Prosperity Bank Review: Bigger Checking and CD Options in Texas
Written by
Caitlyn Moorhead
Edited by
Melanie Grafil
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Prosperity Bank is best for those living in Texas who want to keep their money safe in a local bank, while still having free checking options and decent rates on savings products compared to other brick-and-mortar financial institutions.
Prosperity Bank aims to meet and simplify the banking needs of all its customers throughout Texas and Oklahoma. It operates from a community banking philosophy to better serve its neighbors and local businesses. It offers a wide variety of products and services, with strong options in both checking and CD accounts.Â
GOBankingRates gave Prosperity Bank the Gold for Texas in the list of Best Banks by State 2025.
Prosperity Bank Checking Account
Prosperity Bank offers you a robust selection of checking accounts. To better understand your options, and which would best suit your daily banking needs, here are a few key takeaways:Â
- Simply Free Checking: Free online and mobile banking with no monthly maintenance fees.
- eChecking: Gives you paperless checking and free online banking options, with no minimum balance requirement.
- Personal Checking: Free Bill Pay, $100 required opening deposit and a $500 minimum balance requirement.Â
- Royal Checking: Free overdraft transfers, notary services and personal and cashier checks.
- Checking with Interest: $1,500 opening deposit and minimum balance requirement for this interest-bearing account.Â
- Interest Checking Plus: This is an interest-generating checking account but must maintain a daily balance of $10,000
- Teen Checking: Tailored specially for customers ages 13 to 17 and the account must be co-owned by a parent or guardian which requires a $25 opening deposit but has no minimum balance requirement.Â
If you are looking to start with a basic checking option then the Simply Free Checking account is a solid choice. Here are some benefits and drawbacks to consider.Â
Best For
Mobile App
Low Monthly Fees
Banking in Texas
Loan Options
Low Minimum Deposit
Robust Checking Account Selection
Prosperity Bank offers a variety of checking accounts tailored to different banking needs, from free basic accounts with no maintenance fees, and even interest-earning options.
Fees
$0 to $5.95
APY
Up to
Min Opening
$25 to $10,000
Pros
- No minimum balance requirement
- No monthly maintenance fee
- Free mobile and online banking
Cons
- Not interest-bearing like other Prosperity checking accounts
- $5.95 fee for Bill Pay
- $35 overdraft fee
Quick Take
Prosperity offers you a chance to pick a checking account that is completely curated to your needs.
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Prosperity Bank Savings Account
Though there’s only the Personal Savings account at Prosperity Bank, it’s still a good savings option. Consider the following factors:
- If you already use a Prosperity checking account, you can link your Prosperity Debit MasterCard to become eligible for the Round Up Savings Program.Â
- This is where every purchase you make with your debit card is rounded up to the nearest whole dollar and then the difference is transferred from your checking to your savings account. Prosperity will match 2% of the transfers up to $50 a month.Â
- Avoid the $3 monthly maintenance fee by maintaining a minimum balance of $200
- You get free Online Banking and Mobile Banking
- No fees for withdrawals at Prosperity ATMs
If you’re still on the financial fence deciding if the Personal Savings account is right for you, here are some pros and cons for your consideration:
Best For
Mobile App
Low Monthly Fees
Banking in Texas
Loan Options
Low Minimum Deposit
Simple Savings With Rewards
Prosperity Bank’s Personal Savings account is a straightforward option offering free ATM withdrawals and a unique Round Up Savings Program that matches 2% of transfers. There is a fee, though, for withdrawals beyond three per month.
Fees
$3, waived with $200 minimum balance
APY
Up to
Min Opening
$20
Pros
- Earn more with the Round Up Savings Program option
- Only a $200 minimum balance required to avoid the monthly fee
Cons
- Only three free withdrawals are allowed per month; $2 for each additional withdrawal
- No high-yield savings option
Quick Take
Though the Personal Savings account may seem basic, it provides simple ways to manage and grow your savings in the right direction.
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Prosperity Bank CD Accounts
Prosperity Bank offers decent interest rates on its certificates of deposit, or CDs, compared to other banks with physical branches. Here are some key takeaways:Â
- To earn the highest APY you need to deposit at least $100,000, which may be out of reach for many customers.
- CDs offer higher interest rates than traditional savings accounts.
- Prosperity CDs are FDIC-insured, so your money is protected up to $250,000.
- Fixed rates and terms mean you know precisely how much interest you’ll be earning.
- CDs can to help diversify your portfolio.
- You can have access to a local expert to help you find the right CD with term lengths that range from 30 days to five years.
CDs may come with a variety of options, but so do the corresponding benefits and drawbacks. Here are some pros and cons of the CD products offered by Prosperity Bank.
Best For
Mobile App
Low Monthly Fees
Banking in Texas
Loan Options
Low Minimum Deposit
A Variety of Terms Up to 5 Years
Prosperity Bank CDs offer competitive rates, FDIC protection, and fixed terms ranging from 30 days to five years, though the highest APYs require substantial deposits and early withdrawal penalties are higher than some competitors.
Fees
No monthly service fee
APY
Contact your local branch for details
Min Opening
$1,000
Pros
- Competitive CD rates compared to other brick-and-mortar banks in the area
- Fixed rates allow you to know precisely how much interest you’ll be earning.
- You can use CDs to help diversify your portfolio.
