Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

Apple Bank for Savings Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Apple Bank for Savings Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1863, Apple Bank for Savings has assets totaling $13 billion and deposits totaling $12 billion, which makes it a very large bank. Apple Bank for Savings, whose headquarters are in Manhasset, New York, lacks premium access to support representatives, 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. At a SmartAsset rating of 4.3 stars out of 5, Apple Bank for Savings should be solidly in contention for your choice of bank. Apple Bank for Savings offers a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Apple Bank for Savings has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Apple Bank for Savings's standard checking does not have a monthly maintenance charge. Institutions that offer no-fee checking, in addition to a high savings APY are the best option for returning the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

With a savings rate of 0.01%, Apple Bank for Savings ranks poorly in comparison to the national average. Apple Bank for Savings's one-year CD earns at a rate of 0.60%. Given Apple Bank for Savings's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Apple Bank for Savings's Savings Rates Compare

Apple Bank for Savings Savings 0.01 National Average 0.09 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

On average, Apple Bank for Savings charges customers extremely low fees compared to other U.S. banks. With no monthly fee, Apple Bank for Savings's checking account is ideal for people who want an easy banking experience. Apple Bank for Savings doesn't reimburse out-of-network ATM fees, which means you'll need to find an Apple Bank for Savings ATM or accept the ATM charge.

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
Back to Overview

Service Quality

3.0
SmartAsset Average: 3.7

Apple Bank for Savings is a brick-and-mortar bank, with 80 total branches in , , , , and . It also offers access to mobile and web apps for easy access and banking on the go. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:30 a.m. to 9:00 p.m. ET; Saturday, and 9:00 a.m. to 3:00 p.m. ET. Apple Bank for Savings's online and mobile banking services receive mediocre scores from users. The Apple Bank for Savings mobile app has been given a 3.3 out of 5 (with 86 ratings on iOS and Android) compared to the national average of 3.8. You can utilize Apple Bank for Savings's mobile app to manage your funds by reviewing account balances, sending and receiving money and reaching support representatives. Apple Bank for Savings gets an excellent consumer satisfaction rating based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 4.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

Apple Bank for Savings is a very large bank owning assets totaling $13 billion as well as $12 billion in deposits. Apple Bank for Savings's Texas Ratio is 0.22%, suggesting that the bank is in superb financial shape and far from failure. Additionally, Apple Bank for Savings 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 Apple Bank for Savings to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $250
Checking Account 0.01% APY $2500
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 1.01% APY
$1000 for all terms

Apple Bank for Savings offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Apple Bank for Savings 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. Apple Bank for Savings's CD rates are fair compared to the national average.

Back to Overview

Find a Apple Bank for Savings Near Me

Apple Bank for Savings has 80 physical branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure