Univest Bank And Trust Co.

Univest Bank and Trust Co. is a financial institution that has been serving Pennsylvania for more than 148 years. This bank, which is headquartered in Souderton, PA, is a community-focused, locally managed bank that offers a wide variety of financial products and services to its customers. Here is our review of Univest Bank and Trust Co.

Checking Accounts

Univest Bank and Trust Co. offers several types of checking accounts, including free checking, interest checking, student checking, and lifestyle checking. The free checking account has no monthly maintenance fee, and it comes with a Visa debit card, online and mobile banking, and bill pay. The interest checking account pays interest on your balance, and it comes with all of the features of the free checking account.

The student checking account is designed for students who are 16 years or older and enrolled in high school, college, or vocational school. This account has no monthly maintenance fee, and it comes with unlimited check writing, mobile banking, and bill pay. The lifestyle checking account is a premium checking account that offers higher interest rates and additional benefits, such as discounts on loans and enhanced rewards programs.

Savings Accounts

Univest Bank and Trust Co. also offers several types of savings accounts, including statement savings, passbook savings, money market savings, and health savings accounts. The statement savings account is a basic savings account that has no monthly maintenance fee if you maintain a $100 minimum balance. The passbook savings account is a traditional savings account that comes with a passbook to keep track of your deposits and withdrawals.

The money market savings account is an interest-bearing account that offers higher interest rates than the basic savings accounts. This account has a minimum balance requirement of $2,500 to avoid a monthly maintenance fee. The health savings account is designed for individuals who have high-deductible health plans. This account allows you to save money tax-free for medical expenses.

Mortgage Loans

Univest Bank and Trust Co. offers several types of mortgage loans, including fixed-rate mortgages, adjustable-rate mortgages, jumbo mortgages, and FHA mortgages. Fixed-rate mortgages have a fixed interest rate and monthly payment for the life of the loan. Adjustable-rate mortgages have an interest rate that adjusts periodically based on market conditions.

Jumbo mortgages are for loan amounts above the conforming loan limit, which is $548,250 for most areas. FHA mortgages are insured by the Federal Housing Administration and require a lower down payment than conventional mortgages. Univest Bank and Trust Co. also offers refinance loans and home equity loans and lines of credit.

CDs and IRAs

Univest Bank and Trust Co. offers several types of CDs and IRAs. CDs are certificates of deposit that offer fixed interest rates for a specified term. Univest Bank and Trust Co. offers CDs with terms ranging from 3 months to 5 years. IRAs are individual retirement accounts that allow you to save for retirement.

Univest Bank and Trust Co. offers traditional and Roth IRAs, as well as educational IRAs. Traditional IRAs allow you to make tax-deductible contributions, while Roth IRAs allow you to make after-tax contributions and withdraw your money tax-free in retirement. Educational IRAs, also known as Coverdell Education Savings Accounts, allow you to save money tax-free for educational expenses.

Conclusion

Univest Bank and Trust Co. is a solid financial institution that offers a wide variety of financial products and services to its customers. Whether you need a checking account, savings account, mortgage loan, or CD or IRA, Univest Bank and Trust Co. has you covered. With more than 148 years of experience serving Pennsylvania, you can trust Univest Bank and Trust Co. to provide you with excellent customer service and competitive rates. Contact Univest Bank and Trust Co. today to learn more about their offerings.