Centreville Bank Review: Attractive APYs and Premium Checking
Written by
Sarah Sharkey
Edited by
Nupur Gambhir
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Earn competitive returns with a Personal Plus Savings Account, available for balances of $100,000 or more.
Centreville Bank is a Rhode Island-based institution offering interest-bearing deposit products. For many products, including CDs, savers will find attractive APYs. But if you are seeking the absolute top APYs available, you’ll need to look for a different financial institution. GOBankingRates has ranked Centreville Bank as one of the Best Banks in Rhode Island.
Centreville Checking Accounts
Centreville Bank offers four checking account options: EmPower, Personal Checking, Personal Plus Checking and Personal Premium Checking. Here’s a look at some key details:
- Personal Checking is the only fee-free option
- Personal Plus and EmPower accounts waive fees with activity requirements
- Personal Premium Checking offers rewards and mortgage discounts
- Only Personal Premium Checking earns interest
Best For
Banking in Rhode Island
Low Monthly Fees
Mobile App
Credit Cards
Investment Services
Earn Rewards and Exclusive Benefits
The Personal Premium Checking account offers rewards, mortgage discounts and added perks for those seeking extra value in their banking.
Fees
Up to $10
APY
Min Opening
Up to $10
Pros
- Personal Premium Checking grants access to perks
Cons
- Physical locations are limited to Connecticut and Rhode Island
Quick Take
Centreville Bank’s Personal Premium Checking account provides the most value, especially if you qualify to waive the $10 monthly fee. For prospective homeowners in this financial institution’s geographic range of Rhode Island and Connecticut, the mortgage cost-saving perks could make this account an ideal choice.
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Centreville Bank Savings Accounts
Centreville Bank offers a Personal Savings and Personal Plus Savings account. For those with high balances, the Personal Plus Savings account offers attractive APYs.
- Personal Plus Savings requires a $1,000 minimum deposit
- Higher balances earn more competitive rates
- Both savings accounts have a $5 monthly fee that’s waivable
- The Holiday Club helps save for year-end expenses
- Personal Savings offers a basic interest rate
Best For
Banking in Rhode Island
Low Monthly Fees
Mobile App
Credit Cards
Investment Services
Flexible Options for Growing Your Money
The Centreville Savings accounts provide flexible options, competitive rates and waivable fees, making them ideal for savers looking to grow their money while maintaining easy access to funds.
Fees
$5
APY
Up to
Min Opening
Up to $1,000
Pros
- Competitive rates for higher balances
- Start earning interest with a low minimum balance
Cons
- No youth savings account options
Quick Take
Centreville Bank’s Personal Plus Savings account provides competitive rates for balances of $100,000 or more, with slightly lower rates for smaller balances. While the account offers attractive returns, higher rates may be available with other banks.
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Centreville Bank CD Accounts
Centreville Bank CDs come in terms ranging from three months to five years.
- You must deposit at least $1,000 to open a Centreville Bank CD.
- A seven-month CD special offers a competitive rate, making it a strong savings opportunity.
- Early withdrawal penalties apply. However, the financial institution doesn’t advertise what these penalties amount to.
Best For
Banking in Rhode Island
Low Monthly Fees
Mobile App
Credit Cards
Investment Services
Reliable Savings with Flexible Terms
The Centreville CDs offer secure savings with flexible terms and competitive rates, making them a reliable choice for those looking to lock in their money for steady growth.
Fees
No monthly maintenance fees
APY
Up to
Min Opening
$1,000
Pros
- Interest compounds daily
Cons
- Minimum deposit of $10,000
- APY not disclosed
Quick Take
The steep minimum deposit requirement of $10,000 takes this account out of the running for many savers.
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Banking Experience
Centreville Bank offers a collection of physical branches in Rhode Island and Connecticut. At a branch, you can expect a personal touch. But if you want to skip a bank visit, you can opt to manage your funds through the mobile app or through your desktop.Â
The highly-rated mobile app has earned 4.5 out of 5 stars in the Google Play Store and 4.8 out of 5 stars in the Apple App Store. Positive reviews bode well for a seamless mobile experience.
How Does Centreville Bank Compare?
If Centreville Bank isn’t the right choice for your needs, explore these alternative banking options.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Up to $10
$0
No monthly service fee
APY
APY
APY
Min Opening
Min Opening
Min Opening
Up to $10
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5
$0
$0
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
Up to $1,000
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly maintenance fees
No monthly service fee
No monthly service fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$0
$0
Centreville Bank vs. EverBank
Savers seeking a robust high-yield savings account will likely enjoy EverBank’s option.Â
EverBank’s Performance Savings account offers high APY on all balances. When compared to the rest of the market, it’s one of the most lucrative ways to grow your savings. Plus, interest compounds daily and monthly maintenance fees aren’t involved.Â
Centreville Bank vs. Marcus by Goldman Sachs
Savers seeking out a lucrative CD option will be hard-pressed to find higher rates than Marcus by Goldman Sachs offers. You can tap into high-end APYs to lock your savings away for growth. Plus, the online CD option is very clear about the early withdrawal fees you might have to contend with if you pull out your funds early.Â
Final Take
Residents of Rhode Island and Eastern Connecticut who want to tap into relatively high rates for their savings without giving up access to a physical branch might find a lot of value through Centreville Bank. But if you are strictly seeking the highest rates, an online-only option will likely give you better returns.
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.
