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Marine Bank Review

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Marine Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Marine Bank first started operating in 1970 with its headquarters in Springfield, Illinois. It manages assets of $641 million as well as deposits totaling $544 million, ranking it as a medium-size bank. Marine Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.1 stars out of 5, Marine Bank should be solidly in contention for your choice of bank. Marine Bank provides customers with a mixture of product offerings, which include 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 looking for a checking account for everyday use, Marine Bank's standard checking account does not have a monthly fee. Locating an institution with no-fee checking as well as a high savings APY is your best bet for returning the highest income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, Marine Bank ranks poorly in comparison to the national average. Its one-year CD has a rate of 0.20% and the five-year CD earns at a rate of 1.75%, while its highest-yielding money market account has an APY of 0.15%. Given its poor savings rate, you should consider looking at the competition to open savings accounts.

How Marine Bank's Savings Rates Compare

Marine Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Marine Bank generally has extremely low fees compared to the national average. With no monthly fee, Marine Bank's checking account is ideal for people who want an easy checking account. Marine Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you will need to find a Marine Bank ATM or eat the ATM charge.

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
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Service Quality

SmartAsset Average: 3.7

Marine Bank is a brick-and-mortar bank, with 13 total bank locations in Illinois. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. Additionally, Marine Bank offers a live chat feature, which may provide helpful service without getting on the phone. Marine Bank gets poor reviews from customers for its mobile app. The Marine Bank mobile app has been given a 3.0 out of 5 (with 46 reviews on iOS and Android) compared to the national average of 3.8. Marine Bank's mobile app lets you control your funds by reviewing account balances, transferring money and accessing customer service. Marine Bank gets an outstanding consumer satisfaction rating based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

Marine Bank is a medium-size bank with $641 million in assets as well as $544 million in deposits. Marine Bank has a strong Texas Ratio of 6.90%, signifying that Marine Bank is in good financial condition and improbable to fail. Additionally, Marine Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Marine Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.65% APY
  • 48 Month: 1.60% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Account 0.15% APY $10000

Marine Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Marine 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. Marine Bank's CD rates are fair in comparison to the national average.

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Find a Marine Bank Near Me

Marine Bank has 13 physical branches in the U.S.

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