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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

Founded in 1902, The Central Trust Bank has $3 billion in assets and deposits totaling $2 billion, ranking it as a large bank. The Central Trust Bank, whose headquarters are in Jefferson City, Missouri, 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 apps. At a SmartAsset rating of 4.2 stars out of 5, The Central Trust Bank should be solidly in contention for your choice of bank. The Central Trust Bank offers the average suite of banking products, which include savings accounts, checking accounts, IRAs, mortgage products and credit cards. The Central Trust Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's most basic checking account does not have a monthly maintenance fee. Obtaining a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best bet for accruing 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

2.9
SmartAsset Average: 3.5

The Central Trust Bank has a savings rate of 0.10%, which is poor in comparison 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 a rate of 0.20%. Given The Central Trust Bank's below average savings rate, you should think about 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 generally has extremely low fees compared to the national average. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. The Central Trust Bank doesn't reimburse out-of-network ATM fees, meaning you will be required to find a The Central Trust Bank ATM or pay 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

3.9
SmartAsset Average: 3.7

The Central Trust Bank is a brick-and-mortar bank, with 14 total branches in Missouri. With mobile and web apps, The Central Trust Bank makes mobile banking convenient, even on the go. The Central Trust Bank's online and mobile banking platforms get fair feedback from users. Out of 800 customer reviews on both Apple and Android platforms, the The Central Trust Bank mobile app is scored at 3.9 out of 5 (compared to the national average of 3.8). The Central Trust Bank's mobile app allows you to manage your finances by checking account balances, sending and receiving funds as well as reaching support representatives. The Central Trust Bank gets a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial 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 currently a large bank with $3 billion in assets and deposits totaling $2 billion. It has an excellent Texas Ratio of 3.21%, denoting a minute 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 including savings accounts and checking accounts. The Central Trust Bank does not have the best savings rate, which means you should consider 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. The Central Trust Bank's CD rates are fair as compared against the national average.

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Find a The Central Trust Bank Near Me

The Central Trust Bank has 14 physical branches in the U.S.

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