Northern Bank & Trust Company first started operating in 1960 with its headquarters in Woburn, Massachusetts. It handles $2 billion in assets as well as $2 billion in deposits, which makes it a large bank. Northern Bank & Trust Company 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. We ranked Northern Bank & Trust Company at a 4.2 stars out of 5, which means it is a great bank that you should seriously consider. Northern Bank & Trust Company has a complete suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Northern Bank & Trust Company's standard checking does not carry a monthly charge. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for gaining the most income from your deposits while having convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Northern Bank & Trust Company has a savings rate of 0.15%, which is fair compared to other U.S. banks. Northern Bank & Trust Company's one-year CD earns at a rate of 1.50% and the five-year CD has a rate of 2.57%, while its highest-yielding money market account earns at a rate of 1.51%. Given Northern Bank & Trust Company's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.
How Northern Bank & Trust Company's Savings Rates Compare
Northern Bank & Trust Company charges customers extremely low fees as compared against the national average. With no monthly fee, Northern Bank & Trust Company's checking account is ideal for people who need a hassle-free banking experience. For those who use cash often, it is perfect because it has no out-of-network ATM fees. Additionally, at $35.00, its overdraft fee is lower than that of other U.S. banks. Northern Bank & Trust Company doesn't refund out-of-network ATM fees, meaning you will be required to locate a Northern Bank & Trust Company ATM or accept the ATM charge.
Northern Bank & Trust Company is a brick-and-mortar bank, with 13 total bank locations in Massachusetts. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 6:00 p.m. ET. Northern Bank & Trust Company receives average reviews from customers for its mobile banking services. Out of 22 ratings across both iOS and Android platforms, the Northern Bank & Trust Company mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). You can use Northern Bank & Trust Company's mobile app to control your accounts by checking current statements, sending and receiving money as well as accessing support representatives. Northern Bank & Trust Company receives a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Northern Bank & Trust Company ranks as a large bank owning $2 billion in assets as well as deposits totaling $2 billion. Northern Bank & Trust Company has a strong Texas Ratio of 11.44%, signifying a small opportunity of failure. Additionally, Northern Bank & 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
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 Northern Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$10|
|Checking Account||0.05% APY||$25|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||1.51% APY||$5000|
Northern Bank & Trust Company offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Northern Bank & 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. Northern Bank & Trust Company's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Northern Bank & Trust Company Near Me
Northern Bank & Trust Company has 13 physical branches in the U.S.Back to Overview