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Rondout Savings Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Rondout Savings Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Rondout Savings Bank started in 1868 with headquarters in Kingston, New York. It owns assets of $351 million as well as $298 million in deposits, classifying it as a small bank. Rondout Savings Bank lacks premium access to customer service, with no live chat or all-day service options available. 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. Overall, Rondout Savings Bank is a great bank that you should seriously consider, with a rating of 4.3 stars out of 5 from our experts. Rondout Savings Bank provides customers with a full array of banking products, including 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 interested in stress-free personal checking, Rondout Savings Bank's standard checking does not have a monthly charge. Using an institution with no-fee checking, in addition to a high interest rate savings account is your best bet for returning the highest income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.3
SmartAsset Average: 3.5

Rondout Savings Bank has a savings rate of 0.20%, which is fair compared to the national average. Rondout Savings Bank's one-year and five-year term lengths CDs earn at a rate of 2.50% and 1.75%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given Rondout Savings Bank's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How Rondout Savings Bank's Savings Rates Compare

Rondout Savings Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Rondout Savings Bank charges customers extremely low fees compared to the average U.S. bank. Rondout Savings Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Rondout Savings Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to search for a Rondout Savings Bank ATM or pay 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

4.3
SmartAsset Average: 3.7

Rondout Savings Bank is a brick-and-mortar bank, with five total branches in New York. It also offers access to mobile and web apps for simple access and banking on the go. Rondout Savings Bank gets high marks from customers for its mobile platform. The Rondout Savings Bank mobile app has an overall rating of 4.6 out of 5 (with 5 reviews on iOS and Android) compared to the national average of 3.8. Rondout Savings Bank's mobile app lets you control your funds by checking current statements, transferring money as well as reaching customer service. Rondout Savings Bank gets a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial 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

4.7
SmartAsset Average: 4.8

Rondout Savings Bank is a small bank owning $351 million in assets as well as $298 million in deposits. It has a strong Texas Ratio of 6.81%, suggesting a small chance 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

6.81%
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: 2.50% 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 Accounts 0.15% APY 0.15% APY $10000 $15000

Rondout Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Rondout Savings Bank does not have the best savings rate, which means you should think about 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. Rondout Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a Rondout Savings Bank Near Me

Rondout Savings Bank has five physical locations across the U.S.

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