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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 first started operating in 1996 and its headquarters are located in Elk City, Oklahoma. Great Plains National Bank handles assets of $629 million and deposits totaling $504 million, classifying it as a medium-size bank. Great Plains National Bank lacks premium access to support representatives, with no live chat or all-day service options available. 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. Overall, Great Plains National Bank is a solid contender in your bank search, with a score of 4.3 out of 5 stars from the SmartAsset experts. Great Plains National Bank offers a complete array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Great Plains National Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Great Plains National Bank's most basic checking account does not have a monthly charge. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for gaining the most income from your deposits while having 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 in comparison to the national average. Great Plains National Bank's 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 0.50%. Given Great Plains National Bank's 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

Great Plains National Bank typically has extremely low fees compared to other U.S. banks. Great Plains National Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Also, at $30.00, Great Plains National Bank has a noticeably lower overdraft fee compared to the national average. Great Plains National Bank unfortunately does not reimburse out-of-network ATM fees, which means you'll need to search for a Great Plains National Bank ATM or eat the cost of withdrawal.

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. With mobile and web apps, Great Plains National Bank makes mobile banking easy, even on the go. Great Plains National Bank receives poor marks from customers for its mobile platform. Out of 28 customer reviews on both Apple and Android platforms, the Great Plains National Bank mobile app rates a 2.4 out of 5 (compared to the national average of 3.8). You can use Great Plains National Bank's mobile app to control your finances by checking account balances, sending and receiving funds and accessing customer service. Great Plains National Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 ranks as a medium-size bank owning assets totaling $629 million as well as deposits totaling $504 million. Its Texas Ratio is 6.09%, indicating that the bank is in good financial well-being and far from 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 0.1% APY $1000
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 0.4% APY $10001

Great Plains National Bank has several deposit products including 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 compared to the national average.

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Find a Great Plains National Bank Near Me

Great Plains National Bank has 21 physical branches in the U.S.

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