2. Savings Institute Bank & Trust

Savings Institute Bank & Trust

Popular Accounts at this Bank

APYACCOUNT TYPEHOW THEY COMPARE
0.05%Checking
1.01% - nbkc bank Personal Account
1.15%5-year CD
3.10% - American Express National Bank 60 Month CDAdvertisement
0.25%1-year CD
1.30% - National Average
View all Savings Institute Bank & Trust rates »

Overview / Commentary
www.savingsinstitute.bank
860-449-6702
803 Main Street
Willimantic, CT 06226

Savings Institute Bank & Trust is headquartered in Willimantic and is the 9th largest bank in the state of Connecticut. It is also the 518th largest bank in the nation. It was established in 1842 and as of September of 2018, it had grown to 293 employees at 23 locations. Savings Institute Bank & Trust's money market rates are 3X the national average, and it has an A health rating.

Related Posts

Savings Institute B&T Adds No-Penalty 17Mo Access CD - 9/3/2018

Savings Institute Bank & Trust (CT/RI) has added a 17-month Access CD (2.75% APY) that allows one penalty-free withdrawal during the term. $500 min/$1m deposit new money.

2.70% APY 27-Month CD Special (w/Checking) In CT & RI - 5/5/2018

27 Month Special 2.70% APY With Active Savings Institute Checking Account 2.45% APY Without Active Savings Institute Checking Account They also have a 2.00% / 1.75% APY 14-Month CD. $500.00 Minimum Deposit to Open Account Maximum deposit for 14 and 27 Month CD is $1,000,000. Rates Effective 5/1/2018 https://www.savingsinstitute.bank/resources/resources/rates#cds

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Reviews (1)

Savings Institute Bank: A Great Start

Posted by: katrinahines | May 9, 2017

This was the first bank I ever used due to the fact that it was only a block down from where I live. I remember going with my dad to set up the account, but everyone was quite helpful. I just got a basic savings account for a kid with a summer job so I can't go into too much detail about their plans and whatnot. My account had the average interest for a savings account, something like 1% a month. I think there are some locations around CT and in Rhode Island, but according to the website, they aren't a national chain. They also had a coin changer there that was very useful and open to anybody who has an account with them. It's much better than Coinstar or something for large amounts because they don't charge you any fee to use the machine. I don't think they had online banking at the time, but I didn't have a smartphone anyway when I opened the account.

1


Health
A

Data as of Q3 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #18214
Year Established1842
Employees293
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD6.48%
Annual Interest Income$42.6MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$1.60B$1.57B
LoansQ3 2018vs Q3 2017$1.28B$1.23B
DepositsQ3 2018vs Q3 2017$1.25B$1.22B
Equity CapitalQ3 2018vs Q3 2017$164.0MM$163.3MM
Loan Loss AllowanceQ3 2018vs Q3 2017$14.2MM$12.2MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$8.3MM$3.5MM
Real Estate OwnedQ3 2018vs Q3 2017$608.00K$1.7MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Savings Institute Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.19%--Variable Rate IRA
0.05%$5-Statement Savings

Savings Institute Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%*$10k*$1mSavvy Money Market
OTHER TIERS: 0.10% → Any amount
0.25%*$1m*$10mMoney Market Special
OTHER TIERS: 0.05% → Up to $5k | 0.10% → $5k+ | 0.15% → $25k - $50k | 0.20% → $50k - $1m

Savings Institute Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-Choice Alliance Checking

Savings Institute Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$500-20 Month CD Special w/ Active Savings Institute Checking Account
2.75%$500$1m17 Month Access CD w/ Active Savings Institute Checking Account - New Money
2.75%$500-20 Month CD Special w/o Active Savings Institute Checking Account
1.21%$500-6 Year CD
1.15%$500-5 Year CD
1.10%$500-4 Year CD
0.75%$500-3 Year CD
0.45%$500-2 Year CD
0.30%$500-18 Month CD
0.25%$500-1 Year CD
0.20%$500-6 Month CD
0.15%$500-3 Month CD

Savings Institute Bank & Trust IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$500-20 Month IRA Special w/ Active Savings Institute Checking Account
2.75%$500-20 Month IRA Special w/o Active Savings Institute Checking Account
1.21%$500-6 Year IRA
1.15%$500-5 Year IRA
1.10%$500-4 Year IRA
0.75%$500-3 Year IRA
0.45%$500-2 Year IRA
0.30%$500-18 Month IRA
0.25%$500-1 Year IRA
0.20%$500-6 Month IRA
0.15%$500-3 Month IRA
Locations

Availability



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