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Jenius Bank review (2024)
Summary: Jenius Bank is the digital banking division of SMBC MANUBANK, a California state-chartered commercial bank based in Los Angeles. Jenius Bank offers personal loans and high-yield savings accounts.
Jenius Bank products and services
Jenius Bank offers the following products and services:
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High-yield savings account: The Jenius High-Yield Savings Account is one of the few HYSAs offering over 5% APY — that’s more than 10 times the national average for savings accounts. There are no monthly fees or minimum balance requirements for this account and interest is compounded daily.
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Personal loans: Jenius personal loans start at $5,000 and go up to $50,000 with rates from 9.49% to 23.49%. There are no loan origination fees, prepayment fees, or charges for late or missed payments. Repayment terms for a Jenius personal loan range from 36 months to 72 months. Jenius is not currently accepting personal loan applications on its website. However, you may be able to qualify for a Jenius loan if you apply through Intuit Credit Karma or Lending Tree and meet eligibility requirements.
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Jenius Bank fees
Jenius Bank does not charge any fees for its savings accounts. Additionally, you will never pay loan origination fees, prepayment fees, late or missed payment fees, transaction fees, and the like as a Jenius customer.
Jenius Bank pros and cons
Here are some of the major pros and cons of banking with Jenius Bank:
Pros:
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Competitive interest rate for high-yield savings account: Jenius Bank’s high-yield savings account offers 5.05% APY, which is one of the highest rates available.
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No fees or minimum balance requirements: Jenius does not currently charge any fees for its accounts or personal loans. There is also no minimum balance requirement to keep your account open or avoid fees.
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24/7 customer service: Jenius bankers are available to chat 24/7.
Cons:
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Limited account options: Jenius only offers savings accounts and personal loans. It does not currently offer checking accounts, money market account accounts, credit cards, or other types of financing. This could be a drawback for customers with more extensive banking needs.
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No physical branches: Jenius operates online only and does have any physical branches for customers to visit.
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Certain products are not available in every state: Jenius savings accounts are not available for residents of Hawaii or New Mexico. Additionally, Jenius is not accepting personal loan applications from residents of Hawaii, Nevada, Wisconsin, or Maryland.
Customer service and mobile banking experience
Jenius Bank representatives are available to assist customers 24/7 at 844-453-6487. Jenius also has a mobile app available for download on the App Store and Google Play. The app has a rating of 4.8 stars and 3.9 stars, respectively. Customers can use the app to view account balances, transactions, and account details, transfer money between accounts, and more.
Frequently asked questions
Is Jenius Bank FDIC-insured?
Yes, Jenius savings deposits are FDIC-insured up to the federal limit of $250,000 per depositor, per ownership category.
What is Jenius Bank’s routing number?
Jenius Bank's routing number is 122045354.
Who is the parent company of Jenius Bank?
Jenius Bank is the digital division of SMBC MANUBANK, a California state-chartered commercial bank and wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group.
