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Territorial Savings Bank Review

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Territorial Savings Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Territorial Savings Bank started in 1921 with its headquarters in Honolulu, Hawaii. It has assets of $2 billion and $2 billion in deposits, which makes it a large bank. Territorial Savings Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.2 out of 5 stars, Territorial Savings Bank should be solidly in contention for your choice of bank. Territorial Savings Bank provides customers with an array product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Territorial Savings Bank offers an option without a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best option for returning the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

Territorial Savings Bank features a savings rate of 0.25%, which is fair in comparison to other U.S. banks. Territorial Savings Bank's one-year CD has a rate of 0.50% and the five-year CD has a rate of 0.90%, while its highest-yielding money market account earns at an APY of 0.05%. Given its poor savings rate, you should consider other options to earn more on your deposits.

How Territorial Savings Bank's Savings Rates Compare

Territorial Savings Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Territorial Savings Bank typically has extremely low fees compared to the national average. With no monthly fee, Territorial Savings Bank is perfect for those who want a simple checking account. Territorial Savings Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll have to search for a Territorial Savings Bank ATM or accept the withdrawal fee.

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

3.3
SmartAsset Average: 3.7

Territorial Savings Bank is a brick-and-mortar bank, with 30 total bank locations in Hawaii. With mobile and web apps, Territorial Savings Bank makes account access straightforward, even on the go. Territorial Savings Bank's online and mobile banking platforms get poor feedback from customers. The Territorial Savings Bank mobile app has been given a 2.8 out of 5 (with 49 customer reviews on Apple and Android) compared to the national average of 3.8. You can access Territorial Savings Bank's app to manage your finances by reviewing current statements, sending and receiving money as well as accessing customer service. Territorial Savings Bank gets a superb consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.8/5
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

Territorial Savings Bank is currently a large bank and manages assets totaling $2 billion as well as deposits totaling $2 billion. Territorial Savings Bank's Texas Ratio is 1.98%, suggesting that the bank is in excellent financial shape and improbable to fail. Additionally, Territorial Savings 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 Territorial Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.02% APY $1
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.70% APY
  • 48 Month: 0.80% APY
  • 60 Month: 0.90% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

Territorial Savings Bank offers several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Territorial Savings Bank does not have the best savings rate, which means you should think about other options 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. Territorial Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a Territorial Savings Bank Near Me

Territorial Savings Bank has 30 locations across the U.S.

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