Cons
- Highest APYs only come with large account balances
- Higher early withdrawal penalties compared to other leading competitors
Quick Take
Prosperity CDs allow you to take one step further on your savings journey to better reach your savings goals.
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Prosperity Bank Money Market Accounts
Prosperity has two savings options for money market accounts. Here is what you need to know:Â Â
- There are the Personal Money Market and Personal Premier Money Market accounts.Â
- You can avoid a $10 monthly maintenance fee by maintaining the minimum balance of $2,500 in the Personal Money Market account.Â
- The Personal Money Market account also gives you unlimited withdrawals at Prosperity ATMs
- To avoid a $20 monthly maintenance fee with the Personal Premier Money Market account by maintaining a minimum balance of $10,000
The Personal Money Market account comes with a few features that may interest you, but also some you can do without, here are some pros and cons:
Best For
Mobile App
Low Monthly Fees
Banking in Texas
Loan Options
Low Minimum Deposit
Flexible Savings and Perks
Prosperity Bank’s Money Market accounts offer competitive features like free ATM withdrawals and waived fees with minimum balances, but they require higher opening deposits and charge for excessive withdrawals.
Fees
$10 to $20, waivable
APY
Up to
Min Opening
$2,500 to $10,000
Pros
- Waivable $10 monthly service fee if you maintain the minimum daily balance requirement of $2,500
- Six free withdrawals per month
- Debit card option
Cons
- Relatively high minimum opening deposit and daily balance requirements, considering the lower APY
- $15 charge for every withdrawal that exceeds the included six monthly allowances
Quick Take
You can expect more form your savings when you put them into a Prosperity Bank money market account.
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Banking Experience
Prosperity Bank has over 287 full-service branches and a large ATM network throughout Texas and Oklahoma. It also provides customer service via the phone or live chat on the website or app to make sure all your FDIC-insured bank account questions are covered. The above-and-beyond customer service is also reflected in the user-friendly and highly-rated mobile app which has a 4.8-star rating in the App Store and a 4.4-star rating in Google Play.Â
How Does Prosperity Bank Compare?
GOBankingRates compared Prosperity Bank to three other banks, including two that were also listed on the Best Banks in Texas lists for 2025, to see how it stacked up.Â
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $5.95
$8 to $30 monthly
$5 to $35 waivable monthly fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$25 to $10,000
$25
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$3, waived with $200 minimum balance
$3.50 waivable monthly fee
Up to $12 monthly service fee – can be waived
APY
APY
APY
Up to
Up to
Up to for Platinum Savings accounts
Min Opening
Min Opening
Min Opening
$20
$50
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
Early withdrawal penalties will apply
Early withdrawal penalty may apply
APY
APY
APY
Contact your local branch for details
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$1,000
$2,500 to $5,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$10 to $20, waivable
Waivable $15 monthly fee
No monthly service fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$2,500 to $10,000
$50
$0
Prosperity Bank vs. Frost Bank
Frost Bank is also a regional bank that only has physical locations in Texas, but it still offers customers top-notch technology and service levels that rival those banks throughout the Lone Star State. Like Prosperity Bank, it offers a personal touch that’s hard to find with nationwide institutions. GOBankingRates gave it the Silver in the list of Best Banks in Texas for 2025.
Prosperity Bank vs. Wells Fargo
Wells Fargo is a good choice over Prosperity Bank for those who want a bank with plenty of brick-and-mortar locations and ATMs outside Texas and throughout the country. It has over 4,500 branches and is one of the most accessible banks in the U.S. so even though GOBankingRates gave it the Bronze to Prosperity’s Gold ranking, it still might be a better option for you if you travel a lot.Â
Prosperity Bank vs. Bank of America
One of the bigger names in the banking game, Bank of America, Member FDIC, offers everything from checking and savings accounts to a full roster of investment and loan options, including credit cards. Though Prosperity Bank can offer you more personalized service, Bank of America is better for those looking for one financial institution to accommodate most or all of their banking and investing needs on a broader scale.
Final Take
The bottom line is that Prosperity Bank could work for you if you live in Texas or Oklahoma and are in search of free checking options or easily waivable fees on most savings products. Keep in mind that it doesn’t have a high-yield savings option, though does offer a community-driven banking philosophy for those who live in the region. GOBankingRates gave it the Gold for Texas on the list of Best Banks in Texas for 2025, so it may be worth considering for your next bank account.Â
Prosperity Bank FAQ
- Who is the parent company of Prosperity Bank?
- The parent company of Prosperity Bank is Prosperity Bancshares, Inc.
- Is Prosperity Bank FDIC insured?
- Yes, Prosperity Bank accounts are FDIC-insured which means your accounts are covered up to $250,000.
- What is the daily limit for Prosperity Bank?
- For Prosperity Bank the daily limit at points of sale is $2,500 per day for consumer accounts with ATM cards, or $600 per day for consumer accounts with debit cards
- What services does Prosperity Bank offer?
- Prosperity Bank offers several banking products and services such as checking, savings, CD and money market accounts as well as loan and credit card opportunities.
- What fees does Prosperity Bank charge?
- Prosperity Bank does charge monthly maintenance fees for many of its checking and savings products, generally ranging between $3 and $10, but they can also be waived if you maintain the daily minimum balance requirement for the account.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2024.Â
Editorial Note: 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 discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) 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), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 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. 19, 2024. To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
