Started in 2002, Signature Bank has $812 million in assets and deposits totaling $726 million, classifying it as a medium-size bank. Signature Bank, whose headquarters are in Toledo, Ohio, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at an average 3.9 stars out of 5, Signature Bank proves it is a respectable bank that gets the job done. Signature Bank has a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. Locating an institution with no-fee checking and a high interest rate savings account is your best option for returning the most income on your deposits alongside easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Signature Bank has a savings rate of 0.40%, which is poor in comparison to other U.S. banks. Signature Bank's one-year CD earns at a rate of 1.70% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account has a rate of 0.50%. 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 branches in Ohio. It also offers access to mobile and web apps for easy access and banking on the go. Signature Bank's mobile app allows you to manage your accounts by reviewing current statements, transferring money and accessing customer service. Signature Bank receives a superb consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Signature Bank is a medium-size bank and has $812 million in assets as well as deposits totaling $726 million. Signature Bank has an excellent Texas Ratio of 0.60%, denoting that Signature Bank is in excellent financial shape and unlikely to fail. 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||0.4% APY||$2500|
|Checking Account||0.25% APY||$2500|
|Certificates of Deposit|| ||$5000 for all terms|
|Money Market Accounts||0.45% APY 0.5% APY||$10000 $15000|
Signature Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you 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 as compared against the national average.Back to Overview
Find a Signature Bank Near Me
Signature Bank has two locations in the U.S.Back to Overview