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Greenfield Savings Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Greenfield Savings Bank Savings
0.05% APY

Overview

Our Rating: 4.1/5 How we calculated this rating

Greenfield Savings Bank started in 1869 and is headquartered in Greenfield, Massachusetts. It has assets totaling $825 million along with deposits totaling $669 million, ranking it as a medium-size bank. Greenfield Savings Bank 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. Overall, Greenfield Savings Bank is a respectable bank that deserves your consideration at a score of 4.1 stars out of 5 from the SmartAsset team. 

Greenfield Savings Bank has the full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Greenfield Savings Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Greenfield Savings Bank's ordinary checking account does not have a monthly fee. Why have checking and savings accounts with the same bank? Quick transferring of funds between the two accounts translates to better interest rates in your savings account with the flexibility of spending from your checking.

Service Quality

Greenfield Savings Bank is a brick-and-mortar bank, with 10 total bank locations in Massachusetts. With mobile and web apps, Greenfield Savings Bank makes account access straightforward, even on the go.  

Greenfield Savings Bank's online and mobile banking platforms receive fair marks from users: with 28 customer reviews across Apple and Android platforms, the Greenfield Savings Bank mobile app rates a 3.5 out of 5 (compared to the national average of 3.8). Greenfield Savings Bank's mobile app lets you control your funds by reviewing account balances, transferring money as well as reaching customer service. Greenfield Savings Bank receives an outstanding consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.05% APY $10 Compare Offers
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.90% APY
$10 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.12% APY $1,000 Compare Offers
Checking Accounts 0.03% APY $1 Compare Offers

Greenfield Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, giving you many options to manage your money. Greenfield Savings Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Greenfield Savings Bank's CD rates are fair as compared against the national average.

Rates

With a savings rate of 0.05%, Greenfield Savings Bank ranks below the mean in comparison to other U.S. banks. Greenfield Savings Bank's one-year CD has a rate of 0.40% and the five-year CD earns at a rate of 1.90%, while its highest-yielding money market account earns at an APY of 0.12%. Given its noncompetitive savings rate, you should contemplate choosing another bank to earn more on your deposits.

Compare Greenfield Savings Bank to Other Competitive Offers

Fees

Greenfield Savings Bank typically has extremely low fees in comparison to the national average. With no monthly fee, Greenfield Savings Bank's checking account is ideal for those who want a hassle-free banking experience. 

Financial Health

Greenfield Savings Bank is a medium-size bank and has assets totaling $825 million as well as $669 million in deposits. Greenfield Savings Bank has an excellent Texas Ratio of 2.15%, signifying that Greenfield Savings Bank is in terrific financial shape and very far from failure. Additionally, Greenfield Savings Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Greenfield Savings Bank Near Me

Greenfield Savings Bank has 10 physical locations in the U.S.

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