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Home Bank Review

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Home Bank Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Home Bank first started operating in 1908 and has its headquarters in Lafayette, Louisiana. Home Bank has assets of $2 billion and deposits totaling $2 billion, which makes it a large bank. Home 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 in-person service, in addition to its online and mobile offerings. With a score of 3.7 out of 5 stars, Home Bank should be near the middle of the pack in your search for a bank. Home Bank provides customers with a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account features a $8.00 monthly fee, which places it at the higher end of monthly fees. Banks that offer no-fee checking and a high interest rate savings account are your best bet for returning the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Home Bank features a savings rate of 0.40%, which is poor compared to other U.S. banks. Home Bank's CD rates are 1.00% and 2.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.38%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How Home Bank's Savings Rates Compare

Home Bank Savings 0.40 National Average 0.26 Compare Offers
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Fees

2.6
SmartAsset Average: 4.4

Home Bank charges customers high fees compared to other U.S. banks. At $8.00 per month, Home Bank's checking account is not great for people who need a hassle-free checking account. Home Bank doesn't reimburse out-of-network ATM fees, meaning you'll need to find a Home Bank ATM or eat the withdrawal fee.

Monthly Fee $8.00 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

3.8
SmartAsset Average: 3.7

Home Bank is a brick-and-mortar bank, with 41 total branches in Louisiana and Mississippi. With mobile and web apps, Home Bank makes mobile banking convenient, even on the go. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:30 p.m. PT; Saturday, and 8:00 a.m. to 1:00 p.m. PT. Home Bank's online and mobile banking platforms receive fair marks from users. The Home Bank mobile app has been given a 3.7 out of 5 (out of 120 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize Home Bank's app to manage your funds by monitoring account balances, sending and receiving money and accessing support representatives. Home Bank gets a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
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

Home Bank ranks as a large bank and owns assets totaling $2 billion as well as deposits totaling $2 billion. Home Bank's Texas Ratio is 10.78%, indicating a small chance of failure. Additionally, Home Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.78%
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 Home Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $50
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.15% APY
  • 36 Month: 1.30% APY
  • 48 Month: 1.50% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Account 0.2% APY $5000

Home 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. Home 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. Home Bank's CD rates are fair as compared against the national average.

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Find a Home Bank Near Me

Home Bank has 41 branches in the U.S.

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