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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


Great Southern Bank started in 1923 and has its headquarters in Reeds Spring, Missouri. It owns assets of $4 billion as well as $4 billion in deposits, classifying it as a large bank. Great Southern Bank lacks premium access to support representatives, with no live chat or all-day service options available. 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. On the whole, Great Southern Bank is a good bank that gets the job done, with a score of 3.9 stars out of 5 from the SmartAsset team. Great Southern Bank has a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Great Southern Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Great Southern Bank offers an option without a maintenance or monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best bet for returning the most income on your deposits while having easy access to your funds.

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

Great Southern Bank has a savings rate of 0.10%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 0.35% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account earns at a rate of 0.12%. Given Great Southern Bank's noncompetitive 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 typically has low fees compared to other U.S. banks. Great Southern Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who often withdraw money from the ATM, Great Southern Bank is less than great because it has an out-of-network ATM fee of $2.50, which is less than ideal in comparison to the average U.S. bank. Additionally, it has an overdraft fee of $33.00, which is lower than the national average. Great Southern Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll be required to locate a Great Southern Bank ATM or accept the cost of withdrawal.

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 branches in Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma and Texas. With mobile and web apps, Great Southern Bank makes mobile banking easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service 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 services get mediocre marks from customers. The Great Southern Bank mobile app has an overall rating of 3.3 out of 5 (with 400 ratings on Apple and Android) compared to the national average of 3.8. Great Southern Bank's mobile app allows you to control your accounts by reviewing monthly statements, transferring funds as well as accessing customer service. Great Southern Bank receives an exceptional consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 owns $4 billion in assets as well as $4 billion in deposits. Its Texas Ratio is 7.14%, signifying a tiny opportunity of 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 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 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 in comparison to the average U.S. bank.

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Find a Great Southern Bank Near Me

Great Southern Bank has 118 physical locations across the U.S.

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