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Brookline Bank Review

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Brookline Bank Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Brookline Bank started in 1871 and has its headquarters in Brookline, Massachusetts. Brookline Bank handles $4 billion in assets and deposits totaling $3 billion, which makes it a large bank. Brookline Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4 out of 5 stars, Brookline Bank should be near the middle of the pack in your search for a bank. Brookline Bank offers a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Brookline Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same institution is your best bet for gaining the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.01%, Brookline Bank ranks poorly compared to other U.S. banks. Brookline Bank's one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.75%, respectively, while its highest-yielding money market account earns at a rate of 0.60%. Given Brookline Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How Brookline Bank's Savings Rates Compare

Brookline Bank Savings 0.01 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Brookline Bank charges customers extremely low fees compared to the national average. Brookline Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Additionally, at $35.00, Brookline Bank's overdraft fee is lower than the national average. Brookline Bank does not reimburse out-of-network ATM fees, meaning you will need to find a Brookline 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 $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Brookline Bank is a brick-and-mortar bank, with 27 total bank locations in Massachusetts. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 2:00 p.m. ET. Brookline Bank receives inferior feedback from users for its online presence. Out of 38 customer reviews on both Apple and Android platforms, the Brookline Bank mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). You can use Brookline Bank's app to manage your funds by monitoring account balances, transferring funds as well as accessing support representatives. Brookline Bank gets an excellent consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Brookline Bank is a large bank owning $4 billion in assets and $3 billion in deposits. Its Texas Ratio is 3.90%, signifying that Brookline Bank is in outstanding financial condition and unlikely to fail. Additionally, Brookline Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

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 Brookline Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $100
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.90% APY
  • 36 Month: 1.25% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Account 0.25% APY $10000

Brookline Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Brookline Bank does not have the best savings rate, which means you should consider taking a look 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. Brookline Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Brookline Bank Near Me

Brookline Bank has 27 physical branches in the U.S.

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