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International Bank of Chicago Review

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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
International Bank of Chicago Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

International Bank of Chicago started in 1992 with headquarters in Chicago, Illinois. International Bank of Chicago owns assets of $578 million along with deposits totaling $501 million, ranking it as a medium-size bank. International Bank of Chicago 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. SmartAsset has rated International Bank of Chicago 3.9 out of 5 stars, which means it is a respectable bank that you should consider. International Bank of Chicago offers a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, International Bank of Chicago offers an option without a monthly fee. Finding an institution with free checking as well as a high interest rate savings account is your best bet for accruing the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

International Bank of Chicago features a savings rate of 0.20%, which is poor compared to other U.S. banks. Its one-year CD has a rate of 2.65% and the five-year CD has a rate of 3.50%, while its highest-yielding money market account has a rate of 1.50%. Given International Bank of Chicago's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How International Bank of Chicago's Savings Rates Compare

International Bank of Chicago Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

International Bank of Chicago has generally extremely low fees in comparison to the national average. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. International Bank of Chicago doesn't refund out-of-network ATM charges, which means you'll need to search for an International Bank of Chicago ATM or eat the fee.

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

2.5
SmartAsset Average: 3.7

International Bank of Chicago is a brick-and-mortar bank, with six total branches in Illinois and New York. With a mobile app, International Bank of Chicago provides easy mobile banking, even from home or work. International Bank of Chicago receives an outstanding consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

4.0
SmartAsset Average: 4.8

International Bank of Chicago ranks as a medium-size bank with $578 million in assets as well as deposits totaling $501 million. International Bank of Chicago's Texas Ratio is 21.58%, suggesting that the bank is in fine financial condition. Additionally, International Bank of Chicago is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

21.58%
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 International Bank of Chicago to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $200
Checking Account 0.25% APY $2500
Certificates of Deposit
  • 12 Month: 2.65% APY
  • 24 Month: 3.00% APY
  • 36 Month: 3.25% APY
  • 48 Month: 3.35% APY
  • 60 Month: 3.50% APY
$1000 for all terms
Money Market Accounts 1.5% APY 1.5% APY $10000 $15000

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

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Find a International Bank of Chicago Near Me

International Bank of Chicago has six physical locations across the U.S.

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