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Oakstar Bank Review

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Oakstar Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Oakstar Bank started in 2005 with its headquarters in Springfield, Missouri. Oakstar Bank owns $715 million in assets along with $630 million in deposits, ranking it as a medium-size bank. Oakstar Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.6 stars out of 5, suggesting Oakstar Bank is among the best banks, and should be given strong consideration. Oakstar Bank has a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. Oakstar Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Oakstar Bank offers an option without a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is the best bet for gaining the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.6/5
National Average: 4.1

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

Rates

4.4
SmartAsset Average: 3.5

Oakstar Bank has a savings rate of 0.30%, which is fair as compared against the national average. Oakstar Bank's one-year CD has a rate of 2.02% and the five-year CD earns at a rate of 2.57%, while its highest-yielding money market account has an APY of 0.40%. Given Oakstar Bank's noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Oakstar Bank's Savings Rates Compare

Oakstar Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Oakstar Bank typically has extremely low fees in comparison to the average U.S. bank. With no monthly fee, Oakstar Bank is ideal for those who want a basic checking account. Oakstar Bank does not reimburse out-of-network ATM fees, meaning you'll have to search for an Oakstar Bank ATM or pay the 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
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Service Quality

4.1
SmartAsset Average: 3.7

Oakstar Bank is a brick-and-mortar bank, with 15 total bank locations in Missouri. With mobile and web apps, Oakstar Bank makes mobile banking straightforward, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. Oakstar Bank's online and mobile banking services receive fairly satisfactory ratings from customers. The Oakstar Bank mobile app rates a 4.2 out of 5 (with 17 ratings on iOS and Android) compared to the national average of 3.8. Oakstar Bank's mobile app lets you manage your accounts by checking monthly statements, sending and receiving funds and accessing support representatives. Oakstar Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Oakstar Bank is currently a medium-size bank with assets totaling $715 million as well as deposits totaling $630 million. Oakstar Bank has an excellent Texas Ratio of 3.69%, denoting a low likelihood of failure. Additionally, Oakstar Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.69%
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 Oakstar Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Certificates of Deposit
  • 12 Month: 2.02% APY
  • 24 Month: 2.27% APY
  • 36 Month: 2.52% APY
  • 48 Month: 2.57% APY
  • 60 Month: 2.57% APY
$1000 for all terms
Money Market Account 0.4% APY $2500

Oakstar 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. Oakstar 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. Oakstar Bank's CD rates are fair as compared against the national average.

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Find a Oakstar Bank Near Me

Oakstar Bank has 15 physical locations across the U.S.

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