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Summary

Bangor Savings Bank offers CD terms ranging from 3 to 36 months. These terms have a minimum initial deposit of $500. Annual percentage yield ranges from 0.1% to 0.3%.

Bangor Bank CD Rates

Bangor bank offers its best CD terms on longer engagements. Customers choosing to commit to 60-month terms can receive as high as 0.30% annual percentage yield.

This is to be compared with shorter terms, where customers can earn as low as 0.1% annual percentage yield (for example, on a 3-month term).

The second-lowest term (6 months) has an annual percentage yield of 0.15%. After this, terms increase in months by increments of 6. For example, the next available term lasts 12 months, and the next 18, and so on.

For every increase in 6 months, customers benefit from a +0.05% increase in annual percentage yields. The increase caps off at the 24-month terms, where customers earn 0.3%.

The bank also offers premium plans- their Benefit Plus plans. These CDs will earn a markedly higher annual percentage yield than their standard counterparts.

Th lowest annual percentage yield available on a Benefit Plus CD is 0.2%. This is two times higher than the standard rate. This pattern of higher percentage yields replicates itself across all terms, from 3 months to 60.  The highest possible percentage yield on a benefit plus plan is 0.40%.

Availability

To open a Cd with Bangor Savings Bank, you must commit to an initial deposit of $500. The bank penalizes withdrawals before the ends of stipulated terms. Those seeking to open CDs with Bangor Savings Bank must contact a local branch and speak with a representative.

Branches in Maine

Bangor Savings Bank has branches in the following Maine locations, among others:

  • Brunswick
  • Lewiston
  • Scarborough
  • Portland.

Branches in New Hampshire

Bangor Savings Bank has New Hampshire branches in the following locations, among others:

  •  Manchester
  • Concord
  • Colebrook.

Bank Overview

Bangor Savings Bank was first established in 1852 and has its headquarters in Bangor, Maine. It states that its employees are its key asset, and it strives to do right by its employees so that it can get the absolute best out of them. The bank hopes this strategy will improve customer experience and benefits.

The bank is committed to serving its customers’ needs, no matter how small. From modest $500 deposits to much bigger tasks, it hopes to create the best possible yields for its customers. In this way, it also looks to serve the surrounding communities of Maine and New Hampshire.

The bank states a number of goals on its About Us page. One of those goals is to ‘leave things better than [they] found them.’ The bank looks to improve communities, help its customers, and foster trust between it and its clientele.

Bangor Savings Bank asserts its status as an equal opportunity employer. It iterates its commitment to racial equity on its about us page, stating that people are stronger together than they are apart.