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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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.Back to Overview
Compare Great Southern Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.02% APY||$1|
|Certificates of Deposit|| ||$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.Back to Overview
Find a Great Southern Bank Near Me
Great Southern Bank has 118 physical locations across the U.S.Back to Overview