Discover the Best 2022 Review of Ridgewood Savings Bank
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Check out Ridgewood Savings Bank's digital banking tools and competitive rates
Experience personalized service from a community bank alongside an impressive range of digital banking tools and services at Ridgewood Savings Bank. Customers can elevate their savings game with the AllPoint Network, offering surcharge-free ATM access worldwide.
Smart Move Online Savings accounts offer competitive Annual Percentage Yields (APYs) that match top-tier rates across the board. Budgeting tools such as Alexa Voice Banking and Money Management are available for maximum convenience.
Rewards programs for debit card users allow customers to take advantage of cashback or exciting deals like gift cards. However, monthly service fees for multiple accounts may pose a problem for some customers. In-person banking is only accessible for residents within New York State.
For those looking for high-yield interest savings accounts, check out the SmartMove Online Savings account, which is online-only and offers zero monthly service fees. Alternatively, Statement and Passbook savings accounts provide lower rates, but greater flexibility for customers looking to access their bank accounts through in-person or phone channels.
While expedited external transfer fees are more expensive at .95 per occurrence, the Smart Move Online Savings account remains an excellent option since charges can be easily waived through a qualifying balance.
Although higher rates may be offered elsewhere, customers can count on Ridgewood Savings Bank to deliver a reliable banking experience. For objective product and service ratings, refer to our Bankrate scores, determined by our impartial editorial team.
For more information on high-yield savings accounts, compare top savings rates via the link below:
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Take a glance at our CD offerings
With just $100, you can open a CD account at Ridgewood Savings Bank, which comes in varying terms spanning three months to seven years. Although its yields are quite competitive, there are some online banks and credit unions that offer higher interest rates.
Our CD products offer diverse term periods ranging from 3 months to 7 years.
APYs are attractive throughout the term range with only a single-rate tier.
An account can be opened with an amount as low as $100.
However, withdrawing early from a CD account attracts a high penalty. For CDs with a term of between one to two years, a withdrawal request leads to a penalty of 270 days' interest.
In determining Bankrate scores, our editorial team uses an objective approach that weighs several factors that individuals should consider when selecting their financial products and services.
Take a look at our available CD offerings here: "
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Looking for the best money market rates? Compare top rates with Ridgewood Savings' PowerFlex Money Market account, offering three balance tiers. However, compared to the online savings account, the rates fall short. The highest rate is only available with a balance of at least $25,000 and a $1,000 opening requirement. Be aware of the $15 monthly maintenance charge if the balance falls below the minimum limit.
Take advantage of free in-person withdrawals at any branch, high-yield rates for larger balances, and check-writing privileges offered by Ridgewood Savings. Although rates are not impressive, the account provides liquidity for supersavers.
Gain access to the best checking rates with Ridgewood Savings offering multiple checking account options. Avoid monthly fees, up to $3 for Ridgewood Good account, by signing up for electronic statements or a monthly direct deposit of at least $300.
Two interest-bearing accounts are also available offering competitive rates and added benefits. However, monthly fees are higher, and a steeper amount is required to waive them. Enjoy the benefits of debit card rewards, free checks, and card controls.
Access fee-free services with 55,000 ATMs available worldwide under the AllPoint Network. Manage your money using robust digital banking tools and mobile wallets. Choose the checking account that has low minimums to open.
Be aware of the high monthly service fees ranging from $10-$15 for both interest-bearing checking accounts, requiring a balance of at least $50,000 to receive the highest rate.
Our editorial team objectively determines the Bankrate scores by weighing several factors that consumers must consider when choosing financial products and services. Retaining its rankings as an industry leader for customer experience, Ridgewood Savings Bank offers many tools and services that help clients manage money more efficiently, including Zelle, Mobile Wallet, and Billpay. The bank offers customer service by phone six days a week, and inquiries can be made using the bank’s website.
The bank offers a useful automated service called “Multiply the Change” that rounds up debit card purchases and automatically transfers the amount to a savings account. Ridgewood Savings Bank is the largest mutual savings bank in New York state and operates 35 branches in the New York City metropolitan area.
The bank offers a variety of deposit products, including checking and savings accounts, CDs, a money market account, and even a Vacation and Holiday Club Savings account. It also provides mortgages, credit cards, and personal loans. Customers have access to wealth management and investment services.
To help you find a trustworthy financial institution, Bankrate provides an ever-growing list of bank and credit union reviews updated regularly. You can read our full review methodology to learn more about how we assign a score to each type of account and its features and weigh them carefully based on importance to account holders to determine an overall score.
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