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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 first started operating in 2006 with headquarters located in Reston, Virginia. It handles $1 billion in assets and deposits totaling $912 million, making it a medium-size bank. John Marshall Bank lacks premium access to customer service, 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. SmartAsset experts rated John Marshall Bank 4.1 out of 5 stars, which means it is a respectable bank that warrants your consideration. John Marshall Bank has a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly fee. Banks that offer free checking as well as a high savings APY are the best bet for gaining the most income from your deposits while maintaining convenient 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 national average. John Marshall Bank's CDs feature a rate of 2.15% 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 think about taking a look at other banks for savings accounts.

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

John Marshall Bank generally has extremely low fees compared to other U.S. banks. 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 perfect because it charges no out-of-network ATM fees. Additionally, it has an overdraft fee of $35.00, which is on par with the average U.S. overdraft fee. John Marshall Bank does not reimburse out-of-network ATM charges, meaning you will be required to locate a John Marshall Bank ATM or pay the cost of withdrawal.

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. With mobile and web apps, John Marshall Bank makes account access straightforward, even on the go. You can access John Marshall Bank's mobile app to control your bank accounts by checking monthly statements, sending and receiving funds and reaching customer service. John Marshall Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 is a medium-size bank owning assets totaling $1 billion as well as $912 million in deposits. John Marshall Bank has an excellent Texas Ratio of 0.69%, signifying that John Marshall Bank is in excellent financial condition and far from 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: 2.15% APY
  • 24 Month: 2.34% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.60% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Account 0.3% APY $1

John Marshall Bank offers 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 taking a look 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 compared to the national average.

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Find a John Marshall Bank Near Me

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

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