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Inland Bank and Trust Review

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Inland Bank and Trust Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Inland Bank and Trust started in 1977 and is headquartered in Oak Brook, Illinois. It manages $1 billion in assets along with deposits totaling $895 million, which makes it a medium-size bank. Inland Bank and Trust 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. On the whole, Inland Bank and Trust is a bank with better alternatives, with a score of 3.8 stars out of 5 from the SmartAsset team. Inland Bank and Trust has the complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, 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, Inland Bank and Trust's standard checking does not carry a monthly charge. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for getting the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

Inland Bank and Trust features a savings rate of 0.10%, which is fair compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.75% and 1.51%, respectively, while its highest-yielding money market account has an APY of 0.25%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Inland Bank and Trust's Savings Rates Compare

Inland Bank and Trust Savings 0.10 National Average 0.26 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

Inland Bank and Trust has generally above-average fees compared to the average U.S. bank. With no monthly fee, Inland Bank and Trust's checking account is perfect for those who need a hassle-free checking account. For those who will need cash in a pinch, it is fair because it charges an out-of-network ATM fee of $2.00, which is reasonable compared to the average U.S. bank. Also, Inland Bank and Trust has an overdraft fee of $36.00, which is slightly steeper than that of other U.S. banks. Inland Bank and Trust unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll be required to find an Inland Bank and Trust ATM or eat the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $36.00 National Average: $35.00
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Service Quality

3.2
SmartAsset Average: 3.7

Inland Bank and Trust is a brick-and-mortar bank, with 12 total bank locations in Illinois. With mobile and web apps, Inland Bank and Trust makes mobile banking convenient, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:30 a.m. to 6:00 p.m. CT; Saturday, and 9:00 a.m. to 1:00 p.m. CT. Inland Bank and Trust's online and mobile banking platforms get mediocre marks from customers. With 14 ratings on both iOS and Android platforms, the Inland Bank and Trust mobile app rates a 2.5 out of 5 (compared to the national average of 3.8). Inland Bank and Trust's mobile app allows you to control your funds by reviewing monthly statements, sending and receiving funds as well as reaching customer service. Inland Bank and Trust gets a superb consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.5/5
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

Inland Bank and Trust is a medium-size bank and owns $1 billion in assets as well as deposits totaling $895 million. Its Texas Ratio is 7.56%, denoting that the bank is in good financial shape and improbable to fail. Additionally, Inland Bank and Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.56%
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 Inland Bank and Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 0.95% APY
  • 36 Month: 1.16% APY
  • 48 Month: 1.31% APY
  • 60 Month: 1.51% APY
$10000 for all terms
Money Market Account 0.2% APY $2500

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

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Find a Inland Bank and Trust Near Me

Inland Bank and Trust has 12 physical locations in the U.S.

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