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Fidelity Bank (LA) 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
Fidelity Bank Savings
0.10% APY

Overview

Our Rating: 4.3/5 How we calculated this rating

Fidelity Bank was founded in 1908 with its headquarters in New Orleans, Louisiana. It has assets totaling $815 million and $574 million in deposits, ranking it as a medium-size bank. Fidelity Bank has above-average customer service access with all-day support available, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank, which means in-person service, in addition to its online and mobile apps. With a commendable 4.3 stars out of 5, Fidelity Bank is a solid pick to be your bank. 

Fidelity Bank provides customers with a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product features a monthly fee of $5.00, which is not too bad in comparison to the average U.S. bank. Keeping both checking and savings accounts in one place is perfect for getting the highest interest rates on your money while keeping convenient access to your money.

Service Quality

Fidelity Bank is a brick-and-mortar bank, with 19 total bank locations in Louisiana. With mobile and web apps, Fidelity Bank makes mobile banking straightforward, even on the go. It provides all-day customer service. 

Fidelity Bank receives high marks from users for its online presence: with 420 ratings across iOS and Android platforms, the Fidelity Bank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). You can access Fidelity Bank's mobile app to control your funds by monitoring account balances, transferring funds as well as accessing customer service. Fidelity Bank gets an excellent consumer satisfaction score based on comparatively few complaints brought 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 0.10% APY $50 Compare Offers
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.15% APY
  • 36 Month: 1.35% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.50% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.10% APY
  • 25K tier: 0.15% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.25% APY $1 Compare Offers

Fidelity Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Fidelity 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. Fidelity Bank's CD rates are competitive in comparison to the average U.S. bank.

Rates

With a savings rate of 0.10%, Fidelity Bank ranks below the mean in comparison to the national average. Its one-year CD has a rate of 0.85% and the five-year CD has a rate of 1.50%, while its highest-yielding money market account earns at a rate of 0.15%. It has a fair savings rate compared to the average savings account. Consider looking at some of the competition to open savings accounts.

Compare Fidelity Bank to Other Competitive Offers

Fees

On average, Fidelity Bank charges customers low fees compared to the national average. At $5.00 per month, Fidelity Bank's checking account is not ideal for people who need a hassle-free checking account. For those who will need cash in a pinch, it is ideal because it offers no ATM fees. Also, at $35, Fidelity Bank has a lower overdraft fee compared to the average U.S. overdraft fee, making it good for those who take out money in significant amounts. 

Financial Health

Fidelity Bank is a medium-size bank with $815 million in assets as well as deposits totaling $574 million. Its Texas Ratio is 3.51%, indicating an extremely low chance of failure. Additionally, Fidelity Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Fidelity Bank Near Me

Fidelity Bank has 19 physical branches across the U.S.

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