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GNB Bank 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
GNB Bank Savings
0.09% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

GNB Bank first started operating in 1934 with its headquarters in Grundy Center, Iowa. It has $551 million in assets as well as $432 million in deposits, classifying it as a medium-size bank. GNB Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, GNB Bank is a solid contender in your bank search, with a rating of 4.4 out of 5 stars from the SmartAsset experts. GNB Bank offers an array product offerings, which include savings accounts, checking accounts, money market accounts, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, GNB Bank's ordinary checking account does not have a monthly fee. Locating 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 option for returning the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
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

GNB Bank features a savings rate of 0.09%, which is fair as compared against the national average. GNB Bank's CD rates are 0.97% and 2.37% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.27%. Given GNB Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How GNB Bank's Savings Rates Compare

GNB Bank Savings 0.09 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, GNB Bank charges its customers extremely low fees compared to the national average. With no monthly fee, GNB Bank's checking account is ideal for those who need an easy checking account. GNB Bank refunds any incurred out-of-network ATM charges, making withdrawals a free and straightforward process.

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

4.3
SmartAsset Average: 3.7

GNB Bank is a brick-and-mortar bank, with 11 total branches in Iowa. It also offers access to mobile and web apps for a simple mobile-banking experience. GNB Bank receives positive scores from customers for its mobile platform. The GNB Bank mobile app has been given a 4.7 out of 5 (with 14 customer reviews on Apple and Android) compared to the national average of 3.8. You can access GNB Bank's mobile app to control your accounts by reviewing current statements, transferring funds and reaching support representatives. GNB Bank gets an exceptional consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
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

GNB Bank ranks as a medium-size bank with $551 million in assets and $432 million in deposits. Its Texas Ratio is 1.19%, signifying that GNB Bank is in superb financial health and unlikely to fail. Additionally, GNB Bank 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 GNB Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.09% APY $1
Checking Account 0.06% APY $1
Certificates of Deposit
  • 12 Month: 0.97% APY
  • 24 Month: 1.37% APY
  • 36 Month: 1.52% APY
  • 48 Month: 2.25% APY
  • 60 Month: 2.37% APY
$1000 for all terms
Money Market Accounts 0.16% APY 0.27% APY $10000 $15000

GNB Bank offers several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. GNB 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. GNB Bank's CD rates are fair as compared against the national average.

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Find a GNB Bank Near Me

GNB Bank has 11 physical branches in the U.S.

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