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The Savings Bank Review

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


Established in 1912, The Savings Bank has $352 million in assets and $300 million in deposits, making it a small bank. The Savings Bank, whose headquarters are in Circleville, Ohio, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.3 stars out of 5, The Savings Bank should be solidly in contention for your choice of bank. The Savings Bank provides customers with a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Savings Bank has a fair savings rate compared to the average savings account. The bank's standard checking product carries a $2.00 monthly fee, which is acceptable compared to the average U.S. bank. Finding an institution with no-fee checking as well as a high interest rate savings account is the best bet for getting the highest income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, The Savings Bank ranks poorly in comparison to the national average. Its one-year CD earns at a rate of 1.26%, while its highest-yielding money market account has an APY of 0.14%. Given The Savings Bank's noncompetitive savings rate, you should think about other options to earn more on your deposits.

How The Savings Bank's Savings Rates Compare

The Savings Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, The Savings Bank charges its customers low fees compared to other U.S. banks. At $2.00/month, The Savings Bank's checking account is less than great for those who want a hassle-free banking experience. Also, The Savings Bank has an overdraft fee of $28.00, which is noticeably lower than the average U.S. overdraft fee. The Savings Bank doesn't refund out-of-network ATM fees, which means you'll have to locate a The Savings Bank ATM or pay the cost of withdrawal.

Monthly Fee $2.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $28.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

The Savings Bank is a brick-and-mortar bank, with five total bank locations in Ohio. It also offers access to mobile and web apps for a simple mobile-banking experience. The Savings Bank's online and mobile banking platforms receive great scores from users. Out of 8 customer reviews on iOS and Android platforms, the The Savings Bank mobile app rates a 4.8 out of 5 (compared to the national average of 3.8). The Savings Bank's mobile app allows you to manage your funds by checking account balances, sending and receiving funds and accessing customer service. The Savings Bank receives an outstanding consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

The Savings Bank ranks as a small bank and manages $352 million in assets and $300 million in deposits. The Savings Bank's Texas Ratio is 5.23%, denoting a small possibility of failure. Additionally, The 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

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 Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.51% APY
  • 36 Month: 3.04% APY
$1000 for all terms
Money Market Account 0.14% APY $2500

The Savings Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Savings 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 Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a The Savings Bank Near Me

The Savings Bank has five physical locations across the U.S.

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