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

Overview

Mariners Bank was founded in 2001 and is headquartered in Edgewater, New Jersey. Mariners Bank manages assets of $386 million along with $353 million in deposits, making it a small bank. Mariners 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 offerings. On the whole, Mariners Bank is a great bank that you should seriously consider, with a rating of 4.4 out of 5 stars from our team. Mariners Bank has a diversity of banking products, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. Obtaining 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 option for accruing the most income on your deposits alongside easy access to your funds.

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%, Mariners Bank ranks poorly in comparison to the national average. Mariners Bank's CDs feature a rate of 2.25% and 1.91% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.35%. Given its poor savings rate, you should consider other options to earn more on your deposits.

How Mariners Bank's Savings Rates Compare

Mariners Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Mariners Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

4.5
SmartAsset Average: 3.7

Mariners Bank is a brick-and-mortar bank, with seven total branches in New Jersey. With mobile and web apps, Mariners Bank makes mobile banking straightforward, even on the go. Mariners Bank's online and mobile banking platforms receive high marks from users. With 3 customer reviews across iOS and Android platforms, the Mariners Bank mobile app is scored at 5.0 out of 5 (compared to the national average of 3.8). Mariners Bank's mobile app lets you manage your bank accounts by looking at account balances, sending and receiving funds and reaching support representatives. Mariners Bank gets an exceptional consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 5.0/5
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

Mariners Bank is currently a small bank with assets totaling $386 million and deposits totaling $353 million. Mariners Bank has an excellent Texas Ratio of 3.82%, signifying a minute likelihood of failure. Additionally, Mariners Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.82%
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 Mariners Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $200
Checking Account 0.6% APY $500
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.25% APY
  • 36 Month: 1.76% APY
  • 48 Month: 1.86% APY
  • 60 Month: 1.91% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.35% APY $10000 $15000

Mariners Bank offers several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Mariners Bank does not have the best savings rate, which means you should think about 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. Mariners Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Mariners Bank Near Me

Mariners Bank has seven branches in the U.S.

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