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DeMotte State Bank Review

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DeMotte State Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


DeMotte State Bank first started operating in 1942 and is headquartered in Demotte, Indiana. It handles assets of $405 million along with $316 million in deposits, ranking it as a small bank. DeMotte State Bank 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 offerings. Overall, DeMotte State Bank is a good bank that deserves your consideration, with a score of 4.0 stars out of 5 from the SmartAsset experts. DeMotte State Bank offers an array product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. DeMotte State Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking does not have a monthly charge. 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 maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, DeMotte State Bank ranks poorly compared to the national average. Its one-year CD earns at a rate of 0.70% and the five-year CD earns at a rate of 1.76%, while its highest-yielding money market account earns at an APY of 0.05%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How DeMotte State Bank's Savings Rates Compare

DeMotte State Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

DeMotte State Bank charges customers average fees compared to the average U.S. bank. DeMotte State Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who will need cash in a pinch, DeMotte State Bank is fair because it charges an out-of-network ATM fee of $2.00, which is reasonable in comparison to other U.S. banks. Also, DeMotte State Bank has an overdraft fee of $35.00, which is on par with the national average overdraft fee. DeMotte State Bank does not refund out-of-network ATM charges, which means you'll be required to search for a DeMotte State Bank ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

DeMotte State Bank is a brick-and-mortar bank, with 11 total branches in Indiana. With mobile and web apps, DeMotte State Bank makes mobile banking convenient, even on the go. DeMotte State Bank gets positive ratings from customers for its mobile platform. Out of 7 customer reviews across Apple and Android platforms, the DeMotte State Bank mobile app has an overall rating of 4.7 out of 5 (compared to the national average of 3.8). DeMotte State Bank's mobile app lets you control your bank accounts by checking account balances, sending and receiving money and reaching support representatives. DeMotte State Bank gets an excellent consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

DeMotte State Bank is a small bank with $405 million in assets and $316 million in deposits. DeMotte State Bank has a strong Texas Ratio of 15.88%, indicating that DeMotte State Bank is in good financial health and improbable to fail. Additionally, DeMotte State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 DeMotte State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $5
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.76% APY
$500 for all terms
Money Market Account 0.05% APY $2500

DeMotte State Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. DeMotte State Bank does not have the best savings rate, which means you should consider looking 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. DeMotte State Bank's CD rates are fair in comparison to the national average.

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Find a DeMotte State Bank Near Me

DeMotte State Bank has 11 physical locations in the U.S.

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