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John Marshall Bank Review

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John Marshall Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

John Marshall Bank started in 2006 and its headquarters are located in Reston, Virginia. John Marshall Bank handles assets of $1 billion as well as deposits totaling $912 million, making it a medium-size bank. John Marshall Bank lacks premium access to support representatives, with no options for live chat or all-day service. 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. We ranked the bank at a 4.1 out of 5 stars, suggesting John Marshall Bank is a good bank that you should consider. John Marshall Bank provides customers with a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not carry a monthly maintenance charge. Using an institution with free checking and a high interest rate savings account is your best option for accruing the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
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

With a savings rate of 0.20%, John Marshall Bank ranks poorly in comparison to the average U.S. bank. John Marshall Bank's CD rates are 2.25% and 2.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.40%. Given John Marshall Bank's noncompetitive savings rate, you should consider other options to earn more on your deposits.

How John Marshall Bank's Savings Rates Compare

John Marshall Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

4.7
SmartAsset Average: 4.4

On average, John Marshall Bank charges customers extremely low fees as compared against the national average. With no monthly fee, John Marshall Bank's checking account is perfect for people who want an easy banking experience. For those who will need cash in a pinch, it is ideal because it has no out-of-network ATM fees. Additionally, at $35.00, John Marshall Bank has a lower overdraft fee compared to the average U.S. overdraft fee. John Marshall Bank unfortunately doesn't refund out-of-network ATM fees, which means you'll be required to find a John Marshall Bank ATM or eat the withdrawal fee.

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

2.5
SmartAsset Average: 3.7

John Marshall Bank is a brick-and-mortar bank, with six total bank locations in District of Columbia and Virginia. It also offers access to mobile and web apps for a simple mobile-banking experience. You can use John Marshall Bank's app to manage your funds by checking monthly statements, transferring money and accessing support representatives. John Marshall Bank receives a superb consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed 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

5.0
SmartAsset Average: 4.8

John Marshall Bank ranks as a medium-size bank owning assets totaling $1 billion and deposits totaling $912 million. John Marshall Bank has an excellent Texas Ratio of 0.69%, suggesting a negligible chance of failure. Additionally, John Marshall Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 John Marshall Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.1% APY $2501
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.35% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.60% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Accounts 0.3% APY 0.4% APY $10000 $15000

John Marshall Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. John Marshall Bank does not have the best savings rate, which means you should consider looking elsewhere 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. John Marshall Bank's CD rates are fair as compared against the national average.

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Find a John Marshall Bank Near Me

John Marshall Bank has six physical locations across the U.S.

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