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Affiliated Bank Review

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Affiliated Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1959, Affiliated Bank has $621 million in assets along with deposits totaling $422 million, which makes the institution a medium-size bank. Affiliated Bank, whose headquarters are in Bedford, Texas, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.1 stars out of 5, Affiliated Bank is a respectable bank that should be given a look. Affiliated Bank has a full selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Affiliated Bank offers an option without a maintenance or monthly fee. Using an institution with free checking and a high interest rate savings account is the best bet for gaining the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

With a savings rate of 0.50%, Affiliated Bank ranks poorly in comparison to other U.S. banks. Affiliated Bank's one-year CD earns at a rate of 1.00%, while its highest-yielding money market account earns at a rate of 0.50%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How Affiliated Bank's Savings Rates Compare

Affiliated Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Affiliated Bank generally has extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Affiliated Bank does not reimburse out-of-network ATM fees, which means you will have to locate an Affiliated Bank ATM or pay the fee.

Monthly Fee $0 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

2.5
SmartAsset Average: 3.7

Affiliated Bank is a brick-and-mortar bank, with four total bank locations in Texas. It also offers access to mobile and web apps for straightforward access and banking on the go. You can use Affiliated Bank's mobile app to manage your bank accounts by monitoring monthly statements, transferring funds and accessing support representatives. Affiliated Bank gets an excellent consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Affiliated Bank is a medium-size bank with $621 million in assets and $422 million in deposits. It has a strong Texas Ratio of 7.90%, denoting that Affiliated Bank is in good financial condition and unlikely to fail. Additionally, Affiliated Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.9%
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 Affiliated Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $2000
Checking Account 0.25% APY $100
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.26% APY
$1000 for all terms
Money Market Account 0.4% APY $2500

Affiliated Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Affiliated Bank does not have the best savings rate, which means you should think about looking elsewhere 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. Affiliated Bank's CD rates are fair compared to the average U.S. bank.

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Find a Affiliated Bank Near Me

Affiliated Bank has four physical branches in the U.S.

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