Bank of Pontiac was founded in 1947 with headquarters in Pontiac, Illinois. It handles assets of $515 million and $439 million in deposits, classifying it as 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.3 stars out of 5, Bank of Pontiac is a great bank that you should seriously consider. Bank of Pontiac provides customers with a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Bank of Pontiac's most basic checking does not have a monthly maintenance charge. Finding an institution with free checking as well as a high savings APY is the best option for gaining the most income on your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Bank of Pontiac features a savings rate of 0.07%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.80% and 2.12%, respectively, while its highest-yielding money market account has an APY of 0.20%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.
How Bank of Pontiac's Savings Rates Compare
On average, Bank of Pontiac charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Bank of Pontiac is ideal for those who want a basic checking account. Bank of Pontiac unfortunately does not reimburse out-of-network ATM fees, meaning you'll need to locate a Bank of Pontiac ATM or eat the cost of withdrawal.
Bank of Pontiac is a brick-and-mortar bank, with nine total bank locations in Illinois. With mobile and web apps, Bank of Pontiac makes mobile banking easy, even on the go. Bank of Pontiac gets fairly high praise from customers for its mobile banking services. Out of 9 customer reviews across both Apple and Android platforms, the Bank of Pontiac mobile app has an overall rating of 4.2 out of 5 (compared to the national average of 3.8). You can access Bank of Pontiac's mobile app to manage your funds by looking at account balances, sending and receiving funds and reaching support representatives. Bank of Pontiac gets an outstanding consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Bank of Pontiac is a medium-size bank and owns assets totaling $515 million as well as deposits totaling $439 million. It has a strong Texas Ratio of 5.35%, denoting 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
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 Bank of Pontiac to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.07% APY||$100|
|Checking Account||0.05% APY||$2500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.2% APY 0.2% APY||$10000 $15000|
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 taking a look 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 compared to other U.S. banks.Back to Overview
Find a Bank of Pontiac Near Me
Bank of Pontiac has nine physical locations across the U.S.Back to Overview