Bath Savings Institution Review

Bath Savings Institution Savings

0.05% APY

Established in 1852, Bath Savings Institution Bank has assets totaling $1.35 billion along with deposits totaling $1.05 billion, making it a medium-size bank. Bath Savings Institution, whose headquarters are in Bath, Maine, 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 apps. We ranked the bank at a 4.2 stars out of 5, suggesting Bath Savings Institution is a great choice and should warrant serious consideration. 

Bath Savings Institution offers a complete selection of product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Bath Savings Institution has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Bath Savings Institution offers an option without a maintenance or monthly fee. Why use checking and savings accounts with one bank? Fast transferring of funds between both accounts translates to higher interest rates in your savings account with the option of spending from your checking.

Service Quality

Bath Savings Institution Bank is a brick-and-mortar bank, with 13 total bank locations in Maine. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. ET; Saturday, 9:00 a.m. to 12:00 p.m. ET. 

Bath Savings Institution's online and mobile banking services get fair marks from customers: the Bath Savings Institution mobile app scored a 3.7 out of 5 (out of 43 reviews on Apple and Android) compared to the national average of 3.8. You can use Bath Savings Institution's app to manage your funds by reviewing current statements, transferring money and accessing customer service. Bath Savings Institution gets an exceptional consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Bath Savings Institution Bank has several deposit products like savings accounts, checking accounts and CDs, providing you with many options to manage your money. Bath Savings Institution does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Bath Savings Institution's CD rates are fair in comparison to the average U.S. bank.

Rates

Bath Savings Institution has a savings rate of 0.05%, which is fair compared to the national average. Its one-year CD has a rate of 2.27% and the five-year CD earns at a rate of 2.73%. Given Bath Savings Institution's noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

Fees

Bath Savings Institution Bank has typically extremely low fees compared to other U.S. banks. Bath Savings Institution's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. For those who use cash often, Bath Savings Institution is good because it has an ATM fee of $1.00, which is solid compared to the average U.S. bank. Also, at $33, Bath Savings Institution has a significantly lower overdraft fee compared to that of other U.S. banks, making it perfect for those who spend a lot of money on their debit card. 

Financial Health

Bath Savings Institution is currently a medium-size bank and handles $1.35 billion in assets and deposits totaling $1.05 billion. Bath Savings Institution's Texas Ratio is 0.30%, denoting an extremely minute probability of failure. Additionally, Bath Savings Institution is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Bath Savings Institution Near Me

Bath Savings Institution has 13 branches in the U.S.