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BNA Bank Review

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BNA Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1896, BNA Bank has $506 million in assets along with deposits totaling $421 million, which makes the institution a medium-size bank. BNA Bank, whose headquarters are in New Albany, Mississippi, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, BNA Bank is a satisfactory bank that you should further examine to see if it fits your needs, with a rating of 3.3 out of 5 stars from the SmartAsset team. BNA Bank has a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. BNA Bank has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a monthly fee of $5.00, although banks sometimes have requirements that allow you to waive the fee. Finding a bank with free checking, in addition to a high savings APY is your best option for accruing the most income on your deposits alongside easy 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 0.20%, which is fair compared to the average U.S. bank. BNA Bank's one-year and five-year term lengths CDs earn at a rate of 0.65% and 1.35%, respectively, while its highest-yielding money market account has a rate of 0.15%. Given BNA Bank's poor savings rate, you should think about choosing another bank to earn more on your deposits.

How BNA Bank's Savings Rates Compare

BNA Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

BNA Bank has typically high fees compared to the national average. Its checking account has a monthly fee of $5.00, which makes it fair for anyone looking for a simple account. BNA Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you will need to search for 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. It also offers access to a web app, for a simple online-banking experience. BNA Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints brought to 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 is currently a medium-size bank with assets totaling $506 million as well as $421 million in deposits. BNA Bank's Texas Ratio is 12.56%, indicating a small 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 0.2% APY $1
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.35% APY
  • 48 Month: 2.50% APY
  • 60 Month: 1.35% APY
$10000 for all terms
Money Market Account 0.1% APY $10000

BNA Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you 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 branches across the U.S.

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