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Heartland Bank 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 Savings
0.05% APY

Overview

Our Rating: 4.3/5 How we calculated this rating

 

Founded in 1911, Heartland Bank has assets totaling $900 million as well as deposits totaling $780 million, classifying it as a medium-size bank. Heartland Bank, whose headquarters are in Gahanna, Ohio, does not have the same customer service perks that other banks do. It is a conventional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. With a commendable 4.3 out of 5 stars, Heartland Bank proves it is a great choice and should warrant serious consideration. 

Heartland Bank offers a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate, which means other popular banks have higher rates. A great everyday account, Heartland Bank's savings account goes without a maintenance or monthly fee. Why keep checking and savings accounts with the same bank? Convenient transferring of funds between both accounts translates to higher interest rates in your savings account with the flexibility of spending from your checking.

Service Quality

Heartland Bank is a brick-and-mortar bank, with 18 total branches in Ohio. It also offers access to mobile and web apps for a straightforward mobile-banking experience.  

Heartland Bank gets fairly high praise from users for its online presence: the Heartland Bank mobile app has been given a 3.9 out of 5 (out of 21 ratings on iOS and Android) compared to the national average of 3.8. You can utilize Heartland Bank's mobile app to manage your accounts by checking account balances, transferring funds as well as accessing customer service. Heartland Bank gets a superb consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.05% APY $50 Compare Offers
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 2.20% APY
  • 36 Month: 2.30% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.50% APY
$500 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.08% APY
  • 25K tier: 0.25%
$10,000 & $25,000 Compare Offers
Checking Accounts 0.03% APY $500 Compare Offers

Heartland Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Heartland Bank does not have the best savings rate, which means you should think about other options for banks that offer 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's CD rates are competitive in comparison to the average U.S. bank. 

Compare Heartland Bank to Other Competitive Offers

Rates

Heartland Bank has a savings rate of 0.05%, which is fair as compared against the national average. Heartland Bank's CD rates are 1.00% and 2.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.25%. It has a fair savings rate, which means you can find higher rates with other banks. You might want to think about looking elsewhere to open savings accounts.

Fees

Heartland Bank generally has extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. For those who often frequent the ATM, it is perfect because it offers no ATM fees. Additionally, Heartland Bank has an overdraft fee of $31, which is lower than the national average. 

Financial Health

Heartland Bank ranks as a medium-size bank and handles $900 million in assets as well as $780 million in deposits. Heartland Bank has an excellent Texas Ratio of 2.11%, denoting that the bank is in superb financial health and exceedingly improbable to fail. Additionally, Heartland Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Heartland Bank Near Me

Heartland Bank has 18 physical locations in the U.S.

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