Bank CD Rates with Camden National Bank

Camden National Bank is a full service community bank with a network of 37 bank branches serving coastal, western, central, and eastern Maine.  The bank provides commercial and consumer banking products and services primarily in Maine.  It principally engages in the standard banking activities of making deposits and originating loans.  The bank’s deposit products include NOW accounts, savings accounts, money market accounts, certificates of deposit, and demand deposits.  Its lending products include residential mortgage loans, commercial business loans, commercial real estate loans, and consumer loans.

The company was founded in 1875 and is headquartered in Camden, Maine.  Camden National Corporation operates as the holding company for Camden National Bank. Camden National Corporation, through Acadia Financial Consultants, also provides brokerage and insurance services.  In addition, it offers trust, trust-related, investment, and wealth management services, as well as retirement and pension plan management services to individual and institutional clients, through its other subsidiary, Acadia Trust, N.A.  The bank had total assets at December 31, 2008 of $2.3 billion.  For the year, the bank had net income of $15.3 million.  Camden National Bank reported a total risk-based capital ratio of 11.53%, tier 1 capital ratio of 10.30%, and tier 1 leverage capital ratio of 6.61%.

With higher rates of return than traditional savings accounts, CDs offer safe, guaranteed ways to save.  Camden National Bank offers certificates of deposit with fixed rates for the term of the CD and FDIC insurance (up to the maximum allowed by regulation), so there is no risk or loss of principal as long as funds remain on deposit.  Interest earnings are available monthly, and can be paid out by check, deposited into an account, or reinvested back into the principal.  CDs will automatically renew at maturity and provide a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty or to notify us not to renew the certificate.  A penalty may be imposed for early withdrawal, please see Camden National Bank’s disclosure book for details.

CD rates:

3 month certificate of deposit rate is .75% APY
6 month certificate of deposit has a rate of 1.50% APY
1 year certificate of deposit earns and interest rate of 1.75% APY
18 month certificate of deposit rate is 2.00% APY
2 year certificate of deposit has an interest rate of 2.50% APY
3 year certificate of deposit earns and interest rate of 1.75% APY
4 year certificate of deposit has an interest rate of 3.25% APY
5 year certificate of deposit interest rate is 3.50% APY

Minimum opening deposit for these CD rates is $500.00.  For current CD rates and other bank rates call Camden National Bank at 800-860-8821.  Additional CD rates and account information is available on the bank website which is located at www.camdennational.com.

Tags: 1 year CD rates, 18 month CD rates, 2 year CD rates, 5 year CD rates, 6 month CD rates, Banks, Camden National Bank, CD rates, CD rates Maine, Maine bank, money market account, savings

This entry was posted on Thursday, February 26th, 2009 at 8:15 pm and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.