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Finance Factors 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
Finance Factors Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Finance Factors Bank was founded in 1952 with headquarters in Honolulu, Hawaii. It manages $566 million in assets and deposits totaling $465 million, classifying it as a medium-size bank. Finance Factors lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, Finance Factors is an acceptable bank choice, but may leave you wanting more, with a rating of 3.8 stars out of 5 from our team. Finance Factors offers the basic package of product offerings, which include savings accounts, CDs, IRAs and mortgage products. Finance Factors has a fair savings rate; other popular banks have higher rates. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best option for accruing the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.9
SmartAsset Average: 3.5

With a savings rate of 0.20%, Finance Factors ranks poorly in comparison to the national average. Finance Factors's one-year CD has a rate of 1.50%, while its highest-yielding money market account earns at a rate of 0.20%. Given Finance Factors's poor savings rate, you should think about looking at the competition to open savings accounts.

How Finance Factors's Savings Rates Compare

Finance Factors Savings 0.20 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Finance Factors's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

2.5
SmartAsset Average: 3.7

Finance Factors Bank is a brick-and-mortar bank, with 13 total bank locations in and Hawaii. It also offers access to a web app, for a straightforward online-banking experience. Finance Factors receives a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

5.0
SmartAsset Average: 4.8

Finance Factors is currently a medium-size bank and manages $566 million in assets and $465 million in deposits. Finance Factors's Texas Ratio is 1.35%, indicating a minute probability of failure. Additionally, Finance Factors is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Finance Factors to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1000
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.60% APY
  • 36 Month: 1.60% APY
  • 48 Month: 1.75% APY
$1 for all terms
Money Market Accounts 0.2% APY 0.2% APY $10000 $15000

Finance Factors Bank has a basic array of deposit products like savings accounts and CDs. Finance Factors 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. Finance Factors's CD rates are fair as compared against the national average.

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Find a Finance Factors Near Me

Finance Factors has 13 branches in the U.S.

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