Republic Bank Reviews

Republic Bank is a top choice if you live in its service area and need a brick-and-mortar bank with physical locations. It has a string of perks that make it stand out among regional banks, including a large ATM network, the ability to live chat customer service and some non-network ATM refunds.

Although Republic Bank’s certificates of deposit (CDs) earn competitive yields, its other savings products are below the national average. If you don’t need the in-person services Republic Bank offers, you’ll find higher yields to grow your savings faster with online banks like Ally, Synchrony and SoFi.

Republic Bank is a regional financial institution with 47 banking centers spread across Florida, Indiana, Kentucky, Ohio and Tennessee. It uses the Republic Bank, Presto, Sum, MoneyPass and Allpoint networks to give its customers access to over 90,000 ATMs nationwide.

You can open most Republic Bank accounts online, but some CDs and retirement accounts must be opened in person.

You’ll find quite a selection of financial products at Republic Bank. Account details are for zip code 40202, which is where the bank is headquartered.

Personal checking account

Republic Bank has five checking account options, along with a health savings account.

• Easy Checking is good if you’re looking for a basic checking account. It has no monthly fee and a $50 opening deposit.
• Simple Access Checking has no overdraft fees and the ability to access direct deposits up to two days early and tax refunds up to five days early. Open with just $10. There’s a $4.95 monthly fee that’s waived with one direct deposit, debit card transaction or online bill pay per month.
• Flex Checking earns interest but has a $12 monthly fee you can avoid with one of the following: a $1,000 minimum daily balance, one monthly direct deposit or 10 monthly debit card transactions. Open your account with a $50 minimum.
• Pinnacle Checking earns interest but has a $25 monthly fee you can waive with a minimum $5,000 balance. It also features unlimited ATM reimbursements, a free safe deposit box and free checks. A $50 opening deposit is required.
• Military Honors Checking is dedicated to military personnel. It has no monthly fee and comes with four non-Republic ATM fee waivers per month.
• Health Savings Account helps you save for medical expenses if you have a high-deductible health plan.

Personal savings account

Republic Bank provides customers with three types of savings products. Although these accounts have above-average yields, you’ll find better rates with online banks.

• Advantage Savings has a $5,000 minimum opening deposit and earns 0.35% annual percentage yield (APY).
• Easy Savings has a lower, $10 opening deposit but earns only 0.25% APY.
• The Money Market Account has a $1,000 opening deposit and earns 0.35% APY.

Out of all the savings products, Republic Bank’s CDs have the best rates. You’ll need a minimum $1,000 opening deposit on these terms:

• 6-month CD: 2.00% APY
• 11-month CD: 4.50% APY
• 12-month CD: 4.25% APY
• 15-month CD: 3.50% APY
• 18-month CD: 2.65% APY
• 24-month CD: 2.75% APY
• 36-month CD: 3.50% APY
• 48-month CD: 3.75% APY
• 60-month CD: 4.00% APY

Personal loans and lines of credit

With Republic Bank, you’ll find unsecured personal loans up to $10,000, as well as a credit builder program to help you improve your credit score in one year. The bank also offers auto loans, personal aircraft loans and marine craft loans.

Credit cards

Republic Bank’s line-up of credit cards consists of two rewards cards with 0% introductory annual percentage rate (APR) offers and a secured card to help you build your credit history. The secured card is the only one with an annual fee ($50).

Mortgages and home equity

If you’re looking to buy a home or tap into existing equity, Republic Bank has a wide range of products to help. It offers:

• Conventional mortgages
• Jumbo mortgages
• Contingency relief loans
• Home equity loans
• FHA loans
• VA loans
• USDA loans
• Kentucky Housing loans
• Lot and land loans
• Mortgage refinancing
• Cash-out refinancing

Business banking

If you’re a business owner, Republic Bank has a range of services to help you manage your finances:

• Business checking accounts
• Business savings accounts
• Commercial accounts
• Business loans and lines of credit
• Business credit cards
• Equipment leasing

Republic Bank’s CD rates are well above the national average, according to the Federal Deposit Insurance Corporation (FDIC), but its savings account and money market rates fall flat. This table compares Republic’s rates with the national average.

Republic Bank charges all of the same fees you’ll find at traditional banks, including monthly fees for various accounts. However, some of its fees are higher than average. For instance, its outgoing international wire transfer is $60, which is one of the highest amounts we’ve seen. Also, it charges $36 for overdrafts, while most overdrafts are around $30.

Republic Bank has these fees:

• $3.50 for non-network ATMs
• $36 for overdrafts
• $8 daily overdraft fee (starts on the third day of your account being overdrafted)
• $36 for stop payment requests
• $30 for incoming wire transfers
• $30 for domestic outgoing wire transfers
• $60 for international domestic wire transfers

Republic Bank’s savings account options pale in comparison to what you’ll find with similar institutions like CIT Bank and PNC Bank. If you live in either bank’s service area, you may earn more interest overall with one of these options.

Republic Bank is headquartered in Louisville, Kentucky and operates as the 190th largest commercial bank in the United States. The bank is FDIC-insured and manages over $6.5 billion in assets, as of the latest Federal Reserve data.