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South Louisiana Bank Review

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South Louisiana Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1980, South Louisiana Bank has $462 million in assets as well as $394 million in deposits, ranking the institution as a medium-size bank. South Louisiana Bank, whose headquarters are in Houma, Louisiana, has above-average access to customer service with all-day support available, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 4.7 stars out of 5, South Louisiana Bank should be near the top of your list for your bank search. South Louisiana Bank offers a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. South Louisiana Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, South Louisiana Bank offers an option without a monthly fee. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for getting the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.7/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

With a savings rate of 0.35%, South Louisiana Bank ranks poorly in comparison to the average U.S. bank. South Louisiana Bank's CD rates are 1.80% and 2.40% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.60%. Given South Louisiana Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How South Louisiana Bank's Savings Rates Compare

South Louisiana Bank Savings 0.35 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

South Louisiana Bank has typically extremely low fees in comparison to the average U.S. bank. With no monthly fee, South Louisiana Bank's checking account is perfect for people who want an easy checking account. South Louisiana Bank unfortunately does not refund out-of-network ATM fees, which means you will be required to search for a South Louisiana 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

4.6
SmartAsset Average: 3.7

South Louisiana Bank is a brick-and-mortar bank, with seven total bank locations in Louisiana. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It provides all-day access to representatives. South Louisiana Bank's online and mobile banking platforms receive great feedback from users. The South Louisiana Bank mobile app rates a 4.7 out of 5 (with 26 customer reviews on Apple and Android) compared to the national average of 3.8. South Louisiana Bank's mobile app lets you manage your funds by looking at current statements, sending and receiving money and reaching customer service. South Louisiana Bank gets an outstanding consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

South Louisiana Bank is a medium-size bank with $462 million in assets as well as $394 million in deposits. Its Texas Ratio is 5.53%, denoting that South Louisiana Bank is in good financial shape and far from failure. Additionally, South Louisiana Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.53%
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.

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Compare South Louisiana Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $100
Checking Account 0.25% APY $2500
Certificates of Deposit
  • 12 Month: 1.80% APY
  • 24 Month: 2.20% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.40% APY
$1000 for all terms
Money Market Accounts 0.5% APY 0.6% APY $10000 $15000

South Louisiana Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. South Louisiana Bank 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. South Louisiana Bank's CD rates are fair compared to the national average.

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Find a South Louisiana Bank Near Me

South Louisiana Bank has seven physical branches across the U.S.

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