At People’s United Bank, all of their savings accounts require no monthly fees! To find out if People’s United Bank is right for you, continue reading the review below.
Founded in 1842, People’s United Bank is an old but well established bank in the Northeast. It has grown to over 5,000 employees that continually service customers to the best of their ability.
Although their savings accounts may not earn high interest, they don’t have any monthly fees. This is a rare case for most banks, but People’s United wants to give more power to their customers by not having to worry about paying an impending fee.
They do, however, offer various checking accounts that collect interest and have a range of CD terms to choose from.
Checking Account Options
People’s United offers several checking accounts that accumulate interest, but it depends on your location.
Each account comes with a free People’s United Debit Card and access to more than 600 ATMS across the Northeast.
With a minimum opening deposit of $25, you can open this checking account with no monthly fees.
This account can be accessed online or in branch.
This checking account also requires a $25 minimum opening deposit and the same benefits as Plus Checking.
There is also a $25 monthly fee, but if you maintain $7,500 in all your accounts, then you can waive it.
You also get a Platinum Debit Card and personal checks and this account also earns interest.
With a $25 minimum opening deposit, this premier checking account earns an APY of 0.25% (interest).
There is a $30 monthly fee, but you can waive it by maintaining a balance of $7,500 throughout all your accounts.
You will also gain access to:
- People’s United innovative ID theft protection system
- Up to $55 credit on a Safe Deposit Box
Compare Checking Accounts
 • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities • Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere. • Chase Overdraft AssistSM – no overdraft fees if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* • Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock. • Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law. • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs. • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
Savings Account Options
People’s United has a lot of similar savings accounts that vary depending on your location. They don’t offer the highest interest rates, but they make up for it by not demanding any service fees.
You can open this savings account if you have the Plus Checking account.
With an opening deposit of $50, you can earn an interest rate at 0.20% on all your other accounts.
There is no monthly service fee required.
You can open this savings account if you have the Advantage Plus Checking account.
With an opening deposit of $50, you can earn an interest rate at 0.20% on all your other accounts.
There is no monthly service fee required.
You can open this savings account if you have the Premier Advantage Checking account.
With an opening deposit of $50, you can earn an interest rate at 0.20% on all your other accounts.
There is no monthly service fee required.
Compare Savings Accounts
 Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code LOP325 by 9/11/2025 • Earn high interest rate of 3.70% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code LOP325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. |
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard. People’s United Bank has two money market that earns decent APY.
Just like the savings accounts, People’s United offers money market accounts that can be linked to their checking accounts.
You will need an opening deposit of $2,500 to open this money market.
At first, the interest rates will start out pretty low but overtime will build since this account earns tiered interest rates.
If you have a balance of over $100,000, you can earn an interest rate at 0.20%.
This account is similar to the Plus Money Market Account, but with a much higher max APY.
You still need a $2,500 opening deposit, but you can get up to a 1.30% APY for balances of $25,000 and up.
Compare Money Market Accounts
 • Get started and open a Discover® Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 3.65%% APY balances $100,000 and over • Earn 3.60% APY balances under $100,000 • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
CD Account Options
People’s United Bank has a large variety of CDs, spanning from 91 days to 5 years.
For an opening deposit as low as $25, you can open a CD that earns decent interest rates compared to other banks that require much more!
Be sure to go through all the different ones before choosing to invest in a CD.
You can open any of the CDs at your local branch or online.
Although their interest rates aren’t as high as some of the other banks, you can qualify for higher rates if you open a checking account with them.
There is a $30 monthly fee, but you can waive it by maintaining a balance of $7,500 throughout all your accounts.
Compare CD Accounts
• Available nationwide online, Discover® offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.00% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Get started and open a Discover CD in 3 easy steps. |
Reasons to Bank with People’s United Bank
- They have low minimum opening requirements when it comes to opening any kind of account.
- All of People’s United savings accounts require no monthly fees to worry about. Customers can open savings with ease while earning a fixed interest rate.
- When you pair a People’s United Checking account with a Savings one, you can earn higher combined interest.
- All their CDs only cost $25 to open, and some CDs can earn a higher rate compared to most banks.
- You will receive a Debit Card if you open any of their checking accounts.
- Each checking account gives you access to more than 600 ATMs.
- You can conduct online banking on People’s United site and mobile app.
Reasons Not to Bank with People’s United Bank
- They are only have locations throughout six states: New York, Connecticut, Maine, New Hampshire, Utah and Vermont.
- If you don’t live near the Northeast area, it might not benefit you do bank with them.
- Other banks offer higher interest rates concerning their savings and CD accounts.
- They don’t have a large variety of checking or savings accounts. All their accounts have pretty similar benefits.
- Their interest rates aren’t that high, so if you are concerned about that, then consider looking into another bank that focuses on earning higher interest rates.
People’s United Bank Routing Number
People’s United Bank’s routing number is 221172186. You can also find your routing number on the lower left corner of your People’s United Bank check.
Contact Customer Service
Reach People’s United Bank Customer Service at 1 (800) 894-0300. Their hours vary from branch to branch, but you should be able to reach a representative at most hours.
Contact Technical service at 1 (800) 525-9248
To find a branch closes to you, make sure you use their Locator so you can find out when you can get in touch with them.
How People’s United Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Bank of America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
- Huntington Bank: Huntington Bank has various account options and offers checking bonuses, overdraft protection, free mobile banking, online bill pay, access to over 800 branches and 1,800 ATMs, and much more.
- TD Bank: TD Bank offers bonuses for signing up for a checking account. They have various account options that suit all kinds of consumers as well.
- Webster Bank: Webster Bank has a second chance Opportunity Checking account and comes with exclusive benefits. They offer higher interest rates and more flexibility.
- Banco Popular: They offer basic checking and savings accounts in the Northeast. They had options for students in high school and college.
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Bottom Line
If you live in the Northeast and are more of a saver than a spender and don’t want to deal with the hassle of paying monthly fees for your savings, then consider banking with People’s United Bank.
With all their savings accounts requiring no monthly fee service, you can happily build interest, and when you pair any of them with the corresponding checking account, the interest you earn will significantly increase.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
if you’re interested in banking with People’s United Bank, see what they have to offer through People’s United Bank Promotions! And while you’re here on HMB, check our full list of Best Bank Promotions for more options!
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