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The Ephrata National Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The Ephrata National Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1881, The Ephrata National Bank has assets totaling $1 billion and $868 million in deposits, making the institution a medium-size bank. The Ephrata National Bank, whose headquarters are in Ephrata, Pennsylvania, lacks premium access to support representatives, 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. We gave the bank a 3.9 stars out of 5, suggesting The Ephrata National Bank is a good bank that warrants your consideration. The Ephrata National Bank has a full suite of product offerings, including 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. Banks that offer no-fee checking, in addition to a high interest rate savings account are your best option for accruing the most income from your deposits while maintaining convenient access to your funds.

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

With a savings rate of 0.05%, The Ephrata National Bank ranks poorly in comparison to other U.S. banks. The Ephrata National Bank's one-year and five-year term lengths CDs earn at a rate of 0.25% and 1.45%, respectively, while its highest-yielding money market account earns at a rate of 0.15%. Given The Ephrata National Bank's noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

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 bank locations in Pennsylvania. With mobile and web apps, The Ephrata National Bank makes account access straightforward, even on the go. It does not have all-day customer service with representatives. You can get help during its 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 receives average feedback from customers for its mobile platform. The The Ephrata National Bank mobile app has been given a 3.7 out of 5 (out of 43 customer reviews on Apple and Android) compared to the national average of 3.8. The Ephrata National Bank's mobile app lets you control your funds by reviewing monthly statements, sending and receiving money and accessing support representatives. The Ephrata National Bank receives an excellent consumer satisfaction score based on comparatively few complaints brought to 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 ranks as a medium-size bank with $1 billion in assets and $868 million in deposits. The Ephrata National Bank's Texas Ratio is 0.78%, suggesting a negligible possibility 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 Accounts 0.15% APY 0.15% APY $10000 $15000

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 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. The Ephrata National Bank's CD rates are fair in comparison to other U.S. banks.

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Find a The Ephrata National Bank Near Me

The Ephrata National Bank has 17 branches across the U.S.

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