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Country Bank for Savings Review

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Country Bank for Savings Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1850, Country Bank for Savings has assets totaling $2 billion and $1 billion in deposits, classifying the institution as a large bank. Country Bank for Savings, whose headquarters are in Ware, Massachusetts, 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. SmartAsset experts rated the bank 4.3 out of 5 stars, which means Country Bank for Savings is a great bank that you should seriously consider. Country Bank for Savings has a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Country Bank for Savings has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Country Bank for Savings's standard checking account does not have a monthly fee. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is your best option for gaining the most income from your deposits alongside 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

3.2
SmartAsset Average: 3.5

Country Bank for Savings features a savings rate of 0.15%, which is fair compared to the average U.S. bank. Country Bank for Savings's one-year CD has a rate of 0.60% and the five-year CD earns at a rate of 1.60%, while its highest-yielding money market account has a rate of 0.25%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Country Bank for Savings's Savings Rates Compare

Country Bank for Savings Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Country Bank for Savings charges its customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Country Bank for Savings does not reimburse out-of-network ATM fees, which means you'll be required to locate a Country Bank for Savings ATM or pay the withdrawal fee.

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

4.0
SmartAsset Average: 3.7

Country Bank for Savings is a brick-and-mortar bank, with 15 total branches in Massachusetts. With mobile and web apps, Country Bank for Savings makes mobile banking 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 Friday, 8:00 a.m. to 5:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. Country Bank for Savings receives moderately high praise from customers for its mobile platform. The Country Bank for Savings mobile app rates a 4.1 out of 5 (out of 34 customer reviews on iOS and Android) compared to the national average of 3.8. Country Bank for Savings's mobile app allows you to control your finances by monitoring monthly statements, sending and receiving money and reaching customer service. Country Bank for Savings receives an exceptional consumer satisfaction score based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Country Bank for Savings is currently a large bank and owns assets totaling $2 billion and $1 billion in deposits. Its Texas Ratio is 4.50%, indicating a negligible possibility of failure. Additionally, Country Bank for Savings is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.5%
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 Country Bank for Savings to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $10
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 1.15% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.60% APY
$500 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

Country Bank for Savings has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Country Bank for Savings does not have the best savings rate, which means you should consider 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. Country Bank for Savings's CD rates are fair in comparison to other U.S. banks.

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Find a Country Bank for Savings Near Me

Country Bank for Savings has 15 physical locations in the U.S.

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