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The Camden National Bank Review

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The Camden National Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Camden National Bank started in 1875 with its headquarters in Camden, Maine. It owns $4 billion in assets and deposits totaling $3 billion, classifying it as a large bank. The Camden National Bank has excellent customer service access, with live chat and all-day support available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a commendable 4.2 out of 5 stars, The Camden National Bank is a solid contender in your bank search. The Camden National Bank provides customers with a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, The Camden National Bank's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is the best option for getting the most income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

The Camden National Bank has a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its CDs feature a rate of 0.40% and 1.51% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given The Camden National Bank's poor savings rate, you should think about other options to earn more on your deposits.

How The Camden National Bank's Savings Rates Compare

The Camden National Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

The Camden National Bank has typically low fees compared to other U.S. banks. With no monthly fee, The Camden National Bank's checking account is perfect for those who need an easy checking account. Also, The Camden National Bank has an overdraft fee of $35.00, which is on par with the average U.S. overdraft fee. The Camden National Bank unfortunately doesn't refund out-of-network ATM fees, meaning you will need to locate a The Camden National Bank ATM or eat the ATM charge.

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

4.5
SmartAsset Average: 3.7

The Camden National Bank is a brick-and-mortar bank, with 63 total bank locations in Maine and New Hampshire. It also offers access to mobile and web apps for simple access and banking on the go. It has access to all-day customer service. Additionally, The Camden National Bank offers a live chat feature, something to consider if you work during the customer service hours. The Camden National Bank gets relatively high praise from customers for its online presence. The The Camden National Bank mobile app has an overall rating of 4.1 out of 5 (with 1,100 ratings on Apple and Android) compared to the national average of 3.8. You can utilize The Camden National Bank's app to control your funds by looking at current statements, transferring funds as well as accessing support representatives. The Camden National Bank receives a superb consumer satisfaction score due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.9
SmartAsset Average: 4.8

The Camden National Bank is currently a large bank with assets totaling $4 billion and $3 billion in deposits. The Camden National Bank's Texas Ratio is 3.18%, indicating that The Camden National Bank is in superb financial health and far from failure. Additionally, The Camden National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.18%
High Risk 75% 50% 20% 10% Low Risk

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 The Camden National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $25
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.80% APY
  • 48 Month: 0.95% APY
  • 60 Month: 1.51% APY
$500 for all terms
Money Market Account 0.05% APY $5000

The Camden National Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Camden National Bank does not have the best savings rate, which means you should consider looking 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. The Camden National Bank's CD rates are fair compared to other U.S. banks.

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Find a The Camden National Bank Near Me

The Camden National Bank has 63 locations across the U.S.

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