Established in 1906, Troy Bank & Trust Company has assets totaling $900 million as well as deposits totaling $773 million, which makes the institution a medium-size bank. Troy Bank & Trust Company, whose headquarters are in Troy, Alabama, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, Troy Bank & Trust Company is a solid contender in your bank search, with a rating of 4.3 out of 5 stars from the SmartAsset team. Troy Bank & Trust Company has a complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Troy Bank & Trust Company has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly charge. Finding an institution with no-fee checking, in addition to a high interest rate savings account is the best bet for returning the highest income on your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.35%, Troy Bank & Trust Company ranks poorly compared to the national average. Its one-year CD earns at a rate of 1.51% and the five-year CD earns at a rate of 2.01%, while its highest-yielding money market account has a rate of 0.50%. Given Troy Bank & Trust Company's below average savings rate, you should consider opting for higher earning savings accounts with other banks.
How Troy Bank & Trust Company's Savings Rates Compare
Troy Bank & Trust Company charges customers extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Troy Bank & Trust Company unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll be required to search for a Troy Bank & Trust Company ATM or pay the ATM charge.
Troy Bank & Trust Company is a brick-and-mortar bank, with 11 total bank locations in Alabama. It also offers access to mobile and web apps for an easy mobile-banking experience. Troy Bank & Trust Company receives poor feedback from customers for its mobile banking services. Out of 36 ratings across both iOS and Android platforms, the Troy Bank & Trust Company mobile app rates a 3.2 out of 5 (compared to the national average of 3.8). Troy Bank & Trust Company's mobile app lets you control your funds by checking monthly statements, sending and receiving money as well as accessing support representatives. Troy Bank & Trust Company receives a superb consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Troy Bank & Trust Company ranks as a medium-size bank owning $900 million in assets and deposits totaling $773 million. Its Texas Ratio is 8.26%, suggesting a small chance of failure. Additionally, Troy Bank & Trust Company 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.Back to Overview
Compare Troy Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.35% APY||$100|
|Checking Account||0.25% APY||$2000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.35% APY 0.5% APY||$10000 $15000|
Troy Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Troy Bank & Trust Company 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. Troy Bank & Trust Company's CD rates are fair compared to the national average.Back to Overview
Find a Troy Bank & Trust Company Near Me
Troy Bank & Trust Company has 11 physical branches in the U.S.Back to Overview