greenfield savings bank

In the banking industry, Greenfield Savings Bank (GSB) becomes an example of better banking that comes through a huge transformation. As a medium-sized bank, this one still surprises us with its services and net worth.

Today, we are here to talk about the most interesting and reliable services of this bank. And that is its mortgage facility as well as its rate. We found it is necessary to talk because the rate fluctuated and the mortgage process became complicated.

It’s not possible to access all the services related to this bank. Keep reading, you’ll find every detail about it.

Read More: How To Read A Check

About Greenfield Savings Bank:

As a popular financial institution, Greenfield Savings Bank has been doing its activities since 1869 as a bank and it is still fully functional. Its headquarter is situated in Greenfield, MA.

They are focused to serve the general consumer and business. From checking to loan, this bank does everything. Following the success, they are still expanding and adding convenient services and branches all over the country.

This privately held institution never declines to give services. They’re best for trust and investment services as well.

Greenfield Savings Bank has a great banking history
Picture: Greenfield Savings Bank has a great banking history

Service Quality of The GSB:

This brick-and-mortar bank adapts modern technology and methods to operate its banking service. Including mobile apps and websites. Now, anyone can reach them easily.

They make the banking services straightforward, even on the go. Its user-friendly apps work beautifully with Apple and Android platforms.

It opens the way to give you full control of your funds. Anytime, anywhere you can check your banking status like account balances, transferring money, and reaching customer services as well.

GSB offers a wide range of banking service
Picture: GSB offers a wide range of banking service

Which Types of Products GSB Offers?

Now come to the main point and it’s about their product and services. You need to be sure about all the products and the rate of this bank. All of them are given below.

ProductCurrent Terms and RatesMinimum Balances for APY
Savings Accounts0.05% APY$10
Certificates of Deposit12 Months: 0.20% APY, 24 Month: 0.30% APY, 36 Month: 0.40% APY, 48 Month: 0.50% APY, 60 Month: 0.60% APY$10 for all tiers    
Money Market Accounts0.10% APY$1,000
Checking Accounts0.03% APY$1

To manage your money as you wish, GSB gives you all these financial products as we mentioned earlier. In a few cases, they don’t offer the best rate, especially for the saving account. But some of them are the best in this business.

If you look for the CD, then you’ll understand why I’m saying that. It’s a terrific product, from which you can have more return than anything. But sometimes consumers feel there is some limitation to accessing money.

At the end of the day, the rates of their products are not the best but fair enough compared to other banks.

What About Mortgage Rates?

The mortgage facility of this bank opens a way of opportunity for your money. When you go to their website then look for the residential lending rate. Here you can find the mortgage rate for that day. For your help, we picked the latest

Picture: Homepage of GSB website

Fixed-Rate Product (1 to 4 family owner-occupied properties):

Product DescriptionRateMaximum TermDiscount PointsAnnual Percentage RatePayments Per $1000
  30-Year Fixed2.750%30 Years23.000%$4.08
2.875%30 Years13.046%$4.15
3.000%30 Years03.093%$4.22
  20-Year Fixed2.625%20 Years22.979%$5.36
2.750%20 Years12.992%$5.42
2.875%20 Years03.006%$5.48
  15-Year Fixed2.375%15 Years22.830%$6.61
2.500%15 Years12.810%$6.67
2.625%15 Years02.792%$6.73
10-Year Fixed2.375%10 Years02.615% $9.37

One more thing, don’t forget to include real estate taxes & insurances. After including it, the payment is going to be high. But there are other factors influence the payment amount like credit, loan to value, property type, etc.

Keep in mind, banks can change the rate and the terms as well if they want. If there is still any confusion about it, then call a mortgage professional.

Fixed-Rate Bi-Weekly Products (1-4 family owner occupied properties):

Product DescriptionRateMaximum TermDiscount PointsAnnual Percentage Rate (APR)Payments Per $1,000
25-Year Bi-Weekly2.875%25 Years23.181%$2.34
3.000%25 Years13.204%$2.37
3.125%25 Years03.228%$2.40
20-Year Bi-Weekly2.750%20 Years23.119%$2.71
2.875%20 Years13.121%$2.74
3.000%20 Years03.124%$2.77
15-Year Bi-Weekly 2.500%15 Years22.974%$3.33
2.625%15 Years12.941%$3.36
2.750%15 Years02.909%$3.39
10-Year Bi-Weekly2.500%10 Years02.731%$4.71

Adjustable Rates (1-4 family owner occupied properties):

Product DescriptionRateMaximum TermMarginAnnual Percentage Rate (APR)Payments Per $1,000Payments Per $1,000 (Fully Indexed)
5/1 Adjustable Rate Mortgage*3.000%30 Years2.750%3.009%$4.22$4.15
5/1 Adjustable Rate Mortgage*3.000%30 Years2.750%3.009%$4.22$4.15
7/1 Adjustable Rate Mortgage*3.250%30 Years2.875%3.208%$4.35 $4.24
10/1 Adjustable Rate Mortgage* 3.500%30 Years3.500% 3.644%$4.54$4.49

Fixed-Rate (1-4 family investment properties):

Product DescriptionRateMaximum TermAnnual Percentage RatePayments Per $1,000
30-Year Fixed4.000%30 Years4.102%$4.77
20-Year Fixed3.875%20 Years4.016%$5.99
15-Year Fixed3.750%15 Years3.929%$7.27

Fixed-Rate Land Loans:

Product DescriptionRateMaximum TermAnnual Percentage RatePayments Per $1,000
15-Year Fixed Rate5.250%15 Years5.436%$8.04
Choose your product at a special rate
Picture: Choose your product at a special rate

Read More: Firstmark Student Loans

Conclusion:

Greenfield Savings Bank is not only an older financial institute but also shows how to deal with clients by offering versatile banking services. In my opinion, their savings and loan section covered a broad area that makes this bank the best in this decade.

As we know, they come with different offers for mortgages. They also customize this product based on year, rate, and charges. That means anyone can choose which types of plans they need and which types of properties they have.

Indeed, the mortgage rate we’ve discussed is not fixed. But it won’t vary too much. This rate is much better than other financial institutions offer.

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