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Bank of the Orient Review

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Bank of the Orient Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Bank of the Orient started in 1971 and is headquartered in San Francisco, California. It manages $737 million in assets as well as $632 million in deposits, making it a medium-size bank. Bank of the Orient lacks premium access to customer service, with no live chat or all-day service options available. 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. SmartAsset has rated Bank of the Orient 3.5 stars out of 5, suggesting it is an acceptable bank choice, but may leave you wanting more. Bank of the Orient provides customers with a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best option for gaining the most income on your deposits alongside convenient access to your funds.

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

Bank of the Orient has a savings rate of 0.25%, which is poor as compared against the national average. Its one-year CD earns at a rate of 0.20% and the five-year CD has a rate of 0.89%, while its highest-yielding money market account has a rate of 0.10%. Given Bank of the Orient's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Bank of the Orient's Savings Rates Compare

Bank of the Orient Savings 0.25 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 bank locations in California and Hawaii. It also offers access to mobile and web apps for straightforward access and banking on the go. You can use Bank of the Orient's app to control your bank accounts by checking current statements, transferring money as well as accessing customer service. Bank of the Orient receives an exceptional consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial 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

5.0
SmartAsset Average: 4.8

Bank of the Orient is currently a medium-size bank owning $737 million in assets as well as $632 million in deposits. Bank of the Orient has an excellent Texas Ratio of 1.71%, suggesting a minute chance 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 0.25% 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 like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Bank of the Orient 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 the Orient's CD rates are fair compared to the national average.

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Find a Bank of the Orient Near Me

Bank of the Orient has eight physical branches across the U.S.

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