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People's Intermountain Bank Review

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People's Intermountain Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

People's Intermountain Bank was founded in 1913 with headquarters in American Fork, Utah. It handles assets of $2 billion as well as deposits totaling $2 billion, classifying it as a large bank. People's Intermountain Bank lacks premium access to customer service, 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 apps. SmartAsset experts rated the bank 4.3 stars out of 5, which means People's Intermountain Bank is a great choice and should warrant serious consideration. People's Intermountain Bank provides customers with a varied choice of product offerings, 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 looking for a checking account for everyday use, People's Intermountain Bank offers an option without a maintenance or monthly fee. Banks that offer free checking, in addition to a high savings APY are the best option for gaining the most income on your deposits while having easy access to your money.

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

3.5
SmartAsset Average: 3.5

With a savings rate of 0.10%, People's Intermountain Bank ranks poorly compared to the national average. People's Intermountain Bank's one-year and five-year term lengths CDs earn at a rate of 1.20% and 2.00%, respectively, while its highest-yielding money market account has a rate of 0.30%. Given People's Intermountain Bank's poor savings rate, you should consider looking at the competition to open savings accounts.

How People's Intermountain Bank's Savings Rates Compare

People's Intermountain Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

People's Intermountain Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, People's Intermountain Bank is ideal for people who want a basic checking account. People's Intermountain Bank does not reimburse out-of-network ATM fees, which means you will need to find a People's Intermountain 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

3.7
SmartAsset Average: 3.7

People's Intermountain Bank is a brick-and-mortar bank, with 32 total branches in Idaho and Utah. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:15 a.m. to 6:15 p.m. MT; Saturday, and 9:00 a.m. to 1:00 p.m. MT. People's Intermountain Bank's online and mobile banking platforms get fair feedback from users. With 110 ratings across iOS and Android platforms, the People's Intermountain Bank mobile app is scored at 3.6 out of 5 (compared to the national average of 3.8). People's Intermountain Bank's mobile app allows you to control your accounts by looking at monthly statements, transferring money as well as reaching customer service. People's Intermountain Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
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

People's Intermountain Bank is a large bank and has $2 billion in assets as well as $2 billion in deposits. Its Texas Ratio is 1.32%, signifying a low probability of failure. Additionally, People's Intermountain 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 People's Intermountain Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 1.20% APY
  • 24 Month: 1.50% APY
  • 36 Month: 1.60% APY
  • 48 Month: 1.80% APY
  • 60 Month: 2.00% APY
$500 for all terms
Money Market Account 0.25% APY $1

People's Intermountain Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. People's Intermountain Bank 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. People's Intermountain Bank's CD rates are fair in comparison to other U.S. banks.

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Find a People's Intermountain Bank Near Me

People's Intermountain Bank has 32 branches across the U.S.

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