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Rondout Savings Bank Review

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Rondout Savings Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1868, Rondout Savings Bank has assets totaling $351 million along with $298 million in deposits, classifying it as a small bank. Rondout Savings Bank, whose headquarters are in Kingston, New York, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4.3 out of 5 stars, Rondout Savings Bank should be solidly in contention for your choice of bank. Rondout Savings Bank provides customers with a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Rondout Savings Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Rondout Savings Bank's standard checking account does not have a monthly fee. Banks that offer no-fee checking and a high interest rate savings account are your best bet for getting the most income on your deposits while maintaining 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

Rondout Savings Bank features a savings rate of 0.20%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 0.60% and the five-year CD earns at a rate of 1.75%, while its highest-yielding money market account has an APY of 0.15%. Given Rondout Savings Bank's poor savings rate, you should consider other options to earn more on your deposits.

How Rondout Savings Bank's Savings Rates Compare

Rondout Savings Bank Savings 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Rondout Savings Bank charges its customers extremely low fees as compared against the national average. With no monthly fee, Rondout Savings Bank's checking account is perfect for those who need a hassle-free banking experience. Rondout Savings Bank unfortunately does not refund out-of-network ATM fees, meaning you will be required to search for a Rondout Savings Bank ATM or accept the cost of withdrawal.

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

SmartAsset Average: 3.7

Rondout Savings Bank is a brick-and-mortar bank, with five total branches in New York. With mobile and web apps, Rondout Savings Bank makes account access convenient, even on the go. Rondout Savings Bank's online and mobile banking platforms get high marks from users. The Rondout Savings Bank mobile app has an overall rating of 4.6 out of 5 (out of 5 customer reviews on iOS and Android) compared to the national average of 3.8. Rondout Savings Bank's mobile app allows you to manage your funds by monitoring account balances, sending and receiving funds as well as reaching customer service. Rondout Savings Bank gets a superb consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Rondout Savings Bank is a small bank owning assets totaling $351 million as well as deposits totaling $298 million. Its Texas Ratio is 6.81%, denoting a tiny possibility of failure. Additionally, Rondout 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 Rondout Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $10
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 1.20% APY
  • 36 Month: 1.40% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.75% APY
$500 for all terms
Money Market Account 0.15% APY $2500

Rondout 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. Rondout Savings Bank 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. Rondout Savings Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Rondout Savings Bank Near Me

Rondout Savings Bank has five branches across the U.S.

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