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Bank of Pontiac Review

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Bank of Pontiac Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Bank of Pontiac started in 1947 with its headquarters in Pontiac, Illinois. It manages $515 million in assets and $439 million in deposits, making it a medium-size bank. Bank of Pontiac 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 in-person service, in addition to its online and mobile offerings. With a commendable 4.3 stars out of 5, Bank of Pontiac proves it is a solid pick to be your bank. Bank of Pontiac provides customers with a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts and mortgage products. Bank of Pontiac has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Bank of Pontiac's standard checking account does not have a monthly charge. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is your best bet for gaining the most income on your deposits alongside convenient access to your money.

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 0.07%, Bank of Pontiac ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.65% and the five-year CD has a rate of 2.01%, while its highest-yielding money market account has an APY of 0.20%. Given Bank of Pontiac's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Bank of Pontiac's Savings Rates Compare

Bank of Pontiac Savings 0.07 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Bank of Pontiac has typically extremely low fees in comparison to other U.S. banks. Bank of Pontiac's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Bank of Pontiac doesn't refund out-of-network ATM fees, which means you'll be required to locate a Bank of Pontiac ATM or eat the cost of withdrawal.

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

SmartAsset Average: 3.7

Bank of Pontiac is a brick-and-mortar bank, with nine total bank locations in Illinois. It also offers access to mobile and web apps for simple access and banking on the go. Bank of Pontiac gets fairly decent scores from customers for its mobile app. With 9 ratings on both Apple and Android platforms, the Bank of Pontiac mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can access Bank of Pontiac's app to manage your accounts by monitoring monthly statements, sending and receiving money as well as reaching customer service. Bank of Pontiac receives a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Bank of Pontiac is a medium-size bank with $515 million in assets as well as deposits totaling $439 million. Bank of Pontiac has a strong Texas Ratio of 5.35%, signifying a small likelihood of failure. Additionally, Bank of Pontiac 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 Bank of Pontiac to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $100
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.90% APY
  • 36 Month: 1.41% APY
  • 60 Month: 2.01% APY
$500 for all terms
Money Market Account 0.2% APY $2500

Bank of Pontiac has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Pontiac 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. Bank of Pontiac's CD rates are fair in comparison to the national average.

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Find a Bank of Pontiac Near Me

Bank of Pontiac has nine physical locations across the U.S.

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