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Clinton Savings Bank Review

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

Overview

Clinton Savings Bank was founded in 1851 and is headquartered in Clinton, Massachusetts. It owns $551 million in assets along with deposits totaling $419 million, which makes it a medium-size bank. Clinton Savings Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. SmartAsset has rated Clinton Savings Bank 4.3 stars out of 5, suggesting it is a solid pick to be your bank. Clinton Savings Bank provides customers with a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Clinton Savings Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly maintenance fee. Using an institution with no-fee checking, in addition to a high interest rate savings account is the best bet for gaining the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

With a savings rate of 0.05%, Clinton Savings Bank ranks poorly in comparison to the national average. Its CDs feature a rate of 1.40% and 2.15% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.30%. Given Clinton Savings Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Clinton Savings Bank's Savings Rates Compare

Clinton Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.7
SmartAsset Average: 4.4

Clinton Savings Bank charges its customers extremely low fees in comparison to the average U.S. bank. Clinton Savings Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who will need cash in a pinch, it is good because it has an out-of-network ATM fee of $1.00, which is good in comparison to other U.S. banks. Also, Clinton Savings Bank has an overdraft fee of $30.00, which is significantly less than the average U.S. overdraft fee. Clinton Savings Bank doesn't refund out-of-network ATM charges, meaning you'll have to find a Clinton Savings Bank ATM or eat the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Clinton Savings Bank is a brick-and-mortar bank, with nine total bank locations in Massachusetts. It also offers access to mobile and web apps for straightforward access and banking on the go. Clinton Savings Bank's online and mobile banking services receive high marks from customers. Out of 130 customer reviews across both Apple and Android platforms, the Clinton Savings Bank mobile app has an overall rating of 4.7 out of 5 (compared to the national average of 3.8). You can use Clinton Savings Bank's mobile app to manage your accounts by reviewing current statements, transferring funds and reaching support representatives. Clinton Savings Bank gets a superb consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Clinton Savings Bank ranks as a medium-size bank and owns assets totaling $551 million and $419 million in deposits. Its Texas Ratio is 7.29%, signifying a small possibility of failure. Additionally, Clinton 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

7.29%
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 Clinton 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 0.02% APY $10
Certificates of Deposit
  • 12 Month: 1.40% APY
  • 24 Month: 1.65% APY
  • 36 Month: 1.75% APY
  • 48 Month: 1.95% APY
  • 60 Month: 2.15% APY
$10 for all terms
Money Market Accounts 0.3% APY 0.3% APY $10000 $15000

Clinton 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. Clinton Savings Bank does not have the best savings rate, which means you should consider looking 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. Clinton Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a Clinton Savings Bank Near Me

Clinton Savings Bank has nine physical branches in the U.S.

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