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Round Top State Bank Review

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Round Top State Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Round Top State Bank started in 1912 and has its headquarters in Round Top, Texas. Round Top State Bank owns assets of $525 million as well as $467 million in deposits, classifying it as a medium-size bank. Round Top State Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4.6 stars out of 5, Round Top State Bank should be near the top of your list for your bank search. Round Top State Bank offers an array banking products, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Round Top State Bank's ordinary checking account does not have a monthly fee. Locating 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 returning the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.6/5
National Average: 4.1

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

Rates

4.4
SmartAsset Average: 3.5

Round Top State Bank has a savings rate of 0.35%, which is fair in comparison to the national average. Its one-year CD has a rate of 1.73% and the five-year CD has a rate of 2.55%, while its highest-yielding money market account earns at an APY of 0.35%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Round Top State Bank's Savings Rates Compare

Round Top State Bank Savings 0.35 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Round Top State Bank charges its customers extremely low fees compared to the national average. With no monthly fee, Round Top State Bank's checking account is perfect for people who need a hassle-free banking experience. Round Top State Bank does not refund out-of-network ATM charges, which means you will have to find a Round Top State Bank ATM or eat the cost of withdrawal.

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

3.9
SmartAsset Average: 3.7

Round Top State Bank is a brick-and-mortar bank, with six total bank locations in Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. Round Top State Bank receives average feedback from users for its mobile banking services. With 9 customer reviews on Apple and Android platforms, the Round Top State Bank mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). Round Top State Bank's mobile app allows you to manage your accounts by checking current statements, transferring money as well as reaching customer service. Round Top State Bank receives an excellent consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.8/5
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

Round Top State Bank ranks as a medium-size bank with $525 million in assets as well as $467 million in deposits. Its Texas Ratio is 0.03%, denoting that the bank is in terrific financial condition and improbable to fail. Additionally, Round Top State 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 Round Top State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $100
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 1.73% APY
  • 24 Month: 1.65% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.55% APY
$1000 for all terms
Money Market Account 0.25% APY $2500

Round Top State Bank offers several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. Round Top State Bank does not have the best savings rate, which means you should consider 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. Round Top State Bank's CD rates are fair compared to the national average.

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Find a Round Top State Bank Near Me

Round Top State Bank has six physical locations in the U.S.

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