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Central Bank of St. Louis 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
Central Bank of St. Louis Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1902, Central Bank of St. Louis has assets totaling $2 billion and $1 billion in deposits, which makes the institution a large bank. Central Bank of St. Louis, whose headquarters are in Clayton, 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 in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4 out of 5 stars, Central Bank of St. Louis proves it is a respectable bank that deserves your consideration. Central Bank of St. Louis offers product offerings, including savings accounts, checking accounts, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account has a monthly fee of $3.00, which is acceptable in comparison to the average U.S. bank. Locating a bank with no-fee checking as well as a high savings APY is the best option for gaining the most income on your deposits while having convenient 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

2.8
SmartAsset Average: 3.5

With a savings rate of 0.07%, Central Bank of St. Louis ranks poorly compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.35% and 1.25%, respectively, while its highest-yielding money market account has a rate of 0.15%. Given Central Bank of St. Louis's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Central Bank of St. Louis's Savings Rates Compare

Central Bank of St. Louis Savings 0.07 National Average 0.26 Compare Offers
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Fees

4.4
SmartAsset Average: 4.4

Central Bank of St. Louis has typically low fees in comparison to the national average. At $3.00/month, Central Bank of St. Louis's checking account is less than ideal for those who want a hassle-free checking account. For those who will need cash in a pinch, Central Bank of St. Louis is ideal because it charges no out-of-network ATM fees. Central Bank of St. Louis unfortunately does not refund out-of-network ATM fees, meaning you'll be required to locate a Central Bank of St. Louis ATM or accept the withdrawal fee.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

Central Bank of St. Louis is a brick-and-mortar bank, with 16 total bank locations in Illinois and Missouri. It also offers access to mobile and web apps for easy access and banking on the go. Central Bank of St. Louis's online and mobile banking platforms get moderate marks from customers. Out of 850 customer reviews on both Apple and Android platforms, the Central Bank of St. Louis mobile app rates a 3.9 out of 5 (compared to the national average of 3.8). Central Bank of St. Louis's mobile app allows you to manage your accounts by monitoring monthly statements, sending and receiving funds and accessing support representatives. Central Bank of St. Louis gets a superb consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Central Bank of St. Louis ranks as a large bank and owns $2 billion in assets as well as deposits totaling $1 billion. Central Bank of St. Louis has a strong Texas Ratio of 5.65%, suggesting a tiny chance of failure. Additionally, Central Bank of St. Louis is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.65%
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 Central Bank of St. Louis to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $250
Checking Account 0.4% APY $1000
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.75% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Accounts 0.08% APY 0.15% APY $10000 $15000

Central Bank of St. Louis offers a basic array of deposit products like savings accounts and checking accounts. Central Bank of St. Louis 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. Central Bank of St. Louis's CD rates are fair as compared against the national average.

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Find a Central Bank of St. Louis Near Me

Central Bank of St. Louis has 16 branches across the U.S.

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