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TruPoint Bank Review

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TruPoint Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


TruPoint Bank started in 1975 and its headquarters are located in Grundy, Virginia. TruPoint Bank has assets of $416 million as well as $365 million in deposits, ranking it as a medium-size bank. TruPoint Bank 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 apps. With a score of 4.3 stars out of 5, TruPoint Bank should be solidly in contention for your choice of bank. TruPoint Bank provides customers with numerous banking products, including savings accounts, checking accounts, CDs, IRAs and mortgage products. TruPoint Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, TruPoint Bank's standard checking account does not have a monthly fee. Finding an institution with no-fee checking as well as a high interest rate savings account is your best bet for getting the most income on your deposits while having 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

TruPoint Bank has a savings rate of 0.25%, which is fair in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.75% and 1.25%, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How TruPoint Bank's Savings Rates Compare

TruPoint Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, TruPoint Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, TruPoint Bank is ideal for those who want a basic checking account. TruPoint Bank unfortunately doesn't refund out-of-network ATM fees, which means you will have to find a TruPoint Bank ATM or eat the withdrawal fee.

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

SmartAsset Average: 3.7

TruPoint Bank is a brick-and-mortar bank, with 13 total bank locations in North Carolina, Tennessee and Virginia. It also offers access to mobile and web apps for a simple mobile-banking experience. TruPoint Bank's online and mobile banking services get moderate feedback from users. With 19 ratings on both Apple and Android platforms, the TruPoint Bank mobile app has an overall rating of 3.6 out of 5 (compared to the national average of 3.8). TruPoint Bank's mobile app lets you control your finances by reviewing current statements, sending and receiving money and accessing customer service. TruPoint Bank receives an excellent consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

TruPoint Bank ranks as a medium-size bank owning assets totaling $416 million and deposits totaling $365 million. TruPoint Bank's Texas Ratio is 4.64%, denoting a negligible chance of failure. Additionally, TruPoint 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 TruPoint Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.1% APY $500
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.10% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

TruPoint Bank offers several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. TruPoint Bank does not have the best savings rate, which means you should think about looking 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. TruPoint Bank's CD rates are fair as compared against the national average.

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Find a TruPoint Bank Near Me

TruPoint Bank has 13 physical branches across the U.S.

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