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Guaranty Bank and Trust Company Review

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Guaranty Bank and Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1943, Guaranty Bank and Trust Company has $810 million in assets as well as deposits totaling $676 million, ranking the institution as a medium-size bank. Guaranty Bank and Trust Company, whose headquarters are in Belzoni, Mississippi, 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 offerings. At a SmartAsset rating of 4.2 stars out of 5, Guaranty Bank and Trust Company should be solidly in contention for your choice of bank. Guaranty Bank and Trust Company has a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Guaranty Bank and Trust Company has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Guaranty Bank and Trust Company's standard checking account does not have a monthly charge. Locating a bank with no-fee checking as well as a high interest rate savings account is your best bet for accruing the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

Guaranty Bank and Trust Company has a savings rate of 0.05%, which is poor compared to other U.S. banks. Guaranty Bank and Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.58% and 1.25%, respectively, while its highest-yielding money market account earns at an APY of 0.13%. Given Guaranty Bank and Trust Company's poor savings rate, you should think about taking a look at other banks for savings accounts.

How Guaranty Bank and Trust Company's Savings Rates Compare

Guaranty Bank and Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Guaranty Bank and Trust Company charges customers extremely low fees in comparison to other U.S. banks. Guaranty Bank and Trust Company's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Guaranty Bank and Trust Company does not reimburse out-of-network ATM charges, meaning you'll have to locate a Guaranty Bank and Trust Company ATM or pay the fee.

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

4.2
SmartAsset Average: 3.7

Guaranty Bank and Trust Company is a brick-and-mortar bank, with 19 total branches in Mississippi. With mobile and web apps, Guaranty Bank and Trust Company makes mobile banking convenient, even on the go. Guaranty Bank and Trust Company's online and mobile banking services get moderately positive scores from customers. Out of 46 ratings on both Apple and Android platforms, the Guaranty Bank and Trust Company mobile app has an overall rating of 4.4 out of 5 (compared to the national average of 3.8). You can utilize Guaranty Bank and Trust Company's mobile app to control your funds by looking at current statements, transferring funds and accessing support representatives. Guaranty Bank and Trust Company receives an exceptional consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.4/5
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

Guaranty Bank and Trust Company is a medium-size bank and has $810 million in assets and deposits totaling $676 million. Guaranty Bank and Trust Company's Texas Ratio is 7.85%, denoting a tiny likelihood of failure. Additionally, Guaranty Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.85%
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 Guaranty Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $2500
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.58% APY
  • 24 Month: 0.73% APY
  • 36 Month: 0.88% APY
  • 48 Month: 1.05% APY
  • 60 Month: 1.25% APY
$10000 for all terms
Money Market Account 0.1% APY $1000

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

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Find a Guaranty Bank and Trust Company Near Me

Guaranty Bank and Trust Company has 19 physical branches across the U.S.

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