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Bank of Sun Prairie Review

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

Overview

Founded in 1903, Bank of Sun Prairie has assets totaling $385 million along with deposits totaling $303 million, ranking it as a small bank. Bank of Sun Prairie, whose headquarters are in Sun Prairie, Wisconsin, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset experts rated Bank of Sun Prairie 4.1 out of 5 stars, suggesting it is a respectable bank that warrants your consideration. Bank of Sun Prairie provides customers with a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Bank of Sun Prairie's most basic checking account does not carry a monthly fee. Using a bank with free checking and a high savings APY is the best bet for gaining the highest income on your deposits alongside convenient access to your funds.

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

3.0
SmartAsset Average: 3.5

Bank of Sun Prairie has a savings rate of 0.07%, which is fair as compared against the national average. Its CDs feature a rate of 0.50% and 1.35% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given Bank of Sun Prairie's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Bank of Sun Prairie's Savings Rates Compare

Bank of Sun Prairie Savings 0.07 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Bank of Sun Prairie typically has extremely low fees compared to the average U.S. bank. With no monthly fee, Bank of Sun Prairie's checking account is ideal for those who want an easy checking account. Bank of Sun Prairie doesn't refund out-of-network ATM charges, meaning you will need to find a Bank of Sun Prairie ATM or accept 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

3.5
SmartAsset Average: 3.7

Bank of Sun Prairie is a brick-and-mortar bank, with four total bank locations in Wisconsin. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Bank of Sun Prairie receives inferior reviews from customers for its mobile app. With 17 customer reviews on both Apple and Android platforms, the Bank of Sun Prairie mobile app rates a 3.2 out of 5 (compared to the national average of 3.8). You can utilize Bank of Sun Prairie's app to manage your bank accounts by checking account balances, transferring funds as well as accessing customer service. Bank of Sun Prairie receives a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Bank of Sun Prairie is a small bank with assets totaling $385 million as well as deposits totaling $303 million. Its Texas Ratio is 4.05%, denoting a negligible possibility of failure. Additionally, Bank of Sun Prairie is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.05%
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 Sun Prairie to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $100
Checking Account 0.04% APY $100
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.65% APY
  • 36 Month: 0.85% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.35% APY
$500 for all terms
Money Market Accounts 0.2% APY 0.2% APY $10000 $15000

Bank of Sun Prairie has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Sun Prairie 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 Sun Prairie's CD rates are fair compared to other U.S. banks.

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Find a Bank of Sun Prairie Near Me

Bank of Sun Prairie has four physical locations in the U.S.

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