Loading
Tap on the profile icon to edit
your financial details.

Home Savings Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Home Savings Bank Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2000, Home Savings Bank has $3 billion in assets as well as deposits totaling $2 billion, making the institution a large bank. Home Savings Bank, whose headquarters are in Youngstown, Ohio, 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 apps. On the whole, Home Savings Bank is a good bank that deserves your consideration, with a rating of 4.0 out of 5 stars from our experts. Home Savings Bank offers a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Home Savings Bank has a fair savings rate; you can find higher rates with other banks. Banks that offer free checking and a high interest rate savings account are your best option for getting the highest income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.03%, Home Savings Bank ranks poorly in comparison to the national average. Home Savings Bank's one-year CD earns at a rate of 0.40% and the five-year CD has a rate of 3.00%, while its highest-yielding money market account earns at an APY of 0.40%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Home Savings Bank's Savings Rates Compare

Home Savings Bank Savings 0.03 National Average 0.26 Compare Offers
Back to Overview

Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Home Savings Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

4.3
SmartAsset Average: 3.7

Home Savings Bank is a brick-and-mortar bank, with 37 total branches in Ohio and Pennsylvania. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 8:00 p.m. ET; Saturday, and 9:00 a.m. to 3:00 p.m. ET. Home Savings Bank receives high marks from users for its mobile platform. With 840 ratings on Apple and Android platforms, the Home Savings Bank mobile app rates a 4.6 out of 5 (compared to the national average of 3.8). Home Savings Bank's mobile app allows you to manage your accounts by checking monthly statements, transferring money as well as accessing customer service. Home Savings Bank receives a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

Home Savings Bank ranks as a large bank with $3 billion in assets as well as deposits totaling $2 billion. It has an excellent Texas Ratio of 4.39%, signifying that the bank is in superb financial well-being and far from failure. Additionally, Home Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.39%
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 Home Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.03% APY $50
Checking Account 0.01% APY $1000
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.75% APY
  • 60 Month: 3.00% APY
$500 for all terms
Money Market Accounts 0.4% APY 0.4% APY $10000 $15000

Home Savings 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 Savings Bank does not have the best savings rate, which means you should think about 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. Home Savings Bank's CD rates are fair in comparison to the average U.S. bank.

Back to Overview

Find a Home Savings Bank Near Me

Home Savings Bank has 37 physical locations in 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