Many of the biggest banks in the nation leverage their mobile apps to help users bank on the go. Did you know Bank of America leads the pack with over 30 million active mobile users?
When managing your finances, choosing the right bank is crucial. In the beautiful state of Maine, several outstanding financial institutions cater to the diverse needs of its residents.
Whether you're a long-time Mainer or new to the area, finding the best bank is essential for financial stability. In this article, we will explore and highlight the best banks in Maine.
These banks excel in various areas, from exceptional customer service to convenient branch locations, competitive interest rates, and robust online banking platforms. We will delve into their offerings, including checking and savings accounts, loans, mortgages, and investment options.
Are you ready to learn more about the best banks in Maine? Let’s get started!
11 Best Banks in Maine
Banking in the Pine Tree State can make it feel like money does grow on trees. Check out our list of the best banks in Maine to see what perks you can take advantage of.
Best Checking Accounts
- Get up to a $500 advance anytime
- Enjoy no overdraft or monthly maintenance fees (100% free)
- Access your paycheck up to two days early
- Earn cashback on purchases at select retailers
- Access to over 40,000 fee-free ATMs
- Get a $300 bonus with a $500+ direct deposit
- No monthly fees when you meet qualifying electronic deposits or account balance minimums
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs
- No overdraft fee if you’re overdrawn by $50 or less at the end of the business day
- Member FDIC
- Earn up to a $325 bonus and up to 3.80% APY on your money
- No account, overdraft, or monthly fees
- Get your paycheck up to two days early
- Access additional FDIC insurance up to $2 million
- Earn up to 0.25% APY on your balance
- No monthly maintenance fees
- Get up to $30 in ATM fee reimbursements each month
- Manage your account with easy mobile banking tools
Best Savings Accounts
|
NEW FOR 2025
|
||
|
|
|
|
Our Rating:
5.0
|
Our Rating:
4.7
|
Our Rating:
4.5
|
|
Earn up to 4.86% APY with no monthly fees or minimum balance requirements
|
Earn up to 4.35% APY on balances of $5,000 or more (no monthly fees)
|
Earn up to a $325 bonus and up to 3.80% APY on your money (no monthly fees)
|
|
|
|
- Earn up to 4.86% APY on savings, and 0.51% APY on checking
- Get your money up to 2 days early
- Expanded FDIC Insurance for up to $265 million
- Enjoy 24/7 online access to your account and funds
- No account opening or monthly services fees, so you can keep what you earn
- Enhanced security and FDIC insured
- No account, overdraft, or monthly fees
- Get your paycheck up to two days early
- Access additional FDIC insurance up to $2 million
1. KeyBank (Our Pick)
Key Smart Checking® from KeyBank is one of the best checking account options available to Maine residents. With no monthly maintenance fees and no minimum balance requirements, it’s designed for simplicity and convenience.
New customers can earn a $300 bonus by opening an account online by May 16th, 2025, making a $10 minimum deposit, and completing one single eligible direct deposit of $1,000 or more within the first 60 days. This is one of the simplest bank account bonuses to score.
This account offers several perks, including free access to KeyBank and Allpoint® ATMs nationwide, overdraft protection with no transfer fees when your checking account is linked to an eligible KeyBank credit or savings account, and you may be able to get paid up to two days early with Early Pay.
Additionally, the EasyUp® feature can help you build up savings or pay down debt without even thinking about it.
Key Smart Checking® also provides robust online and mobile banking services, allowing you to deposit checks, pay bills, and manage your account securely from anywhere. Enjoy added security and convenience with a KeyBank Debit Mastercard®.
You can find more information about fees and availability on KeyBank's official website.
Key Smart Checking® from KeyBank offers no monthly fees or minimum balance requirements, making it affordable. It provides convenient online and mobile banking features, including mobile check deposit and contactless payments. With a large network of ATMs and overdraft protection options, it's ideal for tech-savvy and budget-conscious users.
2. Bangor Savings Bank
Bangor Savings Bank, Maine's largest independent bank, offers comprehensive financial services catering to personal and business needs. As a community bank, it prioritizes providing exceptional customer service and rivals some of the best national banks.
This Maine bank offers convenient solutions like checking and savings accounts, mobile banking, and competitive CD rates. The bank goes the extra mile by reimbursing fees for third-party ATMs, ensuring easy access to cash wherever you are.
