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Oxford Bank Review

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Oxford Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Oxford Bank first started operating in 1884 with its headquarters in Oxford, Michigan. Oxford Bank handles $386 million in assets and $349 million in deposits, classifying it as a small bank. Oxford 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 in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4.4 stars out of 5, Oxford Bank is a solid contender in your bank search. Oxford Bank has the complete package of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly maintenance charge. Institutions that offer free checking as well as a high interest rate savings account are the best option for accruing the highest income on your deposits while maintaining convenient access to your funds.

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

Oxford Bank features a savings rate of 0.05%, which is fair compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.70% and 1.00%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given its poor savings rate, you should think about looking elsewhere to open savings accounts.

How Oxford Bank's Savings Rates Compare

Oxford Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Oxford Bank has typically extremely low fees as compared against the national average. With no monthly fee, Oxford Bank's checking account is perfect for those who want a hassle-free checking account. Additionally, at $30.00, Oxford Bank's overdraft fee is markedly lower than the national average. Oxford Bank does not reimburse out-of-network ATM charges, which means you'll be required to find an Oxford Bank ATM or accept the ATM charge.

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

SmartAsset Average: 3.7

Oxford Bank is a brick-and-mortar bank, with nine total bank locations in Michigan. With mobile and web apps, Oxford Bank makes account access convenient, even on the go. Oxford Bank gets moderate marks from users for its online presence. The Oxford Bank mobile app is rated at 3.8 out of 5 (out of 5 reviews on iOS and Android) compared to the national average of 3.8. You can utilize Oxford Bank's app to manage your finances by looking at account balances, transferring money and accessing support representatives. Oxford Bank gets a superb consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

SmartAsset Average: 4.8

Oxford Bank ranks as a small bank owning $386 million in assets and deposits totaling $349 million. Its Texas Ratio is 1.76%, suggesting a minute possibility of failure. 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 Account 0.1% APY $1

Oxford Bank offers several deposit products like 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 consider 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 as compared against the national average.

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Find a Oxford Bank Near Me

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

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