First National Bank of America Review 2022 Bankrate
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
FNBA's High Yield Savings Account pays a very competitive yield and requires $1,000 to open. It can be opened online.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
A $1,000 minimum deposit is required to open a CD. Early withdrawal penalties are much higher for longer-term CDs.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Simple Checking, which Bankrate scored for this review, pays a competitive APY and requires only $100 to open, but it has a $500 minimum daily balance or $750 average daily balance requirement to avoid a $6 monthly service fee. It comes with a free ATM/debit card at account opening.
HomeTowne Checking pays top-tier rates and requires $1,000 to open. But it has a $1,000 minimum balance requirement to avoid a $10 monthly charge.
FNBA's nonsufficient funds fee is $30, which is below the national average.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. First National Bank of AmericaFirst National Bank of America Review 2022
Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
4.2 Bankrate Score CDs Checking Savings About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
First National Bank of America is a solid choice for consumers who prefer a community bank, live within the bank's branch footprint and want competitive APYs on CDs and other deposits, as well as the convenience of online and mobile banking.Highlights
Top CD Rates Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
FNBA is a federally insured bank with more than $2.6 billion in assets. It opened in 1955 as First National Bank of East Lansing.Pros
It pays competitive yields on deposits. FNBA offers access to over 55,000 ATMs across the U.S. It offers online and mobile banking through its highly rated mobile app.Cons
Accounts other than CDs must be opened at a branch. Its three branches are all in Michigan. Some online banks offer higher yields.First National Bank of America bank products
Savings CD Checking 3.6 Bankrate ScoreFirst National Bank of America savings overview
First National Bank of America offers the Statement Savings account, a High Yield Savings Acccount and a health savings account. Statement Savings pays a decent APY that far exceeds the national average and requires only $100 to open. You must maintain an average balance of $199 to avoid a $2 monthly service fee.FNBA's High Yield Savings Account pays a very competitive yield and requires $1,000 to open. It can be opened online.
Pros
Statement Savings has a reasonable opening deposit. Statement Savings has a reasonable minimum balance requirement to avoid a monthly fee. The Statement Savings APY is well above the national average. The High Yield Savings Account pays a very competitive APY and can be opened online.Cons
The Statement Savings account must be opened in a branch. Statement Savings doesn't have APY tiers, so bigger savers are not rewarded with higher rates. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 4.7 Bankrate ScoreFirst National Bank of America CD overview
First National Bank of America offers seven terms of certificates of deposit, ranging from one year to seven years. Annual percentage yields are better than some online banks, which typically pay the top rates. A CD can be opened online or in a branch and there is no difference in the interest rate.A $1,000 minimum deposit is required to open a CD. Early withdrawal penalties are much higher for longer-term CDs.
Pros
FNBA offers very competitive yields. There are seven CD terms to choose from. CD accounts opened online and in a branch pay the same APY. The minimum opening deposit for a CD is fairly low at $1,000.Cons
The bank does not offer specialty CDs, such as no-penalty or bump-up CDs. Better yields can be found at some online banks. Early withdrawal penalties are much stiffer for longer-term CDs. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 4.1 Bankrate ScoreFirst National Bank of America checking overview
FNBA has two interest-bearing accounts that can only be opened at one of its three branches.Simple Checking, which Bankrate scored for this review, pays a competitive APY and requires only $100 to open, but it has a $500 minimum daily balance or $750 average daily balance requirement to avoid a $6 monthly service fee. It comes with a free ATM/debit card at account opening.
HomeTowne Checking pays top-tier rates and requires $1,000 to open. But it has a $1,000 minimum balance requirement to avoid a $10 monthly charge.
FNBA's nonsufficient funds fee is $30, which is below the national average.
Pros
Simple Checking pays a competitive rate. Simple Checking comes with a debit/ATM card. HomeTowne Checking pays top-tier rates. The NSF fee is lower than the national average.Cons
You must visit a branch to open a checking account. HomeTowne Checking has a high opening deposit. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
First National Bank of America is a family-owned community bank with three branches in Michigan. It pays very solid interest rates on deposits and offers the conveniences of online and mobile banking. Though CDs and the high-yield savings account can be opened online, checking and statement savings accounts can only be opened at a branch. The bank’s mobile app is highly rated. FNBA is a good choice for consumers who prefer smaller banks and higher returns.About First National Bank of America
First National Bank of America is a family-owned community bank based in East Lansing, Michigan. FNBA offers checking, savings, IRAs and CDs with competitive rates, as well as mortgages and business banking products. It has three branches and a large ATM network through Allpoint. It also offers online and mobile banking and has a highly rated mobile app. Most accounts must be opened in a branch.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .