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BNA Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
BNA Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

BNA Bank started in 1896 with its headquarters in New Albany, Mississippi. It has assets of $506 million along with deposits totaling $421 million, classifying it as a medium-size bank. BNA Bank lacks premium access to customer service, 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 apps. Coming in at a poor 3.3 stars out of 5, BNA Bank proves it is a fair bank that you should further examine to see if it fits your needs. BNA Bank offers the complete package of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a $5.00 monthly fee, which places it at the higher end of monthly fees. Locating a bank with no-fee checking, in addition to a high interest rate savings account is the best bet for gaining the highest income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.3/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.1
SmartAsset Average: 3.5

BNA Bank has a savings rate of 0.30%, which is poor as compared against the national average. BNA Bank's CDs feature a rate of 1.25% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.25%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How BNA Bank's Savings Rates Compare

BNA Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

BNA Bank typically has high fees in comparison to the average U.S. bank. At $5.00 per month, BNA Bank's checking account is not ideal for people who need a hassle-free checking account. BNA Bank does not reimburse out-of-network ATM fees, meaning you will be required to find a BNA Bank ATM or pay the fee.

Monthly Fee $5.00 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

BNA Bank is a brick-and-mortar bank, with six total branches in Mississippi. With a mobile app, BNA Bank provides straightforward account access, even from home or work. BNA Bank receives an excellent consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government 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

4.4
SmartAsset Average: 4.8

BNA Bank ranks as a medium-size bank with assets totaling $506 million and $421 million in deposits. BNA Bank's Texas Ratio is 12.56%, denoting a tiny chance of failure. Additionally, BNA Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

12.56%
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 BNA Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.25% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.60% APY
  • 48 Month: 2.75% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.25% APY $10000 $15000

BNA Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. BNA Bank does not have the best savings rate, which means you should consider 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. BNA Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a BNA Bank Near Me

BNA Bank has six physical locations in the U.S.

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