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Haverhill Bank Review

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


Haverhill Bank started in 1877 with its headquarters in Haverhill, Massachusetts. It owns assets of $391 million and deposits totaling $336 million, which makes it a small bank. Haverhill Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.4 stars out of 5, Haverhill Bank is a solid pick to be your bank. Haverhill 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. Haverhill 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, Haverhill Bank offers an option without a monthly fee. Finding a bank with free checking and a high interest rate savings account is your best option for returning the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Haverhill Bank features a savings rate of 0.05%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.51% and 2.68%, respectively, while its highest-yielding money market account earns at an APY of 0.25%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Haverhill Bank's Savings Rates Compare

Haverhill Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Haverhill Bank has generally extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Additionally, at $25.00, Haverhill Bank has a noticeably lower overdraft fee compared to the national average. Haverhill Bank unfortunately does not reimburse out-of-network ATM fees, meaning you will need to find a Haverhill Bank ATM or eat the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Haverhill Bank is a brick-and-mortar bank, with 10 total bank locations in Massachusetts and New Hampshire. With mobile and web apps, Haverhill Bank makes account access easy, even on the go. Haverhill Bank's online and mobile banking services receive fair feedback from users. The Haverhill Bank mobile app rates a 3.9 out of 5 (with 16 customer reviews on Apple and Android) compared to the national average of 3.8. Haverhill Bank's mobile app lets you manage your bank accounts by reviewing current statements, transferring money as well as accessing support representatives. Haverhill Bank receives a superb consumer satisfaction rating based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Haverhill Bank is a small bank and owns assets totaling $391 million and deposits totaling $336 million. Haverhill Bank's Texas Ratio is 3.30%, indicating a negligible possibility of failure. Additionally, Haverhill Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Haverhill Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.1% APY $10
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.43% APY
  • 60 Month: 2.68% APY
$500 for all terms
Money Market Account 0.25% APY $10000

Haverhill Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Haverhill Bank does not have the best savings rate, which means you should think about taking a look 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. Haverhill Bank's CD rates are fair in comparison to the national average.

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Find a Haverhill Bank Near Me

Haverhill Bank has 10 physical branches across the U.S.

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