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NBT Bank Review

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


Founded in 1856, NBT Bank has $9 billion in assets along with deposits totaling $7 billion, ranking the institution as a large bank. NBT Bank, whose headquarters are in Norwich, New York, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With an average 3.7 stars out of 5, NBT Bank is a decent choice, but with better options out there. NBT Bank has a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. NBT Bank has a fair savings rate compared to the average savings account. Using a bank with free checking and a high interest rate savings account is your best option for getting the most income on your deposits while having easy 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

NBT Bank features a savings rate of 0.05%, which is poor compared to other U.S. banks. Its CD rates are 0.40% and 1.25% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.05%. Given its below average savings rate, you should consider looking at the competition to open savings accounts.

How NBT Bank's Savings Rates Compare

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

NBT Bank has typically above-average fees as compared against the national average. For those who will need cash in a pinch, NBT Bank is fair because it charges an out-of-network ATM fee of $1.25, which is reasonable in comparison to the average U.S. bank. Additionally, at $35.00, NBT Bank's overdraft fee is lower than the national average overdraft fee. NBT Bank unfortunately does not reimburse out-of-network ATM fees, which means you will be required to locate a NBT Bank ATM or accept the fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee $1.25 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

NBT Bank is a brick-and-mortar bank, with 156 total bank locations in Maine, Massachusetts, New Hampshire, New York, Pennsylvania and Vermont. With mobile and web apps, NBT Bank makes account access straightforward, even on the go. NBT Bank's online and mobile banking platforms get poor feedback from users. With 540 customer reviews on iOS and Android platforms, the NBT Bank mobile app is scored at 2.6 out of 5 (compared to the national average of 3.8). You can utilize NBT Bank's app to manage your finances by checking current statements, transferring funds as well as accessing support representatives. NBT Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

NBT Bank is a large bank with assets totaling $9 billion as well as $7 billion in deposits. Its Texas Ratio is 2.88%, denoting that the bank is in outstanding financial shape and far from failure. Additionally, NBT Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 NBT Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $25
Checking Account 0.01% APY $2500
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Account 0.03% APY $1000

NBT Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. NBT 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. NBT Bank's CD rates are fair compared to other U.S. banks.

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Find a NBT Bank Near Me

NBT Bank has 156 physical branches across the U.S.

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