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Jackson County Bank Review

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Jackson County Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Jackson County Bank started in 1900 with headquarters located in Seymour, Indiana. It has assets of $511 million as well as $416 million in deposits, which makes it a medium-size bank. Jackson County Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Jackson County Bank is a solid pick to be your bank, with a rating of 4.2 stars out of 5 from our experts. Jackson County Bank provides customers with an array product offerings, which include savings accounts, checking accounts, money market accounts and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Jackson County Bank's ordinary checking account does not have a monthly fee. Banks that offer free checking and a high interest rate savings account are your best option for accruing the highest income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Jackson County Bank features a savings rate of 0.05%, which is poor compared to the national average. Jackson County Bank's CDs feature a rate of 0.20% and 0.80% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.05%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.

How Jackson County Bank's Savings Rates Compare

Jackson County Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Jackson County Bank charges customers extremely low fees as compared against the national average. With no monthly fee, Jackson County Bank's checking account is perfect for those who need an easy banking experience. Also, at $30.00, its overdraft fee is noticeably lower than the average overdraft fee charged by U.S. banks. Jackson County Bank does not refund out-of-network ATM charges, which means you'll have to search for a Jackson County Bank ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Jackson County Bank is a brick-and-mortar bank, with 10 total bank locations in Indiana. It also offers access to mobile and web apps for straightforward access and banking on the go. Jackson County Bank's online and mobile banking services get relatively high ratings from users. The Jackson County Bank mobile app has an overall rating of 4.2 out of 5 (with 29 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Jackson County Bank's app to control your funds by reviewing account balances, transferring funds and accessing customer service. Jackson County Bank gets an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.2/5
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

Jackson County Bank is currently a medium-size bank and manages assets totaling $511 million and $416 million in deposits. Jackson County Bank's Texas Ratio is 7.93%, suggesting that Jackson County Bank is in good financial health and far from failure. Additionally, Jackson County Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.93%
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 Jackson County Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.03% APY $1000
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.45% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.80% APY
$10000 for all terms
Money Market Account 0.05% APY $25000

Jackson County Bank has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Jackson County 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. Jackson County Bank's CD rates are fair compared to other U.S. banks.

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Find a Jackson County Bank Near Me

Jackson County Bank has 10 branches across the U.S.

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