Spring Bank Review 2022
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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.
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.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
This money market account does have check-writing privileges, which can be a way to make occasional payments.
Basic Checking account holders can use Citibank ATMs in the branches and ATMs in the large MoneyPass network. They’ll also be reimbursed up to $15 per statement cycle for out-of-network ATMs as long as $1,000 is kept in the Basic Checking account.
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.
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.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. Spring BankSpring Bank Review 2022
Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
4.7 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
Spring Bank is best for New Yorkers in the Bronx or Manhattan, where its two branches are located. It also offers competitive yields on savings accounts, checking accounts and CDs.Highlights
ATM Fee Refunds High APY Highly Rated App 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
Spring Bank is a regional bank with two locations in New York.Pros
Spring Bank pays competitive yields on its deposit products. Customers don’t need to make large deposits to open accounts. Customers have access to a mobile app that is favorably rated by Apple and Android users.Cons
Customers have to meet minimum balance requirements to waive fees on some accounts.Spring Bank bank products
Savings CD Money Market Checking 4.8 Bankrate ScoreSpring Bank savings overview
Spring Bank’s basic savings account offers a very competitive yield. It requires only $25 to open and $100 to earn interest. There’s a $5 monthly maintenance fee, but the fee is waived if you maintain at least $100 in the account.Pros
The basic savings account pays a very competitive APY. The opening deposit requirement is only $25.Cons
There’s a $5 monthly fee for those who don’t maintain a $100 balance. 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. 5.0 Bankrate ScoreSpring Bank CD overview
Spring Bank offers eight CDs with terms ranging from three months to five years. All CD terms require only $250 to open and pay very competitive rates.Pros
Spring Bank pays competitive yields on its CDs. All CDs require just $250 to open.Cons
There are no specialty products such as no-penalty or bump-rate CDs. 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. 4.3 Bankrate ScoreSpring Bank money market overview
Spring Bank offers a competitive yield on its money market account. You’ll need to deposit at least $500 into the account to open it. A minimum balance of $5,000 is required to waive the $10 monthly service fee.This money market account does have check-writing privileges, which can be a way to make occasional payments.
Pros
The money market account earns a competitive APY. You can write checks with the money market account.Cons
You’ll need to keep $5,000 in the account to avoid the $10 monthly service fee. 4.2 Bankrate ScoreSpring Bank checking overview
The Basic Checking account at Spring Bank requires an opening deposit of just $25. In order to avoid the $3 monthly service fee, Basic Checking customers will need to keep at least $1,000 in this account or set up a direct deposit.Basic Checking account holders can use Citibank ATMs in the branches and ATMs in the large MoneyPass network. They’ll also be reimbursed up to $15 per statement cycle for out-of-network ATMs as long as $1,000 is kept in the Basic Checking account.
Pros
Only $25 is required to open the Basic Checking account. Customers have access to Citibank ATMs in the branches and MoneyPass ATMs across the country. Account holders can be reimbursed for some out-of-network ATM fees.Cons
Account holders have to meet certain requirements to waive the monthly fee. 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
Spring Bank has two locations in New York - one in the Bronx and one in Manhattan. The bank is a certified B corporation. “We are constantly innovating affordable financial products based on the needs of our community in order for our communities to thrive,” . Customers have access to a range of tools and services. Spring Bank offers an app for Apple and Android devices; both apps receive very high scores from users. Customers can deposit money and pay bills through the app, and can also send and receive money using the Popmoney person-to-person payment service. Branch hours are listed on . For off-hours banking needs, the bank offers a telephone banking system and an email address.About Spring Bank
Spring Bank has two locations in New York. The bank was established in 2007 and offers checking, savings and money market accounts, certificates of deposit, personal loans and other banking products and services. Spring Bank is a whose mission is to “pursue a double bottom line of providing returns to its shareholders and serving the needs of underserved consumers and small businesses in the New York City area.”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. .