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NBT Bank (NY) Review | Review, Fees, Offerings


NBT Bank was founded in 1856 with headquarters located in Norwich, New York. NBT Bank has $9 billion in assets and $7 billion in deposits, making it a large bank. NBT Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated NBT Bank 3.7 out of 5 stars, indicating that it is a decent choice, but with better options out there. NBT Bank offers the complete slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for getting the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset’s Overall Rating

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


With a savings rate of 0.05%, NBT Bank ranks poorly compared to the average U.S. bank. Its one-year CD earns at a rate of 0.40% and the five-year CD earns at a rate of 1.25%, while its highest-yielding money market account has an APY of 0.05%. Given its below average savings rate, you should consider other options to earn more on your deposits.

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How NBT Bank’s Savings Rates Compare

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NBT Bank charges its customers above-average fees compared to the national average. For those who will need cash in a pinch, NBT Bank is fair because it has an out-of-network ATM fee of $1.25, which is reasonable in comparison to other U.S. banks. Additionally, NBT Bank has an overdraft fee of $35.00, which is on par with the national average. NBT Bank does not refund out-of-network ATM fees, meaning you’ll be required to locate a NBT Bank ATM or accept the withdrawal fee.

Monthly Fee N/A National Average: $3.21

Non-network ATM Fee $1.25 National Average: $1.20

Overdraft Fee $35.00 National Average: $35.00

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Service Quality

NBT Bank is a brick-and-mortar bank, with 156 total bank locations in Maine, Massachusetts, New Hampshire, New York, Pennsylvania and Vermont. It also offers access to mobile and web apps for a simple mobile-banking experience. NBT Bank gets inferior feedback from users for its mobile banking services. Out of 540 ratings across Apple and Android platforms, the NBT Bank mobile app has an overall rating of 2.6 out of 5 (compared to the national average of 3.8). NBT Bank’s mobile app allows you to control your bank accounts by looking at account balances, transferring money as well as accessing support representatives. NBT Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 2.6/5

Consumer Satisfaction Rating 5.0/5

Online Banking Portal No

Live Chat No

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Financial Health

NBT Bank is a large bank owning $9 billion in assets and $7 billion in deposits. Its Texas Ratio is 2.88%, denoting a low likelihood of failure. Additionally, NBT Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a “bad assets” against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare NBT Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $25
Checking Account 0.01% APY $2500
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.25% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

NBT Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. NBT Bank does not have the best savings rate, which means you should think about taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. NBT Bank’s CD rates are fair compared to other U.S. banks.

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Find a NBT Bank Near Me

NBT Bank has 156 locations in the U.S.

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Save more with these rates that beat the National Average

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