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United Bank Review

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United Bank Savings
0.06% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1858, United Bank has assets totaling $7 billion and deposits totaling $5 billion, ranking the institution as a large bank. United Bank, whose headquarters are in Vernon Rockville, Connecticut, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, United Bank is a good bank that gets the job done, with a rating of 4.1 out of 5 stars from our team. United Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. United Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly maintenance fee. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best option for getting the most income from your deposits while having easy 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

United Bank features a savings rate of 0.06%, which is poor as compared against the national average. United Bank's CDs feature a rate of 0.55% and 1.31% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.15%. Given United Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How United Bank's Savings Rates Compare

United Bank Savings 0.06 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

United Bank charges customers extremely low fees compared to the national average. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who will need cash in a pinch, it is ideal because it charges no out-of-network ATM fees. United Bank doesn't reimburse out-of-network ATM fees, which means you'll need to find a United Bank ATM or pay the withdrawal fee.

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

SmartAsset Average: 3.7

United Bank is a brick-and-mortar bank, with 55 total bank locations in Connecticut and Massachusetts. With mobile and web apps, United Bank makes mobile banking easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 7:00 p.m. ET; Saturday, and 8:00 a.m. to 4:00 p.m. ET. United Bank gets poor feedback from users for its mobile app. Out of 380 ratings across both Apple and Android platforms, the United Bank mobile app is scored at 3.3 out of 5 (compared to the national average of 3.8). You can use United Bank's mobile app to manage your finances by looking at monthly statements, sending and receiving funds and reaching support representatives. United Bank gets an outstanding consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

United Bank is currently a large bank with $7 billion in assets and $5 billion in deposits. United Bank's Texas Ratio is 4.72%, denoting that the bank is in superb financial shape and unlikely to fail. Additionally, United 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 United Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.06% APY $1000
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.01% APY
  • 48 Month: 1.11% APY
  • 60 Month: 1.31% APY
$500 for all terms
Money Market Account 0.1% APY $10000

United Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. United 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. United Bank's CD rates are fair as compared against the national average.

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Find a United Bank Near Me

United Bank has 55 physical locations in the U.S.

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