Best Banks in Maine
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
When seeking out a financial institution, Maine residents have no shortage of options. With a big selection of regional banks and national banks, finding the right fit is a matter of deciding what you need in your unique situation.
In this guide, GOBankingRates has pulled together a list of the Best Banks by State of 2025 to help you find a bank that can best support your financial needs. Take a closer look at the banks that stand out in Maine, including how their checking, savings and certificate of deposit (CD) choices stack up.
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GOBankingRates' editorial team is committed to bringing you unbiased bank reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our in-depth bank review methodology.
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TOP MAINE BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Maine
Here’s a rundown of the main features and account benefits of GOBankingRates’ picks for top banks in Maine.
Gold Winner: KeyBank
KeyBank has physical branches spread throughout Maine and beyond. A low-fee checking account option could make this bank a great fit for you.
Best For
Mobile Banking
Low Monthly Fees
Personal Loans
Credit Cards
Interest Checking
Low-Fee Savings and No-Fee Checking Accounts
KeyBank stands out for its impressive selection of checking and savings accounts with benefits smaller banks rarely offer. Key Select checking customers enjoy a APY plus a $100 annual bonus with qualifying direct deposits.
Total Branch Locations
Over 1,000
Mobile App Rating
4.7 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, personal loans and lines of credit
Pros
- Comprehensive selection of accounts
- Bonus and rewards programs
- Low- and no-fee options
- Large network of ATMs
Cons
- High fees on some accounts
- Only one interest-bearing checking account
- Branch access is limited
- High overdraft fee
Why We Like KeyBank
KeyBank offers a well-rounded selection of checking and savings accounts with perks like automatic savings, early pay and overdraft forgiveness for overdrafts of $20 or less. Customer service for online and mobile banking is available by phone seven days per week, and you can make an appointment at your local branch to meet face-to-face with a representative.
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Silver Winner: Bangor Savings Bank
Bangor Savings Bank offers a wide selection of checking and savings accounts, including checking accounts designed specifically for teens and seniors. Beyond low-fee checking account options, the bank offers rewards opportunities when you spend with either a credit or debit card.
Best For
Mobile Banking
Auto Loans
Low Minimum Deposits
Personal Loans
Low Monthly Fees
Checking Accounts to Suit Different Needs
Bangor Savings Bank offers multiple checking accounts, each designed to suit different needs. For example, seniors can get value out of the Benefit 62 Checking, while those living with a disability may get more value out of the Maine ABLE Benefit Checking account. While the bank doesn’t offer high APYs on savings products, easy access to in-person branches might make this bank worthwhile.
Total Branch Locations
Over 65
Mobile App Rating
4.8 on the Apple App Store and 4.7 on Google Play
Other Products Offered
Checking, savings, credit cards, mortgages, personal loans, education loans, auto loans
Pros
- Low-fee checking account options
- Large number of accounts
Cons
- Relatively low APYs
- CDs must be opened at a physical branch
Why We Like Bangor Savings Bank
Bangor Savings Bank puts a focus on giving back to the community in Maine. Beyond intentional community involvement, the bank’s variety of checking accounts makes it stand out. Although the savings accounts offer relatively low APYs, the cash back rewards credit cards offer an impressive 2% back.
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Bronze Winner: Machias Savings Bank
Machias Savings Bank offers Maine residents a large selection of financial products. You’ll find a simple checking and savings account option, plus CDs of varying terms. If you are in the market for a mortgage or credit card, you can also find these options through this bank.
Best For
Mobile App
Low Monthly Fees
Investment Services
Loan Options
Credit Cards
Community-Focused Bank With Overdraft Protection
Machias Savings Bank can help you put your savings to work with a high-yield savings account, which offers up to 3.00% APY. Its checking account also offers worthwhile overdraft protection limits ranging from $500 to $2,500.
Total Branch Locations
16
Mobile App Rating
4.8 on the Apple App Store and 4.0 on Google Play
Other Products Offered
Checking, savings, CDs, mortgages, credit cards
Pros
- Checking account offers interest on some balance tiers
- Ample overdraft protection
- Competitive APYs on savings accounts
Cons
- Need at least $100 to open a new savings account
- Will need at least $500 to open a CD account
Why We Like Machias Savings Bank
Machias Savings Bank offers a local feel with a physical footprint across Maine. Beyond the ability to handle banking tasks in person, you’ll also find robust overdraft protection within the bank’s single checking account option.
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Best Banks
Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 31, 2025.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Bank in Maine
When comparing the best Maine banks, consider your banking preferences. If you like visiting physical branches, regional Maine banks and credit unions can be a strong option — and there’s no shortage of them across the state. While their APYs may not always match what online banks in Maine offer, they often provide strong customer service and a local touch.
Here are key factors to keep in mind when choosing among the top banks in Maine:
- Location: Make sure the Maine credit union or bank you’re interested in has a nearby location if in-person banking is important to you.
- Availability: Check branch hours and holiday schedules. If 24/7 access or high rates are your priority, an online bank may be the best fit for savings accounts in Maine.
- Bank health: Some Maine banks remain small and local, but others are limited from expanding nationally because they aren’t raising enough assets or generating enough profit. Look at your bank’s financials to ensure they’ll be there for the long haul.
- Rewards and promotions: Many Maine banks offer local incentives or sign-up bonuses. Compare offers to find one that fits your needs — especially for checking accounts in Maine.
- Account offerings: Some regional banks are limited in terms of their product lines, so be sure that the regional bank you’re considering offers everything you’ll need.
- Community focus: If giving back is important to you, look into whether your Maine credit union or bank supports local organizations or initiatives.
Conclusion
Before exploring your banking options, take some time to consider what you are looking for in a bank. Depending on your situation, you might prioritize great rates, prime locations or something else. Generally, Maine residents can find great options through Bangor Savings Bank, KeyBank and Machias Savings Bank. Consider all of your options before jumping into a new account.
FAQs About Banking in Maine
Here’s more information to help you find the best Maine bank for your needs.- What is the best bank for high-yield savings in Maine?
- Machias Savings Bank offers some of the best high-yield savings account options in Maine.
- Which banks have the most ATMs in Maine?
- Many credit unions and banks offer access to an ATM network. For example, many Maine credit unions participate in the SURF program, which gives customers access to thousands of ATMs across the state.
- Are there any banks in Maine with no monthly fees?
- Bangor Savings Bank and KeyBank each offer checking account options without a monthly fee.
More Resources for Banking
Best Banks
Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Sarah Sharkey contributed to the reporting for this article.
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