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Perpetual Federal Savings Bank Review

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Perpetual Federal Savings Bank Savings
0.18% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Perpetual Federal Savings Bank was founded in 1878 with its headquarters in Urbana, Ohio. Perpetual Federal Savings Bank has assets of $396 million and deposits totaling $312 million, making it a small bank. Perpetual Federal Savings 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 offerings. Coming in at an average 3.8 stars out of 5, Perpetual Federal Savings Bank proves it is a bank with better alternatives. Perpetual Federal Savings Bank has a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. Locating a bank with free checking as well as a high interest rate savings account is the best option for accruing the most income from your deposits alongside convenient access to your funds.

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 0.18%, Perpetual Federal Savings Bank ranks poorly as compared against the national average. Its one-year CD has a rate of 1.77% and the five-year CD has a rate of 3.13%. Given Perpetual Federal Savings Bank's noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How Perpetual Federal Savings Bank's Savings Rates Compare

Perpetual Federal Savings Bank Savings 0.18 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 branches 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 gets an outstanding consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 owns assets totaling $396 million as well as $312 million in deposits. Perpetual Federal Savings Bank has an excellent Texas Ratio of 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 0.18% APY $10
Checking Account 0.18% APY $100
Certificates of Deposit
  • 12 Month: 1.77% APY
  • 24 Month: 2.38% APY
  • 36 Month: 3.05% APY
  • 48 Month: 3.10% APY
  • 60 Month: 3.13% APY
$1000 for all terms

Perpetual Federal Savings Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Perpetual Federal Savings 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. Perpetual Federal Savings Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Perpetual Federal Savings Bank Near Me

Perpetual Federal Savings Bank has one locations across the U.S.

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