First National Bank of America Review: Checking, Savings, CD, Money Market and IRA Accounts
|
APY |
Account Type |
Account Name |
Compare Rates from Similar Accounts |
||
|---|---|---|---|---|---|
|
0.25% |
Savings |
First National Bank of America Statement Savings |
1.90% |
American Express National Bank High Yield Savings Account |
on American Express National Bank’s secure website Member FDIC |
|
2.60% |
CD Rates |
First National Bank of America 12-23 Month Time CD |
2.55% |
Goldman Sachs Bank USA High-yield 12 Month CD |
on Goldman Sachs Bank USA’s secure website Member FDIC |
|
2.80% |
CD Rates |
First National Bank of America 36-47 Month Time CD |
2.85% |
Synchrony Bank 36 Month CD |
on Synchrony Bank’s secure website Member FDIC |
|
3.25% |
CD Rates |
First National Bank of America 60 Month Time CD |
3.10% |
Goldman Sachs Bank USA High-yield 5 Year CD |
on Goldman Sachs Bank USA’s secure website Member FDIC |
First National Bank of America’s checking account options
How First National Bank of America’s checking accounts compare
Many of First Bank of America’s competitors offer no monthly fees and ATM refunds. Plus, First National Bank of America doesn’t advertise its Simple Checking account APY for you to compare it to our list of the best checking accounts.
You’re probably better off looking elsewhere.
First National Bank of America’s savings account option
How First National Bank of America’s savings account compares
It’s great that First National Bank of America doesn’t charge you any ATM fees, but its APY is less than impressive. Other institutions offer higher rates than what First National Bank of America offers, alongside no monthly maintenance fees — some of them even provide ATM access. You could be better off going with one of the competitors found on our list of the best online savings accounts.
First National Bank of America’s CD rates
How First National Bank of America’s CD rates compare
We’re fairly impressed with the rates we’re seeing, as some of them are pretty much equal to online competitors. Other places have lower opening minimum deposit requirements, but not by much.
Considering you can open an account online — much like the banks on our list of the best CD rates — these CDs are worth a look.
First National Bank of America’s money market account option
How First National Bank of America’s money market account compares
It’s pretty neat that this money market account gives you unlimited withdrawals, ATM access and check-writing capabilities, but the rates aren’t stellar.
Although the highest tier does offer a fairly competitive rate, it requires a much higher minimum deposit amount compared to the ones on our list of the best money market rates. If you don’t have that much cash lying around, you may be better off looking elsewhere.
First National Bank of America’s IRA account options
How First National Bank of America’s IRA CD rates compare
We’re happy to say that these are on par with some of the best offerings on our list of the best IRA CD rates. Unfortunately, it won’t be as convenient to open an account if you don’t live near one of its branches, so an online option may be a better choice for you.
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