Northfield Savings Bank Review: Competitive Rates and Account Options
Written by
Daria Uhlig
Edited by
Joe Evans
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- Northfield Savings Bank at a Glance
- Northfield Savings Bank Checking Account
- Northfield Savings Bank Savings Account
- Northfield Savings Bank CD Account
- Northfield Savings Bank Money Market Account
- Banking Experience
- Comparable Regional Options
- Who Northfield Savings Bank Is Best For
- Overall Banking Experience
- Final Take to GO
Earn more than 3x the average annual percentage yield with Northfield Savings Bank's Money Market Checking Account.
Northfield Savings Bank is a full-service Vermont financial institution founded in 1867. As a local bank owned by depositors, not shareholders, Northfield focuses on customer service and community, providing a range of deposit accounts for consumers and businesses. Investing is available through Northfield Investment Services. The bank earned the gold for Best Banks in Vermont in GOBankingRates' Best Banks of 2025 ranking.
Northfield Savings Bank is a long-established community bank serving Vermont with a focus on traditional banking, local lending and in-person service. While its deposit rates are typically more conservative than national high-yield accounts, the bank continues to appeal to customers who prioritize stability, branch access and keeping their banking local.
This review breaks down Northfield Savings Bank’s current savings, money market and CD offerings, who the bank is best suited for and where it may fall short for rate-focused savers.
Northfield Savings Bank at a Glance
| Feature | Details |
|---|---|
| Founded | 1867 |
| Headquarters | Northfield, Vermont |
| Branch footprint | Primarily Vermont |
| Banking model | Community bank |
| Deposit insurance | FDIC |
Northfield Savings Bank Checking Account
NSB Basic Checking, the standard account of the three accounts NSB offers, makes it easy to do everyday tasks like pay bills and manage your accounts. It could be a good choice for anyone who maintains a high enough balance to avoid the monthly fee.
- The Basic Checking account comes with a $7.50 monthly fee. You can avoid this by maintaining a $750 balance — a little high, considering that many banks waive checking account fees for customers who receive e-statements.
- Customers ages 65 and older pay no monthly fee.
- NSB has a couple of overdraft options, including Bounce Protection. This allows NSB to approve transactions even if your account can’t cover them. However, you’ll pay $30 per incidence, whether or not they’re approved.
- Sweep overdraft protection transfers are more reasonable at $5 each but require an NSB savings account or home equity line of credit.Â
- Payment methods you can use with this account include mobile wallet payments from your Android, Samsung or iOS device.
- NSB also offers a checkless Free E-Checking account, which has no fees when you opt for e-statements, and the interest-bearing NSB Preferred Checking, which pays competitive rates on balances of $1,500 and over.
Best For
Banking in Vermont
Mobile App
Low Monthly Fees
Credit Cards
Low Minimum Deposit
Low $10 Deposit To Open
Northfield Savings Bank’s checking accounts offer flexibility and competitive rates on the Preferred Checking account. Enjoy mobile payments and no monthly fees for customers aged 65 and older.
Fees
$0 to $10 monthly
APY
Up to
Min Opening
$10
Pros
- No monthly fee for NSB Basic Checking customers ages 65 and older
- Low minimum opening deposits
- Competitive interest rate on qualifying NSB Preferred Checking balances
- Large network of free ATMs
Cons
- High minimum balances to waive monthly fees on NSF Basic Checking and Preferred Checking accounts
- High overdraft fee for Bounce Protection transactions
Quick Take
Northfield Savings Bank’s checking accounts provide the functionality you need for everyday expenses, plus the opportunity to earn competitive rates on higher balances.
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Northfield Savings Bank Savings Account
The Regular Savings Account at Northfield Savings Bank offers an interest-bearing option for your everyday savings with a low minimum deposit and an easily waived fee.
- Northfield Savings Bank’s Regular Savings Account requires just $10 to open.
- The account has a $5 monthly fee, but the bank waives it when you maintain an average daily balance of just $250.Â
- All balances earn interest. However, the rate is lower than average.
- You can use this account to provide overdraft protection for your NSB Basic or Preferred checking account.
- Other Northfield savings accounts include Club Savings for special purposes, and a youth account you and your child can open as joint account holder. Both of these accounts are free, and they earn the same rate as Regular Savings.
Best For
Banking in Vermont
Mobile App
Low Monthly Fees
Credit Cards
Low Minimum Deposit
Earn Interest on All Balances
The Regular Savings Account at Northfield Savings Bank offers an easy-to-manage savings option with a low minimum deposit. While the interest rate is modest, it’s a simple way to grow your savings with no monthly fee if you maintain a low balance.
Fees
$0 to $8 monthly
APY
Min Opening
$10
Pros
- Low, easy-to-waive fee
- All balances earn interest
Cons
- Below-average interest rate
Quick Take
The Northfield Savings Bank Regular Savings Account lets NSB checking customers earn a little bit of interest while avoiding expensive overdrafts.
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Northfield Savings Bank CD Account
Northfield Savings Bank certificates of deposit are available for terms of six months to five years. This type of account helps you balance interest earnings with access to your money.
- The minimum opening deposit for a Northfield CD is $1,000, which is typical.Â
- Rates range from for a six-month CD to for a 60-month CD.
- The shorter-term rates are below average, but rates on terms of 36 months to 60 months are well above average.Â
- The CDs are available to those who live, work or own a home in Vermont and can open the account in person.
- Northfield Savings Bank sometimes offers CD specials as well as no-penalty and flexible CDs.
Best For
Banking in Vermont
Mobile App
Low Monthly Fees
Credit Cards
Low Minimum Deposit
Solid Rates on Longer Terms
Northfield Savings Bank’s CDs offer competitive rates, especially for longer terms. A $1,000 minimum deposit is required, and the account must be opened in person.
