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Cambridge Savings Bank

Popular Accounts at this Bank

2.00%Reward CheckingCSB One Checking
1.50%5-year CD5 Year CD
0.45%1-year CD1 Year CD

Overview / Commentary
1374 Massachusetts Avenue
Cambridge, MA 02138

Cambridge Savings Bank is headquartered in Cambridge and is the 11th largest bank in the state of Massachusetts. It is also the 272nd largest bank in the nation. It was established in 1834 and as of June of 2017, it had grown to 342 employees at 16 locations. Cambridge Savings Bank's money market rates are 3X the national average, and it has an A health rating.

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Reviews (4)

Better Than Most

Posted by: LP | Oct 12, 2011

This is a great bank with excellent customer service. The interest for SuperSmart Checking is currently at 2% annually which is a lot lower than a year ago (4%), but still very good in comparison to other banks. The requirements are not too difficult to meet with (1)10 debit transactions per month, (2)eStatement enrollment, and (3)direct deposit (no minimum).

Keep in mind, credit transactions on the debit card DO count as debit transactions. No fee if you do not meet the 3 requirements, and ATM fees are STILL reimbursed. You can only have one account per household, which caps the SuperSmart interest to $25,000 per household (.025% on funds greater than that OR on everything if you don't meet the requirements).

The only annoyance I've encountered iis that the bank charges for debit card replacement. I think this is fair, especially compared to the fees other banks charge on ridiculous requirements, but still an annoyance.

Rewards Checking Was Better

Posted by: Anonymous | Sep 13, 2011

I signed up with this bank after I moved to the area, as they're close to my commute. Their rewards checking reeled me in, as at the time (Dec 2010) they were offering 3.75% APY on it, with 10 debit transactions, direct deposit, and e-statements. It's now September 2011, and the rate has dropped like a rock to 2.00%, with the same criteria. They reimburse foreign ATM fees, but I never use that feature. I may start looking for alternatives with a higher rate, but in general they're pretty okay.

Cambridge Savings Bank Is Ok After All...

Posted by: 51hh | Nov 6, 2010

Since they changed/enahnced their SuperSmart Checking terms (from 15 debit transactions to 10 and from monthly fee waived only with 20 debit transactions to no monthly fee), and one branch is just one mile from my home; I went in and opened an account with them this morning.

The account opening is both smooth and speedy. I later wanted to add my wife to my account (as a joint account) and it took ten more minutes. Some great benefits:

-- Unlimited ATM refund with other banks

-- Friendly and superb customer service

-- One box of free checks, plus starter checks

-- ID monitor/protection

-- Free ACH to other banks (very rare these days)

-- Large asset size ($2.2B)

-- FDIC plus Mass DIF protection

-- Minimum check-hold even for new accounts (next-day availability)

Well, I do not like the hard-pull, but it is worthwhile in this case.

I think it is a good bank with a good reward checking account offer.

Poor Customer Service And Will Deny Clients With High Credit Scores

Posted by: sorinc23 | Oct 2, 2010

As strange this may appear, this bank denied my application for a high yield checking, since I have over 820 credit score, and already a checking with Danversbank (just maxed out the $25k limit). So they must have figured that I want to park $25k and do all the requirements to qualify for the 4% APY.

They will deny clients like that, since they make money when you forget to meet all requirements.

Also, they pull a HARD inquiry on your credit score, I learned the hard way, even though they only disclaim a "verification inquiry".


Health Grade Components

FDIC Certificate #17870
Year Established1834
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD7.64%
Annual Interest Income$59.2MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$3.55B$3.41B
LoansQ2 2017vs Q2 2016$2.78B$2.63B
DepositsQ2 2017vs Q2 2016$2.70B$2.54B
Equity CapitalQ2 2017vs Q2 2016$327.1MM$302.6MM
Loan Loss AllowanceQ2 2017vs Q2 2016$29.7MM$24.5MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$14.9MM$5.4MM
Real Estate OwnedQ2 2017vs Q2 2016$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Cambridge Savings Bank Savings Account Rates

0.05%--Simple Savings

Cambridge Savings Bank Money Market Rates

1.25%*$25k*$1mPerformance Plus MMA Special (Available if you work or live in New England)
OTHER TIERS: 0.10% $10k - $25k
0.60%$50k-Performance Money Market Account - Bonus Tier
0.20%*$50k*-Performance Money Market Account
OTHER TIERS: 0.05% $10 - $10k | 0.10% $10k - $30k | 0.15% $30k - $50k

Cambridge Savings Bank Checking Account Rates

2.00%-$5kCSB One Checking
0.05%--Performance Plus Checking

Cambridge Savings Bank CD Rates

2.00%--59 Month CD Special
1.60%--34 Month CD Special
1.50%--5 Year CD
1.25%--14 Month CD Special
0.90%--3 Year CD
0.80%--2 Year CD
0.45%--1 Year CD
0.35%--6 Month CD
0.25%--3 Month CD

Cambridge Savings Bank IRA Rates

2.00%--59 Month IRA Special
1.60%--34 Month IRA Special
1.50%--5 Year IRA
1.25%--14 Month IRA Special
0.90%--3 Year IRA
0.80%--2 Year IRA
0.45%--1 Year IRA
0.35%--6 Month IRA
0.25%--3 Month IRA