Signature Bank first started operating in 2002 and is headquartered in Toledo, Ohio. Signature Bank has assets of $812 million along with deposits totaling $726 million, ranking it as a medium-size bank. Signature Bank lacks premium access to customer service, 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. With a score of 3.9 out of 5 stars, Signature Bank should be near the middle of the pack in your search for a bank. Signature Bank has a variety of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Signature Bank has a fair savings rate compared to the average savings account. Locating an institution with no-fee checking as well as a high savings APY is the best bet for returning the highest income from your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Signature Bank has a savings rate of 0.30%, which is fair compared to the average U.S. bank. Signature Bank's one-year CD has a rate of 1.50% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account has an APY of 0.40%. Given its below average savings rate, you should consider other options to earn more on your deposits.
How Signature Bank's Savings Rates Compare
There is insufficient data on Signature Bank's fees to provide a full SmartAsset rating.
Signature Bank is a brick-and-mortar bank, with two total bank locations in Ohio. It also offers access to mobile and web apps for simple access and banking on the go. You can utilize Signature Bank's mobile app to manage your funds by reviewing monthly statements, sending and receiving money and accessing support representatives. Signature Bank gets an outstanding consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Signature Bank ranks as a medium-size bank with assets totaling $812 million as well as deposits totaling $726 million. It has an excellent Texas Ratio of 0.60%, indicating a low probability of failure. Additionally, Signature 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.Back to Overview
Compare Signature Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.3% APY||$2500|
|Checking Account||0.2% APY||$2500|
|Certificates of Deposit|| ||$5000 for all terms|
|Money Market Account||0.35% APY||$2500|
Signature Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Signature Bank does not have the best savings rate, which means you should think about 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. Signature Bank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Signature Bank Near Me
Signature Bank has two physical branches across the U.S.Back to Overview