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21st Century Bank Review

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21st Century Bank Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


21st Century Bank started in 1917 with headquarters in Loretto, Minnesota. 21st Century Bank manages assets of $436 million along with $382 million in deposits, classifying it as a medium-size bank. 21st Century Bank 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 out of 5 stars, 21st Century Bank should be more closely analyzed to see if its services fit your needs. 21st Century Bank offers a full selection of banking products, including savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate compared to the average savings account. Locating a bank with no-fee checking, in addition to a high savings APY is your best bet for getting the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.02%, 21st Century Bank ranks poorly as compared against the national average. Its one-year CD earns at a rate of 0.10% and the five-year CD has a rate of 0.70%, while its highest-yielding money market account has an APY of 0.05%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.

How 21st Century Bank's Savings Rates Compare

21st Century Bank Savings 0.02 National Average 0.26 Compare Offers
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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
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Service Quality

SmartAsset Average: 3.7

21st Century Bank is a brick-and-mortar bank, with seven total branches in Minnesota. It also offers access to a web app, for a straightforward online-banking experience. 21st Century Bank gets an excellent consumer satisfaction score due to relatively few consumer complaints filed with 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
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Financial Health

SmartAsset Average: 4.8

21st Century Bank is a medium-size bank and manages $436 million in assets and deposits totaling $382 million. 21st Century Bank has a good Texas Ratio of 25.74%, suggesting that 21st Century Bank is in decent financial well-being. 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

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.

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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 Account 0.05% APY $2500

21st Century Bank has several deposit products including 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 think about 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 national average.

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Find a 21st Century Bank Near Me

21st Century Bank has seven branches in the U.S.

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