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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 • Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account • No minimum balance requirements • Free ATM card upon request • $250 minimum opening deposit • Free Incoming Wires |
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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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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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.
Bottom Line
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!