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Oxford Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Oxford Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Oxford Bank was founded in 1884 with headquarters in Oxford, Michigan. Oxford Bank manages assets of $386 million along with $349 million in deposits, classifying it as a small bank. Oxford Bank 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 apps. Coming in at a commendable 4.4 out of 5 stars, Oxford Bank is a great choice and should warrant serious consideration. Oxford Bank offers a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Oxford Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Oxford Bank offers an option without a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best bet for gaining the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

Oxford Bank has a savings rate of 0.05%, which is poor in comparison to other U.S. banks. Oxford Bank's one-year CD has a rate of 1.70% and the five-year CD earns at a rate of 1.00%, while its highest-yielding money market account earns at an APY of 0.10%. Given Oxford Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Oxford Bank's Savings Rates Compare

Oxford Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Oxford Bank has generally extremely low fees compared to the national average. With no monthly fee, Oxford Bank's checking account is perfect for those who need a hassle-free checking account. Also, it has an overdraft fee of $30.00, which is noticeably less than the average overdraft fee charged by U.S. banks. Oxford Bank unfortunately does not reimburse out-of-network ATM charges, meaning you will be required to search for an Oxford Bank ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

Oxford Bank is a brick-and-mortar bank, with nine total bank locations in Michigan. It also offers access to mobile and web apps for an easy mobile-banking experience. Oxford Bank's online and mobile banking services receive fair feedback from customers. With 5 ratings on both iOS and Android platforms, the Oxford Bank mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). Oxford Bank's mobile app lets you manage your bank accounts by checking monthly statements, transferring money and reaching customer service. Oxford Bank receives a superb consumer satisfaction rating based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.8/5
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

Oxford Bank is a small bank with $386 million in assets as well as deposits totaling $349 million. Oxford Bank has an excellent Texas Ratio of 1.76%, suggesting that Oxford Bank is in terrific financial condition and unlikely to fail. Additionally, Oxford 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 Oxford Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 1.70% APY
  • 24 Month: 2.00% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.00% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

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

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Find a Oxford Bank Near Me

Oxford Bank has nine physical locations in the U.S.

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