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Great Plains National Bank Review

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Great Plains National Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Great Plains National Bank was founded in 1996 and has its headquarters in Elk City, Oklahoma. It has assets of $629 million as well as deposits totaling $504 million, classifying it as a medium-size bank. Great Plains National Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.3 out of 5 stars, Great Plains National Bank proves it is a solid pick to be your bank. Great Plains National Bank has a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Great Plains National Bank offers an option without a monthly fee. Locating a bank with no-fee checking as well as a high savings APY is your best bet for returning the highest income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.4
SmartAsset Average: 3.5

With a savings rate of 0.35%, Great Plains National Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.76% and 2.43%, respectively, while its highest-yielding money market account has a rate of 0.60%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Great Plains National Bank's Savings Rates Compare

Great Plains National Bank Savings 0.35 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Great Plains National Bank charges customers extremely low fees compared to other U.S. banks. With no monthly fee, Great Plains National Bank is perfect for those who want a simple banking experience. Additionally, at $30.00, Great Plains National Bank has a significantly lower overdraft fee compared to that of other U.S. banks. Great Plains National Bank unfortunately doesn't refund out-of-network ATM fees, meaning you'll be required to find a Great Plains National Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

3.1
SmartAsset Average: 3.7

Great Plains National Bank is a brick-and-mortar bank, with 21 total branches in Oklahoma and Texas. It also offers access to mobile and web apps for simple access and banking on the go. Great Plains National Bank gets unsatisfactory marks from customers for its online presence. The Great Plains National Bank mobile app is rated at 2.4 out of 5 (with 28 reviews on iOS and Android) compared to the national average of 3.8. You can use Great Plains National Bank's mobile app to control your accounts by looking at account balances, sending and receiving money as well as accessing support representatives. Great Plains National Bank receives an excellent consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Great Plains National Bank is currently a medium-size bank owning assets totaling $629 million and deposits totaling $504 million. It has a strong Texas Ratio of 6.09%, indicating a small likelihood of failure. Additionally, Great Plains National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.09%
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 Great Plains National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $1
Checking Account 0.2% APY $50
Certificates of Deposit
  • 12 Month: 1.76% APY
  • 24 Month: 1.92% APY
  • 36 Month: 2.17% APY
  • 48 Month: 2.27% APY
  • 60 Month: 2.43% APY
$1000 for all terms
Money Market Account 0.5% APY $10001

Great Plains National Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Great Plains National Bank does not have the best savings rate, which means you should think about looking 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. Great Plains National Bank's CD rates are fair in comparison to the national average.

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Find a Great Plains National Bank Near Me

Great Plains National Bank has 21 locations across the U.S.

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