Ridgewood Savings Bank Review 2022 Bankrate
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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Two interest-bearing accounts offering competitive rates and some added benefits are also available, though the monthly fees are higher and the amounts required to waive them are steeper.
Checking account features include debit card rewards, a free order of checks and some helpful card controls (including the ability to turn your debit card on or off as needed).
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Ridgewood Savings BankRidgewood Savings Bank Review 2022
Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
4.5 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Ridgewood Savings Bank is a good option for savers in the New York City area. It offers competitive rates and a wide variety of products and services that often come with attractive perks and helpful digital features.Highlights
Digital Leader High APY Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Ridgewood Savings Bank offers the personal attention of a community bank combined with an impressive lineup of digital banking tools and services. Customers have access to competitive savings rates and an extensive network of 55,000 surcharge-free ATMs worldwide in the AllPoint Network.Pros
APYs are competitive across the board, with the Smart Move Online Savings account offering top-tier rates. Convenient digital banking tools are available, such as Alexa Voice Banking and Money Management for budgeting. Debit card users can take advantage of two free rewards programs to get cash back or other offers, such as gift cards.Cons
Many accounts charge monthly service fees that aren’t easily waived. Customers outside of the New York City area don’t have access to in-person banking, and only residents of New York state are able to open accounts at a branch.Ridgewood Savings Bank bank products
Savings CD Money Market Checking 5.0 Bankrate ScoreRidgewood Savings Bank savings overview
Ridgewood Savings Bank offers a variety of savings accounts. The SmartMove Online Savings account offers customers a high rate with no monthly service fees. Statement and passbook savings accounts, which offer lower rates, are also available and provide some added convenience for customers who also want to bank in person or over the phone.Pros
The online-only account offers a top-tier rate. The online-only account has no monthly service fee, while other savings accounts have a low $2 fee, which can be easily waived with a qualifying balance.Cons
Expedited outgoing external transfers cost $6.95 each occurence. Higher rates can be found elsewhere. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 4.5 Bankrate ScoreRidgewood Savings Bank CD overview
Ridgewood Savings Bank offers CDs with a wide variety of terms ranging from three months to seven years that require just $100 to open. Yields are competitive, yet some online banks and credit unions offer higher rates.Pros
A broad range of CD terms are available ranging from three months to seven years. APYs are attractive across terms, with only a single rate tier. Just $100 is required to open an account.Cons
Early withdrawal penalties are on the high side. For example, a withdrawal from a CD before the maturity date will lead to a penalty of 270 days' interest, if the term is between one and two years. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 3.4 Bankrate ScoreRidgewood Savings Bank money market overview
Ridgewood Savings' PowerFlex Money Market account offers three balance tiers, and though rates are decent, they fall short compared to the APYs for the online savings account. The account also requires at least $1,000 to open and a balance of at least $25,000 to earn the highest rate. What’s more, if the balance falls below $1,000, expect to be hit with a $15 monthly maintenance charge.Pros
Free in-person withdrawals are available at any branch. Supersavers can take advantage of a higher yield on larger balances while maintaining liquidity. Check-writing privileges are available.Cons
The $15 monthly maintenance fee is hefty in an otherwise low rate environment. Rates are a bit underwhelming, especially when compared to the online savings account. 4.6 Bankrate ScoreRidgewood Savings Bank checking overview
Ridgewood Savings offers several checking account options. Its Ridgewood Good account charges a $3 monthly fee, but it’s easily waived by signing up for electronic statements or with a monthly direct deposit of at least $300.Two interest-bearing accounts offering competitive rates and some added benefits are also available, though the monthly fees are higher and the amounts required to waive them are steeper.
Checking account features include debit card rewards, a free order of checks and some helpful card controls (including the ability to turn your debit card on or off as needed).
Pros
The Ridgewood Good account monthly fee is easy to avoid. Customers get fee-free access to 55,000 ATMs worldwide in the AllPoint Network. Robust digital banking tools for managing money and a mobile wallet are available. All checking accounts feature low minimums to open.Cons
Monthly service fees for either interest-bearing checking account is high at $10-$15. To earn the highest rate, a balance of at least $50,000 is required. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Ridgewood Savings Bank gets high marks for customer experience, providing many tools and services to help clients manage money more efficiently. From Zelle to Mobile Wallet to Billpay, the bank offers as many money-moving services as most big banks. Its app is highly rated in both the Apple App Store and Google Play Store. Customer service is available by phone six days a week: Monday through Friday, 7 a.m. to 7 p.m., and Saturday, 8 a.m. to 3 p.m., Eastern time. Inquiries can also be made using the bank’s website. The bank also offers an automated service called “Multiply the Change” that rounds up debit card purchases and automatically transfers the amount to a savings account to help customers grow their nest eggs.About Ridgewood Savings Bank
Ridgewood Savings Bank is the largest mutual savings bank in New York state and operates 35 branches in the New York City metropolitan area. Chartered as The Savings Bank of Ridgewood in 1921, it first operated out of a converted taproom. 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 offers mortgages, credit cards and personal loans. Customers also have access to wealth management and investment services.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .