Overview
Our Rating: 4.2/5 How we calculated this rating hereEl Dorado Savings Bank was founded in 1956 and its headquarters are located in Placerville, California. It has assets totaling $2.45 billion and deposits totaling $2.14 billion, ranking it as a large bank. El Dorado Savings Bank does not have the access to customer service other banks offer. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. With a score of 4.2 out of 5 stars, El Dorado Savings Bank should be solidly in contention for your choice of bank.
El Dorado Savings Bank has a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. El Dorado Savings Bank has a fair savings rate, which means you can find higher rates with other banks. Perfect for basic banking needs, El Dorado Savings Bank offers one without a monthly fee. Why use checking and savings accounts with the same bank? Convenient transferring of funds between the two accounts translates to better interest rates in your savings account with the ability to spend from your checking.
Service Quality
El Dorado Savings Bank is a brick-and-mortar bank, with 35 total bank locations in California and Nevada. It also offers access to mobile and web apps for a straightforward mobile-banking experience.
El Dorado Savings Bank's online and mobile banking platforms get reasonably positive scores from customers: the El Dorado Savings Bank mobile app has an overall rating of 3.6 out of 5 (out of 83 customer reviews on Apple and Android) compared to the national average of 3.8. El Dorado Savings Bank's mobile app lets you manage your accounts by monitoring account balances, transferring funds as well as accessing customer service. El Dorado Savings Bank receives an exceptional consumer satisfaction score based on relatively few complaints reported to 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 | 0.03% APY | $300 | Compare Offers |
| Certificates of Deposit |
| $500 for all tiers | Compare Offers |
| Money Market Accounts |
| $5,000 | Compare Offers |
| Checking Accounts | 0.02% APY | $500 | Compare Offers |
El Dorado Savings Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. El Dorado Savings Bank does not have the best savings rate, which means you should consider other options 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. El Dorado Savings Bank's CD rates are competitive in comparison to other U.S. banks.
Rates
With a savings rate of 0.03%, El Dorado Savings Bank ranks below the mean in comparison to the average U.S. bank. Its one-year CD earns at a rate of 0.20% and the five-year CD earns at a rate of 0.90%, while its highest-yielding money market account earns at a rate of 0.10%. It has a fair savings rate compared to the average savings account. Think about other options to earn more on your deposits.
Compare El Dorado Savings Bank to Other Competitive Offers
Fees
El Dorado Savings Bank typically has extremely low fees in comparison to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account.
Financial Health
El Dorado Savings Bank is a large bank with $2.45 billion in assets and $2.14 billion in deposits. El Dorado Savings Bank has an excellent Texas Ratio of 0.44%, indicating an extremely low possibility of failure. Additionally, El Dorado Savings Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.
Find an El Dorado Savings Bank Near Me
El Dorado Savings Bank has 35 physical branches across the U.S.
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