Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

German American Bancorp Review

Your Details Done
by Updated
German American Bancorp Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1910, German American Bancorp has $3 billion in assets along with deposits totaling $3 billion, classifying the institution as a large bank. German American Bancorp, whose headquarters are in Jasper, Indiana, has above-average customer service access with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 3.9 out of 5 stars, German American Bancorp should be near the middle of the pack in your search for a bank. German American Bancorp has a choice of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account carries a monthly fee of $5.00, making it a rather costly bank for checking. Banks that offer free checking and a high savings APY are your best bet for getting the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

German American Bancorp has a savings rate of 0.05%, which is fair compared to other U.S. banks. German American Bancorp's one-year CD earns at a rate of 0.75% and the five-year CD has a rate of 2.01%, while its highest-yielding money market account has a rate of 0.10%. Given German American Bancorp's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How German American Bancorp's Savings Rates Compare

German American Bancorp Savings 0.05 National Average 0.26 Compare Offers
Back to Overview

Fees

3.0
SmartAsset Average: 4.4

German American Bancorp charges its customers high fees in comparison to the national average. At $5.00 per month, German American Bancorp's checking account is not great for those who want an easy banking experience. German American Bancorp does not refund out-of-network ATM fees, which means you will have to locate a German American Bancorp ATM or eat the withdrawal fee.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

4.5
SmartAsset Average: 3.7

German American Bancorp is a brick-and-mortar bank, with 57 total branches in Indiana and Kentucky. With mobile and web apps, German American Bancorp makes mobile banking easy, even on the go. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Thursday, 8:00 a.m. to 6:00 p.m. ET; Friday, 8:00 a.m. to 6:30 p.m. ET; Saturday, and 8:00 a.m. to 1:00 p.m. ET. Additionally, German American Bancorp offers a live chat feature, something to consider if you work during the customer service hours. German American Bancorp receives high marks from customers for its mobile platform. The German American Bancorp mobile app is rated at 4.5 out of 5 (with 1,700 reviews on Apple and Android) compared to the national average of 3.8. German American Bancorp's mobile app lets you control your funds by looking at account balances, sending and receiving funds and accessing customer service. German American Bancorp gets a superb consumer satisfaction score based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

German American Bancorp ranks as a large bank and owns $3 billion in assets as well as $3 billion in deposits. German American Bancorp has an excellent Texas Ratio of 3.23%, signifying a low probability of failure. Additionally, German American Bancorp is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.23%
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.

Back to Overview

Compare German American Bancorp to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $300
Checking Account 0.05% APY $5000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.10% APY
  • 36 Month: 1.30% APY
  • 48 Month: 1.76% APY
  • 60 Month: 2.01% APY
$1000 for all terms
Money Market Account 0.1% APY $10000

German American Bancorp has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. German American Bancorp does not have the best savings rate, which means you should consider 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. German American Bancorp's CD rates are fair compared to the national average.

Back to Overview

Find a German American Bancorp Near Me

German American Bancorp has 57 locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure