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Winter Hill Bank Review

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Winter Hill Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Winter Hill Bank started in 1906 and its headquarters are located in Somerville, Massachusetts. It owns assets of $357 million and $274 million in deposits, making it a small bank. Winter Hill Bank lacks premium access to support representatives, with no live chat or all-day service options available. 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. SmartAsset experts rated Winter Hill Bank 4.1 out of 5 stars, which means it is a good bank that deserves your consideration. Winter Hill Bank has the full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Winter Hill Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not carry a monthly maintenance fee. Banks that offer no-fee checking, in addition to a high savings APY are the best bet for gaining the highest income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

With a savings rate of 0.10%, Winter Hill Bank ranks poorly compared to the national average. Its CD rates are 2.60% and 2.10% 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 below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Winter Hill Bank's Savings Rates Compare

Winter Hill Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

4.3
SmartAsset Average: 4.4

Winter Hill Bank generally has low fees in comparison to the average U.S. bank. With no monthly fee, Winter Hill Bank is perfect for people who want a basic checking account. For those who withdraw money frequently, it is fair because it has an out-of-network ATM fee of $1.50, which is reasonable compared to the average U.S. bank. Winter Hill Bank unfortunately doesn't refund out-of-network ATM charges, which means you will have to locate a Winter Hill Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.50 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

Winter Hill Bank is a brick-and-mortar bank, with three total branches in Massachusetts. With mobile and web apps, Winter Hill Bank makes mobile banking straightforward, even on the go. Winter Hill Bank receives reasonably positive scores from users for its mobile app. The Winter Hill Bank mobile app rates a 4.0 out of 5 (with 2 customer reviews on Apple and Android) compared to the national average of 3.8. Winter Hill Bank's mobile app allows you to control your funds by reviewing account balances, sending and receiving funds and accessing customer service. Winter Hill Bank receives an exceptional consumer satisfaction score based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government 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

5.0
SmartAsset Average: 4.8

Winter Hill Bank is currently a small bank owning $357 million in assets and $274 million in deposits. It has an excellent Texas Ratio of 0.00%, signifying that the bank is in terrific financial health and far from failure. Additionally, Winter Hill 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 Winter Hill Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $10
Checking Account 0.1% APY $10
Certificates of Deposit
  • 12 Month: 2.60% APY
  • 24 Month: 1.80% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.75% APY
  • 60 Month: 2.10% APY
$500 for all terms
Money Market Accounts 0.25% APY 0.5% APY $10000 $15000

Winter Hill 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. Winter Hill Bank does not have the best savings rate, which means you should think about taking a look 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. Winter Hill Bank's CD rates are fair compared to the average U.S. bank.

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Find a Winter Hill Bank Near Me

Winter Hill Bank has three branches in the U.S.

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