 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• 24/7 Account Access
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
Allegiance Bank has one market that earns competitive interest rates.
Personal High Yield Money Market:
- Open this account with $5,000
- There is a monthly fee of $15
- The interest rates earned are tiered based on your balance
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• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 3.55% APY balances $100,000 and over
• Earn 3.50% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
Allegiance Bank offers CDs with decent interest rates. These CD terms range from 3 months to 5 years and each of them requires $500 to open.
Allegiance has two kinds of CDs you can invest in. They both will renew upon maturity.
The standard CD at Allegiance Bank requires a $1,000 opening deposit to earn interest.
The terms are available from 30 days to 60 months.
For further information, Allegiance advises you to contact them.
The SuperSuite CD is pretty much a jumbo CD, except the opening deposit is a bit more because each has 4 CDs.
You will need a minimum deposit of $200,000 to open one of these CDs, but it earns competitive interest rates.
This CD is offered in either a 1 year or 2 year suite.
- 1 Year CD: 3 months – 1 years
- 2 Year CD: 6 months – 2 years
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• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 2.00% APY up to 4.75% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn up to 4.65% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
Reasons to Bank with Allegiance Bank
- They have a wide variety of checking accounts for all ages.
- All their accounts may come with similar benefits, but they are still pretty decent.
- They offer a relationship checking account.
- Pretty decent competitive interest rates throughout all their accounts that earns interest.
- Flexible options for their CD accounts.
- They offer a student/youth savings account for college students.
- Has a senior citizen checking account that earns interest.
- They have a good ratio of checking to savings accounts.
- You can get overdraft protection for your accounts.
- They have a 24-hour telephone service line.
- Conduct all your banking online or through the Allegiance Bank mobile app.
Reasons Not to Bank with Allegiance Bank
- Allegiance Bank is only available in Texas with 27 locations.
- They lack a senior savings account.
- The interest is compounded monthly instead of daily.
- They could use more variety in their savings accounts.
- Their Money Market account doesn’t have that much to offer.
- Their accounts are tiered. All of them have different opening deposits and they are more than the average brick and mortar banks.
Allegiance Bank Routing Number
The routing number for Allegiance Bank is 113025723.
Contact Customer Service
You can reach Allegiance Bank at 281-894-3200.
A customer representative will be available to speak to you at these hours:
- Monday–Friday: 9 a.m. to 5 p.m.
How Allegiance Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is also an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- PlainsCapital: PlainsCapital is another bank located in Texas and has a wide selection of both checking and savings account options. They even have a military checking account for veterans and other unique benefits.
- Pinnacle Bank: Also located in the South but mostly Texas, Pinnacle Bank has very similar account options but offer relationship accounts.
- Capital One 360: Capital One 360, you can bank fee-free with online and mobile checking that actually pays you back. Whether you’re looking for one of their 40,000 fee-free ATMs or a Capital One location–chances are they are right nearby.
Although there are a lot of small banks in Texas, if you happen to have higher balances or often end up with them, then Allegiance Bank can give you your money’s worth.
A lot of their accounts do encourage customers who keep higher balances to bank with them, but of course they are open to everyone.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re interested in banking with Allegiance Bank, then apply today! For more options from a variety of banks, see our list of the best bank promotions!
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