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Central Bank of St. Louis Review

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Central Bank of St. Louis Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Central Bank of St. Louis was founded in 1902 and is headquartered in Clayton, Missouri. It handles assets of $2 billion and $1 billion in deposits, ranking it as a large bank. Central Bank of St. Louis lacks premium access to support representatives, with no options for live chat or all-day service. 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. With a score of 4 out of 5 stars, Central Bank of St. Louis should be near the middle of the pack in your search for a bank. Central Bank of St. Louis offers the basic package of banking products, which include 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 product carries a monthly fee of $3.00, which is acceptable in comparison to other U.S. banks. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best bet for gaining the most income from your deposits while maintaining easy access to your funds.

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

Central Bank of St. Louis features a savings rate of 0.05%, which is poor in comparison to the average U.S. bank. Central Bank of St. Louis's CD rates are 0.20% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.15%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

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

Central Bank of St. Louis Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.4
SmartAsset Average: 4.4

Central Bank of St. Louis typically has low fees in comparison to the national average. Its checking account has a monthly fee of $3.00, ranking it slightly worse for anyone looking for a simple account. For those who will need cash in a pinch, Central Bank of St. Louis is perfect because it charges no out-of-network ATM fees. Central Bank of St. Louis unfortunately does not reimburse out-of-network ATM charges, meaning you will have to find a Central Bank of St. Louis ATM or eat 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 a straightforward mobile-banking experience. Central Bank of St. Louis's online and mobile banking services receive moderate marks from customers. With 850 ratings on both iOS and Android platforms, the Central Bank of St. Louis mobile app is scored at 3.9 out of 5 (compared to the national average of 3.8). Central Bank of St. Louis's mobile app lets you control your bank accounts by looking at account balances, sending and receiving money as well as reaching support representatives. Central Bank of St. Louis gets an outstanding consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 is currently a large bank owning $2 billion in assets and deposits totaling $1 billion. Central Bank of St. Louis's Texas Ratio is 5.65%, signifying that the bank is in fine financial well-being and unlikely to fail. 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 0.05% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.50% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.08% APY $10000

Central Bank of St. Louis has 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 consider taking a look 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. Central Bank of St. Louis's CD rates are fair compared to the average U.S. bank.

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Find a Central Bank of St. Louis Near Me

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

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