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Randolph Savings Bank Review

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Randolph Savings Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1851, Randolph Savings Bank has $532 million in assets along with $377 million in deposits, making the institution a medium-size bank. Randolph Savings Bank, whose headquarters are in Randolph, Massachusetts, has above-average access to customer service with a live chat feature, great for getting help during the work week. 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. We gave the bank a 4.1 out of 5 stars, which means Randolph Savings Bank is a respectable bank that deserves your consideration. Randolph Savings Bank offers numerous banking products, including savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Randolph Savings Bank's most basic checking does not carry a monthly charge. Institutions that offer no-fee checking as well as a high savings APY are your best option for returning the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Randolph Savings Bank features a savings rate of 0.10%, which is fair in comparison to the national average. Randolph Savings Bank's one-year CD has a rate of 0.45% and the five-year CD has a rate of 1.45%, while its highest-yielding money market account has an APY of 0.10%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Randolph Savings Bank's Savings Rates Compare

Randolph Savings Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Randolph Savings Bank charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Randolph Savings Bank's checking account is perfect for people who need an easy checking account. For those who withdraw cash frequently, it is perfect because it has no out-of-network ATM fees. Randolph Savings Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you'll be required to search for a Randolph Savings Bank ATM or accept the withdrawal fee.

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

SmartAsset Average: 3.7

Randolph Savings Bank is a brick-and-mortar bank, with eight total bank locations in Massachusetts. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. ET; Saturday, and 8:00 a.m. to 2:00 p.m. ET. Additionally, Randolph Savings Bank customers can access live chat for customer service questions, key for getting quick access to customer service. Randolph Savings Bank's online and mobile banking services get mediocre feedback from customers. The Randolph Savings Bank mobile app has an overall rating of 2.7 out of 5 (with 25 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Randolph Savings Bank's mobile app to control your accounts by looking at current statements, sending and receiving money and reaching customer service. Randolph Savings Bank receives an outstanding consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

Randolph Savings Bank is currently a medium-size bank owning assets totaling $532 million and deposits totaling $377 million. Its Texas Ratio is 3.39%, indicating that Randolph Savings Bank is in superb financial health and far from failure. Additionally, Randolph 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

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 Randolph Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $10
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 1.10% APY
  • 36 Month: 1.15% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.45% APY
$1000 for all terms
Money Market Account 0.1% APY $2500

Randolph Savings Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Randolph 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. Randolph Savings Bank's CD rates are fair as compared against the national average.

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Find a Randolph Savings Bank Near Me

Randolph Savings Bank has eight physical locations across the U.S.

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