With a commitment to customer satisfaction, some checking accounts come with no monthly fees, providing additional value to account holders. Bangor Savings Bank stands out not only for its wide array of financial offerings but also for its exceptional customer service.
Opening an account with Bangor Savings Bank is accessible to all, with a low minimum deposit requirement of $25. The bank prides itself on providing a personalized banking experience, ensuring customers' needs are met and questions are answered promptly.
3. Camden National Bank
Camden National Bank, established in 1875, is Maine's largest independent publicly traded bank. This bank has branches throughout Maine and New Hampshire.
The Premier Checking account from Camden National Bank is particularly beneficial for travelers, as it offers unlimited ATM rebates. Camden National Bank understands the importance of convenience, so they reimburse up to $10 in out-of-network ATM fees each month.
In addition, Camden National Bank also provides wealth management services. This bank also offers competitive rates on savings accounts.
With a long-standing history and a commitment to exceptional service, Camden National Bank continues to be a trusted financial institution in the region. The bank’s extensive branch network, ATM reimbursement benefits, multiple checking account options, wealth management services, and competitive savings rates make it a go-to choice for individuals and businesses in Maine and New Hampshire.
4. cPort Credit Union
If it’s credit union promotions you’re looking for, check out cPort Credit Union. This Maine credit union has branches in Portland, Augusta, and Scarborough.
cPort Credit Union offers various financial products and services, including checking and savings accounts, money market accounts, HSAs, IRAs, and CDs. With a low minimum requirement of $5 to open an account, it's accessible to many.
You can earn dividends on a daily balance of $100 or more. cPort Credit Union also offers competitive rates for CDs, money market accounts, and savings accounts.
Whether you prefer the convenience of opening an account online or the personalized service of an in-person visit, cPort Credit Union caters to your preference. cPort Credit Union is also NCUA insured.
5. Eastmill Federal Credit Union
Eastmill Federal Credit Union provides hassle-free banking with no minimum balance requirements and no monthly fees. Connect your savings and checking accounts for convenient overdraft protection.
Membership is open to individuals who work, live, worship, or attend school in Penobscot County and southern and central Aroostook County. Additionally, relatives of existing members are eligible to join.
To open a Share Savings account, Eastmill Federal Credit Union requires a deposit of $25. Eastmill Federal Credit Union offers convenient access to its services with branches in East Millinocket and Patten.
Experience the benefits of being a member of Eastmill Federal Credit Union, where you can enjoy the convenience of linked accounts and no fees. Join today and discover the personalized and welcoming experience that Eastmill Federal Credit Union provides.
6. Gorham Savings Bank
Gorham Savings Bank, established in 1868, offers various financial solutions. With a focus on customer satisfaction, their checking accounts provide interest and rewards.
With eight checking account options available, including cashback rewards and interest-bearing accounts, Gorham Savings Bank ensures there is a suitable choice for every customer. Enjoy tiered checking options, and rest easy knowing that out-of-network ATM fees are reimbursed.
The Statements Savings account is their primary savings option, offering an attractive APY with no monthly fee. To maintain this rate, Gorham Savings Bank requires a $25 daily balance and a $1 minimum opening deposit.
While most accounts don't have a monthly fee, some may have associated fees. In addition to checking and savings accounts, Gorham Savings Bank provides various financial products and services such as money market accounts, CDs, IRAs, credit cards, home equity lines of credit (HELOCs), mortgages, and more.
7. Infinity Credit Union
Infinity Credit Union offers Bridge Checking, a second-chance checking account that provides a fresh start for individuals seeking financial stability. With no monthly fees, minimum requirements, or minimum deposits, this account offers flexibility and accessibility.
You can also receive a free first order of checks and unlimited check writing, ensuring convenience for your banking needs. While Infinity Credit Union doesn’t allow overdrafts with this account, it does provide a daily ATM withdrawal limit of $100 for debit card transactions and $1,000 for cash withdrawals.
Infinity Credit Union has branches located in Bangor and Portland, serving individuals who live, work, worship, or go to school in Cumberland and York Counties, as well as the city of Bangor. With a commitment to supporting these communities, Infinity Credit Union provides a reliable and welcoming banking experience for those seeking a second-chance checking account.
8. Machias Savings Bank
Opened in 1869, Machias Savings Bank has 17 branches within the state of Maine. You can choose from several checking and savings accounts, CDs, and some of the best money market accounts.
