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Bridgewater Savings Bank Review

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

Overview

Bridgewater Savings Bank first started operating in 1872 with headquarters in Raynham, Massachusetts. Bridgewater Savings Bank owns $576 million in assets as well as deposits totaling $441 million, which makes it a medium-size bank. Bridgewater Savings Bank lacks premium access to customer service, 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. On the whole, Bridgewater Savings Bank is a great bank that you should seriously consider, with a score of 4.2 stars out of 5 from the SmartAsset team. Bridgewater Savings Bank offers a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Bridgewater Savings Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Bridgewater Savings Bank's standard checking account does not have a monthly fee. Banks that offer free checking and a high savings APY are the best bet for gaining the highest 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%, Bridgewater Savings Bank ranks poorly compared to other U.S. banks. Bridgewater Savings Bank's one-year and five-year term lengths CDs earn at a rate of 0.75% and 2.00%, respectively, while its highest-yielding money market account has a rate of 0.10%. Given Bridgewater Savings Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Bridgewater Savings Bank's Savings Rates Compare

Bridgewater Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Bridgewater Savings Bank charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, Bridgewater Savings Bank's checking account is perfect for those who want a hassle-free banking experience. Bridgewater Savings Bank doesn't reimburse out-of-network ATM fees, which means you'll have to find a Bridgewater Savings Bank ATM or eat the cost of withdrawal.

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

3.8
SmartAsset Average: 3.7

Bridgewater Savings Bank is a brick-and-mortar bank, with eight total branches in Massachusetts. With mobile and web apps, Bridgewater Savings Bank makes account access straightforward, even 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 Wednesday, 8:00 a.m. to 5:00 p.m. ET; Thursday and Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:30 a.m. to 12:30 p.m. ET. Bridgewater Savings Bank gets average reviews from users for its mobile platform. Out of 24 customer reviews across both iOS and Android platforms, the Bridgewater Savings Bank mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). Bridgewater Savings Bank's mobile app lets you manage your funds by checking account balances, transferring money as well as reaching customer service. Bridgewater Savings Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
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

Bridgewater Savings Bank is a medium-size bank owning assets totaling $576 million and $441 million in deposits. Bridgewater Savings Bank's Texas Ratio is 1.42%, denoting that Bridgewater Savings Bank is in terrific financial condition and improbable to fail. Additionally, Bridgewater 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 Bridgewater 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 0.01% APY $10
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.25% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.75% APY
  • 60 Month: 2.00% APY
$2000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

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

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Find a Bridgewater Savings Bank Near Me

Bridgewater Savings Bank has eight locations across the U.S.

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