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Central Bank of The Ozarks 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 The Ozarks Savings
0.02% APY

Overview

Our Rating: 4.2/5 How we calculated this rating

Started in 1956, Central Bank of The Ozarks has $1 billion in assets along with deposits totaling $1 billion, ranking it as a medium-size bank. Central Bank of The Ozarks, whose headquarters are in Springfield, Missouri, 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 access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 4.2 out of 5 stars, Central Bank of The Ozarks should be solidly in contention for your choice of bank. 

Central Bank of The Ozarks has a complete suite of product offerings, which include savings accounts, checking accounts, IRAs, mortgage products and credit cards. Central Bank of The Ozarks has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Central Bank of The Ozarks's standard checking account does not have a monthly fee. Why keep checking and savings accounts with one bank? Quick transferring of funds between the two accounts translates to better interest rates in your savings account with the option of spending from your checking.

Service Quality

Central Bank of The Ozarks is a brick-and-mortar bank, with 22 total bank locations in Missouri. It also offers access to mobile and web apps for a straightforward mobile-banking experience.  

Central Bank of The Ozarks gets moderate marks from customers for its mobile app: the Central Bank of The Ozarks mobile app has an overall rating of 3.9 out of 5 (with 800 customer reviews on Apple and Android) compared to the national average of 3.8. Central Bank of The Ozarks's mobile app lets you manage your accounts by looking at account balances, sending and receiving money as well as accessing customer service. Central Bank of The Ozarks gets a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.02% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.35% APY
  • 48 Month: 0.40% APY
  • 60 Month: 0.45% APY
$10,000 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.02% APY $1,000 Compare Offers
Checking Accounts 0.01% APY $1,000 Compare Offers

Central Bank of The Ozarks has several deposit products including savings accounts and checking accounts, giving you many options to manage your money. It does not have the best savings rate, which means you should think about taking a look elsewhere for banks that offer 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 The Ozarks's CD rates are fair in comparison to the average U.S. bank. 

Rates

With a savings rate of 0.02%, Central Bank of The Ozarks ranks below the mean compared to other U.S. banks. Central Bank of The Ozarks's one-year and five-year term lengths CD's earn at a rate of 0.25% and 0.45%, respectively, while its highest-yielding money market account earns at a rate of 0.02%. Given Central Bank of The Ozarks's below average savings rate, you should consider looking elsewhere to open savings accounts.

Compare Central Bank of The Ozarks to Other Competitive Offers

Fees

Central Bank of The Ozarks has typically extremely low fees in comparison to the national average. With no monthly fee, Central Bank of The Ozarks is ideal for those who want a simple banking experience. Central Bank of The Ozarks unfortunately doesn't reimbursee ATM charges meaning you will have to find a Central Bank of The Ozarks ATM or pay the withdrawal fee.

Financial Health

Central Bank of The Ozarks is currently a medium-size bank with assets totaling $1 billion as well as $1 billion in deposits. Central Bank of The Ozarks has an excellent Texas Ratio of 3.06%, signifying an extremely small chance of failure. Additionally, Central Bank of The Ozarks is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Central Bank of The Ozarks Near Me

Central Bank of The Ozarks has 22 physical locations in the U.S.

 

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