Somerset Savings Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.00% | 5-year CD | 2.27% - National Average |
| 0.10% | 1-year CD | 1.38% - National Average |
| 0.05% | Savings | 0.26% - National Average |
Somerset Savings Bank is headquartered in Bound Brook and is the 39th largest bank in the state of New Jersey. It is also the 1,282nd largest bank in the nation. It was established in 1887 and as of December of 2018, it had grown to 68 employees at 7 locations. Somerset Savings Bank's CD rates are 17% higher than the national average, and it has an A health rating.
Bank Experience
Very bad experience. Teller in 1st cubicle in Middlesex branch is very rude, very loud, talkative that everyone hears. She harassed me 3 times with her nasty, unprofessional remarks to me and management just watching not intervening to just calm her down. I will close my account because of her.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 28778 |
| Year Established | 1887 |
| Employees | 68 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.59% |
| Return on Equity - YTD | 2.97% |
| Annual Interest Income | $15.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $565.4MM$571.3MM |
| Loans | Q4 2018vs Q4 2017 | $334.2MM$279.0MM |
| Deposits | Q4 2018vs Q4 2017 | $447.6MM$454.7MM |
| Equity Capital | Q4 2018vs Q4 2017 | $113.9MM$112.0MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $900.00K$760.00K |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $132.00K$407.00K |
| Real Estate Owned | Q4 2018vs Q4 2017 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Somerset Savings Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Somerset Savings Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.10%* | $10k* | - | Tiered Savings | ||
| OTHER TIERS: 0.05% → Up to $10k | |||||
| 0.05% | $50 | - | Passbook Savings | ||
| 0.05% | $50 | - | Statement Savings | ||
Somerset Savings Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | $250 | - | Provider Money Market Account |
Somerset Savings Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | $500 | - | NOW Checking with Interest | |
| 0.05% | $500 | - | Free 50+ Checking with Interest |
Somerset Savings Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $500 | - | 36 Month CD | |
| 2.50% | $500 | - | 24 Month CD | |
| 2.40% | $500 | - | 15 Month CD | |
| 2.00% | $500 | - | 60 Month CD | |
| 1.05% | $500 | - | 12 Month CD | |
| 0.60% | $500 | - | 48 Month CD | |
| 0.50% | $500 | - | 42 Month CD | |
| 0.40% | $500 | - | 30 Month CD | |
| 0.20% | $500 | - | 18 Month CD | |
| 0.15% | $500 | - | 13 Month CD | |
| 0.10% | $500 | - | 6 Month CD | |
| 0.10% | $500 | - | 9 Month CD | |
| 0.10% | $500 | - | 10 Month CD |
Somerset Savings Bank IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $500 | - | 36 Month IRA | |
| 2.68% | $500 | - | 18 Month Variable IRA | |
| 2.50% | $500 | - | 24 Month IRA | |
| 2.40% | $500 | - | 15 Month IRA | |
| 2.00% | $500 | - | 60 Month IRA | |
| 1.05% | $500 | - | 12 Month IRA | |
| 0.60% | $500 | - | 48 Month IRA | |
| 0.50% | $500 | - | 42 Month IRA | |
| 0.40% | $500 | - | 30 Month IRA | |
| 0.20% | $500 | - | 18 Month IRA | |
| 0.15% | $500 | - | 13 Month IRA | |
| 0.10% | $500 | - | 6 Month IRA | |
| 0.10% | $500 | - | 9 Month IRA | |
| 0.10% | $500 | - | 10 Month IRA |
| Somerset Savings Bank Locations | ||
|---|---|---|
| Middlesex | 1305 Bound Brook Road | Middlesex, NJ 08846 |
| Flemington | 141 Broad Street | Flemington, NJ 08822 |
| Somerset Savings Bank, SLA | 220 West Union Avenue | Bound Brook, NJ 08805 |
| Manville Branch | 41 South Main Street | Manville, NJ 08835 |
| Whitehouse Branch | 410 Us 22 | Whitehouse Station, NJ 08889 |
| Somerville | 64 West End Avenue | Somerville, NJ 08876 |
| Raritan | 802 Somerset Street | Raritan, NJ 08869 |