Investors Bank Review: Competitive Rates and Lots of Accounts To Choose From

GOBankingRates Score

4.5
Quick Take: As a community financial institution, Investors Bank maintains a narrow focus on the New Jersey, Pennsylvania and New York customers it serves. The bank offers a solid range of checking and savings accounts, competitive rates and the convenience of banking in person or online. This Investors Bank review guides you through the institution's offerings.
  • Convenience
    4.5
  • Breadth of Products
    4.8
  • Rates
    4.3
  • Customer Service
    4.5
How did we calculate this?

Pros

  • Large selection of deposit accounts
  • Competitive rates on many accounts
  • Debit card rewards rivaling some credit card rewards programs
  • Special perks for New York Giants and New Jersey Devils fans who open a team-themed checking account

Cons

  • Lots of fees and account restrictions
  • IRA CDs not available online
  • No credit cards offered

About Investors Bank

Investors Bank is the official bank of the New York Giants and the New Jersey Devils, but you don’t have to be a sports fan to bank here. At its founding in 1926, the bank was committed to making mortgage loans to encourage home ownership in the Millburn-Short Hills area of New Jersey. Today’s Investors Bank has 152 branches offices located in Pennsylvania, New Jersey and New York. In addition to providing loans and deposit accounts to individuals, Investors Bank offers small business, commercial and institutional banking products and services.

GOBankingRates named Investors Bank as one of the Top 100 Banks of 2022 in its annual Best Banks rankings. Keep reading to find out what Investors Bank has to offer.

Investors Bank Products

When it comes to personal banking, Investors Bank focuses on just a few things: deposit accounts, personal loans and, in keeping with its original mission, mortgage lending. However, you’ll find a comprehensive selection of products within those categories.

Checking Accounts

Investors Bank offers five checking accounts serviced by its branch locations and an only-only account. The in-branch accounts range from a basic Consumer Checking account with no minimum balance requirements and a low monthly fee to the YourStyle Plus Checking account designed for YourStyle Plus Money Market or High Yield Savings account customers. Other options include New York Giants Checking and New Jersey Devils Checking, which offer team-related perks like merchandise discounts and exclusive event access.

Accounts offer free online banking, online bill pay and e-statements. The uChoose Rewards program allows you to earn points on debit card purchases made wherever Visa is accepted. Points can be redeemed for travel, merchandise and more.

The YourStyle Checking and YourStyle Plus Checking accounts come with extra perks such as cell protection, identity theft protection and mobile coupons for discounts on travel, dining and shopping. Additionally, with YourStyle Plus, you can earn 0.05% APY on your balance.

Keep in mind that you’ll need $50 to open all accounts except the Consumer account. The $10 monthly service fee for YourStyle Checking and the team accounts can be waived with requirements such as maintaining a minimum balance of $1,000, receiving $500 or more in direct deposits or completing at least 10 debit card transactions. Likewise, YourStyle Plus Checking has a $20 monthly fee that’s waived if you maintain a minimum balance of $20,000 and meet at least one other condition, such as by receiving $1,000 or more in direct deposits or completing at least 10 debit card transactions.

Consumer Checking comes with a lower opening requirement of $25, but the monthly fee of $3 is not waivable.

Savings Accounts

Although Investors Bank has fewer savings accounts available online, the accounts it does offer cover all the bases for most customers. If you choose YourStyle Savings, you’ll earn 0.05% APY on balances over the minimum opening requirement of $50. YourStyle Savings has a $5 monthly fee that’s waived if you maintain a $300 balance or for students, seniors and anyone affiliated with the U.S. military. You’ll also receive two free non-Investors ATM withdrawals per statement period for YourStyle Savings accounts.

The High Yield Savings account for YourStyle Plus Checking customers offers a premium rate of 0.05% APY on balances of $1 or more or 0.10% APY for $5,000 and up. Other accounts such as a basic Passbook Savings account and a Retirement Statement Savings account are available in-branch only.

Money Market Accounts

You’ll find no fewer than four money market accounts available online or in-branch at Investors Bank, plus an online-only eAccess Money Market account.

Maximizer Money Market requires a minimum opening deposit of $10,000 and offers tiered rates ranging from 0.05% to 0.10%, depending on your balance. YourStyle Money Market and YourStyle Plus Money Market, the relationship account available to YourStyle Plus Checking account holders, each require only $50 to open. YourStyle Plus offers an APY of 0.05% if you maintain at least $200,000. Otherwise, the APY on YourStyle Plus and YourStyle account balances is 0.05%. The eAccess account’s rate is 0.15%, and you can open an account with $0 and earn interest on up to $2 million.

While you can make two free non-Investors Bank ATM withdrawals from the YourStyle Money Market account per statement cycle, money market accounts are limited to just six checks written or transfers to other accounts per month.

CD Rates

GOBankingRates ranked Investors Bank’s CD offerings among the Best CD Accounts of 2022. Terms range from three to 60 months, and rates range from 0.15% to 0.50% APY. You can open most Investors Bank CDs with a $500 deposit, but you’ll need $10,000 for the 13-month Special CD, which offers the same annual percentage yield of % as the 24-month CD. The IRA version of the 13-month Special CD requires a $5,500 opening deposit. Investors Bank also offers an online-only eAccess CD offering 0.15% APY with terms of six or 10 months. Most CDs have penalties for early withdrawal, but they’re a good choice for earning interest on longer-term savings.

Best Features of Investors Bank

Investors Bank earned a high GOBankingRates score of 4.5 based on four high-performing categories:

Convenience

Customers who do some banking online and live near a branch office should find Investors to be a highly convenient place to bank. You can visit the branch locator page on the Investors Bank website to find a location near you.

