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Fidelity Bank Review

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

Overview

Founded in 1974, Fidelity Bank has $5 billion in assets as well as $4 billion in deposits, classifying it as a large bank. Fidelity Bank, whose headquarters are in Atlanta, Georgia, 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, Fidelity Bank is a great choice and should warrant serious consideration, with a rating of 4.2 out of 5 stars from the SmartAsset experts. Fidelity Bank has the complete slate 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; other popular banks have higher rates. If you're interested in stress-free personal checking, Fidelity Bank's standard checking account does not have a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best bet for gaining the most income on 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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.15%, Fidelity Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD has a rate of 0.50% and the five-year CD earns at a rate of 1.10%, while its highest-yielding money market account has an APY of 0.20%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Fidelity Bank's Savings Rates Compare

Fidelity Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Fidelity Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, Fidelity Bank's checking account is ideal for people who want a hassle-free banking experience. Fidelity Bank unfortunately doesn't refund out-of-network ATM charges, which means you'll need to find a Fidelity Bank ATM or accept the withdrawal 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

4.0
SmartAsset Average: 3.7

Fidelity Bank is a brick-and-mortar bank, with 69 total branches in Florida and Georgia. With mobile and web apps, Fidelity Bank makes mobile banking convenient, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 7:00 p.m. ET; Saturday, 9:00 a.m. to 5:00 p.m. ET; Sunday, and 10:00 a.m. to 5:00 p.m. ET. Fidelity Bank's online and mobile banking services receive fairly positive ratings from users. The Fidelity Bank mobile app has been given a 4.1 out of 5 (with 810 customer reviews on Apple and Android) compared to the national average of 3.8. Fidelity Bank's mobile app lets you control your bank accounts by monitoring account balances, sending and receiving money as well as accessing customer service. Fidelity Bank gets a superb consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Fidelity Bank is a large bank with $5 billion in assets and $4 billion in deposits. Fidelity Bank's Texas Ratio is 8.68%, denoting that the bank is in fine financial health and far from failure. Additionally, Fidelity Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.68%
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 Fidelity 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 $2500
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.05% APY
  • 60 Month: 1.10% APY
$500 for all terms
Money Market Account 0.15% APY $1

Fidelity Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Fidelity Bank does not have the best savings rate, which means you should think about 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. Fidelity Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Fidelity Bank Near Me

Fidelity Bank has 69 branches across the U.S.

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