Sterling Bank Review: Rates, Service, And Safety in 2026

In this review, we examine Sterling Bank and Trust, a Southfield, Michigan–based institution in the United States offering a headline savings annual percentage yield of 0.10%. The bank opened in 1984 and today manages $2.43 billion in assets with $2.07 billion in deposits, combining branch access with online and mobile banking. This article covers Sterling Bank and Trust (United States), not Sterling Bank (Nigeria), and it does not provide financial strength data for the Nigeria-based bank.

Launched in 1984, the bank qualifies as a large institution given its $2.43 billion in assets and $2.07 billion in deposits. Customer service lacks premium access points such as live chat and 24/7 support, though representatives are available in person at branches alongside digital self-service. With a 4.3 out of 5 overall score, it stands as a credible option. The product set is broad, yet the savings yield is only average, and better-paying options are available elsewhere. For everyday banking, pairing a no-monthly-fee checking account with a higher-yield savings at one provider typically helps maximize interest while keeping funds easy to access.

The overall rating reflects a weighted blend of rates, fees, service quality, and financial health. National average benchmark: 4.1.

Methodology Details:

• If any component score is missing, the composite is calculated from the remaining categories.
• Rates: We compare annual percentage yields and interest rates for specific products against national averages. Offers may vary by location; figures reflect the best nationally available terms.
• Fees: We assess typical charges versus national norms and factor in whether the bank reimburses out-of-network cash machine fees.
• Service Quality: We combine an app usability score with a customer satisfaction measure informed by Consumer Financial Protection Bureau complaint data.
• Financial Health: We use the Texas Ratio as a credit-stress signal. Under 5% is Excellent; under 20% Very Good; under 50% Good; under 90% Fair; above 90% Poor.

The savings annual percentage yield of 0.10% trails the typical United States bank. The one-year certificate of deposit pays 1.90% and the five-year certificate of deposit pays 1.40%, while the top money market option earns 0.15% annual percentage yield. Given the modest savings return, rate shoppers can likely earn more on idle cash with competitors.

Relative to common market averages, the bank’s deposit yields are on the low end, especially for liquid savings and money market balances.

There is not enough publicly available information on this bank’s fees to produce a complete rating in this category. In practice, the fees that commonly matter most for deposit accounts include monthly maintenance charges, overdraft and nonsufficient-funds charges, out-of-network cash machine fees, wire or expedited transfer fees, and paper statement or special service charges; confirm the bank’s current fee schedule for product-specific amounts and waiver options.

The institution operates 27 branches across California, Michigan, and New York, and provides web and mobile access for on-the-go account management. Across iOS and Android, the mobile app averages 3.0 out of 5 from nine ratings, compared with a 3.8 national benchmark—an indication of middling user sentiment. Core features include balance views, transfers, and contacting customer care. With that feature set, the digital experience appears geared toward basic day-to-day tasks rather than premium support or advanced money-management tools, and the below-benchmark app rating may reflect usability or reliability friction for some users. Complaint volumes reported to the Consumer Financial Protection Bureau are comparatively low, supporting a strong customer satisfaction outcome; given the low volume, there is not a clear dominant complaint theme, and issues that do appear tend to be isolated and often relate to account servicing, transactions, or customer support interactions. Beyond app-store ratings and complaint patterns, this review does not include a consolidated summary of third-party local review platforms (such as Google, Yelp, or the Better Business Bureau), where feedback can vary significantly by branch and over time. This review also does not evaluate employee experience or workplace culture at Sterling Bank and Trust; if you are considering working there, you will typically need to compare role details and employee feedback from job listings and employment-review sources.

By size, the bank is substantial with $2.43 billion in assets and $2.07 billion in deposits. Its Texas Ratio stands at 4.24%, signaling robust credit health and a low likelihood of failure. Deposits are insured by the Federal Deposit Insurance Corp. up to $250,000 per depositor, per ownership category. Taken together, federal deposit insurance coverage for qualifying deposits and a low Texas Ratio support the view that Sterling Bank and Trust is generally a trustworthy and safe place to hold insured deposits, within standard account limits.

Current Terms and Minimums:

• Savings accounts
• Checking accounts
• Money market accounts
• Certificates of deposit
• Individual retirement accounts

While the savings yield is not among the best, certificates of deposit may help boost return if you can forgo immediate liquidity. Overall, the certificate of deposit rates are middle-of-the-pack versus national figures.