Loading
Tap on the profile icon to edit
your financial details.

21st Century Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
21st Century Bank Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1917, 21st Century Bank has $436 million in assets along with deposits totaling $382 million, which makes the institution a medium-size bank. 21st Century Bank, whose headquarters are in Loretto, Minnesota, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3 stars out of 5, 21st Century Bank should be more closely analyzed to see if its features fit your needs. 21st Century Bank has a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate compared to the average savings account. Finding an institution with no-fee checking, in addition to a high savings APY is the best option for returning the highest income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.0/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.8
SmartAsset Average: 3.5

21st Century Bank features a savings rate of 0.02%, which is poor compared to the national average. 21st Century Bank's CD rates are 0.10% and 0.70% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.05%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How 21st Century Bank's Savings Rates Compare

21st Century Bank Savings 0.02 National Average 0.26 Compare Offers
Back to Overview

Fees

NR
SmartAsset Average: 4.4

There is insufficient data on 21st Century Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

2.5
SmartAsset Average: 3.7

21st Century Bank is a brick-and-mortar bank, with seven total bank locations in Minnesota. It also offers access to a web app, for a simple online-banking experience. 21st Century Bank gets an exceptional consumer satisfaction rating based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

3.8
SmartAsset Average: 4.8

21st Century Bank is a medium-size bank and has assets totaling $436 million and $382 million in deposits. Its Texas Ratio is 25.74%, indicating that the bank is in decent financial shape. Additionally, 21st Century Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

25.74%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare 21st Century Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.02% APY $200
Checking Account 0.02% APY $1500
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.20% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.70% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

21st Century Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. 21st Century Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. 21st Century Bank's CD rates are fair compared to the average U.S. bank.

Back to Overview

Find a 21st Century Bank Near Me

21st Century Bank has seven physical branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure