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Uwharrie Bank Review

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Uwharrie Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1984, Uwharrie Bank has $574 million in assets and $515 million in deposits, classifying the institution as a medium-size bank. Uwharrie Bank, whose headquarters are in Albemarle, North Carolina, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.7 out of 5 stars, Uwharrie Bank should be near the middle of the pack in your search for a bank. Uwharrie Bank has an array product offerings, which include savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product maintains a monthly fee of $5.00, which ranks on the higher end of monthly fees. Using an institution with free checking, in addition to a high savings APY is the best option for accruing the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Uwharrie Bank has a savings rate of 0.05%, which is poor as compared against the national average. Its one-year CD has a rate of 0.14% and the five-year CD has a rate of 0.57%, while its highest-yielding money market account earns at a rate of 0.10%. Given Uwharrie Bank's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How Uwharrie Bank's Savings Rates Compare

Uwharrie Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Uwharrie Bank has generally high fees compared to the national average. Its checking account has a monthly fee of $5.00, making it fair for anyone looking for a simple account. Uwharrie Bank unfortunately does not refund out-of-network ATM fees, which means you'll have to find an Uwharrie Bank ATM or pay the ATM charge.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Uwharrie Bank is a brick-and-mortar bank, with 10 total branches in North Carolina. It also offers access to mobile and web apps for an easy mobile-banking experience. Uwharrie Bank receives positive ratings from users for its mobile banking services. With 380 ratings across both Apple and Android platforms, the Uwharrie Bank mobile app is scored at 4.7 out of 5 (compared to the national average of 3.8). You can use Uwharrie Bank's app to control your bank accounts by monitoring monthly statements, sending and receiving money and accessing support representatives. Uwharrie Bank receives an outstanding consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Uwharrie Bank is currently a medium-size bank with assets totaling $574 million and $515 million in deposits. Uwharrie Bank's Texas Ratio is 6.12%, denoting that Uwharrie Bank is in fine financial well-being and unlikely to fail. Additionally, Uwharrie Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

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 Uwharrie Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.14% APY
  • 24 Month: 0.25% APY
  • 36 Month: 0.42% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.57% APY
$10000 for all terms
Money Market Account 0.1% APY $20000

Uwharrie Bank has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Uwharrie Bank does not have the best savings rate, which means you should consider looking 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. Uwharrie Bank's CD rates are fair compared to other U.S. banks.

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Find a Uwharrie Bank Near Me

Uwharrie Bank has 10 branches in the U.S.

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