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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 first started operating in 1975 and has its headquarters in Grundy, Virginia. It manages assets of $416 million and $365 million in deposits, ranking it as a medium-size bank. TruPoint Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave the bank a 4.3 out of 5 stars, suggesting TruPoint Bank is a solid pick to be your bank. TruPoint Bank offers an array banking products, including savings accounts, checking accounts, CDs, IRAs and mortgage products. TruPoint Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, TruPoint Bank's standard checking account does not have a monthly fee. Using a bank with no-fee checking as well as a high savings APY is your best option for accruing the highest income from 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

TruPoint Bank features a savings rate of 0.25%, which is fair compared to other U.S. banks. TruPoint Bank's one-year CD has a rate of 0.75% and the five-year CD earns at a rate of 1.25%, while its highest-yielding money market account earns at an APY of 0.20%. Given TruPoint Bank's poor savings rate, you should consider taking a look at other banks for savings accounts.

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

TruPoint Bank charges its customers extremely low fees in comparison to the national average. With no monthly fee, TruPoint Bank is ideal for those who want a simple checking account. TruPoint Bank does not reimburse out-of-network ATM charges, which means you'll be required to search for a TruPoint Bank ATM or accept 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. With mobile and web apps, TruPoint Bank makes account access convenient, even on the go. TruPoint Bank's online and mobile banking platforms get fair feedback from customers. The TruPoint Bank mobile app is rated at 3.6 out of 5 (out of 19 customer reviews on iOS and Android) compared to the national average of 3.8. TruPoint Bank's mobile app allows you to control your funds by reviewing current statements, transferring money as well as accessing support representatives. TruPoint Bank receives a superb consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 is currently a medium-size bank with $416 million in assets as well as $365 million in deposits. Its Texas Ratio is 4.64%, indicating that TruPoint Bank is in excellent financial health and improbable to fail. 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 has 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 consider 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 in comparison to the average U.S. bank.

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Find a TruPoint Bank Near Me

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

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