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Home Federal Bank Review

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Home Federal Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Home Federal Bank started in 1924 with its headquarters in Shreveport, Louisiana. It handles $413 million in assets and deposits totaling $343 million, classifying it as a medium-size bank. Home Federal 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.2 out of 5 stars, Home Federal Bank proves it is a great choice and should warrant serious consideration. Home Federal Bank has a diverse array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Home Federal Bank's ordinary checking account does not have a monthly fee. Using an institution with free checking, in addition to a high savings APY is the best bet for returning the most income from your deposits while having 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 0.10%, Home Federal Bank ranks poorly in comparison to the average U.S. bank. Home Federal Bank's CD rates are 0.40% and 1.40% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.05%. Given Home Federal Bank's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Home Federal Bank's Savings Rates Compare

Home Federal Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Home Federal Bank charges customers extremely low fees compared to the national average. With no monthly fee, Home Federal Bank is perfect for those who want a simple banking experience. For those who withdraw cash often, it is solid because it charges an out-of-network ATM fee of $1.00, which is solid in comparison to the national average. Home Federal Bank unfortunately doesn't refund out-of-network ATM charges, which means you'll have to find a Home Federal Bank ATM or accept the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Home Federal Bank is a brick-and-mortar bank, with seven total branches in Louisiana. It also offers access to mobile and web apps for an easy mobile-banking experience. Home Federal Bank's online and mobile banking platforms receive great feedback from customers. The Home Federal Bank mobile app is rated at 4.8 out of 5 (with 13 reviews on Apple and Android) compared to the national average of 3.8. Home Federal Bank's mobile app allows you to manage your bank accounts by looking at account balances, sending and receiving money as well as accessing support representatives. Home Federal Bank gets an outstanding consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Home Federal Bank is a medium-size bank with assets totaling $413 million as well as $343 million in deposits. It has a strong Texas Ratio of 5.87%, signifying a tiny likelihood of failure. Additionally, Home Federal 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 Home Federal Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1000
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.95% APY
  • 48 Month: 1.15% APY
  • 60 Month: 1.40% APY
$500 for all terms
Money Market Account 0.05% APY $10000

Home Federal Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Home Federal 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. Home Federal Bank's CD rates are fair compared to the average U.S. bank.

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Find a Home Federal Bank Near Me

Home Federal Bank has seven physical locations in the U.S.

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