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SpiritBank Review

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SpiritBank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1916, SpiritBank has $670 million in assets along with deposits totaling $544 million, making the institution a medium-size bank. SpiritBank, whose headquarters are in Tulsa, Oklahoma, has above-average access to customer service with all-day support available, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.2 stars out of 5, SpiritBank proves it is a solid pick to be your bank. SpiritBank provides customers with a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, SpiritBank offers an option without a monthly fee. Locating an institution with free checking and a high savings APY is your best bet for getting the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

SpiritBank features a savings rate of 0.10%, which is fair in comparison to other U.S. banks. Its one-year CD earns at a rate of 1.15% and the five-year CD earns at a rate of 1.90%, while its highest-yielding money market account has an APY of 0.30%. Given SpiritBank's poor savings rate, you should think about looking elsewhere to open savings accounts.

How SpiritBank's Savings Rates Compare

SpiritBank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

SpiritBank charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, SpiritBank's checking account is perfect for people who want a hassle-free checking account. For those who withdraw money often, it is solid because it has an out-of-network ATM fee of $1.00, which is good compared to the average U.S. bank. Additionally, it has an overdraft fee of $29.00, which is considerably less than the national average overdraft fee. SpiritBank unfortunately does not reimburse out-of-network ATM fees, which means you'll be required to search for a SpiritBank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $29.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

SpiritBank is a brick-and-mortar bank, with seven total bank locations in Oklahoma. With mobile and web apps, SpiritBank makes mobile banking convenient, even on the go. It offers all-day customer service. SpiritBank's online and mobile banking services get high praise from customers. The SpiritBank mobile app has been given a 4.5 out of 5 (out of 39 ratings on iOS and Android) compared to the national average of 3.8. You can access SpiritBank's mobile app to control your bank accounts by checking monthly statements, transferring money and reaching customer service. SpiritBank gets an outstanding 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 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

SpiritBank is currently a medium-size bank owning assets totaling $670 million as well as deposits totaling $544 million. SpiritBank's Texas Ratio is 23.05%, denoting that SpiritBank is in decent financial condition. Additionally, SpiritBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 SpiritBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1000
Checking Account 0.05% APY $1500
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 1.40% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.70% APY
  • 60 Month: 1.90% APY
$2500 for all terms
Money Market Account 0.2% APY $5000

SpiritBank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. SpiritBank does not have the best savings rate, which means you should consider 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. SpiritBank's CD rates are fair compared to other U.S. banks.

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Find a SpiritBank Near Me

SpiritBank has seven physical locations across the U.S.

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