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Winchester Savings Bank Review

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Winchester Savings Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Winchester Savings Bank was founded in 1871 with its headquarters in Winchester, Massachusetts. Winchester Savings Bank has $529 million in assets and $453 million in deposits, classifying it as a medium-size bank. Winchester Savings Bank 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. We gave Winchester Savings Bank a 4.2 out of 5 stars, suggesting it is a solid contender in your bank search. Winchester Savings Bank has a complete array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Winchester Savings Bank offers an option without a maintenance or monthly fee. Banks that offer no-fee checking and a high savings APY are your best option for returning the highest income on your deposits alongside 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

Winchester Savings Bank features a savings rate of 0.15%, which is fair in comparison to the average U.S. bank. Winchester Savings Bank's CD rates are 0.45% and 2.65% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.50%. Given its noncompetitive savings rate, you should consider other options to earn more on your deposits.

How Winchester Savings Bank's Savings Rates Compare

Winchester Savings Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Winchester Savings Bank typically has extremely low fees in comparison to the national average. Winchester Savings Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Winchester Savings Bank reimburses their out-of-network ATM fees (with conditions), making finding an ATM a free and easy process.

Monthly Fee $0 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

Winchester Savings Bank is a brick-and-mortar bank, with four total branches in Massachusetts. With mobile and web apps, Winchester Savings Bank makes account access easy, even on the go. Winchester Savings Bank's online and mobile banking services receive fair feedback from customers. With 7 ratings on both iOS and Android platforms, the Winchester Savings Bank mobile app has an overall rating of 3.9 out of 5 (compared to the national average of 3.8). Winchester Savings Bank's mobile app allows you to control your bank accounts by reviewing current statements, transferring funds and accessing support representatives. Winchester Savings Bank gets a superb consumer satisfaction rating 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 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Winchester Savings Bank is a medium-size bank and manages $529 million in assets as well as deposits totaling $453 million. Winchester Savings Bank has an excellent Texas Ratio of 2.46%, denoting that Winchester Savings Bank is in excellent financial condition and far from failure. Additionally, Winchester Savings Bank 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 Winchester Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.01% APY $10
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 2.35% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.55% APY
  • 60 Month: 2.65% APY
$10 for all terms
Money Market Account 0.5% APY $10

Winchester Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Winchester Savings 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. Winchester Savings Bank's CD rates are fair in comparison to the national average.

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Find a Winchester Savings Bank Near Me

Winchester Savings Bank has four locations in the U.S.

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