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

Overview

Started in 1909, Denmark State Bank has $462 million in assets and $402 million in deposits, which makes the institution a medium-size bank. Denmark State Bank, whose headquarters are in Denmark, Wisconsin, 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. At a SmartAsset rating of 4.2 out of 5 stars, Denmark State Bank should be solidly in contention for your choice of bank. Denmark State Bank provides customers with a mixture of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is your best bet for accruing the most income from your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.5
SmartAsset Average: 3.5

With a savings rate of 0.05%, Denmark State Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.55% and 2.60%, respectively, while its highest-yielding money market account earns at an APY of 0.39%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Denmark State Bank's Savings Rates Compare

Denmark State Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Denmark State Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

4.1
SmartAsset Average: 3.7

Denmark State Bank is a brick-and-mortar bank, with six total bank locations in Wisconsin. It also offers access to mobile and web apps for straightforward access and banking on the go. Denmark State Bank's online and mobile banking platforms receive relatively satisfactory feedback from customers. Out of 16 ratings across iOS and Android platforms, the Denmark State Bank mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). Denmark State Bank's mobile app allows you to control your funds by monitoring account balances, transferring money as well as reaching support representatives. Denmark State Bank gets an excellent consumer satisfaction rating due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Denmark State Bank is a medium-size bank owning assets totaling $462 million and deposits totaling $402 million. Denmark State Bank's Texas Ratio is 2.15%, signifying a negligible probability of failure. Additionally, Denmark 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

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 Denmark State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $200
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.55% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.60% APY
$500 for all terms
Money Market Accounts 0.26% APY 0.39% APY $10000 $15000

Denmark State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Denmark State Bank 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. Denmark State Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Denmark State Bank Near Me

Denmark State Bank has six physical locations in the U.S.

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