Ad Disclaimer

Bangor Savings Bank VS Citizens Trust Bank

Which bank is better for you?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of personal deposit accounts
  • Business accounts available
  • Competitive interest rates on CDs
  • Most accounts have low opening amounts

Cons:

  • High opening required amount for MMA
  • Tiered interest rates
  • Accounts only for certain residents
  • Some accounts require a checking account
  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
0.05%APY
Savings/MMA
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of personal deposit accounts
  • Most accounts have low opening amounts
  • Business accounts available
  • Other products offered

Cons:

  • Most accounts have a monthly fee
  • Not all accounts can be opened online
  • Personal accounts have low-interest rates
  • Jumbo and regular CDs earn same rates
Bangor Savings Bank Review

Bangor Savings Bank offers a variety of personal deposit accounts. They offer three checking accounts and savings and money market accounts. Those accounts include a savings account for kids and one for the holidays. Bangor offers CDs that range from three-month terms to five-year terms.

Bangor Savings Bank offers a wide variety of business accounts. Those accounts include business checking and savings accounts. They offer business credit cards and insurance options. Bangor offers cash management and payroll services for businesses.

The Bangor Savings Bank CDs offer competitive rates. The interest rates for these CDs are competitive with other online CDs. The terms range from three months to five years. The amount required to open each CD is $500.

Most Bangor Savings Bank accounts have low required amounts to open. Each of the checking accounts requires $25 to open. Two savings accounts also only need $25 to open. The CDs each need $500 to open.

The Benefit Money Market and Market Rate account have high opening required amounts. These accounts each need $5,000 to open and to earn interest. Balances below $5,000 do not earn interest. There is a $10 monthly fee if the Market Rate account drops below $5,000. The Benefit Money Market does not have a monthly fee.

Some Bangor Savings Bank accounts have tiered interest rates. To earn the most competitive rate for the MMA requires an account balance of $100,000. The savings account requires $25,000. Amounts under that balance earn interest, just not the most competitive rate.

Bangor Savings Bank accounts are not available to anyone across the United States. Only residents of Maine, Massachusetts, New Hampshire, and Vermont can open an account. You can open some accounts online if you are a resident of one of these states. A few accounts require visiting a branch location.

Some accounts require having a Bangor checking account first. To open the Benefit Savings and MMA requires having a Bangor checking account. Once you have a checking account, you qualify to open these other accounts.

Read the full Bangor Savings Bank review.

Citizens Trust Bank Review

Citizens Trust Bank has a variety of personal deposit accounts. There is a checking account for students and those over 50 years old. Different checking accounts require different daily balances. Citizens Trust Bank offers holiday saving accounts and youth accounts. Their saving accounts require different balances. This allows you to find the account best for your finances.

Low opening required amounts for most Citizens Trust Bank accounts. The amounts needed to open accounts range from $25 to $100. Most checking accounts require $50 to open. The basic savings account requires $100 to open. CDS require $500 to open. The money market account and Silver Investor savings account have higher opening amounts. They require between $1,000 to $5,000.

Citizens Trust Bank offers business accounts. Checking and savings accounts are available. There are different merchant services and cash management options available to businesses. They also offer loans, credit cards, and investment accounts for businesses.

There are a variety of different products offered through Citizens Trust Bank. They offer personal and business credit cards and loans. They offer Investment accounts and different types of insurance, including life insurance, disability insurance, and final expense insurance.

Most Citizens Trust Bank accounts have a monthly fee. The fees range from $0.30 per check or debit card transaction to $15 a month. Waive the fees by keeping a minimum balance in the account. The required balances range from $5 to $7,500 depending on the account. Some accounts require enrolling in online banking and receiving eStatements.

Not all Citizens Trust Bank accounts can be opened online. Some accounts require visiting one of the Citizens Trust Bank financial centers. The youth savings account and the Christmas Club account must be opened in a branch location.

The interest rates for Citizens Trust Bank are low. The rates are similar to your typical brick and mortar bank rates. Their rates are not competitive with online bank rates.

Citizens Trust Bank offers regular and jumbo CDs. The regular CDs require $500 to open. The jumbo CDs require $100,000 to open. The interest rates are the same for the regular CDs and the jumbo CDs. Both rates are not competitive with other online accounts. The CDs range from seven-days to five-year terms.

Read the full Citizens Trust Bank review.

Favorite Rates

CIT Bank
Savings 08/19/2019
APY 2.30%
Rate 2.27%
For APY $100
Monthly Fee $0.00
Checkbook No
$25k+ balance or $100+/month deposit for 2.30% APY. Member FDIC.
Next >
CIBC Bank USA
Savings 08/19/2019
APY 2.20%
Rate 2.18%
For APY $1
Monthly Fee $0.00
Checkbook No
Grow your savings with a rate you can rely on.
Next >
State Farm Bank
MMA 08/19/2019
APY 2.00%
Intro Rate 1.98%
Intro Duration 12 Months
Post Intro 1.00%
For APY $1,000
Monthly Fee $10.00
To Avoid Fee $500
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
Next >