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Harleysville Savings Bank Review

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

Overview

Harleysville Savings Bank was founded in 1915 with headquarters in Harleysville, Pennsylvania. Harleysville Savings Bank owns $775 million in assets and deposits totaling $570 million, classifying it as a medium-size bank. Harleysville Savings Bank 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 apps. With a score of 4 stars out of 5, Harleysville Savings Bank should be near the middle of the pack in your search for a bank. Harleysville Savings Bank offers a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts and mortgage products. Harleysville Savings Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Harleysville Savings Bank's most basic checking does not have a monthly maintenance charge. 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 option for getting the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Harleysville Savings Bank has a savings rate of 0.10%, which is poor compared to the average U.S. bank. Its CDs feature a rate of 0.21% and 2.17% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.18%. Given its poor savings rate, you should consider looking at the competition to open savings accounts.

How Harleysville Savings Bank's Savings Rates Compare

Harleysville Savings Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Harleysville Savings Bank charges customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Harleysville Savings Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you'll be required to locate a Harleysville Savings Bank 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

3.7
SmartAsset Average: 3.7

Harleysville Savings Bank is a brick-and-mortar bank, with nine total branches in Pennsylvania. It also offers access to mobile and web apps for simple access and banking on the go. Harleysville Savings Bank's online and mobile banking platforms receive fair marks from users. The Harleysville Savings Bank mobile app scored a 3.6 out of 5 (out of 41 ratings on Apple and Android) compared to the national average of 3.8. Harleysville Savings Bank's mobile app lets you control your finances by reviewing current statements, sending and receiving funds and reaching support representatives. Harleysville Savings Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.3
SmartAsset Average: 4.8

Harleysville Savings Bank ranks as a medium-size bank owning $775 million in assets and $570 million in deposits. Its Texas Ratio is 14.75%, indicating a small possibility of failure. Additionally, Harleysville Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

14.75%
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 Harleysville Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.21% APY
  • 24 Month: 2.17% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.80% APY
  • 60 Month: 2.17% APY
$500 for all terms
Money Market Accounts 0.13% APY 0.18% APY $10000 $15000

Harleysville Savings 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. Harleysville Savings Bank does not have the best savings rate, which means you should think about 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. Harleysville Savings Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Harleysville Savings Bank Near Me

Harleysville Savings Bank has nine physical branches in the U.S.

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