Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

PyraMax Bank Review

Your Details Done
by Updated
PyraMax Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

PyraMax Bank started in 1892 with its headquarters in Greenfield, Wisconsin. PyraMax Bank has assets of $466 million and deposits totaling $390 million, ranking it as a medium-size bank. PyraMax Bank has above-average customer service access with all-day support available, great for getting help during the work week. 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 3.9 out of 5 stars, PyraMax Bank proves it is a respectable bank that deserves your consideration. PyraMax Bank has the full 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 compared to the average savings account. The bank's standard checking product carries a monthly fee of $5.00, making it a rather pricey bank for checking. Institutions that offer free checking, in addition to a high savings APY are the best option for returning the most income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.7
SmartAsset Average: 3.5

PyraMax Bank features a savings rate of 0.05%, which is fair compared to the national average. PyraMax Bank's one-year CD earns at a rate of 1.50% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account has an APY of 0.25%. Given PyraMax Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How PyraMax Bank's Savings Rates Compare

PyraMax Bank Savings 0.05 National Average 0.26 Compare Offers
Back to Overview

Fees

3.5
SmartAsset Average: 4.4

On average, PyraMax Bank charges customers high fees in comparison to the average U.S. bank. At $5.00/month, PyraMax Bank is not great for those who want a basic banking experience. Also, it has an overdraft fee of $35.00, which is on par with the national average overdraft fee. PyraMax Bank doesn't reimburse out-of-network ATM charges, meaning you will have to search for a PyraMax Bank ATM or eat the cost of withdrawal.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
Back to Overview

Service Quality

3.7
SmartAsset Average: 3.7

PyraMax Bank is a brick-and-mortar bank, with nine total branches in Wisconsin. With mobile and web apps, PyraMax Bank makes account access straightforward, even on the go. It offers all-day access to representatives. PyraMax Bank's online and mobile banking services receive poor scores from users. The PyraMax Bank mobile app rates a 3.1 out of 5 (with 14 ratings on iOS and Android) compared to the national average of 3.8. You can access PyraMax Bank's app to manage your accounts by monitoring monthly statements, sending and receiving money and reaching customer service. PyraMax Bank gets an excellent consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

PyraMax Bank is currently a medium-size bank with $466 million in assets as well as deposits totaling $390 million. Its Texas Ratio is 4.46%, signifying a low probability of failure. Additionally, PyraMax Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.46%
High Risk 75% 50% 20% 10% Low Risk

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 PyraMax Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $250
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.75% APY
  • 36 Month: 2.00% APY
  • 48 Month: 2.25% APY
  • 60 Month: 2.50% APY
$1000 for all terms
Money Market Account 0.25% APY $10000

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

Back to Overview

Find a PyraMax Bank Near Me

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

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure