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JD Bank Review

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

Overview

Established in 1947, JD Bank has $870 million in assets and deposits totaling $735 million, ranking the institution as a medium-size bank. JD Bank, whose headquarters are in Jennings, Louisiana, 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, JD Bank is a good bank that gets the job done, with a rating of 4.0 out of 5 stars from the SmartAsset experts. JD Bank provides customers with a mixture of banking products, including savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account carries a $3.00 monthly fee, which is acceptable compared to the average U.S. bank. Banks that offer no-fee checking as well as a high interest rate savings account are your best bet for getting the highest income from your deposits alongside convenient access to your funds.

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

3.4
SmartAsset Average: 3.5

JD Bank features a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its one-year CD earns at a rate of 1.15%, while its highest-yielding money market account has an APY of 0.05%. Given JD Bank's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How JD Bank's Savings Rates Compare

JD Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

3.8
SmartAsset Average: 4.4

On average, JD Bank charges customers above-average fees as compared against the national average. JD Bank's checking account has a monthly fee of $3.00, making it slightly worse for anyone looking for a simple account. JD Bank doesn't reimburse out-of-network ATM fees, meaning you'll need to find a JD Bank ATM or pay the fee.

Monthly Fee $3.00 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

4.0
SmartAsset Average: 3.7

JD Bank is a brick-and-mortar bank, with 25 total branches in Louisiana. It also offers access to mobile and web apps for simple access and banking on the go. JD Bank's online and mobile banking platforms receive relatively high praise from users. The JD Bank mobile app has an overall rating of 4.1 out of 5 (with 140 reviews on iOS and Android) compared to the national average of 3.8. JD Bank's mobile app lets you manage your finances by checking current statements, transferring money as well as reaching support representatives. JD Bank receives an excellent consumer satisfaction score due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
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

JD Bank is a medium-size bank owning assets totaling $870 million as well as $735 million in deposits. It has a strong Texas Ratio of 7.27%, denoting a tiny likelihood of failure. Additionally, JD Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.27%
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 JD Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $200
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 0.25% APY
  • 36 Month: 1.05% APY
  • 48 Month: 2.05% APY
$10000 for all terms
Money Market Account 0.05% APY $2500

JD Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. JD Bank 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. JD Bank's CD rates are fair compared to the average U.S. bank.

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Find a JD Bank Near Me

JD Bank has 25 physical locations in the U.S.

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