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Athol Savings Bank Review

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Athol Savings Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1867, Athol Savings Bank has $416 million in assets as well as deposits totaling $329 million, ranking the institution as a medium-size bank. Athol Savings Bank, whose headquarters are in Athol, Massachusetts, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated the bank 4.2 out of 5 stars, which means Athol Savings Bank is a solid contender in your bank search. Athol Savings Bank offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Athol Savings 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, Athol Savings Bank's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is your best bet for accruing the most income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, Athol Savings Bank ranks poorly compared to the average U.S. bank. Athol Savings Bank's one-year and five-year term lengths CDs earn at a rate of 0.40% and 1.50%, respectively, while its highest-yielding money market account earns at a rate of 0.15%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How Athol Savings Bank's Savings Rates Compare

Athol Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.6
SmartAsset Average: 4.4

Athol Savings Bank charges its customers extremely low fees as compared against the national average. Athol Savings Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. For those who frequent the ATM, Athol Savings Bank is good because it has an out-of-network ATM fee of $1.00, which is solid in comparison to the average U.S. bank. Also, it has an overdraft fee of $32.00, which is lower than the national average. Athol Savings Bank does not reimburse out-of-network ATM charges, which means you will be required to find an Athol Savings Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Athol Savings Bank is a brick-and-mortar bank, with eight total branches in Massachusetts. With mobile and web apps, Athol Savings Bank makes mobile banking convenient, even on the go. Athol Savings Bank's online and mobile banking platforms get high praise from users. Out of 490 customer reviews on both Apple and Android platforms, the Athol Savings Bank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). You can use Athol Savings Bank's app to control your funds by looking at current statements, transferring funds as well as reaching support representatives. Athol Savings Bank gets an excellent consumer satisfaction rating due to 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 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Athol Savings Bank ranks as a medium-size bank with $416 million in assets as well as deposits totaling $329 million. Athol Savings Bank has an excellent Texas Ratio of 1.06%, suggesting that Athol Savings Bank is in excellent financial well-being and improbable to fail. Additionally, Athol Savings Bank 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.

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Compare Athol Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.1% APY $10
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.79% APY
  • 36 Month: 1.00% APY
  • 60 Month: 1.50% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Athol Savings Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Athol Savings Bank 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. Athol Savings Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Athol Savings Bank Near Me

Athol Savings Bank has eight physical locations across the U.S.

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