Personal Banking Product Disclosures

The following are qualifications and conditions for Personal Banking products.  Please see the corresponding product page for full product details.

Checking Account Qualifications & Considerations
Bangor Workplace Advantage Program
Benefit 62 Checking
Benefit Checking
Benefit Plus® Checking

Savings Account Qualifications & Considerations
Benefit Money Market Account
Benefit Savings
Great Start Savings
Holiday Club
Market Rate Account
Statement Savings

Checking Account Qualifications & Conditions

 

Bangor Workplace Advantage Program (product page)

Minimum opening balance of $25 required. Minimum balance of $1,000 each day is required to earn interest. 

The $20 monthly service charge will be waived for the primary owner or manager of the business checking relationship and for employees of participating businesses. 

The $20 monthly service charge is also waived if qualification is maintained. Qualify by maintaining $10,000 in combined balances in your Bangor Savings Bank deposit accounts, Bangor Savings Bank Trust or Bangor Financial Services account; a Bangor Savings Bank residential first mortgage and/or a Bangor Savings Bank home equity line of credit of $10,000 or more.

Minimum $25 opening deposit and Bangor Savings Bank checking account required in order to open Benefit Savings or Benefit Money Marketing Account. 

$25.00 cash bonus offer for new Benefit Plus® Checking account opening is limited to one bonus per employee; bonus paid at account opening into the newly opened account. The $25 cash bonus will be reported on a 1099-INT as interest earned. The current Benefit Plus® Checking yield is available on our Rates page. Rates are subject to change daily. 

No annual fee credit card with Rewards, subject to credit qualification.

Overdraft protection with Standby Money subject to credit qualification.

Any applicable origination fees for personal loans waived with Bangor Savings Bank Benefit Plus® Checking account and auto-payment of loan payment.

Relationship rate on home equity loan requires a Bangor Savings Bank deposit account and payment of loan with automatic payment.

The CD interest rate bonus is a one-time rate increase above the stated Certificate of Deposit rate. CD will renew at the regular Benefit Plus CD rate. 

Related Product Disclosures: Benefit Plus® Checking, Benefit Savings, Benefit Money Market Account

 

Benefit 62 Checking (product page)

For customers 62 years of age and older. Minimum $25 deposit to open. Benefit 62 is a non-interest bearing account. No minimum daily balance, no monthly service charge, truncated or imaged. An early account closure fee applies to accounts closed within 90 days of opening.

Overdraft protection with Standby Money subject to credit qualification.

Related Product Disclosures: Benefit Savings

 

Benefit Checking (product page)

Minimum $25 deposit to open. Benefit Checking is a non-interest bearing account. No minimum daily balance, no monthly service charge. An early account closure fee applies to accounts closed within 90 days of opening.

Overdraft protection with Standby Money subject to credit qualification.

No annual fee credit card with Rewards available, subject to credit qualification.

Related Product Disclosures: Benefit Savings

 

Benefit Plus® Checking (product page)

The $20.00 monthly service charge will be waived if qualification is maintained. Qualify by maintaining $10,000 in combined balances in your Bangor Savings Bank deposit accounts, Bangor Savings Bank Trust or Bangor Financial Services accounts; a Bangor Savings Bank residential first mortgage; a Bangor Savings Bank home equity line of credit of $10,000 or more. This account is available as truncated or imaged. An early account closure fee applies to accounts closed within 90 days of opening.

$25.00 minimum balance to open our Benefit Plus® Checking account. Minimum balance to earn interest is $1,000. The current Benefit Plus® Checking rate is available on our Rates page. Rates are subject to change daily. Fees could reduce earnings on the account.

No annual fee credit card with Rewards, subject to credit qualification. Overdraft protection with Standby Money subject to credit qualification.

Personal loan document preparation fee waiver is dependent on payment of the loan with automatic payment from a Bangor Savings Bank account.

Related Product Disclosures: Benefit Savings, Benefit Money Market Account

 

Savings Account Qualifications & Conditions

 

Benefit Money Market Account (product page)

Must have or open a personal checking account. Minimum to open is $5,000. An early account closure fee applies to accounts closed within 90 days of opening.

You must maintain a minimum balance of $5,000 to accrue interest. This is a tiered rate account. The current Benefit Money Market Account rates are available on our Rates page. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month, including check, draft, or debit card.

 

Benefit Savings (product page)

Must have or open a core checking account. Minimum to open is $25. An early account closure fee applies to accounts closed within 90 days of opening.

You must maintain a minimum balance of $25 to accrue interest. This is a tiered rate account. The current Benefit Savings rates are available on our Rates page. Your interest rate and annual percentage yield may change. We reserve the right to change the interest rate on your account at any time. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate the interest on your account. Non-cash deposit interest begins to accrue on the business day you deposit items.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month.

 

Great Start Savings (product page)

Must be under the age of 18 to be eligible for Great Start Savings. An adult co-owner is required for minors under the age of 16. Minimum to open Great Start Savings is $1. An early account closure fee applies to accounts closed within 90 days of opening.

The current Great Start Savings rates are available on our Rates page.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month.

 

Holiday Club (product page)

$25 minimum balance in the account each day to obtain the disclosed annual percentage yield. An early account closure fee applies to accounts closed within 90 days of opening.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month.

 

Market Rate Account (product page)

$5000 minimum balance to open and keep as a minimum daily balance to obtain the disclosed annual percentage yield. Monthly service charge of $10.00 if balance falls below $5,000 minimum. An early account closure fee applies to accounts closed within 90 days of opening.

The current Market Rate Account rates are available on our Rates page.

Market Rate IRA available: $25 minimum to open and keep as a minimum daily balance to obtain the disclosed annual percentage yield; interest compounded daily, with $25 minimum balance.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month, including check, draft, or debit card.

 

Statement Savings (product page)

Interest is compounded daily and rates are tiered for higher yields. An early account closure fee applies to accounts closed within 90 days of opening.

The current Statement Savings rates are available on our Rates page.

Federal regulation limits third party or pre-authorized transfers (including overdraft transfers) or transfers made by telephone, personal computer or mobile device to six per calendar month. 

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