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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

Started in 2000, Northbrook Bank and Trust Company has $2 billion in assets along with $2 billion in deposits, making it a large bank. Northbrook Bank and Trust Company, whose headquarters are in Northbrook, Illinois, 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 access to service representatives at a physical location, in addition to its online and mobile apps. On the whole, Northbrook Bank and Trust Company is a solid contender in your bank search, with a score of 4.2 stars out of 5 from our team. Northbrook Bank and Trust Company provides customers with the complete package of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It 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. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best option for gaining the most income on your deposits while having easy 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

With a savings rate of 0.20%, Northbrook Bank and Trust Company ranks poorly as compared against the national average. Its one-year CD has a rate of 0.18% and the five-year CD has a rate of 0.80%, while its highest-yielding money market account earns at a rate of 0.30%. Given Northbrook Bank and Trust Company's noncompetitive savings rate, you should think about taking a look at other banks for 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, ranking it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, Northbrook Bank and Trust Company is ideal because it has no out-of-network ATM fees. Northbrook Bank and Trust Company unfortunately does not reimburse out-of-network ATM fees, meaning you will need to locate a Northbrook Bank and Trust Company ATM or eat the ATM charge.

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 bank locations in Illinois. With mobile and web apps, Northbrook Bank and Trust Company makes mobile banking convenient, even on the go. Northbrook Bank and Trust Company's online and mobile banking services get fair marks from customers. The Northbrook Bank and Trust Company mobile app is rated at 3.7 out of 5 (with 18 reviews on Apple and Android) compared to the national average of 3.8. Northbrook Bank and Trust Company's mobile app allows you to manage your accounts by looking at current statements, transferring money as well as reaching support representatives. Northbrook Bank and Trust Company gets a superb consumer satisfaction rating due to comparatively few consumer complaints filed with 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 and manages assets totaling $2 billion and deposits totaling $2 billion. Its Texas Ratio is 4.67%, indicating that the bank is in outstanding financial condition and improbable to fail. 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 Account 0.3% APY $10000

Northbrook Bank and Trust Company has several deposit products like 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 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. Northbrook Bank and Trust Company's CD rates are fair in comparison to other U.S. banks.

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Find a Northbrook Bank and Trust Company Near Me

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

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