Bar Harbor Savings and Loan [Everything You Need To Know!]

Bar Harbor Savings and Loan

Bar Harbor Savings and Loan – A loan association in 103 Main St, Bar Harbor, ME 0409, the USA called Bar Harbor Savings & Loan Association is one of the largest and successful banks in the state of Maine. This bank existed in 1902 up until now. Besides, Bar Harbor has a good reputation for their healthy rating and the highest rate of CD than the average.

Bar Harbor operates as a full-service bank. This bank provides loans, deposits and many other financial services for public and society as well as people or non-profit organization.

In 2017, Bar Harbor acquired N. H. based Lake Sunapee Bank Group which succeeded to deliver Bar Harbor to the third place position of the largest bank in Maine. The bank received a 10 percent increase on the second quarter because of this acquisition.

Doing a good deed is one of this association’s hobby as well. On June, Bar Harbor Savings and Loan had been a permanent support for Jesup summer reading program. And on this October, they become a sponsor for Mary Parker Memorial event. All of the employees and staffs gather together to help out. Money raised from this event will be used to support transportation for the elders and people with disabilities in the area.

Bar Harbor Savings and Loan

The advantage of Applying for Loan in Bar Harbor Savings and Loan

Over 100 years, Bar Harbor has been provided affordable house mortgage. Their interest rate is quite low and competitive with another association that provided the same service. There are many types of fixed rate mortgages that are available for your option. Don’t hesitate to have a consultation with the expert there!

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They can help you to choose which mortgage that is suitable and fit you well. Something differs Bar Harbor with other Saving and Loan Association is the predictable fee and payments that we should pay on the due date, no extra payment required and moreover, no scam!

Talking about the rate in Bar Harbor, they play a fair game since all the rates are locked in for 60 days at the application without any extra fee. Some people worry that their interest rate will fluctuate as time goes by but that will not be the case in Bar Harbor.

What makes life easier in applying for the loan in Bar Harbor is the approval process which is not troublesome at all. They have this motto: “All applications are subject to approval.” Mostly approval process only takes a week time.

Bar Harbor Savings and Loan helped one of their borrower to find a house and start their small business then expand it to a bigger business. Others even compliment the friendly service that makes them feel welcomed.

The disadvantage of Applying for Loan in Bar Harbor Savings and Loan

Up until now, we still can’t find any disadvantage or complaints about Bar Harbor Savings and Loan. It may be because Bar Harbor provides a professional service and low closing costs. The only downside on this savings association is their business operation is quite small and only attracts some locals than a few of its competitor.