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Northbrook Bank and Trust Company Review

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Northbrook Bank and Trust Company Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Northbrook Bank and Trust Company started in 2000 and is headquartered in Northbrook, Illinois. It handles $2 billion in assets and deposits totaling $2 billion, ranking it as a large bank. Northbrook Bank and Trust Company 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 in-person service, in addition to its online and mobile apps. With a score of 4.2 stars out of 5, Northbrook Bank and Trust Company should be solidly in contention for your choice of bank. Northbrook Bank and Trust Company has a diverse array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Northbrook Bank and Trust Company has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Northbrook Bank and Trust Company offers an option without a maintenance or monthly fee. Using a bank with no-fee checking and a high savings APY is the best option for returning the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.1
SmartAsset Average: 3.5

Northbrook Bank and Trust Company has a savings rate of 0.20%, which is poor in comparison to the national average. Northbrook Bank and Trust Company's one-year CD earns at a rate of 0.18% and the five-year CD earns at a rate of 0.80%, while its highest-yielding money market account has an APY of 0.30%. Given Northbrook Bank and Trust Company's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Northbrook Bank and Trust Company's Savings Rates Compare

Northbrook Bank and Trust Company Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Northbrook Bank and Trust Company typically has 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, Northbrook Bank and Trust Company is ideal because it charges no out-of-network ATM fees. Northbrook Bank and Trust Company doesn't refund out-of-network ATM fees, which means you'll need to find a Northbrook Bank and Trust Company ATM or accept the cost of withdrawal.

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

3.8
SmartAsset Average: 3.7

Northbrook Bank and Trust Company is a brick-and-mortar bank, with eight total branches in Illinois. It also offers access to mobile and web apps for a simple mobile-banking experience. Northbrook Bank and Trust Company's online and mobile banking platforms receive moderate feedback from users. Out of 18 ratings on iOS and Android platforms, the Northbrook Bank and Trust Company mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). You can use Northbrook Bank and Trust Company's app to control your accounts by monitoring account balances, transferring money as well as reaching customer service. Northbrook Bank and Trust Company receives a superb consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Northbrook Bank and Trust Company ranks as a large bank owning assets totaling $2 billion as well as deposits totaling $2 billion. It has an excellent Texas Ratio of 4.67%, suggesting a negligible chance of failure. Additionally, Northbrook Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.67%
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 Northbrook Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $200
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.18% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.50% APY
  • 60 Month: 0.80% APY
$1000 for all terms
Money Market Accounts 0.3% APY 0.3% APY $10000 $15000

Northbrook Bank and Trust Company offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Northbrook Bank and Trust Company does not have the best savings rate, which means you should consider 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. Northbrook Bank and Trust Company's CD rates are fair in comparison to the national average.

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Find a Northbrook Bank and Trust Company Near Me

Northbrook Bank and Trust Company has eight physical branches across the U.S.

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