GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
GOBankingRates Best Banks 2023 scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks.
Quick Take: Bangor Savings Bank, headquartered in Bangor, Maine, has been serving Mainers and New Hampshirites for over 160 years. The full-service, community-focused bank affords its members standard banking products and financial services such as personal checking accounts, online and mobile banking, wealth management resources and business banking.
How did we calculate this?Bangor Savings Bank has 65 branches between Maine and New Hampshire, and access to 55,000 ATM machines around the world through the Allpoint ATM network. Bangor Savings claims it was the first Maine bank to offer free ATMs worldwide, wherein you simply accept any charges incurred from using the machine and the bank reimburses you within three business days. Customers with Bangor Savings can also take advantage of free online banking.
Bangor Savings Bank earned a GOBankingRates score of 4.7 out of 5 for its strong local service and varied account options. Here’s more:
Bangor Savings Bank doesn’t provide the most competitive interest rates on your checking and savings accounts. At most, you’ll earn APY on your savings account.
As for CDs, terms of 3 to 60 months are available. Rates vary on the length of your commitment and go up to APY. CDs require a minimum of $500 to open an account.
Banking with Bangor Savings Bank is extremely convenient. You’ll have access to a variety of banking products from savings and loans in one place. Best of all, customers can qualify for relationship banking rates on loans and bank accounts. For example, Benefit Plus customers receive a 0.05% bump on CD rates and up to one point off on select loans and lines of credit.
Bangor Savings Bank offers nearly every type of banking product you may need. The most popular include:
Get the latest news on investing, money, and more with our free newsletter.
By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.
You're now subscribed to our newsletter. Check your inbox for more details.
There are three main checking account options, all which require a minimum $25 deposit to open:
Bangor Savings has several savings account options, but their three main ones are the Statement savings, Money Market and Benefit savings accounts. You can also save for Christmas with a Holiday Club account.
Bangor Savings certificates of deposit range from 3 months to 5 years. The account comes with a 0.05% rate bump if you are a Benefit Plus Customer. To open a CD, a minimum balance of $500 is required.
Bangor Savings Bank customer service is available by calling 1-888-263-3099 Monday to Friday from 7:00 a.m. to 7:00 p.m., Saturdays 8:00 a.m. to 2:00 p.m. and Sundays 9:00 a.m. to 2:00 p.m. You can also reach out for support by emailing bangorsupport@bangor.com.
Bangor Savings Bank stands out for its full-service offerings that make it convenient to choose the financial institution. Personal and business banking is available. Besides online banking and a variety of accounts, mortgages, vehicle loans and credit cards are available. Plus, auto, home, property, life and disability insurance can be purchased through the bank.
To compare banks before you choose, consider the following alternatives.
Kennebec Savings Bank is another local financial institution in the state of Maine. However, the bank does not have as many locations as Bangor Savings does. Both are full-service banks offering accounts, loans, investments and more. However, Kennebec Savings Bank’s rates are more competitive.
Bar Harbor Bank & Trust is Maine’s third-largest bank in the state with 49 branches throughout Maine, Vermont and New Hampshire. Like Bangor Savings Bank, Bar Harbor Bank & Trust offers customers a variety of financial services including accounts, loans, investments and more. Bar Harbor Bank & Trust stands out for its digital presence. Its mobile banking app and online services are top notch compared to other local banks.
Not all bank accounts can be opened online. Some accounts such as CDs require a visit to a local branch with your government-issued photo ID or by calling 1-877-226-4671.
Checking, savings and money market accounts can be opened online at your convenience. You’ll need to set up an online login and provide your Social Security number, photo ID and the funds to get started.
Locals through Maine and some of New Hampshire will benefit most from Bangor Savings Bank, if nothing else because their charity work directly impacts the communities they operate in, and they have access to branch locations. The bank offers a full spectrum of financial services from accounts to loans to insurance for anyone looking for a one-stop-shop for their personal and business banking needs.
Bangor Savings Bank is a good option for individuals in search of a quality regional bank. Although the savings accounts have low APY rates and higher balance requirements, there are plenty of positives that offset the drawbacks such as money market accounts, a couple of checking account options and CDs with competitive rates.
Sean Dennison contributed to the reporting for this article.
This content is not provided by Bangor Savings Bank. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Bangor Savings Bank.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of June 19, 2022.
