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Perpetual Federal Savings Bank Review

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Perpetual Federal Savings Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Perpetual Federal Savings Bank was founded in 1878 with headquarters located in Urbana, Ohio. It manages assets of $396 million and deposits totaling $312 million, classifying it as a small bank. Perpetual Federal Savings Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With an average 3.8 stars out of 5, Perpetual Federal Savings Bank proves it is a decent bank that leaves room for improvement. Perpetual Federal Savings Bank provides customers with the full slate of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate compared to the average savings account. Finding 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 option for getting the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
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

With a savings rate of 0.15%, Perpetual Federal Savings Bank ranks poorly as compared against the national average. Its one-year CD has a rate of 1.51% and the five-year CD earns at a rate of 3.05%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Perpetual Federal Savings Bank's Savings Rates Compare

Perpetual Federal Savings Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Perpetual Federal Savings Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

2.5
SmartAsset Average: 3.7

Perpetual Federal Savings Bank is a brick-and-mortar bank, with one total bank locations in Ohio. Unfortunately, it does not offer a mobile or web app, which means customers are restricted to in-person customer service and access Perpetual Federal Savings Bank receives an exceptional consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating NR
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

Perpetual Federal Savings Bank ranks as a small bank and manages assets totaling $396 million and $312 million in deposits. Its Texas Ratio is 1.73%, signifying a low possibility of failure. Additionally, Perpetual Federal Savings 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 Perpetual Federal Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $10
Checking Account 0.15% APY $100
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 2.38% APY
  • 36 Month: 2.79% APY
  • 48 Month: 2.89% APY
  • 60 Month: 3.05% APY
$1000 for all terms

Perpetual Federal Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Perpetual Federal Savings 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. Perpetual Federal Savings Bank's CD rates are fair compared to the average U.S. bank.

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Find a Perpetual Federal Savings Bank Near Me

Perpetual Federal Savings Bank has one physical locations in the U.S.

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