b1BANK Review: Low Minimum Deposits and Flexible Savings Options
Written by
Cynthia Measom
Edited by
Nupur Gambhir
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
b1Bank offers the most benefit to customers living in parts of Louisiana or Texas and benefits increase for those who can afford to maintain higher minimum daily balances within their accounts.
b1BANK, based in Baton Rouge, Louisiana, operates 59 branches, with most located in Louisiana and some in Texas. The bank provides a range of financial services, including checking and savings accounts, certificates of deposit (CDs), and lending solutions for both individuals and businesses.
b1BANK is a full-service financial institution dedicated to helping individuals and businesses achieve their financial goals. Headquartered in Baton Rouge, Louisiana, b1BANK serves communities across Louisiana and Texas through its extensive network of branches.
With a focus on personalized service and modern banking solutions, b1BANK offers a wide range of products, including checking and savings accounts, loans, treasury management, and wealth services, all designed to meet the unique needs of its customers.
GOBankingRates has ranked b1BANK among the Best Banks in Louisiana for 2025.
b1BANK Checking Accounts
b1BANK offers two checking account options, one requiring higher-than-average daily balances. b1BANK’s checking accounts offer flexibility, low fees, online access, and perks like interest or ATM fee rebates, designed to simplify your banking.
- Low minimum deposits
- Earn interest on your balance with an Annual Percentage Yield
- Easy access to manage accounts, pay bills, and transfer funds through online banking
- Refunds on out-of-network ATM fees for certain account types
Best For
Banking in Louisiana
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Options for Each Type of Banker
b1BANK offers checking accounts designed for convenience and versatility. Options like MAX Checking provide tiered interest for higher balances, while FLEX Checking caters to everyday banking needs with low fees and nationwide ATM access.
Fees
Up to $15
APY
Up to
Min Opening
$25
Pros
- Interest-bearing Max Checking
- Multiple perks for Max Checking account holdersÂ
- Easily waivable monthly service charge for Flex CheckingÂ
Cons
- Steep minimum daily balance requirements for Max Checking
- $3 paper statement fee for Flex Checking
- Other banks may provide a more competitive APY for the same minimum daily balance requirement
Quick Take
b1BANK offers checking accounts that provide for basic and more sophisticated financial needs but no in-between options.
Show Pros, Cons and More
Hide Pros, Cons and More
b1BANK Savings Accounts
b1BANK savings accounts offer low minimum balance requirements and convenient online access, making it easy to grow and manage your savings. With features like automatic transfers and FDIC insurance, they provide a secure and flexible way to achieve your financial goals.
- Earn interest on your balance to grow your savings
- Easily manage your savings, track progress, and transfer funds online
- Options to waive fees with qualifying balances or activities
- Access to credit report with some account types
Best For
Banking in Louisiana
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Savings Options to Suit Every Type of Saver
b1BANK offers two different, yet uncomplicated, savings accounts with low opening deposits
Fees
Up to $25
APY
Up to
Min Opening
$25
Pros
- Low minimum deposit requirements
- Easy-to-waive monthly service fees or no fees
Cons
- High monthly service fee for Flex Savings
- Early closing fee of $20 for Flex Savings
- Paper statement fee of $3 for Flex Savings
Quick Take
b1BANK savings accounts have low opening deposit requirements, with Flex Savings offering fee waivers and Aim Savings focusing on goal-based growth without monthly fees. Both accounts, however, have withdrawal limitations to consider.
Show Pros, Cons and More
Hide Pros, Cons and More
b1BANK Money Market Account
b1BANK offers one money market account option, which has default or premium rates depending on the account holder’s banking relationship.
- Tiered interest rates based on total banking relationship; active checking account required for premium ratesÂ
- Low $100 minimum opening deposit
- Up to 8 free debits per month
- Waivable $15 monthly service charge with a minimum daily balance of $10,000, or a combined relationship balance of $25,000
Best For
Banking in Louisiana
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Variable APYs
b1BANK’s money market accounts combine competitive interest rates with flexible access, offering a secure way to grow your savings while maintaining liquidity.
Fees
Up to $15
APY
to
Min Opening
$100
Pros
- Tiered APYs depending on the balance
- Low opening deposit
Cons
- High minimum daily balance or relationship balance required to waive $15 monthly service charge
- To earn premium rates, an active checking account with at least one debit or credit in the previous statement cycle is required; otherwise, the account defaults to standard rates
Quick Take
While b1BANK offers just one money market account, it’s an excellent choice for those looking to earn a higher interest rate with continued access to their funds. To avoid the $15 monthly service fee, maintaining the required high minimum daily balance or combined relationship balance is essential, as failing to do so could offset potential earnings.
