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The Ephrata National Bank Review

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The Ephrata National Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Ephrata National Bank first started operating in 1881 and its headquarters are located in Ephrata, Pennsylvania. It manages assets of $1 billion as well as $868 million in deposits, which makes it a medium-size bank. The Ephrata National Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With an average 3.9 out of 5 stars, The Ephrata National Bank proves it is a respectable bank that gets the job done. The Ephrata National Bank has a full choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Finding an institution with no-fee checking and a high savings APY is your best bet for accruing the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

The Ephrata National Bank has a savings rate of 0.05%, which is fair compared to other U.S. banks. Its one-year CD earns at a rate of 0.25% and the five-year CD earns at a rate of 1.45%, while its highest-yielding money market account has a rate of 0.15%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How The Ephrata National Bank's Savings Rates Compare

The Ephrata National Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on The Ephrata National Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

3.8
SmartAsset Average: 3.7

The Ephrata National Bank is a brick-and-mortar bank, with 17 total branches in Pennsylvania. It also offers access to mobile and web apps for easy access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. The Ephrata National Bank's online and mobile banking services receive fair feedback from customers. With 43 ratings on both iOS and Android platforms, the The Ephrata National Bank mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). You can access The Ephrata National Bank's mobile app to manage your bank accounts by reviewing account balances, sending and receiving funds as well as accessing support representatives. The Ephrata National Bank gets a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
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

The Ephrata National Bank is currently a medium-size bank with assets totaling $1 billion as well as deposits totaling $868 million. Its Texas Ratio is 0.78%, signifying a minute chance of failure. Additionally, The Ephrata National 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 The Ephrata National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.75% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.45% APY
$500 for all terms
Money Market Account 0.15% APY $25000

The Ephrata National 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. The Ephrata National Bank does not have the best savings rate, which means you should consider 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. The Ephrata National Bank's CD rates are fair compared to other U.S. banks.

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Find a The Ephrata National Bank Near Me

The Ephrata National Bank has 17 physical branches in the U.S.

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