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The Camden National Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 first started operating in 1875 with headquarters located in Camden, Maine. It owns $4 billion in assets as well as $3 billion in deposits, classifying it as a large bank. The Camden National Bank has superior access to customer service, with live chat and all-day support available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.2 out of 5 stars, The Camden National Bank is a solid pick to be your bank. The Camden National Bank offers a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. The Camden National Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, The Camden National Bank offers an option without 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 institution is your best option for getting the most income from your deposits alongside 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 fair in comparison to the national average. Its one-year CD earns at a rate of 0.40% and the five-year CD earns at a rate of 1.51%, while its highest-yielding money market account earns at a rate of 0.20%. Given The Camden National Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

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 typically has low fees in comparison to the average U.S. bank. With no monthly fee, The Camden National Bank is ideal for those who want a basic checking account. Additionally, at $35.00, its overdraft fee is lower than the national average. The Camden National Bank doesn't refund out-of-network ATM fees, meaning you'll need to search for a The Camden National Bank ATM or pay 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. With mobile and web apps, The Camden National Bank makes account access straightforward, even on the go. It offers all-day access to representatives. Additionally, The Camden National Bank customers can access live chat for help, an alternative customer service tool if you can't call in during business hours. The Camden National Bank receives moderately high marks from customers for its mobile platform. Out of 1,100 customer reviews on iOS and Android platforms, the The Camden National Bank mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). The Camden National Bank's mobile app allows you to control your bank accounts by looking at account balances, sending and receiving money as well as reaching customer service. The Camden National Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed 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 $4 billion in assets as well as $3 billion in deposits. The Camden National Bank's Texas Ratio is 3.18%, signifying that The Camden National Bank is in outstanding 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 Accounts 0.05% APY 0.2% APY $10000 $15000

The Camden National Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Camden National Bank does not have the best savings rate, which means you should consider other options 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 branches in the U.S.

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