Home Savings Bank

Overview / Commentary
3539 South Main Street
Salt Lake City, UT 84165

Home Savings Bank is headquartered in SALT LAKE CITY and is the 39th largest bank in the state of Utah. It is also the 3,689th largest bank in the nation. It was established in 1979 and as of March of 2024, it had grown to 10 employees at 1 location. Home Savings Bank's money market rates are 7X the national average, and it has a B+ health rating.

Reviews (1)

Disorganized And Unprofessional

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I filled out an online application for a CD and waited three days. No email to confirm application or even a later response to a message, so I phoned to inquire. I was transferred a few times and couldn’t initially get confirmation on what stage my application was in. I also remembered that I had a voluntary credit freeze with all three main bureaus for security and asked which one that they used so I could lift it. The representative wasn’t sure and provided a guess. So I pressed further and was told that I “probably would have to submit another application”.

This didn’t demonstrate the best professionalism of a bank that you might give a mid five figure deposit to, so I ultimately requested that my application be cancelled (because they already had my ACH information). Even that simple request took several minutes to track down and process. Yes, it was found to have been rejected due to my credit freeze, but NO NOTIFICATION SENT. I tried one last ditch attempt for them to keep my business and it failed, as they stated that although they now had the application in front of them, no manual override was available.

For just a few tenths of a point in intrest, doing business with Home Savings Bank wasn’t worth it for the low confidence that they exhibited. I went back to my main bank who appreciated the business and funded my CD that same day.


Health Grade Components

FDIC Certificate #26798
Year Established1979
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD3.54%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$121.3MM$118.4MM
LoansQ1 2024vs Q1 2023$103.1MM$103.3MM
DepositsQ1 2024vs Q1 2023$76.7MM$77.3MM
Equity CapitalQ1 2024vs Q1 2023$18.1MM$18MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1MM$1.2MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$0$0
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Home Savings Bank Money Market Rates

3.00%*$250k*-Money Market Account
OTHER TIERS: 1.00% $2.5k - $25k | 2.00% $25k - $100k | 2.50% $100k - $250k

Home Savings Bank CD Rates

5.25%$5k-6 Month CD
5.25%$5k-12 Month CD
5.25%$5k$250k6 Month Internet Only CD
5.25%$5k$250k12 Month Internet Only CD
4.75%$5k-18 Month CD
4.75%$5k$250k18 Month Internet Only CD
4.50%$5k-24 Month CD
4.50%$5k$250k24 Month Internet Only CD
4.00%$5k-21 Month "Bump It Up" CD
3.00%$5k-36 Month CD
3.00%$5k-48 Month CD
3.00%$5k-60 Month CD
3.00%$5k$250k36 Month Internet Only CD
3.00%$5k$250k48 Month Internet Only CD
3.00%$5k$250k60 Month Internet Only CD

Home Savings Bank IRA Rates

5.25%$5k-6 Month IRA
5.25%$5k$250k6 Month Internet Only IRA
5.25%$5k-12 Month IRA
5.25%$5k$250k12 Month Internet Only IRA
4.75%$5k-18 Month IRA
4.75%$5k$250k18 Month Internet Only IRA
4.50%$5k-24 Month IRA
4.50%$5k$250k24 Month Internet Only IRA
3.00%$5k-36 Month IRA
3.00%$5k-48 Month IRA
3.00%$5k$250k48 Month Internet Only IRA
3.00%$5k-60 Month IRA
3.00%$5k$250k60 Month Internet Only IRA
3.00%$5k$250k36 Month Internet Only IRA

Home Savings Bank Locations
Home Savings Bank3539 S Main StSalt Lake City, UT 84115

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