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Great Southern Bank Review

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Great Southern Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1923, Great Southern Bank has $4 billion in assets and $4 billion in deposits, classifying it as a large bank. Great Southern Bank, whose headquarters are in Reeds Spring, Missouri, lacks premium access to support representatives, 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 offerings. With an average 3.9 out of 5 stars, Great Southern Bank proves it is a respectable bank that deserves your consideration. Great Southern Bank offers the full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, 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, Great Southern Bank offers an option without a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best bet for getting the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, Great Southern Bank ranks poorly compared to the average U.S. bank. Its one-year CD earns at a rate of 0.35% and the five-year CD earns at a rate of 1.00%, while its highest-yielding money market account has an APY of 0.12%. Given Great Southern Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Great Southern Bank's Savings Rates Compare

Great Southern Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Great Southern Bank charges its customers low fees in comparison to the average U.S. bank. With no monthly fee, Great Southern Bank's checking account is perfect for people who want an easy banking experience. For those who will need cash in a pinch, it is less than the best product because it has an out-of-network ATM fee of $2.50, which is less than the best option in comparison to other U.S. banks. Additionally, at $33.00, it has a markedly lower overdraft fee compared to the average U.S. overdraft fee. Great Southern Bank unfortunately does not refund out-of-network ATM fees, meaning you will be required to find a Great Southern Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Great Southern Bank is a brick-and-mortar bank, with 118 total bank locations in Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma and Texas. With mobile and web apps, Great Southern Bank makes account access convenient, even on the go. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 7:00 p.m. CT; Saturday, 8:00 a.m. to 6:00 p.m. CT; Sunday, and 9:00 a.m. to 4:00 p.m. CT. Great Southern Bank's online and mobile banking platforms get mediocre scores from customers. Out of 400 ratings across iOS and Android platforms, the Great Southern Bank mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). You can use Great Southern Bank's app to control your funds by checking current statements, transferring funds as well as accessing support representatives. Great Southern Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Great Southern Bank is a large bank and manages $4 billion in assets as well as deposits totaling $4 billion. It has a strong Texas Ratio of 7.14%, signifying that the bank is in fine financial condition and far from failure. Additionally, Great Southern Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Southern Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.02% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.55% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.85% APY
  • 60 Month: 1.00% APY
$250 for all terms
Money Market Account 0.07% APY $10000

Great Southern Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Great Southern Bank 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. Great Southern Bank's CD rates are fair compared to the average U.S. bank.

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Find a Great Southern Bank Near Me

Great Southern Bank has 118 locations in the U.S.

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