Jenius Bank Review: Competitive Rates and Simple Savings Solutions
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
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Open a Jenius Savings Account with no minimum balance requirement.
Jenius Bank offers a high-yield savings account with a competitive APY and no monthly fees, providing customers with cost-effective solutions. The bank ensures 24/7 access to U.S.-based customer service, enhancing the overall banking experience. GOBankingRates ranked it among the Best Banks of 2025 for High-Yield Savings Accounts.
While Jenius Bank is relatively new, its parent SMBC Group can trace its roots back over 400 years. Currently, Jenius Bank offers only savings accounts and personal loans, but expect to see more products in the future. The website is easy to navigate and includes a comprehensive blog with plenty of good information on financial topics.
Jenius Bank High-Yield Savings AccountÂ
Jenius Bank’s Savings Account offers a high-yield APY of , with no monthly fees or minimum balance requirements.
- Offers FDIC-insured deposits.
- No need to worry about fees or minimum balance requirements.
- A higher APY compared to competitors.
- No physical branches.
- Lacks a checking account, limiting its ability to serve as a comprehensive solution for managing all your banking needs.
BRONZE WINNER
Best For
High-Yield Savings Accounts
Mobile App
Online Banking
Great APYs
Low Monthly Fees
Earn Interest With No Fees or Balance Requirements
The Jenius Bank Savings Account offers a competitive APY. With no minimum balance or monthly fees, it’s a straightforward option for hassle-free banking.
Fees
None
APY
Min Opening
$0
Pros
- High APY
- No minimum balanceÂ
- No fees
- Easy mobile app to navigate
Cons
- Limited account options available
- No physical branchesÂ
- No ability to deposit cashÂ
Why We Like Jenius Bank
Jenius Bank is an online-only institution offering a high-yield savings account with a competitive annual percentage yield and no monthly fees.
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Jenius Bank Personal Loans
Jenius Bank offers personal loans ranging from $5,000 to $50,000 with competitive fixed interest rates. These loans feature no origination fees, prepayment penalties or late fees, providing a transparent borrowing experience.
- No origination fees.
- No prepayment penalties.
- Personal loans span from $5,000 to $50,000.
- No physical branches may be a drawback.
- Limited account options overall.
Best For
High-Yield Savings Accounts
Mobile App
Online Banking
Great APYs
Low Monthly Fees
Borrow Without Fees or Penalties
Jenius Bank’s personal loans provide a transparent borrowing experience with no origination fees, prepayment penalties or late fees. Loan amounts range from $5,000 to $50,000.
Fees
None
Rates
9.24% to 23.49% APR
Loan Amounts
$5,000 to $50,000
Pros
- A broad range of loan amounts
- No origination fee
- Quick access to fundsÂ
- There is a rate discount when you enroll in auto-pay
Cons
- No physical branches
- Loan options vary by state
Why We Like Jenius Bank
Jenius Bank offers competitive loans ranging from $5,000 to $50,000. The access to cash is relatively quick.
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Jenius Bank Banking Experience
Jenius Bank is designed to make banking more human. Its website is easy to navigate and use.Â
Additionally, it offers a mobile app, which is available on the App Store and Google Play.Â
If you need assistance, you can call Jenius Bank’s customer service line, which is available 24/7.
Comparable Online Bank Options
Explore how Jenius Bank compares to other online banks.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
None
$0
None
APY
APY
APY
Min Opening
Min Opening
Min Opening
$0
$0
$0
Jenius Bank vs. Ally Bank
Ally Bank has become the gold standard of online banks, and for good reason. It has consistently high interest rates and is easy to use. Right now, the interest rate on savings accounts is APY. Ally also offers checking accounts, money market accounts and CDs.Â
Jenius Bank vs. Chime
Chime®1 is not a bank, but a fintech company that partners with banks. Chime offers a highly regarded banking app, along with checking and savings accounts. You must have a Chime checking account to be eligible to open a savings account. The current savings interest rate at Chime is APY2.
Jenius Bank vs. Marcus by Goldman Sachs
Jenius Bank and Marcus by Goldman Sachs both offer high-yield savings accounts with competitive APYs and no monthly fees, appealing to savers. Marcus stands out with a broader product range, including CDs with no-penalty options, while Jenius focuses solely on its savings account, emphasizing simplicity and modern digital tools. Both lack checking accounts, but Jenius is ideal for streamlined savings, and Marcus caters to those seeking more product variety.
Final Take
It looks as though Jenius Bank is just getting started. While you can’t do all your banking with Jenius Bank, the savings account’s interest rate is worth considering.
Jenius Bank FAQ
- What is the minimum balance at Jenius Bank?
- Jenius Bank’s Savings account doesn’t require a minimum balance to open the account or to earn interest.
- How often does Jenius pay interest?
- Jenius Bank’s Savings account compounds interest daily and credits it to your account monthly.
- Is Jenius Bank a legitimate bank?
- Yes, Jenius Bank is a legitimate institution. Deposits are insured by the FDIC up to the standard limit of $250,000 per depositor, ensuring customers' funds are protected.
- Does Jenius Bank offer a good high-yield savings account?
- Yes. GOBankingRates ranked it among its Best High-Yield Savings Accounts. It offers a 4.20% APY with no minimum deposit requirement.
Caitlyn Moorhead and Karen Doyle contributed to the reporting for this article.
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.
*Variable annual percentage yield (APY) as of Nov. 11, 2024, and subject to change at any time.
1Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
2The annual percentage yield (APY) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of Sept. 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
To determine rankings GOBankingRates looked at the following factors from all banks: (1) minimum deposit to open an account; (2) monthly savings fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) minimum needed to earn APY; (4) savings APY; and (5) 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 (2) and (3) weighed 1.5 times, factor (4) weighed 4 times; and factor (5) weighed 0.5 times. To be considered for the HYSA, the product offered had to have an APY above 0.45%. 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 Nov. 25, 2024.
