Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Highland Bank Review

Your Details Done
by Updated
Highland Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Highland Bank first started operating in 1943 with headquarters in Saint Michael, Minnesota. Highland Bank owns assets of $491 million and $361 million in deposits, ranking it as a medium-size bank. Highland Bank 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 in-person service, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.3 out of 5 stars, suggesting Highland Bank is a solid contender in your bank search. Highland Bank has a complete array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. Highland Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Highland Bank's standard checking account does not have a monthly fee. Banks that offer no-fee checking and a high interest rate savings account are the best bet for accruing the highest income from your deposits while having convenient access to your money.

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

Highland Bank features a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its CDs feature a rate of 0.60% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given Highland Bank's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Highland Bank's Savings Rates Compare

Highland Bank Savings 0.05 National Average 0.26 Compare Offers
Back to Overview


SmartAsset Average: 4.4

On average, Highland Bank charges its customers extremely low fees compared to the national average. Highland Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Highland Bank does not reimburse out-of-network ATM fees, meaning you will have to locate a Highland Bank ATM or pay the withdrawal 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
Back to Overview

Service Quality

SmartAsset Average: 3.7

Highland Bank is a brick-and-mortar bank, with five total bank locations in Minnesota. It also offers access to mobile and web apps for a simple mobile-banking experience. Highland Bank's online and mobile banking services get fairly high ratings from customers. Out of 6 customer reviews across iOS and Android platforms, the Highland Bank mobile app rates a 4.3 out of 5 (compared to the national average of 3.8). You can utilize Highland Bank's app to manage your bank accounts by monitoring monthly statements, transferring funds as well as accessing support representatives. Highland Bank receives a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

SmartAsset Average: 4.8

Highland Bank is a medium-size bank and handles $491 million in assets as well as deposits totaling $361 million. Highland Bank has an excellent Texas Ratio of 4.23%, signifying a negligible possibility of failure. Additionally, Highland 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.

Back to Overview

Compare Highland Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.85% APY
  • 36 Month: 0.95% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Account 0.1% APY $1000

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

Back to Overview

Find a Highland Bank Near Me

Highland Bank has five physical branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure