Founded in 1920, Planters Bank & Trust Company has $1 billion in assets as well as deposits totaling $887 million, ranking it as a medium-size bank. Planters Bank & Trust Company, whose headquarters are in Indianola, Mississippi, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.4 stars out of 5, Planters Bank & Trust Company should be solidly in contention for your choice of bank. Planters Bank & Trust Company provides customers with a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Planters Bank & Trust Company has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Planters Bank & Trust Company offers an option without a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best option for gaining the most income on your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Planters Bank & Trust Company features a savings rate of 0.50%, which is poor in comparison to the average U.S. bank. Planters Bank & Trust Company's one-year and five-year term lengths CDs earn at a rate of 1.15% and 2.27%, respectively, while its highest-yielding money market account earns at an APY of 0.75%. Given Planters Bank & Trust Company's noncompetitive savings rate, you should think about other options to earn more on your deposits.
How Planters Bank & Trust Company's Savings Rates Compare
Planters Bank & Trust Company generally has extremely low fees in comparison to other U.S. banks. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Planters Bank & Trust Company unfortunately doesn't refund out-of-network ATM charges, meaning you will have to find a Planters Bank & Trust Company ATM or accept the fee.
Planters Bank & Trust Company is a brick-and-mortar bank, with 20 total bank locations in Mississippi. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Planters Bank & Trust Company gets reasonably high marks from customers for its mobile app. The Planters Bank & Trust Company mobile app rates a 4.4 out of 5 (with 27 customer reviews on Apple and Android) compared to the national average of 3.8. You can utilize Planters Bank & Trust Company's app to control your finances by reviewing account balances, transferring money and reaching customer service. Planters Bank & Trust Company receives an excellent consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Planters Bank & Trust Company is currently a medium-size bank and owns assets totaling $1 billion as well as $887 million in deposits. Planters Bank & Trust Company has a strong Texas Ratio of 14.45%, suggesting a tiny possibility of failure. Additionally, Planters Bank & Trust Company 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.Back to Overview
Compare Planters Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.5% APY||$1|
|Checking Account||0.1% APY||$1|
|Certificates of Deposit|| ||$2500 for all terms|
|Money Market Accounts||0.75% APY 0.75% APY||$10000 $15000|
Planters Bank & Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Planters Bank & Trust Company does not have the best savings rate, which means you should think about 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. Planters Bank & Trust Company's CD rates are fair in comparison to the national average.Back to Overview
Find a Planters Bank & Trust Company Near Me
Planters Bank & Trust Company has 20 physical branches across the U.S.Back to Overview