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Heartland Bank and Trust Company Review

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Heartland Bank and Trust Company Savings
0.06% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Heartland Bank and Trust Company was founded in 1971 and its headquarters are located in Bloomington, Illinois. It owns $3 billion in assets and $3 billion in deposits, ranking it as a large bank. Heartland Bank and Trust Company lacks premium access to customer service, 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 apps. Coming in at a commendable 4 stars out of 5, Heartland Bank and Trust Company is a respectable bank that gets the job done. Heartland Bank and Trust Company provides customers with a choice of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Heartland Bank and Trust Company's most basic checking does not carry a monthly maintenance charge. Institutions that offer no-fee checking and a high savings APY are the best bet for getting the most income from your deposits while having convenient 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

With a savings rate of 0.06%, Heartland Bank and Trust Company ranks poorly in comparison to other U.S. banks. Heartland Bank and Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.43% and 1.73%, respectively, while its highest-yielding money market account has a rate of 0.10%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Heartland Bank and Trust Company's Savings Rates Compare

Heartland Bank and Trust Company Savings 0.06 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Heartland Bank and Trust Company charges customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Additionally, Heartland Bank and Trust Company has an overdraft fee of $30.00, which is markedly less than the average U.S. overdraft fee. Heartland Bank and Trust Company does not refund out-of-network ATM fees, meaning you will need to search for a Heartland Bank and Trust Company ATM or eat the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

Heartland Bank and Trust Company is a brick-and-mortar bank, with 58 total bank locations in Illinois. With mobile and web apps, Heartland Bank and Trust Company makes account access convenient, 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, 7:00 a.m. to 6:00 p.m. CT; Saturday, and 8:00 a.m. to 1:00 p.m. CT. Heartland Bank and Trust Company gets fair marks from customers for its online presence. The Heartland Bank and Trust Company mobile app is rated at 3.5 out of 5 (with 240 customer reviews on Apple and Android) compared to the national average of 3.8. You can use Heartland Bank and Trust Company's mobile app to control your funds by looking at current statements, transferring money as well as reaching customer service. Heartland Bank and Trust Company gets an exceptional consumer satisfaction rating 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 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

Heartland Bank and Trust Company is currently a large bank and owns assets totaling $3 billion and $3 billion in deposits. Heartland Bank and Trust Company's Texas Ratio is 10.07%, denoting a tiny opportunity of failure. Additionally, Heartland 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

10.07%
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 Heartland Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.06% APY $100
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.43% APY
  • 24 Month: 0.86% APY
  • 36 Month: 1.11% APY
  • 48 Month: 1.48% APY
  • 60 Month: 1.73% APY
$1500 for all terms
Money Market Account 0.06% APY $10000

Heartland Bank and Trust Company has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Heartland Bank and Trust Company 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. Heartland Bank and Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a Heartland Bank and Trust Company Near Me

Heartland Bank and Trust Company has 58 locations in the U.S.

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