Founded in 1998, New Mexico Bank & Trust has $1 billion in assets and deposits totaling $1 billion, which makes the institution a large bank. New Mexico Bank & Trust, whose headquarters are in Albuquerque, New Mexico, lacks premium access to customer service, with no options for live chat or all-day service. 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. SmartAsset has rated the bank 4.1 out of 5 stars, indicating that New Mexico Bank & Trust is a respectable bank that warrants your consideration. New Mexico Bank & Trust provides customers with a varied choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. New Mexico Bank & Trust has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, New Mexico Bank & Trust offers an option without a monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for getting the most income on your deposits while maintaining easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
New Mexico Bank & Trust has a savings rate of 0.10%, which is poor compared to the average U.S. bank. Its one-year CD earns at a rate of 0.65% and the five-year CD has a rate of 1.20%, while its highest-yielding money market account has an APY of 0.10%. Given New Mexico Bank & Trust's poor savings rate, you should think about taking a look at other banks for savings accounts.
How New Mexico Bank & Trust's Savings Rates Compare
New Mexico Bank & Trust typically has extremely low fees in comparison to other U.S. banks. With no monthly fee, New Mexico Bank & Trust's checking account is perfect for people who want a hassle-free checking account. For those who withdraw cash often, it is perfect because it charges no out-of-network ATM fees. New Mexico Bank & Trust unfortunately doesn't refund out-of-network ATM fees, meaning you will need to locate a New Mexico Bank & Trust ATM or eat the ATM charge.
New Mexico Bank & Trust is a brick-and-mortar bank, with 17 total bank locations in New Mexico. It also offers access to mobile and web apps for easy access and banking on the go. New Mexico Bank & Trust's online and mobile banking platforms get poor scores from customers. The New Mexico Bank & Trust mobile app is rated at 3.3 out of 5 (out of 98 customer reviews on Apple and Android) compared to the national average of 3.8. You can use New Mexico Bank & Trust's app to manage your accounts by checking account balances, sending and receiving money and reaching support representatives. New Mexico Bank & Trust receives an outstanding consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
New Mexico Bank & Trust is currently a large bank owning assets totaling $1 billion as well as deposits totaling $1 billion. Its Texas Ratio is 2.34%, signifying that New Mexico Bank & Trust is in excellent financial condition and unlikely to fail. Additionally, New Mexico Bank & Trust 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.Back to Overview
Compare New Mexico Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$1|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.05% APY 0.1% APY||$10000 $15000|
New Mexico Bank & Trust has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. New Mexico Bank & Trust 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. New Mexico Bank & Trust's CD rates are fair compared to the national average.Back to Overview
Find a New Mexico Bank & Trust Near Me
New Mexico Bank & Trust has 17 physical locations across the U.S.Back to Overview