Northeast Bank Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon


  • Low required amounts to open accounts
  • Variety of personal deposit accounts
  • Business accounts offered
  • Pearl MMA earns a good rate


  • Low interest rates on accounts
  • Some accounts have tiered interest rates
  • Accounts opened in branches
  • Monthly fees for most accounts

What You Need to Know

The required amounts to open Northeast Bank accounts are low. The savings account requires $100. The holiday club requires $2, and all CDs only require $500 to open. One checking account requires $25 to open. The other three checking accounts require $100 to open.

Northeast Bank offers a variety of personal deposit accounts. They offer a savings account for youth, regular savings, and a holiday savings account. Two money market accounts are offered. There are four checking accounts, including one for those 50 or older. There are a variety of CD terms, ranging from six-months to five-years.

Along with personal deposit accounts, Northeast Bank offers business accounts. Those include savings, checking, and money market accounts. They offer lines of credit, business, and equipment loans. Cash management options are available. Each account comes with online bill pay and banking, and merchant card processing.

The Pearl money market account is available to open to those who live by a branch location. This money market account earns more competitive interest rates than the other accounts. This account is only for new customers to Northeast Bank. Any amount over $0.01 earns the competitive rates. The minimum opening amount is $5,000. The account fee amount or required balance is not listed on the website.

The interest rates for most Northeast Bank accounts are low. They are not competitive with other online accounts. Northeast Bank checking accounts earn interest. Some accounts have tiered interest rates.

To earn the highest interest on some Northeast Bank accounts requires a large sum. The regular money market account requires $100,000 to earn the most competitive rate. The business MMA requires $75,000. The Northeast Express Gold personal checking account requires $50,000. Any balance earns some interest, just not the most competitive rate. The most competitive rate offered is not competitive with other online accounts.

The accounts listed on the Northeast Bank website are only able to open in a branch location. No online accounts are offered directly through the Northeast Bank website. Online accounts are offered through ableBanking, their online division.

Most accounts offered through Northeast Bank have a monthly fee. The fees range from $1 to $7 a month, depending on the account. To waive the monthly fee requires a set balance be in the account. That amount varies from $100 to $10,000.

Cool Things

Holiday Club Savings Account

Northeast Bank offers a savings account specifically for the holidays. This account only requires $2 to open the account and earn interest. The interest rate on the account is not competitive but does earn some interest. There is a $10 fee if you withdraw money before the set time.


Northeast Bank started in 1872. They are a full-service community bank in the state of Maine. They provide a variety of personal deposit and business accounts. They also offer personal lending options as well as business lending.

Northeast Bank has over 200 employees and ten branch locations in the state of Maine. Headquarters for Northeast Bank is in Lewiston, Maine. In 2017, they had more than $1 billion in total assets.

ableBanking is an online division of Northeast Bank. Through this bank, they offer an online money market account and five CD terms. Everything for these accounts is online.

Giving Back

Northeast Bank donated $10,000 to support Junior Achievement of Maine. This donation went to support JA programs throughout the state. Junior Achievement partners with businesses and schools to provide financial education to students. This program helps teach children to help provide a better financial future for them.

In 2016, Northeast Bank launched Heroes Advantage Mortgage Program. This program is for local educators, law enforcement, military, firefighters, and healthcare personnel. Northeast Bank offers a closing cost credit to say thank you to these everyday heroes. You must qualify to receive this mortgage credit.

Frequently Asked Questions

Is Northeast Bank FDIC insured?

Yes. Northeast Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

ATM or debit cards, checks, electronic transfers, or by visiting a local branch location.

Does Northeast Bank offer mobile banking?

Yes. Through the Northeast Bank mobile app, you can view accounts, transfer money, or pay bills. You can also deposit checks through the app and sign up to receive account alerts.

Is Northeast Bank free?

No. Most all Northeast Bank accounts have a monthly fee. Those fees range from $1 to $7 a month. To waive the fees requires a set balance be in the accounts. That balance ranges from $100 to $10,000.

Is Northeast Bank a good bank?

Northeast Bank offers a variety of personal and business accounts. Their accounts have monthly fees, but they are low and easy to waive. These accounts can only be opened at a branch location. The Pearl MMA offers the most competitive rate of all Northeast Bank accounts.

Is Northeast Bank secure online?

Northeast Bank provides security measures that comply with federal law. They offer computer safeguards, along with secure files and buildings.

Does Northeast Bank offer competitive interest rates?

The interest rates are not competitive with other online accounts. The Pearl MMA does offer a more competitive rate.

Can I use Northeast Bank for my business accounts?

Yes. Northeast Bank offers a variety of business accounts. Savings, checking, and money market accounts are available for businesses. They also offer lending and cash management options.

How is Northeast Bank online banking different from the online banking my bank offers?

It is the same. The accounts at Northeast Bank cannot be opened online. The interest rates on the accounts are similar to other brick and mortar accounts.

Do Northeast Bank checking accounts pay interest?

Yes. Northeast Bank checking accounts earn interest. To earn the most competitive rate offered requires a balance of $50,000 in the account. Balances under that amount earn interest, but a lower rate.

How do I reach customer service?

By phone, email, mail, or by visiting a local branch location.

Does Northeast Bank offer bill pay?

Yes. All Northeast Bank checking accounts come with free bill pay options.

Can I deposit cash?

Yes, at a local branch location.

How long do transfers take?

Specific transfer times are not listed on the website.

Can I sign up for direct deposit to Northeast Bank accounts?

Yes. Money can be directly deposited into Northeast Bank accounts.

Bank Contact Information

Northeast Bank
500 Canal Street
Lewiston, ME 04240

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Savings (Rate as of 7/18/2024)
APY 4.25%
Rate 4.16%
For APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
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Savings (Rate as of 7/18/2024)
APY 4.50%
Rate 4.50%
For APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
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