While Machias Savings Bank does have limited ATMs, it will reimburse you up to $25 in third-party ATM fees each month. You can also earn a nickel each time you use your debit card.
When you open a checking account with Machias Savings Bank, you must make a $100 initial deposit. However, these accounts come without a monthly fee.
9. Midcoast Federal Credit Union
Midcoast Federal Credit Union offers Compass Checking, an excellent option for those needing a second-chance checking account. With this account, you can enjoy helpful money management tools, budgeting guides, and e-alerts to stay on top of your finances.
There are no minimum balance requirements or minimum deposits, making it accessible for all. Say goodbye to monthly fees and enjoy the benefits of a free debit card.
Midcoast Federal Credit Union proudly serves individuals who live, work, worship, or attend school in rural communities throughout Maine. Their commitment to supporting these communities is evident in their range of financial services and personalized approach.
Whether you're seeking a fresh start or reliable banking services, Compass Checking from Midcoast Federal Credit Union provides the flexibility and convenience you need. Take control of your finances and enjoy the benefits of a trusted financial partner that understands your unique circumstances.
10. Partners Bank
Partners Bank, a community bank located in southern Maine, offers a range of financial services to cater to individual and small business needs. They are committed to customer convenience and provide free third-party ATM use and a debit Mastercard for easy transactions.
Small businesses can benefit from fee-free business checking and a Mastercard credit card. Additionally, cash rewards are available on debit card purchases.
Though Partners Bank has limited branches, its focus on customer service remains unwavering. Founded in 1933, it has a long-standing history in the community.
Partners Bank offers competitive rates on savings and money market accounts. Its Fast Lane Checking account is a savings account with no monthly fees or minimum opening deposit requirement. The account's APY rate depends on your balance.
11. Saco & Biddeford Savings Institution
This Maine-based savings institution isn’t as scary as it sounds. In addition to checking and savings accounts, Saco & Biddeford Savings Institution offers HSAs, IRAs, and CDs.
You’ll also find one of the best banking apps with Saco & Biddeford Savings Institution. This Maine bank has multiple branches and ATM locations so that you can open an account around the state.
Open a Mainely Preferred Savings account with no monthly fee or minimum balance requirements. You can also earn more on larger balances with tiered interest rates.
Saco & Biddeford Savings Institution is FDIC insured. Founded in 1827, this savings institution requires that you visit a physical branch to open a new account.
12. TD Bank
Considered to be among the top 15 largest banks in the U.S., TD Bank is headquartered in Cherry Hill, New Jersey, and Portland, Maine. It has 260 ATMs across the region and serves several states, including:
- Maine
- Connecticut
- Delaware
- Florida
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Pennsylvania
- Rhode Island
- South Carolina
- Vermont
- Virginia
- Washington, D.C.
TD Bank offers new checking accounts with attractive bonuses, providing added value for customers. With a minimum balance of $100, customers can enjoy fee-free checking accounts, avoiding monthly fees.
The bank also provides competitive rates on CDs. However, TD Bank offers low interest rates on its savings accounts.
FAQ
TD Bank, Bangor Savings Bank, and Machias Savings Bank offer free checking accounts. Some accounts may require that you complete specific requirements to waive any existing monthly fees.
To open a bank account in Maine, you need your Social Security number, proof of your address, personal identification, and an initial deposit. In some cases, certain banks will waive the initial deposit to make it easier to open an account.
While some banks may have membership or location restrictions, many of the best banks in Maine allow residents outside the state to open accounts. Check with the specific bank you have in mind to discuss the restrictions.
You can have as many bank accounts open as you want. Most people open an additional bank account to take advantage of the best bank account bonuses but be careful of opening more accounts than you can manage.
Final Thoughts
Maine is not only renowned for its breathtaking natural beauty but also for its exceptional banks. Whether you're a resident or a visitor, the best banks in Maine provide reliable and convenient services that cater to your unique needs.
We hope this article has helped you find the best bank in Maine to serve your needs. The better you bank, the more time you have to enjoy the best parts of this northeastern state.
From the lively streets of Portland to the tranquil coastal towns, Maine’s best banks stand out. So, whether you're looking to open a savings account, secure a loan, or manage your finances on the go, trust the best banks in Maine to provide you with an authentic and exceptional banking experience.
Which of Maine’s best banks will you bank with?
