Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Malaga Bank F.S.B. Review

Your Details Done
by Updated
Malaga Bank F.S.B. Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1985, Malaga Bank F.S.B. has $1 billion in assets along with deposits totaling $759 million, making it a medium-size bank. Malaga Bank F.S.B., whose headquarters are in Palos Verdes Pen, California, lacks premium access to support representatives, 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. We ranked the bank at a 4.3 out of 5 stars, indicating that Malaga Bank F.S.B. is a solid contender in your bank search. Malaga Bank F.S.B. provides customers with the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts and CDs. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Malaga Bank F.S.B. offers an option without a maintenance or monthly fee. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is the best option for accruing the most income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Malaga Bank F.S.B. features a savings rate of 0.05%, which is fair in comparison to the national average. Malaga Bank F.S.B.'s one-year and five-year term lengths CDs earn at a rate of 0.30% and 3.05%, respectively, while its highest-yielding money market account has a rate of 0.10%. Given Malaga Bank F.S.B.'s below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Malaga Bank F.S.B.'s Savings Rates Compare

Malaga Bank F.S.B. Savings 0.05 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Malaga Bank F.S.B. charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, Malaga Bank F.S.B.'s checking account is perfect for people who need an easy banking experience. Malaga Bank F.S.B. unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll need to locate a Malaga Bank F.S.B. ATM or accept the withdrawal 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
Back to Overview

Service Quality

4.1
SmartAsset Average: 3.7

Malaga Bank F.S.B. is a brick-and-mortar bank, with five total bank locations in California. With mobile and web apps, Malaga Bank F.S.B. makes account access straightforward, even on the go. Malaga Bank F.S.B. receives reasonably high praise from users for its mobile platform. With 7 customer reviews across Apple and Android platforms, the Malaga Bank F.S.B. mobile app has an overall rating of 4.3 out of 5 (compared to the national average of 3.8). Malaga Bank F.S.B.'s mobile app allows you to manage your bank accounts by monitoring monthly statements, sending and receiving money as well as accessing support representatives. Malaga Bank F.S.B. receives a superb consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

Malaga Bank F.S.B. is a medium-size bank with assets totaling $1 billion and deposits totaling $759 million. Its Texas Ratio is 0.00%, suggesting that Malaga Bank F.S.B. is in outstanding financial health and unlikely to fail. Additionally, Malaga Bank F.S.B. 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.

Back to Overview

Compare Malaga Bank F.S.B. to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.60% APY
  • 60 Month: 3.05% APY
$10000 for all terms
Money Market Account 0.1% APY $25000

Malaga Bank F.S.B. has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Malaga Bank F.S.B. does not have the best savings rate, which means you should think about 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. Malaga Bank F.S.B.'s CD rates are fair compared to other U.S. banks.

Back to Overview

Find a Malaga Bank F.S.B. Near Me

Malaga Bank F.S.B. has five branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure