M&T Bank Carrot Score

Carrot Score

Higher than 2% of U.S. banks and credit unions

LowestMiddleHighest

By productProduct

CDsNot scored
Savings60
Auto loans62
Credit cards65

Each bar is every U.S. bank and credit union, lowest score to highest. Choose a product to see its rates.

Where M&T Bank ranks

By Carrot score, in each area where it has branches

And 83 more areas

Scores run from 60 to 99; 90 and up means rates near the best in the country. Top Carrot marks a score of 87 or more, the top quarter of U.S. banks and credit unions. It’s about rates only, not safety, service or who can join.

By product

How each product scores

How its rates compare with every U.S. bank and credit union. Open a product to see them.

CDs

Not scoredPublished rates need another account or activity, so they are not scored.

Savings

60beats 0% nationallyAdds 1.5 · 4 balances

Balance	Its rate	Beats	U.S. median	Top 25% atTop 25%	Top 10% at
$1,000	0.01%	2%	0.20%	0.50%	1.51%
$10,000	0.01%	1%	0.50%	1.15%	2.20%
$100,000	0.01%	0%	1.00%	2.01%	2.93%
Qualified	0.01%	1%	0.60%	1.31%	2.43%

Best rates 0.7 · all balances 0.9 → 0.8 → 60

Auto loans

62beats 7% nationallyOne of its best two · 2 vehicles

Vehicle	Its rate	Beats	U.S. median	Top 25% atTop 25%	Top 10% at
New vehicle	6.79%	6%	5.00%	4.74%	4.25%
Used vehicle	6.79%	9%	5.39%	4.99%	4.49%

Best rates 9.2 · all vehicles 7.6 → 8.5 → 62

Credit cards

65beats 13% nationallyOne of its best two · 1 rate

Card	Its rate	Beats	U.S. median	Top 25% atTop 25%	Top 10% at
Purchase APR	13.74%	13%	10.90%	9.90%	8.90%

Best rates 13.2 · all rates 13.2 → 13.2 → 65

Where the score could improve

Credit cards, Purchase APR9.90%13.74% today, lower than 13% of U.S. institutions. 9.90% would reach the top quarter; 8.90% the top 10%.
Auto loans, New vehicle4.74%6.79% today, lower than 6% of U.S. institutions. 4.74% would reach the top quarter; 4.25% the top 10%.
Auto loans, Used vehicle4.99%6.79% today, lower than 9% of U.S. institutions. 4.99% would reach the top quarter; 4.49% the top 10%.
To score in the 90s3.10%At least one product needs a rate near the best in the country, like 3.10% or more on a $10,000 savings (0.01% today), and strong rates on its other balances.

Scores update as rates change. Institutions can correct a rate we show; payment never changes a score.

Method

How the score works

Each product gets a standingWe compare its CD, savings, auto loan and credit card rates with every bank and credit union in the U.S. and give each product a standing out of 100. Its best rates count the most. For loans and cards, lower rates rank higher.
Its two best products set the scoreWe average its two strongest products. Each extra product it publishes adds 1.5 points, so sharing more rates can only help.
Its rank puts it on the 60–99 scaleWe rank that number against every scored bank and credit union in the country to get a score from 60 to 99. The top quarter earn Top Carrot.

How M&T Bank got its score

Its products stand at 13.2 for credit cards, 8.5 for auto loans and 0.8 for savings, out of 100. Its best two, credit cards and auto loans, average 10.9. Publishing three products adds 1.5, for 12.4. That puts it ahead of 2% of U.S. banks and credit unions: a Carrot Score of 60.

The fine print: inside each product, its best rates make up 60% of its standing and all its rates the rest. Its best rates are its two best CD terms, its $10,000 and Qualified savings or money market rates, the better of its new and used auto loan rates, and its credit card purchase rate. The Qualified rate is the best $10,000 rate you can get by opening another account or meeting monthly requirements (or the standard rate, if that’s higher). Rates that need monthly activity get half credit for the extra they pay, and rates that need a combined balance count only from that balance. We subtract monthly fees and count an intro rate at what it earns over a full year. Accounts for kids, students, seniors, businesses, IRAs and health savings aren’t scored.

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