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Dieterich Bank Review

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Dieterich Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Dieterich Bank first started operating in 1909 and is headquartered in Dieterich, Illinois. It owns $638 million in assets and deposits totaling $548 million, classifying it as a medium-size bank. Dieterich Bank lacks premium access to customer service, 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, Dieterich Bank should be solidly in contention for your choice of bank. Dieterich Bank provides customers with a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Dieterich Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Dieterich Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking as well as a high interest rate savings account are the best option for accruing the highest income on your deposits while maintaining easy access to your money.

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

4.1
SmartAsset Average: 3.5

Dieterich Bank has a savings rate of 0.15%, which is poor compared to the national average. Dieterich Bank's one-year CD earns at a rate of 2.10% and the five-year CD earns at a rate of 2.72%, while its highest-yielding money market account has an APY of 0.20%. Given Dieterich Bank's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How Dieterich Bank's Savings Rates Compare

Dieterich Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Dieterich Bank charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, Dieterich Bank is perfect for people who want a basic banking experience. Dieterich Bank doesn't refund out-of-network ATM fees, meaning you'll need to locate a Dieterich Bank ATM or eat the fee.

Monthly Fee $0 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

3.2
SmartAsset Average: 3.7

Dieterich Bank is a brick-and-mortar bank, with nine total branches in Illinois. With mobile and web apps, Dieterich Bank makes mobile banking easy, even on the go. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:30 a.m. to 5:00 p.m. CT; Saturday, and 8:00 a.m. to 12:00 p.m. CT. Dieterich Bank receives inferior reviews from users for its online presence. The Dieterich Bank mobile app is rated at 2.5 out of 5 (out of 98 reviews on Apple and Android) compared to the national average of 3.8. Dieterich Bank's mobile app allows you to control your bank accounts by checking current statements, sending and receiving funds as well as reaching support representatives. Dieterich Bank gets a superb consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.3
SmartAsset Average: 4.8

Dieterich Bank ranks as a medium-size bank and manages $638 million in assets and $548 million in deposits. Dieterich Bank has a strong Texas Ratio of 15.90%, suggesting that Dieterich Bank is in good financial shape and improbable to fail. Additionally, Dieterich Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

15.9%
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 Dieterich Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 2.10% APY
  • 24 Month: 2.36% APY
  • 36 Month: 2.57% APY
  • 48 Month: 2.67% APY
  • 60 Month: 2.72% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.2% APY $10000 $15000

Dieterich Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Dieterich Bank 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. Dieterich Bank's CD rates are fair in comparison to the national average.

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Find a Dieterich Bank Near Me

Dieterich Bank has nine locations across the U.S.

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