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Chain Bridge Bank Review

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Chain Bridge Bank Savings
0.94% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 2007, Chain Bridge Bank has assets totaling $604 million as well as $551 million in deposits, classifying the institution as a medium-size bank. Chain Bridge Bank, whose headquarters are in Mclean, Virginia, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. On the whole, Chain Bridge Bank is an exceptional bank that you should strongly consider, with a rating of 4.8 stars out of 5 from our experts. Chain Bridge Bank offers a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. Chain Bridge 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, Chain Bridge Bank's ordinary checking account does not have a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best option for returning the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.8/5
National Average: 4.1

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

Rates

4.6
SmartAsset Average: 3.5

Chain Bridge Bank features a savings rate of 0.94%, which is fair compared to the average U.S. bank. Chain Bridge Bank's one-year CD has a rate of 2.25% and the five-year CD earns at a rate of 2.60%, while its highest-yielding money market account has an APY of 0.71%. Given Chain Bridge Bank's below average savings rate, you should consider looking at the competition to open savings accounts.

How Chain Bridge Bank's Savings Rates Compare

Chain Bridge Bank Savings 0.94 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Chain Bridge Bank has typically extremely low fees in comparison to other U.S. banks. With no monthly fee, Chain Bridge Bank's checking account is ideal for people who need a hassle-free checking account. Chain Bridge Bank doesn't refund out-of-network ATM fees, which means you'll have to find a Chain Bridge Bank 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
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Service Quality

4.5
SmartAsset Average: 3.7

Chain Bridge Bank is a brick-and-mortar bank, with one total branches in Virginia. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Chain Bridge Bank gets great scores from users for its mobile app. With 8 customer reviews on iOS and Android platforms, the Chain Bridge Bank mobile app rates a 5.0 out of 5 (compared to the national average of 3.8). Chain Bridge Bank's mobile app lets you control your finances by checking monthly statements, sending and receiving funds as well as reaching support representatives. Chain Bridge Bank gets an outstanding consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 5.0/5
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

Chain Bridge Bank is a medium-size bank and has $604 million in assets and deposits totaling $551 million. Chain Bridge Bank's Texas Ratio is 0.00%, denoting that Chain Bridge Bank is in outstanding financial shape and unlikely to fail. Additionally, Chain Bridge 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 Chain Bridge Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.94% APY $1
Checking Account 0.71% APY $1
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.40% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.55% APY
  • 60 Month: 2.60% APY
$500 for all terms
Money Market Accounts 0.71% APY 0.71% APY $10000 $15000

Chain Bridge Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Chain Bridge 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. Chain Bridge Bank's CD rates are fair compared to other U.S. banks.

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Find a Chain Bridge Bank Near Me

Chain Bridge Bank has one locations across the U.S.

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