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UniBank for Savings Review

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


Started in 1870, UniBank for Savings has assets totaling $2 billion along with $1 billion in deposits, making it a large bank. UniBank for Savings, whose headquarters are in Whitinsville, Massachusetts, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.3 out of 5 stars, UniBank for Savings proves it is a solid contender in your bank search. UniBank for Savings provides customers with a diverse array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. UniBank for Savings has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, UniBank for Savings's standard checking account does not have a monthly fee. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same bank is your best bet for accruing the most income from your deposits while having easy access to your funds.

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

With a savings rate of 0.05%, UniBank for Savings ranks poorly compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.90% and 1.75%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How UniBank for Savings's Savings Rates Compare

UniBank for Savings Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, UniBank for Savings charges its customers extremely low fees compared to the average U.S. bank. UniBank for Savings's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Additionally, UniBank for Savings has an overdraft fee of $33.00, which is lower than the average U.S. overdraft fee. UniBank for Savings unfortunately doesn't refund out-of-network ATM fees, which means you'll have to search for a UniBank for Savings ATM or accept the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

UniBank for Savings is a brick-and-mortar bank, with 14 total branches in Massachusetts. With mobile and web apps, UniBank for Savings makes account access easy, even on the go. It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:30 a.m. to 1:00 p.m. ET. UniBank for Savings's online and mobile banking platforms receive moderately high scores from users. The UniBank for Savings mobile app rates a 4.0 out of 5 (with 78 customer reviews on Apple and Android) compared to the national average of 3.8. You can access UniBank for Savings's app to manage your bank accounts by looking at monthly statements, sending and receiving money and accessing support representatives. UniBank for Savings receives an outstanding consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

UniBank for Savings is a large bank owning $2 billion in assets as well as $1 billion in deposits. It has an excellent Texas Ratio of 2.24%, indicating a minute likelihood of failure. Additionally, UniBank for Savings 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 UniBank for Savings to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.05% APY $10
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 2.25% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.75% APY
$500 for all terms
Money Market Account 0.15% APY $2500

UniBank for Savings has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. UniBank for Savings does not have the best savings rate, which means you should consider other options 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. UniBank for Savings's CD rates are fair in comparison to the average U.S. bank.

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Find a UniBank for Savings Near Me

UniBank for Savings has 14 branches in the U.S.

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