Best Banks in Vermont
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Vermont is one of the most rural states in the U.S. When it comes to choosing a bank in Vermont, there aren’t a lot of options due to its rural nature — however, there are some standouts. Find out about the best Vermont banks for 2025, including checking, savings and certificate of deposit (CD) options.
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GOBankingRates' editorial team is committed to bringing you unbiased bank reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our in-depth bank review methodology.
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TOP VERMONT BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Vermont
Here’s a closer look at GOBankingRates’ selection of the top banks in Vermont.
Gold Winner: Northfield Savings Bank
Northfield Savings Bank, established in 1867, ranks as the largest bank in Vermont. It has $1.5 billion in assets and operates 14 branches in Central Vermont and Chittenden County. As a mutual savings bank, it’s owned by depositors instead of shareholders, which keeps the focus on its customers. It prides itself on offering strength, commitment and caring to individuals and communities.
Best For
Digital Banking
ATM Access
Credit Cards
Low Minimum Deposits
Home Loans
Low Minimum Opening Deposits
Northfield Savings Bank is a full-service community bank that stands out for its low minimum opening deposits of $10 on some of its accounts. NSB is also partnered with the AllPoint ATM Network, which has over 55,000 fee-free ATMs.
Total Branch Locations
13
Mobile App Rating
4.5 on the Apple App Store and on Google Play
Other Products Offered
Checking, savings, money market, CDs, IRAs, mortgages, home equity loans, personal loans, credit-builder loans, auto loans, collateral loans
Pros
- Low minimum opening deposits for checking and savings accounts
- Optional bounce protection limit
- Large network of fee-free ATMs
- Lending decisions are made locally
Cons
- $10 service charge on Money Market Checking unless you maintain $5,000 balance
- Most CD rates are below the national average
- No Saturday hours
Why We Like Northfield Savings Bank
Northfield Savings Bank is the largest bank in Vermont, offering a variety of services and products to meet a wide range of personal banking needs. One of its highlights is its low minimum opening deposit of $10 on checking and savings accounts. It also has access to over 55,000 fee-free AllPoint ATMs nationwide.
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Silver Winner: KeyBank
KeyBank is a large national bank that’s been in business since 1825 and has $185 billion in assets. It doesn’t have a large presence in Vermont with only eight locations, but it does offer a host of financial services and products that you would expect from a bank of its size, including rewards credit cards and checking account bonuses.
KeyBank stands out by meeting customers where they currently are in their financial journey and assisting them on the path to financial wellness.
Best For
Mobile Banking
Low Monthly Fees
Personal Loans
Credit Cards
Interest Checking
Low-Fee Savings and No-Fee Checking Accounts
KeyBank stands out for its impressive selection of checking and savings accounts with benefits smaller banks rarely offer. Key Select checking customers enjoy a APY plus a $100 annual bonus with qualifying direct deposits.
Total Branch Locations
Over 1,000
Mobile App Rating
4.7 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, personal loans and lines of credit
Pros
- Comprehensive selection of accounts
- Bonus and rewards programs
- Low- and no-fee options
- Large network of ATMs
Cons
- High fees on some accounts
- Only one interest-bearing checking account
- Branch access is limited
- High overdraft fee
Why We Like KeyBank
KeyBank offers a well-rounded selection of checking and savings accounts with perks like automatic savings, early pay and overdraft forgiveness for overdrafts of $20 or less. Customer service for online and mobile banking is available by phone seven days per week, and you can make an appointment at your local branch to meet face-to-face with a representative.
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Bronze Winner: Citizens Bank
Citizens Bank was established in 1828 and has over $200 billion in assets. It’s a full-service bank with 11 branches located in Vermont, and some branches offer Saturday hours.
The bank listens to customers and strives to offer tailored advice to fit each person’s needs.
Best For
Mobile App
No Minimum Deposit
Wealth Management
Loan Options
Credit Cards
The More You Save, the More You Earn
Citizens Bank stands out for its blend of nationwide reach in key regions and perks for loyal customers. Whether you're managing everyday banking, planning a major purchase or running a business, the bank's wide product lineup and personalized guidance make it a versatile choice for a variety of financial needs.
Total Branch Locations
More than 1,100
Mobile App Rating
4.7 on the Apple App Store and Google Play
Other Products Offered
Checking, savings, credit cards, home loans, student loans, wealth management, business accounts, investment management
Pros
- Many branch and ATM locations
- CitizensPlus loyalty program offers benefits for your checking account if you have a larger balance
- Complimentary personalized guidance from a Citizens Bank professional
Cons
- Low APYs for Citizens Bank's savings accounts
- High $25,000 minimum deposit requirement to get the highest CD rates, and they aren't the most competitive
- Branches aren't spread throughout the country
Why We Like Citizens Bank
Citizens Bank has a vast footprint in the New England, Mid-Atlantic and Midwest regions with more than 1,100 branches and 3,400 ATMs. The CitizensPlus loyalty program opens a lot of opportunities to save money, such as with mortgage discounts, home equity line of credit discounts, a credit card fee reduction, student loan discounts and personalized financial advice.
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Best Banks
Find the Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Aug. 28, 2025.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Bank in Vermont
Most of Vermont’s population lives in rural areas, and the state has a limited number of banks. Still, you’ll find both local and national options to meet your needs. The key is deciding what matters most to you.
- Local banks: If convenience and everyday banking are your priorities, Northfield Savings Bank partners with the AllPoint network, giving customers access to more than 55,000 fee-free ATMs.
- National banks: If you want a wider range of products and services, a national option like KeyBank may be the better fit.
Ultimately, the best choice depends on your personal financial goals and how you prefer to bank.
Conclusion
When choosing a bank, think about your priorities. Some banks offer the basics, while others go way beyond. Explore the top banks in Vermont to choose the right financial institution for your needs.
FAQs About Banking in Vermont
Here’s more information to help you find the best Vermont bank for your needs.- What is the best bank for high-yield savings in Vermont?
- Overall, the best bank for high-yield savings will likely be an online bank. Online banks are subject to a much lower overhead than brick-and-mortar institutions, which means they can afford to offer higher rates and lower fees to their customers.
- Which banks have the most ATMs in Vermont?
- The largest bank in Vermont is Northfield Savings Bank, which has 14 bank-branded ATMs. NSB customers also have access to over 55,000 fee-free ATMs in the AllPoint network.
- Are there any banks in Vermont with no monthly fees?
- It’s unlikely that there are banks in Vermont with no monthly fees across the board. Some banks offer one or two accounts that are free of monthly maintenance fees. However, online banks, like Ally, are truly free of monthly maintenance fees.
More Resources for Banking
Best Banks
Find the Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Cynthia Measom contributed to the reporting for this article.
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