Easthampton (MA) Savings Bank Review

Easthampton Savings Bank Savings

0.05% APY

Easthampton Savings Bank started in 1869 and its headquarters are located in Easthampton, Massachusetts. It has $1.97 billion in assets as well as deposits totaling $1.61 billion, which makes it a medium-size bank. Easthampton Savings Bank does not have the same customer service perks that others do. It is a traditional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. Overall, Easthampton Savings Bank is a solid pick to be your bank with a rating of 4.3 out of 5 stars from the SmartAsset team. 

Easthampton Savings Bank offers a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Easthampton Savings Bank has a fair savings rate, which means other popular banks have higher rates. If you're looking for a checking account for everyday use, Easthampton Savings Bank's standard checking does not carry a monthly maintenance charge. Using one bank for checking and savings is ideal for getting the largest interest rates on your deposits while keeping access to your money without getting penalized for withdrawing.

Service Quality

Easthampton Savings Bank is a brick-and-mortar bank, with 11 total branches in Massachusetts. With mobile and web apps, Easthampton Savings Bank makes mobile banking easy, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Wednesday, 8:30 a.m. to 5:00 p.m. ET; Thursday, 8:30 a.m. to 6:00 p.m. ET; Friday, 8:30 a.m. to 5:00 p.m. ET; Saturday, 8:30 a.m. to 12:00 p.m. ET. 

Easthampton Savings Bank's online and mobile banking services get positive ratings from users: with 46 customer reviews on iOS and Android platforms, the Easthampton Savings Bank mobile app is scored at 4.1 out of 5 (compared to the national average of 3.8). Easthampton Savings Bank's mobile app allows you to manage your bank accounts by checking current statements, sending and receiving money and accessing customer service. Easthampton Savings Bank receives a superb consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Easthampton Savings Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Easthampton Savings Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Easthampton Savings Bank's CD rates are competitive in comparison to other U.S. banks. 

Rates

With a savings rate of 0.05%, Easthampton Savings Bank ranks below the mean in comparison to the national average. Its CDs feature a rate of 0.20% and 0.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.30%. It has a fair savings rate, which means you can find higher rates with other banks. Think about other options to earn more on your deposits.

Fees

On average, Easthampton Savings Bank charges its customers extremely low fees compared to the national average. With no monthly fee, Easthampton Savings Bank is perfect for those who want a simple banking experience. 

Financial Health

Easthampton Savings Bank is a medium-size bank owning $1.97 billion in assets as well as $1.61 billion in deposits. Easthampton Savings Bank has an excellent Texas Ratio of 1.42%, signifying an extremely small probability of failure. Additionally, Easthampton Savings Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find an Easthampton Savings Bank Near Me

Easthampton Savings Bank has 11 branches in the U.S.