Show Pros, Cons and More
Hide Pros, Cons and More
b1BANK CD Accounts
b1BANK certificates of deposit offer a variety of terms to choose from with guaranteed returns.
- Available in terms from 90 days to 60 months, providing predictable returns over the long-term
- $1,000 minimum opening deposit
- Insured by the FDIC up to $250,000
Best For
Banking in Louisiana
Mobile App
Low Monthly Fees
Low Minimum Deposit
Loan Options
Guaranteed returns
b1BANK certificates of deposit offer a variety of terms to choose from with guaranteed returns.
Fees
N/A
APY
Variable
Min Opening
$1,000
Pros
- Insured by the FDIC up to $250,000
- Terms from 90 days to 60 months, offering flexibility and predictable returns
- Fixed interest rates with guaranteed returns
Cons
- Penalties for early withdrawal
- Must call the bank for specific rates
Quick Take
b1BANK CDs offer secure and predictable returns, making them a good alternative to more risky investments. However, online-only institutions may offer higher rates.
Show Pros, Cons and More
Hide Pros, Cons and More
Banking Experience
b1BANK offers its customers a well-rounded banking experience — from personalized customer service in its branches to a highly-rated mobile banking app and from interactive teller machines to live chat.Â
- Online Banking: Provides 24/7 access for managing accounts, paying bills, setting alerts and transferring funds.
- Mobile Banking: Offers features like mobile check deposit, funds transfers, and card management. The app has a 4.4 rating on the App Store but scores 3.8 on Google Play, with lower ratings attributed to issues such as a lack of user-friendliness and delays in transaction updates.
- ITMs: Interactive Teller Machines offer everything an ATM offers and more, including live teller support and the ability to complete banking tasks, such as making loan payments, ordering checks, cashing checks and changing banking passwords. The machines function as ITM’s between 7 a.m. to 6 p.m. on weekdays and revert to regular ATMs otherwise.
- Customer Support: Customers can reach support in-branch, by phone or via live chat. Live chat is available every weekday from 8:30 a.m. to 5 p.m.
How does b1BANK compare?
See how b1BANK compares to its competitors.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Up to $15
$5 a month for inactivity
$3 external funds transfer
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$25
$100
$10
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Up to $25
$5 a month for inactivity
$5 waivable monthly service fee
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$25
$100
$250
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
N/A
Early withdrawal penalties will apply
Early withdrawal penalties may apply
APY
APY
APY
Variable
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$500
$1,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Up to $15
Waivable $10 monthly service fee
$5 waivable monthly service fee
APY
APY
APY
to
Up to
Min Opening
Min Opening
Min Opening
$100
$2,500
$25,000
b1BANK vs. Capital One
Capital One is a national bank that caters to a broad range of services including extensive credit card offerings and personal, as well as business products. Capital One has the Performance 360 Checking Account that has no minimum deposit, no monthly or overdraft fees. If you prefer national accessibility and a user friendly checking account, Capital One is a better fit. b1Bank is a regional bank that caters to the Southern United States and although the bank offers a checking account, there is a minimum deposit of $25.
b1BANK vs. CIT Bank
CIT Bank is a fully digital bank that offers a high yield savings account with a minimum deposit of $100 and an APY of 4.35% on balances more than $5,000 or more. Although b1BANK requires a lower monthly deposit of $25 the highest APY is 0.20%. If you don’t mind online access only, CIT is a better option for a high yield savings account.
b1BANK vs. Western Alliance
Western Alliance specializes in commercial banking services and more complicated business accounts. Western Alliance does have two personal checking accounts and a high yield savings accounts. If you prefer a full range of traditional bank products and don’t need a bank to house business accounts, B1BANK will be a better choice for your banking needs.
Final Take
b1BANK offers a selection of CDs and non-interest and interest-earning checking and savings accounts, with tools like ITMs and a mobile app for managing banking tasks on the go. While minimum daily balance requirements for some accounts may be steep, monthly service charges are easily waivable for basic accounts. Additionally, premium rates are an option if you open a money market account.Â
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.Â
This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To determine rankings for the Best CD Accounts of 2025, GOBankingRates considered the following factors (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY rate; (5) 60-month CD APY rate, and (6) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, factor (3) was weighed 2 times, and factors (4) and (5) were weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
