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Ledyard National Bank Review

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

Overview

Started in 1991, Ledyard National Bank has $476 million in assets along with deposits totaling $404 million, ranking it as a medium-size bank. Ledyard National Bank, whose headquarters are in Norwich, Vermont, 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 in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.3 out of 5 stars, Ledyard National Bank is a solid pick to be your bank. Ledyard National Bank offers a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. Ledyard National Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's standard checking does not have a monthly fee. Institutions that offer no-fee checking, in addition to a high savings APY are your best bet for accruing the highest income on 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

With a savings rate of 0.15%, Ledyard National Bank ranks poorly as compared against the national average. Its one-year CD has a rate of 0.65% and the five-year CD earns at a rate of 1.06%, while its highest-yielding money market account earns at a rate of 0.15%. Given Ledyard National Bank's noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How Ledyard National Bank's Savings Rates Compare

Ledyard National Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.7
SmartAsset Average: 4.4

On average, Ledyard National Bank charges its customers extremely low fees in comparison to other U.S. banks. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who will need cash in a pinch, Ledyard National Bank is solid because it has an out-of-network ATM fee of $1.00, which is good compared to the national average. Also, at $29.00, it has a noticeably lower overdraft fee compared to that of other U.S. banks. Ledyard National Bank doesn't reimburse out-of-network ATM charges, which means you will need to find a Ledyard National Bank ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $29.00 National Average: $35.00
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Service Quality

4.2
SmartAsset Average: 3.7

Ledyard National Bank is a brick-and-mortar bank, with 10 total bank locations in New Hampshire and Vermont. It also offers access to mobile and web apps for simple access and banking on the go. Ledyard National Bank's online and mobile banking platforms get positive feedback from customers. With 6 customer reviews across Apple and Android platforms, the Ledyard National Bank mobile app rates a 4.5 out of 5 (compared to the national average of 3.8). You can access Ledyard National Bank's app to manage your funds by checking monthly statements, sending and receiving money as well as accessing customer service. Ledyard National Bank gets an excellent consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Ledyard National Bank is a medium-size bank with assets totaling $476 million and $404 million in deposits. It has an excellent Texas Ratio of 3.98%, denoting that Ledyard National Bank is in outstanding financial condition and far from failure. Additionally, Ledyard National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.98%
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 Ledyard National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $250
Checking Account 0.01% APY $750
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.65% APY
  • 36 Month: 1.06% APY
  • 48 Month: 1.06% APY
  • 60 Month: 1.06% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Ledyard National Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Ledyard National 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. Ledyard National Bank's CD rates are fair compared to other U.S. banks.

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Find a Ledyard National Bank Near Me

Ledyard National Bank has 10 physical locations in the U.S.

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