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Heartland Bank and Trust Company Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 started in 1971 and is headquartered in Bloomington, Illinois. Heartland Bank and Trust Company manages assets of $3 billion and deposits totaling $3 billion, ranking it as a large bank. Heartland Bank and Trust Company 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. At a SmartAsset rating of 4 stars out of 5, Heartland Bank and Trust Company should be near the middle of the pack in your search for a bank. Heartland Bank and Trust Company has a choice of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly maintenance charge. Banks that offer free checking as well as a high savings APY are your best bet for gaining the highest income on your deposits while having convenient access to your funds.

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 the average U.S. bank. Heartland Bank and Trust Company's one-year CD has a rate of 0.45% and the five-year CD earns at a rate of 1.73%, while its highest-yielding money market account has a rate of 0.10%. Given its poor savings rate, you should consider other options to earn more on your deposits.

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

Heartland Bank and Trust Company charges its customers extremely low fees as compared against the national average. With no monthly fee, Heartland Bank and Trust Company's checking account is ideal for people who want a hassle-free banking experience. Additionally, at $30.00, its overdraft fee is markedly lower than the national average. Heartland Bank and Trust Company does not reimburse out-of-network ATM charges, which means you will have to search for a Heartland Bank and Trust Company ATM or accept 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 mobile banking convenient, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its 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's online and mobile banking services get moderate marks from users. The Heartland Bank and Trust Company mobile app has an overall rating of 3.5 out of 5 (with 240 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize Heartland Bank and Trust Company's mobile app to manage your bank accounts by monitoring account balances, transferring money and accessing support representatives. Heartland Bank and Trust Company receives an excellent consumer satisfaction score due to relatively few consumer complaints reported to 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 ranks as a large bank and handles assets totaling $3 billion and deposits totaling $3 billion. It has a strong Texas Ratio of 10.07%, denoting a small possibility 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: 0.45% APY
  • 24 Month: 0.86% APY
  • 36 Month: 1.11% APY
  • 48 Month: 1.48% APY
  • 60 Month: 1.73% APY
$5000 for all terms
Money Market Accounts 0.06% APY 0.1% APY $10000 $15000

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

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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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