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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

Founded in 1909, Dieterich Bank has $638 million in assets as well as deposits totaling $548 million, making it a medium-size bank. Dieterich Bank, whose headquarters are in Dieterich, Illinois, lacks premium access to customer service, 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 offerings. On the whole, Dieterich Bank is a solid pick to be your bank, with a rating of 4.2 out of 5 stars from the SmartAsset experts. Dieterich Bank provides customers with a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Dieterich Bank's standard checking account does not have a monthly fee. Institutions that offer no-fee checking as well as a high savings APY are your best bet for accruing the most income from your deposits while having 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

With a savings rate of 0.15%, Dieterich Bank ranks poorly compared to the average U.S. bank. Dieterich Bank's one-year CD earns at a rate of 2.06% and the five-year CD earns at a rate of 2.72%, while its highest-yielding money market account earns at an APY of 0.20%. Given Dieterich Bank's noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

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 has generally extremely low fees compared to the average U.S. bank. With no monthly fee, Dieterich Bank's checking account is ideal for those who want an easy banking experience. Dieterich Bank doesn't reimburse out-of-network ATM fees, which means you will be required to search for 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 bank locations in Illinois. It also offers access to mobile and web apps for a straightforward mobile-banking experience. 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's online and mobile banking services get poor feedback from users. With 98 ratings on both Apple and Android platforms, the Dieterich Bank mobile app is scored at 2.5 out of 5 (compared to the national average of 3.8). You can use Dieterich Bank's app to manage your bank accounts by monitoring monthly statements, sending and receiving funds as well as accessing support representatives. Dieterich Bank gets a superb consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government 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 is currently a medium-size bank with assets totaling $638 million as well as deposits totaling $548 million. Dieterich Bank's Texas Ratio is 15.90%, suggesting a tiny possibility of failure. 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: 2.06% 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 Account 0.15% APY $1

Dieterich Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Dieterich Bank does not have the best savings rate, which means you should think about 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. 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 in the U.S.

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