Best Banks In America
Are you looking for the best banks in America? Banks are rated differently and sometimes the biggest bank with the most assets is not the best bank. There are the best commercial banks and there are the best banks as compared with regards to their assets, reserves and conservative loan practices. When choosing a bank to use or invest in, consider which bank fits your needs the most.
- Best Commercial Banks in America. The best commercial banks in America are those where you would go to get a business loan. A commercial loan could be any apartment complex with five or more units. Commercial loans include restaurants, garages, large apartment buildings, department stores, shopping malls and more. The best commercial banks in America are JP Morgan Chase Bank, Bank of America, Citibank, Wachovia Bank and HSBC Bank USA.
- Best Banks with the Most Assets. These banks are chosen based on their assets and have nothing to do with customer service, loan to debt ratios or reserves. These banks were chosen based on the Federal Reserve figures. The banks in America with the most assets are Bank of America, JP Morgan Chase Bank, Citibank, Wells Fargo and Goldman Sachs Group.
- Best Banks in America to Get an Islamic Loan. The new trend in financing is to follow the guidelines of Islamic banking. This means that loans are given with no interest at all. Islamic mortgages charge a profit rate and the word "interest" is not allowed on the documentation. This profit rate is the same as the interest rate or higher in some cases. There are very few true Islamic Banks in America, so many regular banks have opened their own branch adhering to the Islamic Sharia guidelines. Here are some banks to consider: JP Morgan Chase, Deutsche Bank, HSBC, Devon Bank of Chicago, University Bank of Ann Arbor, Michigan and The Bank of Whittier (Islamic Bank).
- Best Banks in America for Overall Ranking. These banks were compared for assets, conservative loan practices, loan percentages compared to reserves and more. Sun Trust was rated as the worse bank in America because of their very high fees. The overall best banks in America are Bank of Hawaii, UMB Financial, Commerce Bancshares, Prosperity Bancshares, SVB Financial, CBV Financial, Community Bank System, Central Bancompany, NBT Bancorp and International Bancshares.
- Best Online Banks in America. Besides rating the best banks in America, there are also banks that are rated for their online services. With more and more Americans relying on the internet for instant banking, this list is very valuable. Banks are rated on interest earned, convenience, availability and service. The best online banks in America are Evantage Bank located in Mustang, Oklahoma (high yield), Westfield Bank located in Akron, Ohio (high yield on big balances), Ally Bank (no strings, no fees), Ing Direct (no fees, no strings), USAA Free Checking (mobile Bank), PNC (combination of checking and savings).