Breadth of Products

In addition to checking, savings and money market accounts and CDs, Investors Bank offers a variety of other products, including individual retirement accounts, personal loans, mortgage loans, and home equity loans and lines of credit.

Rates

Investors Bank offers competitive rates, along with the option to earn interest in all account categories, including checking. The YourStyle Plus Checking account offers an APY of 0.05%, which is higher than the national average rate of 0.03% APY for interest-bearing checking accounts.

Customer Service

Customer support is available by phone at 855-422-6548 during the hours of 8 a.m. to 7 p.m. Monday through Friday, and from 8 a.m. to 6 p.m. on Saturdays and Sundays.

Current customers can chat with customer service reps or use secure messaging through online banking. If you’re not yet a customer, you can use the email form on the Investors Bank website to send a general question or support request.

Editor’s Favorite

Investors Bank’s team-themed accounts are standouts. The perks they offer are certain to appeal to Giants and Devils fans.

Banking Experience

Your experience with Investors Bank is likely to be a positive one as long as you have flexibility in where you bank — at a branch office or online. Although you can open and maintain most accounts either way, Investors does have in-branch-only accounts and online-only accounts that might work better for you than the hybrid offerings.

Branch Availability

Investors Bank has 152 branch offices in Pennsylvania, New Jersey and New York, concentrated in North Jersey, the northern beach areas and the Interstate 95 corridor. New York branches extend across to the western half of Long Island.

Appointments are recommended due to restrictions on the number of customers permitted in branch offices. Use the appointment request form on the bank’s website to schedule a visit.

Mobile and Digital Experience

Manage your accounts, pay bills, check your credit score, review statements, send money, manage YourStyle Perks security features and connect to your Quicken software through Investors Bank’s online banking. Most online banking services are available 24/7.

Use mobile banking to access and manage your accounts on the go, send money with Zelle, deposit checks and pay for purchases using a mobile wallet. Facial and fingerprint recognition give you fast and secure access to your accounts. The app gets 3.9 stars on Google Play and 4.8 stars in the App Store.

How To Open an Account

You can open most accounts online using your computer, smartphone or tablet. Have the following items ready before you start:

  • Contact information
  • Physical address
  • Valid email address
  • Social Security number
  • Government-issued ID, such as driver’s license or passport
  • Current bank account information to make the opening deposit in your new Investors Bank account

Investors Bank Fees

Most Investors Bank accounts have monthly service fees, which you can avoid by meeting minimum balance and transaction requirements. Other fees, such as for overdrafts and out-of-network ATM transactions, can be avoided by keeping track of your balances and minimizing the number of withdrawals you make.

Here are fees you might encounter at Investors Bank:

  • Overdraft and non-sufficient funds: $30
  • Returned check: $15
  • Excess withdrawals: $3 after four allowed with most checking accounts and two allowed from Statement Savings and YourStyle Money Market accounts
  • Out-of-network ATM withdrawals: $3 after limit is reached
  • Wire transfers: Incoming, $10; domestic outgoing, $25; international outgoing, $45
  • Inactivity fee: $5 per month

Investors Bank vs. Competitors

It pays to compare several banks before deciding which is the best bank for you. Here’s a look at how Investors Bank stacks up against other community banks located in the New Jersey/New York area.

Bank Best For
Investors Bank Selection of accounts and account perks
OceanFirst Bank Free rewards checking
ConnectOne Bank Competitive rates
Columbia Bank Free high-yield checking

Investors Bank vs. OceanFirst Bank

OceanFirst has a free rewards checking account with unlimited U.S. ATM use. But when it comes to rates, Investors Bank is the clear winner.

Investors Bank vs. ConnectOne Bank

ConnectOne Bank’s rates for online savings accounts beat Investors Bank savings account rates on balances of $2,500 and up. However, you won’t earn any interest at all unless you have a $2,500 balance. Most Investors Bank accounts earn interest from the first dollar you deposit, and those that don’t have a $50 threshold.

Investors Bank vs. Columbia Bank

Colombia Bank offers a Yield Plus Checking account that outmatches Investors Bank’s rates on balances of $1,000 or more — and it’s free. That said, Investors Bank comes with perks that can save you more money in the long run than you’re likely to earn in interest — especially if you take advantage of the exclusive benefits offered by the Giants- and Devils-themed accounts.

Final Take

If you’re looking for a community bank focused on serving New Jersey and New York residents, Investors Bank could be the one for you. Solid account choices and a robust digital platform make this an excellent choice, especially for customers who might need other bank services, such as a home loan.

Investors Bank FAQ

Here are the answers to some commonly asked questions about Investors Bank.
  • How does the Investors eAccess bonus work?
    • The Investors eAccess Checking bonus rewards new checking customers with a bonus of $25 per month for up to 10 months after you open your account. To be eligible, you must maintain an average balance of $1,000 each month. You must also receive $500 in automated clearing house or mobile deposits or make 10 point-of-sale debit purchases each month.
  • What is the Investors Bank customer service number?
    • The customer service number is 855-422-6548.
  • Where is the Investors Bank headquarters?
    • Investors Bank's corporate headquarters is located in Short Hills, New Jersey.

Cynthia Bowman contributed to the reporting for this article.

Rates are subject to change. Information on accounts is accurate as of Apr. 26, 2022.

Editorial Note: This content is not provided by Investors Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Investors Bank.

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About the Author

Daria Uhlig is a personal finance, real estate and travel writer and editor with over 25 years of editorial experience. Her work has been featured on The Motley Fool, MSN, AOL, Yahoo! Finance, CNBC and USA Today. Daria studied journalism at the County College of Morris and earned a degree in communications at Centenary University, both in New Jersey.

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