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Heritage Bank Review

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Heritage Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Heritage Bank first started operating in 1955 with its headquarters in Jonesboro, Georgia. It handles $476 million in assets and deposits totaling $410 million, classifying it as a medium-size bank. Heritage Bank lacks premium access to customer service, with no live chat or all-day service options available. 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. On the whole, Heritage Bank is a satisfactory bank that does not compare with some of the other banks, with a rating of 3.4 stars out of 5 from our team. Heritage Bank has a complete array 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; other popular banks have higher rates. The bank's standard checking product has a monthly fee of $10.00, although banks sometimes have requirements that allow you to waive the fee. Banks that offer free checking as well as a high savings APY are your best bet for gaining the highest income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.15%, Heritage Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 0.75% and the five-year CD earns at a rate of 1.35%, while its highest-yielding money market account earns at an APY of 0.25%. Given Heritage Bank's below average savings rate, you should consider looking at the competition to open savings accounts.

How Heritage Bank's Savings Rates Compare

Heritage Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Heritage Bank charges its customers high fees as compared against the national average. At $10.00/month, Heritage Bank is less than great for those who want a basic banking experience. For those who withdraw money often, Heritage Bank is fair because it charges an out-of-network ATM fee of $1.50, which is reasonable in comparison to the national average. Heritage Bank does not refund out-of-network ATM fees, which means you'll need to find a Heritage Bank ATM or pay the cost of withdrawal.

Monthly Fee $10.00 National Average: $3.21
Non-network ATM Fee $1.50 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Heritage Bank is a brick-and-mortar bank, with seven total branches in Georgia. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Sunday and 7:00 a.m. to 1:00 a.m. ET. You can utilize Heritage Bank's mobile app to manage your finances by checking current statements, transferring funds as well as accessing support representatives. Heritage Bank gets a superb consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

SmartAsset Average: 4.8

Heritage Bank is a medium-size bank with assets totaling $476 million as well as deposits totaling $410 million. Heritage Bank has a strong Texas Ratio of 7.31%, signifying a small likelihood of failure. Additionally, Heritage Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Heritage Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $5
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.26% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.35% APY
$500 for all terms
Money Market Account 0.25% APY $25000

Heritage Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Heritage Bank 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. Heritage Bank's CD rates are fair as compared against the national average.

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Find a Heritage Bank Near Me

Heritage Bank has seven physical branches across the U.S.

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