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BankLiberty Review

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BankLiberty Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1955, BankLiberty has $458 million in assets as well as $368 million in deposits, which makes the institution a medium-size bank. BankLiberty, whose headquarters are in Kansas City, Missouri, lacks premium access to customer service, 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 apps. At a SmartAsset rating of 4 out of 5 stars, BankLiberty should be near the middle of the pack in your search for a bank. BankLiberty offers a varied choice of product offerings, including savings accounts, checking accounts, money market accounts and CDs. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's most basic checking does not have a monthly fee. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best bet for returning the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
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

BankLiberty has a savings rate of 0.10%, which is fair as compared against the national average. Its one-year CD has a rate of 0.40% and the five-year CD has a rate of 1.50%, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How BankLiberty's Savings Rates Compare

BankLiberty Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, BankLiberty charges customers extremely low fees in comparison to the national average. With no monthly fee, BankLiberty's checking account is perfect for people who need a hassle-free banking experience. BankLiberty unfortunately does not refund out-of-network ATM fees, which means you'll be required to find a BankLiberty 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

3.6
SmartAsset Average: 3.7

BankLiberty is a brick-and-mortar bank, with 14 total bank locations in Missouri. With mobile and web apps, BankLiberty makes account access convenient, even on the go. BankLiberty's online and mobile banking platforms get mediocre scores from customers. With 57 customer reviews across iOS and Android platforms, the BankLiberty mobile app is scored at 3.4 out of 5 (compared to the national average of 3.8). BankLiberty's mobile app lets you control your bank accounts by looking at monthly statements, transferring money as well as reaching customer service. BankLiberty gets a superb consumer satisfaction rating based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

BankLiberty is currently a medium-size bank and manages assets totaling $458 million and $368 million in deposits. It has a strong Texas Ratio of 10.91%, denoting that the bank is in fine financial shape and improbable to fail. Additionally, BankLiberty is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.91%
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 BankLiberty to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $10
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.75% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.50% APY
$500 for all terms
Money Market Account 0.1% APY $25000

BankLiberty has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. BankLiberty does not have the best savings rate, which means you should think about other options 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. BankLiberty's CD rates are fair in comparison to other U.S. banks.

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Find a BankLiberty Near Me

BankLiberty has 14 locations across the U.S.

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