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Bank of the Orient Review

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Bank of the Orient Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Bank of the Orient was founded in 1971 and its headquarters are located in San Francisco, California. It manages assets of $737 million and deposits totaling $632 million, which makes it a medium-size bank. Bank of the Orient 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 apps. SmartAsset has rated Bank of the Orient 3.5 stars out of 5, indicating that it is a decent bank that leaves room for improvement. Bank of the Orient provides customers with a complete selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate; other popular banks have higher rates. Banks that offer free checking, in addition to a high savings APY are your best option for accruing the highest income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
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

With a savings rate of 0.15%, Bank of the Orient ranks poorly as compared against the national average. Its one-year CD earns at a rate of 0.20% and the five-year CD earns at a rate of 0.89%, while its highest-yielding money market account earns at a rate of 0.10%. Given Bank of the Orient's poor savings rate, you should think about taking a look at other banks for savings accounts.

How Bank of the Orient's Savings Rates Compare

Bank of the Orient Savings 0.15 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Bank of the Orient'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

2.5
SmartAsset Average: 3.7

Bank of the Orient is a brick-and-mortar bank, with eight total branches in California and Hawaii. It also offers access to mobile and web apps for an easy mobile-banking experience. Bank of the Orient's mobile app lets you control your finances by checking current statements, sending and receiving funds as well as reaching support representatives. Bank of the Orient receives an excellent consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed 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

5.0
SmartAsset Average: 4.8

Bank of the Orient is a medium-size bank with assets totaling $737 million and deposits totaling $632 million. Its Texas Ratio is 1.71%, suggesting a negligible possibility of failure. Additionally, Bank of the Orient 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.

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Compare Bank of the Orient to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $2500
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.70% APY
  • 48 Month: 0.89% APY
  • 60 Month: 0.89% APY
$1000 for all terms
Money Market Account 0.1% APY $25000

Bank of the Orient 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 the Orient does not have the best savings rate, which means you should consider 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 the Orient's CD rates are fair in comparison to other U.S. banks.

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Find a Bank of the Orient Near Me

Bank of the Orient has eight branches in the U.S.

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