Established in 1867, Northfield Savings Bank has assets totaling $959 million along with deposits totaling $723 million, which makes the institution a medium-size bank. Northfield Savings Bank, whose headquarters are in Northfield, Vermont, 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. With a score of 4.2 stars out of 5, Northfield Savings Bank should be solidly in contention for your choice of bank. Northfield Savings Bank provides customers with a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Northfield Savings Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Northfield Savings Bank's standard checking does not carry a monthly fee. Using an institution with no-fee checking and a high savings APY is your best bet for getting the highest 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
With a savings rate of 0.25%, Northfield Savings Bank ranks poorly in comparison to the national average. Northfield Savings Bank's one-year and five-year term lengths CDs earn at a rate of 1.50% and 2.50%, respectively, while its highest-yielding money market account has a rate of 0.35%. Given Northfield Savings Bank's poor savings rate, you should consider looking elsewhere to open savings accounts.
How Northfield Savings Bank's Savings Rates Compare
Northfield Savings Bank charges customers low fees compared to other U.S. banks. With no monthly fee, Northfield Savings Bank's checking account is ideal for people who need a hassle-free banking experience. For those who will need cash in a pinch, it is not ideal because it charges an out-of-network ATM fee of $2.50, which is not great as compared against the national average. Also, Northfield Savings Bank has an overdraft fee of $30.00, which is markedly lower than the national average overdraft fee. Northfield Savings Bank doesn't refund out-of-network ATM fees, meaning you'll have to locate a Northfield Savings Bank ATM or accept the ATM charge.
Northfield Savings Bank is a brick-and-mortar bank, with 13 total branches in Vermont. It also offers access to mobile and web apps for a straightforward 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 5:00 p.m. ET. Northfield Savings Bank's online and mobile banking platforms get mediocre feedback from users. Out of 49 ratings on Apple and Android platforms, the Northfield Savings Bank mobile app is scored at 3.4 out of 5 (compared to the national average of 3.8). Northfield Savings Bank's mobile app lets you control your finances by checking monthly statements, sending and receiving funds and accessing support representatives. Northfield Savings Bank receives an exceptional consumer satisfaction score due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Northfield Savings Bank is a medium-size bank owning $959 million in assets as well as deposits totaling $723 million. Northfield Savings Bank's Texas Ratio is 4.64%, signifying a low chance of failure. Additionally, Northfield Savings 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.Back to Overview
Compare Northfield Savings Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$1|
|Checking Account||0.2% APY||$1500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.3% APY 0.35% APY||$10000 $15000|
Northfield Savings Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Northfield Savings Bank does not have the best savings rate, which means you should consider looking 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. Northfield Savings Bank's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a Northfield Savings Bank Near Me
Northfield Savings Bank has 13 branches across the U.S.Back to Overview