Featured Savings Rates
Featured Accounts
Overview / Commentary
203-578-2230
Webster Plaza
Waterbury, CT 06702

Webster Bank was founded in 1870 as Bristol Savings Bank in Bristol, Connecticut. Now based in Waterbury, Connecticut, Webster Bank offers a complete range of financial services to customers throughout the northeastern United States. Its banking centers are located from Boston to greater New York City.

Webster Bank’s personal deposit accounts include checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). In addition to interest bearing checking accounts that offer perks related to loan rates, CD rates, and access to special savings accounts, the bank provides checking accounts for students and for those with poor banking history. Webster Bank also offers savings accounts for special purposes (like holiday spending) and tax-advantaged Health Savings Accounts (HSAs), which can be used to pay for qualified medical expenses. Its money market accounts do not require a separate checking account to open, and they yield better interest rates with larger account balances.

As for CDs, Webster Bank offers traditional CDs with terms ranging from 1 year to 5 years. It also provides short term CDs with penalty-free monthly withdrawals, as well as bump-up CDs, which offer the opportunity to increase the CD rate once during the term. Webster Bank also provides both Traditional and Roth IRA products, and some of its CD options are available as IRAs.

Webster Bank also offers business checking accounts, business savings accounts, business money market accounts, and business CDs. Its business checking accounts offer a variety of perks, some of which are related to being able to open other business accounts for free. Furthermore, the bank offers specific checking accounts for law firms (IOLTA and IOLA) and real estate brokers (IOREBTA). In addition to its business savings accounts, Webster Bank also provides Health Savings Account (HSA) options for employers, in collaboration with the corporation’s insurance company. Webster Bank’s business money market accounts yield tiered interest rates, depending upon the account balance, and they require a business checking account to open. Finally, the bank’s business CD options range in terms from 1 month to 60 months, although it also offers flexible, short-term “Jumbo” business CDs for large deposits.

Related Posts

Up To $350 Checking Account Bonus For NY, MA, RI, And CT - 10/14/2016

Learned about this promotion while at a Webster Bank branch Link to promotion page $350 bonus requires Premier Checking ($10,000 balance to avoid monthly fee) $100 bonus requires Webster Value Checking ($1,000 balance can avoid monthly fee) Bonus requirements from the small print: Customer must complete: 1 Direct Deposit (Direct Deposit transactions are limited to payroll, social security, pension, and government benefits. PayPal® transactions are excluded); OR 10 Visa Debit Card transactions using Signature or PIN (ATM withdrawals are not eligible); OR 5 Bill Payments through Websteronline.com to a third party. new checking account must be opened by 11/18/2016 

View all posts from:


Friendly and generous service from webster bank

Posted by: Farbey | Jan 11, 2015

I have been a Webster client for...about 15 years now and although I hear about many horror stories from my family and friends about their experiences with their own personal banks, I have nothing but good things to say about Webster bank. I cannot even count how many times I have overdrafted my account and had the fee's returned to me the next day. The service is speedy and courteous. Any time I had a major concern would needed to go in to speak with their representatives, I am always met with extremely professional care. Although I know they are businessmen at heart, they do a great job of making it seem that your satisfaction is their primary concern. In conclusion I would recommend them over just about any other bank I see no reason not to stay with them forever.

Great CT Bank to do business with . . .

Posted by: RandyR | Dec 29, 2016

I have been with Webster Bank for almost 20 years. I really like the network of convenient ATMs throughout Connecticut and now much of the northeast, including Boston and New York areas. I rarely use ATMs outside of Connecticut but have noticed Webster branches and ATMs in new places and it is nice to know that I can use them in the future. I think my favorite part of Webster Bank is Webster Online banking. The interface is easy to use from my mobile phone and/or computer and the system has a very high level of checks for making sure it it me logging on and using the systems to do business. I also occasionally use local branches and have found folks to be pleasant, competent, and helpful. Great overall bank checking, savings, CD's, and other products too!

Stellar All Around

Posted by: User0 | Apr 8, 2012

Meriden branch has consistently gone above and beyond in terms of service and accomodations on checking, savings, ancillary issues. Presently moving our accounts from troubled, non-responsive BofA to Webster.

Dishonest Policies

I got a Webster checking account with my loan in a plan to swap over from Bank of America. After digging into details and limitations of their online banking, my wife and I decided against it, but kept the checking account open with a specific balance to keep our loan rate down.

After paying off our loan, we reduced the account to 0 and tried (and failed) to close the it, not being able to get to a bank together.

We finally have time to close it, and find almost $100 in fees. Apparently, they charged us *one* service fee for not having a minimum balance, then started piling daily $5 "Overdraft Fee" hits.

When we called to contest it, we were told not-too-politely that this is the fine-print of the policy, and that our account would be put into collections if we did not pay it off. So from a zero-debt checking account, they're now attempting to extort $100 in junk daily fees. Having worked for a collection company before, I know that banks have an agreement over DDA overdraft collections, that no bank will let you open a checking account if you have any other checking account in DDA collections, even if contested.

No escalation routes, no nothing. Pay us money we have no right to demand, or we will ruin your credit and prevent you from opening bank accounts with other banks.

I will have a BBB complaint pending as of this weekend. This is a warning to everyone. DO NOT BANK WITH WEBSTER. They're buried in the kind of malicious fine print that won't stand up in court because they know they don't have to go to court.

Please, anyone who reads this, stay away from this terrible bank. They're not the great bank they were 10 years ago.

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
FDIC Certificate #18221
Year Established1870
Employees3164
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.89%
Return on Equity - YTD9.43%
Annual Interest Income$825.1MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$26.05B$24.67B
LoansQ4 2016vs Q4 2015$16.90B$15.53B
DepositsQ4 2016vs Q4 2015$19.46B$18.24B
Equity CapitalQ4 2016vs Q4 2015$2.42B$2.34B
Loan Loss AllowanceQ4 2016vs Q4 2015$194.3MM$175.0MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$126.9MM$132.9MM
Real Estate OwnedQ4 2016vs Q4 2015$3.9MM$5.0MM
Rates
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Webster Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Webster Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Premier Savings
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.20% $25k - $50k | 0.25% $50k - $100k
0.20%*$100k*-WebsterOne Savings
OTHER TIERS: 0.05% Up to $25k | 0.15% $25k - $100k
0.02%--Webster Value Savings
0.02%--Holiday Club Savings
0.02%$300-Webster Business Value Savings

Webster Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*-Premier Business Money Market
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k
0.20%*$100k*-Premium Money Market
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $100k
0.15%*$25k*-Business Money Market
OTHER TIERS: 0.05% Up to $25k

Webster Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%*$50k*-Premier Checking
OTHER TIERS: 0.01% Up to $50k
0.01%--WebsterOne Checking

Webster Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.65%$1k-5 Year CD
1.45%$1k-4 Year CD
1.25%$1k-3 Year CD
1.00%$1k-2 Year CD
1.00%$1k-3 Year Bump Up CD
0.75%$1k-18 Month CD
0.50%$1k-1 Year CD
0.05%$1k-6 Month Liquidity CD
Locations

Webster Bank has 176 locations. Click to view all Webster Bank locations.