North Middlesex Savings Bank Rates & Review

North Middlesex Savings Bank Review

North Middlesex Savings Bank is a Massachusetts Bank that is not only FDIC insured but is also a DIF member to provide insurance coverage for all customer accounts not covered by FDIC insurance.

North Middlesex Savings Bank is an independent community bank headquartered in Ayer, Massachusetts. The bank has a long history since it was incorporated way back in 1885. Just after its one-century-old celebration, the bank began to open branch offices and now has several locations in Massachusetts.

Checking

Customers interested in checking can choose from over half a dozen account types at this bank. They include free checking, student checking, low-fee unlimited check writing, low-balance unlimited check writing, an interest bearing NOW account and a high-interest rewards checking account.

Saving

Checking accounts are great but savings accounts are where the real money is. This bank offers statement and passbook savings accounts. They also have high yield savings accounts including some that come with bonus interest earnings for part of the year. Their money market account opens with $1,000.

Additionally, this bank offers CD accounts. What's neat about their CDs is that customers earn bonus interest on CDs when they open other accounts at the bank or take out a loan with the bank.

Loans

This bank features three different types of home loan: mortgage, home equity and construction loans. Additionally, bank customers can apply for auto loans, unsecured personal loans and collateral loans. Collateral loan customers can use their CD or passbook savings account for collateral.

Deposit insurance

North Middlesex Savings Bank is a member bank of the Federal Deposit Insurance Corporation. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

Additionally, this bank is a member of Depositors Insurance Fund (DIF), which insures all deposits and interest not covered by the FDIC.

Compare savings account interest rates from North Middlesex Savings Bank and hundreds of other banks and credit unions at SavingsAccounts.com.