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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 first started operating in 1875 and has its headquarters in Camden, Maine. It manages $4 billion in assets along with deposits totaling $3 billion, classifying it as a large bank. The Camden National Bank has superb customer service access, with live chat and all-day support available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, The Camden National Bank is a solid contender in your bank search, with a rating of 4.2 out of 5 stars from our experts. The Camden National Bank has a varied choice of banking products, which include 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 interested in stress-free personal checking, The Camden National Bank's ordinary checking account does not have a monthly fee. Locating a bank with free checking as well as a high interest rate savings account is your best bet for accruing the highest income from your deposits while maintaining convenient access to your money.

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 features a savings rate of 0.05%, which is poor as compared against the national average. Its one-year CD earns at a rate of 0.30% 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 its below average savings rate, you should consider 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 as compared against the national average. Its checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Also, at $35.00, its overdraft fee is lower than the national average overdraft fee. The Camden National Bank unfortunately does not refund out-of-network ATM charges, which means you'll have to find a The Camden National Bank ATM or pay the cost of withdrawal.

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 a straightforward mobile-banking experience. It provides all-day access to representatives. The Camden National Bank also offers a live chat feature, an alternative customer service tool if you can't call in during business hours. The Camden National Bank gets reasonably satisfactory scores from users for its mobile app. The The Camden National Bank mobile app has been given a 4.1 out of 5 (with 1,100 customer reviews on Apple and Android) compared to the national average of 3.8. The Camden National Bank's mobile app allows you to control your bank accounts by checking account balances, transferring money as well as reaching customer service. The Camden National Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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 ranks as a large bank with $4 billion in assets and deposits totaling $3 billion. Its Texas Ratio is 3.18%, signifying a minute possibility of 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: 0.30% APY
  • 24 Month: 0.55% APY
  • 36 Month: 0.75% APY
  • 48 Month: 0.80% APY
  • 60 Month: 1.51% APY
$500 for all terms
Money Market Account 0.05% APY $5000

The Camden National Bank has 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 branches across the U.S.

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