Saigon National Bank Rates & Review

Saigon National Bank Review

Saigon National Bank is a community bank supporting the financial needs of the Vietnamese business community in Southern California.

Founded in 2005 with the Vietnamese business community in Southern California in mind, Saigon National Bank features a bilingual staff and shareholders who understand the Vietnamese community and its culture. The bank is based in Westminster, Cal. and offers business and personal banking products, investment options, and loans.

Personal accounts

Saigon National Bank offers a personal checking account with no monthly fee if customers meet a minimum daily balance of $200 or a monthly average balance of $400 (as of Sept. 2010). The bank's personal interest checking account earns interest with a minimum balance of $1,000. Personal savings account options include Regular Savings, Education Savings, and CD and money market account plans.

Business accounts

For business customers, Saigon National Bank offers an interest-earning checking account wiht a $1,000 minimum, or an account for businesses with high check volumes and a $500 minimum. Among business savings account options are a low-minimum savings, a money market account, and CD options.

Loan packages

In addition to deposit accounts, Saigon National Bank offers home equity loans featuring a fixed rate, terms up to 15 years, no prepayment penalties, and the potential for the loan to be tax deductible.

Financial services

Personal and business banking services include online banking, bill pay, automatic email alerts, and fund transfers between accounts.

Deposit insurance

Saigon National Bank has been insured by the Federal Deposit Insurance Corporation since the bank's founding in 2005. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

Compare savings account interest rates from Saigon National Bank and hundreds more banks and credit unions at SavingsAccounts.com.