Granite Savings Bank Rates & Review

Granite Savings Bank Review

Granite Savings Bank in Rockport, Massachusetts, offers checking, savings and loans to their personal banking customers.

Granite Savings Bank is a state-chartered mutual savings bank founded in 1884. Headquartered in Rockport, Massachusetts, it is a single-location bank supplemented by standalone ATMs in the region. The bank is a member of the SUM (Save U Money) Program, which eliminates surcharges at certain ATMs.

Checking account choices

There are three personal checking account options at Granite Savings Bank. The basic checking account has no minimum balance and no maintenance fees. The Granite Account and the NOW account are interest-bearing checking accounts which are free of monthly with a daily required minimum balance. There is also a Business NOW account.

Savings account options

Savings account options include:

• Statement savings
• Passbook savings
• Christmas Club holiday savings account
• Money market account, a high interest savings account
• CD account options ranging from 3 months to 5 years

Free services

On most accounts the bank offers free services including direct deposit, overdraft protection with an approved line of credit, and online banking with bill payment and funds transfer. Most accounts also come with a debit card that offers advanced security with the MasterCard SecureCode program. This program adds a security code to online purchases to protect against identity theft.

Deposit insurance

Accounts are FDIC insured as allowable by law. As of Sept. 2010, Granite Savings Bank is also a member of the Depositors Insurance Fund (DIF). The DIF insures deposits above FDIC limits, providing insurance coverage for Granite Savings Bank deposits.

Consumer loans

This bank offers home loans and personal consumer loans.