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Savings Bank of Walpole Review

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

Overview

Started in 1875, Savings Bank of Walpole has $401 million in assets as well as deposits totaling $369 million, which makes the institution a small bank. Savings Bank of Walpole, whose headquarters are in Walpole, New Hampshire, 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. On the whole, Savings Bank of Walpole is a great bank that you should seriously consider, with a rating of 4.3 out of 5 stars from our experts. Savings Bank of Walpole offers a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Savings Bank of Walpole has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for getting the most income from your deposits while maintaining convenient 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

3.8
SmartAsset Average: 3.5

With a savings rate of 0.20%, Savings Bank of Walpole ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 1.75% and the five-year CD has a rate of 1.80%, while its highest-yielding money market account has an APY of 0.25%. Given Savings Bank of Walpole's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Savings Bank of Walpole's Savings Rates Compare

Savings Bank of Walpole Savings 0.20 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Savings Bank of Walpole's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

4.2
SmartAsset Average: 3.7

Savings Bank of Walpole is a brick-and-mortar bank, with five total branches in New Hampshire. With mobile and web apps, Savings Bank of Walpole makes account access straightforward, even on the go. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. ET. Savings Bank of Walpole's online and mobile banking services get moderately good scores from users. The Savings Bank of Walpole mobile app scored a 4.4 out of 5 (out of 140 ratings on iOS and Android) compared to the national average of 3.8. Savings Bank of Walpole's mobile app lets you control your bank accounts by checking account balances, sending and receiving money and reaching customer service. Savings Bank of Walpole receives a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.4/5
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

Savings Bank of Walpole is a small bank owning $401 million in assets as well as $369 million in deposits. Savings Bank of Walpole's Texas Ratio is 5.99%, signifying a small opportunity of failure. Additionally, Savings Bank of Walpole is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.99%
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 Savings Bank of Walpole to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $2500
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 1.75% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.30% APY
  • 60 Month: 1.80% APY
$500 for all terms
Money Market Accounts 0.2% APY 0.25% APY $10000 $15000

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

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Find a Savings Bank of Walpole Near Me

Savings Bank of Walpole has five physical locations across the U.S.

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