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The Central Trust Bank Review

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The Central Trust Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Central Trust Bank first started operating in 1902 and its headquarters are located in Jefferson City, Missouri. It owns $3 billion in assets and deposits totaling $2 billion, which makes it a large bank. The Central Trust Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We ranked The Central Trust Bank at a 4.2 stars out of 5, indicating that it is a solid pick to be your bank. The Central Trust Bank provides customers with a basic array of product offerings, including savings accounts, checking accounts, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, The Central Trust Bank's most basic checking does not carry a monthly fee. Banks that offer free checking, in addition to a high interest rate savings account are the best option for accruing the highest income from your deposits while maintaining 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

2.9
SmartAsset Average: 3.5

The Central Trust Bank features a savings rate of 0.10%, which is fair compared to the average U.S. bank. The Central Trust Bank's CD rates are 0.35% and 0.80% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How The Central Trust Bank's Savings Rates Compare

The Central Trust Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

The Central Trust Bank has typically extremely low fees in comparison to the average U.S. bank. With no monthly fee, The Central Trust Bank is perfect for those who want a basic banking experience. The Central Trust Bank does not reimburse out-of-network ATM charges, which means you'll need to find a The Central Trust Bank ATM or accept the ATM charge.

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

3.9
SmartAsset Average: 3.7

The Central Trust Bank is a brick-and-mortar bank, with 14 total bank locations in Missouri. It also offers access to mobile and web apps for simple access and banking on the go. The Central Trust Bank's online and mobile banking services receive moderate scores from users. Out of 800 ratings across both Apple and Android platforms, the The Central Trust Bank mobile app rates a 3.9 out of 5 (compared to the national average of 3.8). The Central Trust Bank's mobile app lets you control your funds by checking monthly statements, transferring funds and reaching customer service. The Central Trust Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The Central Trust Bank is a large bank owning $3 billion in assets as well as deposits totaling $2 billion. Its Texas Ratio is 3.21%, denoting a negligible chance of failure. Additionally, The Central Trust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.21%
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 The Central Trust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.70% APY
  • 60 Month: 0.80% APY
$1000 for all terms
Money Market Account 0.13% APY $10000

The Central Trust Bank has a basic array of deposit products like savings accounts and checking accounts. The Central Trust Bank 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. The Central Trust Bank's CD rates are fair compared to the average U.S. bank.

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Find a The Central Trust Bank Near Me

The Central Trust Bank has 14 physical locations across the U.S.

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