Fees
Early withdrawal penalties may apply
APY
Up to
Min Opening
$1,000
Pros
- Competitive rates on longer-term CDs
Cons
- Must open in person
Quick Take
In the current rate environment, where rates are slowly falling, Northfield’s longer-term CDs provide good value.
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Northfield Savings Bank Money Market Account
While most money market accounts combine the features of checking and savings accounts, Northfield separates them into two different accounts: Money Market Checking and Money Market Savings.
- Money Market Checking is for checking customers who maintain high balances — you need at least a $5,000 average daily balance to avoid the $10-per-month service fee.
- Even the lowest Money Market Checking rate is several times higher than the national average for interest checking.
- Money Market Checking’s top rate is for balances of $250,000 or higher. However, you should never keep more than $250,000 in an account without verifying that your entire balance is FDIC insured.
- The account qualifies for overdraft protection and Bounce Protection.
- Money Market Savings offers lower rates.
- You’ll need at least a $500 minimum average daily balance to earn interest for the Money Market Savings account.Â
- NSB will waive the $8 monthly service fee when you maintain at least a $2,500 balance in Money Market Savings.
Best For
Banking in Vermont
Mobile App
Low Monthly Fees
Credit Cards
Low Minimum Deposit
Min. Balance to Earn APY $0
Northfield Savings Bank’s Money Market accounts offer competitive interest rates — topping out at for balances over $250,000. A $5,000 minimum balance is required to avoid the $10 monthly fee.
Fees
$8 monthly
APY
Up to
Min Opening
$10
Pros
- Competitive interest with Money Market Checking
Cons
- Lower rates with Money Market Savings
- High balances required to avoid fees
Quick Take
Northfield Savings Bank’s Money Market Checking provides higher interest rates for larger balances, making it a great option for customers who can maintain a higher average daily balance.
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Banking Experience
The quality of your experience depends on factors like customer service, the ease with which you can access your funds and mobile banking capabilities.Â
- Customer service: Northfield Savings Bank provides live customer service by phone from 8 a.m. until 5 p.m. Monday through Friday. The bank has no weekend hours.
- Access: You can make free withdrawals from a large network of Allpoint ATMs. However, if you prefer to bank in person, you might be disappointed with branch lobby and drive-thru availability. Service is only available Monday through Friday, from 8 a.m. until 5 p.m.Â
- Mobile banking: Northfield’s mobile app lets you take care of all your routine banking tasks, including transfers and deposits, using your mobile device. Some users report issues with mobile deposit using the Android version and trouble navigating using iOS. However, iOS and Google Play users both rate the app 4.5 out of five stars.Â
Comparable Regional OptionsÂ
Northfield Savings Bank is one of several banks local to New England. Here’s how it stacks up to some of its competitors.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $10 monthly
$0 monthly fee
$0 – $3.95
APY
APY
APY
Up to
N/A
Min Opening
Min Opening
Min Opening
$10
$10
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $8 monthly
$5 waivable monthly service fee
No monthly service fee
APY
APY
APY
to
Min Opening
Min Opening
Min Opening
$10
$250
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties may apply
Early withdrawal penalties may apply
No monthly service fee
APY
APY
APY
Up to
Up to
to
Min Opening
Min Opening
Min Opening
$1,000
$1,000
$500
Northfield Savings Bank vs. Liberty Bank
Liberty Bank has two checking accounts with no maintenance fee and cash-back perks. Quarter Back Checking delivers $0.25 cash back on debit card transactions of $25 or more. PayBack Checking refunds other banks’ ATM fees, up to $15 per month.
Northfield Savings Bank vs. Centreville Bank
Centreville Bank, based in Rhode Island, offers lower rates on regular savings than you’ll get at Northfield. The high-yield account, on the other hand, has a better rate, although you’ll need a minimum balance of $2,500 to earn interest.
Northfield Savings Bank vs. Berkshire Bank
Berkshire Bank provides traditional bank accounts and personalized service at over 80 locations, but if you don’t need to bank in person, consider Berkshire One, the bank’s digital-only suite of products. You can earn high yields on savings and money market accounts and CDs, and earn additional perks like refer-a-friend bonuses and cash back on your streaming services for two years.
Who Northfield Savings Bank Is Best For
Best Fit
- Customers who value local branches and in-person service
- Households keeping checking, savings and loans at one institution
- Savers prioritizing stability and community banking
Less Ideal
- Rate-focused savers chasing top APYs
- Digital-first users comfortable with online-only banks
- Large idle balances seeking aggressive interest growth
Overall Banking Experience
Northfield Savings Bank delivers a traditional community banking experience centered on personal service and regional familiarity. Digital tools support everyday needs, but the bank’s core value proposition remains relationship-driven rather than technology- or yield-driven.
Final Take to GO
Northfield Savings Bank is a solid choice for customers who value local service, branch access and a conservative approach to banking. While its savings, money market and CD rates typically lag higher-yield options, the trade-off is stability, trust and community presence.
Northfield Savings Bank FAQ
Here are the answers to some of the most frequently asked questions about Northfield Savings Bank.- Is Northfield Savings Bank FDIC-insured?
- Yes. Deposits are insured by the FDIC up to applicable limits.
- Does Northfield Savings Bank offer high-yield savings accounts?
- Does Northfield Savings Bank offer high-yield savings accounts?
- Are Northfield Savings Bank CDs competitive?
- CDs may work for local customers seeking predictability, but rates are usually lower than top national offerings.
- Is Northfield Savings Bank good for everyday checking?
- Yes, especially for customers who value branch access and local customer support.
- Who should consider banking elsewhere?
- Savers focused on maximizing interest or managing money entirely online may find better options.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 5, 2026.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
