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

Overview

Started in 1964, Harford Bank has assets totaling $352 million as well as deposits totaling $281 million, making it a small bank. Harford Bank, whose headquarters are in Aberdeen, Maryland, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Harford Bank is a great choice and should warrant serious consideration, with a score of 4.4 out of 5 stars from our experts. Harford Bank provides customers with an array product offerings, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is your best bet for returning the most income on your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

With a savings rate of 0.15%, Harford Bank ranks poorly in comparison to the national average. Harford Bank's one-year CD earns at a rate of 1.50% and the five-year CD has a rate of 2.80%, while its highest-yielding money market account earns at an APY of 0.30%. Given Harford Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Harford Bank's Savings Rates Compare

Harford Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Harford Bank charges customers low fees compared to other U.S. banks. Also, at $32.00, it has a markedly lower overdraft fee compared to that of other U.S. banks. Harford Bank unfortunately does not reimburse out-of-network ATM charges, which means you'll be required to locate a Harford Bank ATM or eat the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Harford Bank is a brick-and-mortar bank, with eight total branches. With mobile and web apps, Harford Bank makes mobile banking convenient, even on the go. Harford Bank receives great scores from users for its online presence. With 19 ratings across Apple and Android platforms, the Harford Bank mobile app is scored at 4.7 out of 5 (compared to the national average of 3.8). Harford Bank's mobile app lets you manage your accounts by checking monthly statements, sending and receiving funds as well as accessing support representatives. Harford Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

4.8
SmartAsset Average: 4.8

Harford Bank is currently a small bank with assets totaling $352 million and deposits totaling $281 million. Harford Bank has an excellent Texas Ratio of 4.59%, signifying a negligible possibility of failure. Additionally, Harford Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.59%
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 Harford Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.02% APY $1
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.70% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.80% APY
$1000 for all terms
Money Market Accounts 0.2% APY 0.3% APY $10000 $15000

Harford Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Harford Bank 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. Harford Bank's CD rates are fair in comparison to the national average.

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Find a Harford Bank Near Me

Harford Bank has eight physical branches across the U.S.

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