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Rockland Trust Company Review

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Rockland Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1907, Rockland Trust Company Bank has $8 billion in assets along with $7 billion in deposits, making the institution a large bank. Rockland Trust Company, whose headquarters are in Rockland, Massachusetts, lacks premium access to support representatives, 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 offerings. At a SmartAsset rating of 3.9 stars out of 5, Rockland Trust Company should be near the middle of the pack in your search for a bank. Rockland Trust Company offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Rockland Trust Company has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Rockland Trust Company's most basic checking account does not carry a monthly maintenance fee. Locating an institution with free checking as well as a high interest rate savings account is the best bet for accruing the highest income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Rockland Trust Company features a savings rate of 0.05%, which is fair in comparison to other U.S. banks. Rockland Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.40% and 1.65%, respectively, while its highest-yielding money market account has a rate of 0.50%. Given Rockland Trust Company's below average savings rate, you should think about looking elsewhere to open savings accounts.

How Rockland Trust Company's Savings Rates Compare

Rockland Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.2
SmartAsset Average: 4.4

Rockland Trust Company Bank has generally average fees compared to the national average. With no monthly fee, Rockland Trust Company's checking account is ideal for people who want an easy banking experience. For those who will need cash in a pinch, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable in comparison to the average U.S. bank. Also, at $35.00, it has a lower overdraft fee compared to that of other U.S. banks. Rockland Trust Company unfortunately does not refund out-of-network ATM fees, meaning you will have to find a Rockland Trust Company ATM or eat the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

Rockland Trust Company Bank is a brick-and-mortar bank, with 87 total branches in Massachusetts. It also offers access to mobile and web apps for straightforward access and banking on the go. Rockland Trust Company's online and mobile banking services receive moderate marks from users. Out of 1,500 customer reviews on Apple and Android platforms, the Rockland Trust Company mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). Rockland Trust Company's mobile app allows you to control your bank accounts by reviewing monthly statements, sending and receiving funds as well as reaching support representatives. Rockland Trust Company receives a superb consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.8/5
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

Rockland Trust Company is a large bank owning $8 billion in assets as well as deposits totaling $7 billion. Its Texas Ratio is 4.70%, denoting that the bank is in terrific financial health and far from failure. Additionally, Rockland 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

4.7%
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 Rockland Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 2.00% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.65% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.5% APY $10000 $15000

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

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Find a Rockland Trust Company Near Me

Rockland Trust Company has 87 locations across the U.S.

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