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Highlands State Bank Review

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Highlands State Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Highlands State Bank was founded in 2005 with headquarters in Vernon, New Jersey. Highlands State Bank owns $449 million in assets as well as $391 million in deposits, making it a medium-size bank. Highlands State Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We ranked the bank at a 4.3 stars out of 5, indicating that Highlands State Bank is a solid contender in your bank search. Highlands State Bank has a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Highlands State Bank offers an option without a maintenance or monthly fee. Locating a bank with free checking as well as a high interest rate savings account is the best option for returning the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

Highlands State Bank has a savings rate of 0.30%, which is poor in comparison to the average U.S. bank. Highlands State Bank's one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.25%, respectively, while its highest-yielding money market account earns at a rate of 0.42%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How Highlands State Bank's Savings Rates Compare

Highlands State Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Highlands State Bank charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, Highlands State Bank's checking account is ideal for people who want a hassle-free banking experience. Highlands State Bank doesn't reimburse out-of-network ATM fees, which means you'll be required to search for a Highlands State Bank ATM or accept the ATM charge.

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
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Service Quality

4.0
SmartAsset Average: 3.7

Highlands State Bank is a brick-and-mortar bank, with four total branches in New Jersey. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Highlands State Bank's online and mobile banking services get relatively positive scores from customers. Out of 4 ratings across iOS and Android platforms, the Highlands State Bank mobile app rates a 4.0 out of 5 (compared to the national average of 3.8). You can access Highlands State Bank's app to control your bank accounts by monitoring monthly statements, transferring money and accessing support representatives. Highlands State Bank gets an outstanding consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Highlands State Bank is currently a medium-size bank with $449 million in assets and $391 million in deposits. Highlands State Bank's Texas Ratio is 7.66%, signifying that Highlands State Bank is in good financial shape and unlikely to fail. Additionally, Highlands State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.66%
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 Highlands State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.16% APY $100
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.75% APY
  • 36 Month: 0.90% APY
  • 48 Month: 1.15% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Accounts 0.42% APY 0.42% APY $10000 $15000

Highlands State 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. Highlands State Bank does not have the best savings rate, which means you should consider other options 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. Highlands State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Highlands State Bank Near Me

Highlands State Bank has four physical locations across the U.S.

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