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German American Bancorp Review

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

Overview

Established in 1910, German American Bancorp has assets totaling $3 billion as well as $3 billion in deposits, which makes it a large bank. German American Bancorp, whose headquarters are in Jasper, Indiana, has above-average access to customer service with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 3.9 stars out of 5, German American Bancorp should be near the middle of the pack in your search for a bank. German American Bancorp offers a variety of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account has a monthly fee of $5.00, which places it at the higher end of monthly fees. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is your best option for gaining the most income on your deposits while having easy 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 as compared against the national average. German American Bancorp's one-year CD has a rate of 0.85% and the five-year CD has a rate of 2.11%, while its highest-yielding money market account has a rate of 0.25%. Given German American Bancorp's poor savings rate, you should think about taking a look at other banks for savings accounts.

How German American Bancorp's Savings Rates Compare

German American Bancorp Savings 0.05 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

German American Bancorp charges its customers high fees as compared against the national average. Its checking account has a monthly fee of $5.00, rating it fair for anyone looking for a hassle-free account. German American Bancorp unfortunately does not reimburse out-of-network ATM charges, which means you will need to locate a German American Bancorp ATM or pay the cost of withdrawal.

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
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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. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its 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. German American Bancorp also offers a live chat feature, giving customers an easy access point throughout the day. German American Bancorp gets high praise from users for its mobile banking services. With 1,700 customer reviews across both Apple and Android platforms, the German American Bancorp mobile app is scored at 4.5 out of 5 (compared to the national average of 3.8). You can use German American Bancorp's mobile app to manage your funds by monitoring current statements, sending and receiving funds and reaching support representatives. German American Bancorp gets an excellent consumer satisfaction rating based on relatively few complaints filed with 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
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Financial Health

4.9
SmartAsset Average: 4.8

German American Bancorp is a large bank owning $3 billion in assets as well as deposits totaling $3 billion. Its Texas Ratio is 3.23%, indicating a negligible likelihood 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.

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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: 0.85% APY
  • 24 Month: 1.20% APY
  • 36 Month: 1.40% APY
  • 48 Month: 1.86% APY
  • 60 Month: 2.11% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

German American Bancorp offers several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. German American Bancorp does not have the best savings rate, which means you should think about other options 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 in comparison to the national average.

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Find a German American Bancorp Near Me

German American Bancorp has 57 physical branches across the U.S.

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