Get a competitive rate with no maintenance fees.
First National Bank of America CDs are ideal for anyone looking to invest long-term with competitive interest rates. Its terms range from one to seven years, offering a robust range for savings. And in terms of APYs, they're competitive across the board. A 3-year term for example offers an APY of 3.00%, with major competitors such as Marcus clocking in at 2.90% for the same term length. Meanwhile, some popular banks such as Chase offer 3-year CDs that cap out at 0.05% APY.
FNBA 3-year CD: $10,000 deposit x 3.00% = $10,927.27
Marcus 3-year CD: $10,000 deposit x 2.90% = $10,895.47
Chase 3-year CD: $10,000 deposit x 0.0% = $10,015.01
The downside to FNBA CDs is it doesn’t offer any terms shorter than one year. If you're looking for a short term option, you'll need to compare some of the other options available. And if you’re looking to open other personal bank accounts at FNBA, you’ll need to visit a Michigan branch to open.
finder.com's rating: 4.5 / 5.0
★★★★★
First National Bank of America is a Michigan-based community bank. They’re known for offering some of the highest CD rates. It’s highest rate tops at 4.6% APY for its 84-month term. It also offers a wide range of term options to choose from all available online. But it doesn’t offer any short terms under one year.
| Star rate | 4.5 |
| 1-year APY | 4.40% |
| 2-year APY | 4.60% |
| 3-year APY | 4.60% |
| 4-year APY | 4.65% |
| 5-year APY | 4.65% |
| 7-year APY | 4.60% |
| Early withdrawal penalty | 90 days interest for terms of 1 to 11 months 180 days interest for terms of 12 to 23 months 360 days interest for terms of 24 to 47 months 540 days interest for terms of 48 to 84 months |
| Minimum deposit to open | $1,000 |
| Interest compounding | Daily |
Apply for a CD in nine steps:
You must meet the following requirements to open a CD:
Have the following information ready before you apply:
The only way you can fund your CD is through an ACH bank transfer.
Like other CDs, your rate is locked and you won’t pay for any maintenance fees. You can look forward to the following benefits from your CD account:
Keep the following limitations in mind before you apply:
If you’re just starting out and aren’t sure if you’re ready to commit for longer than a year, you’ll want to keep looking. As always, compare your options when considering a CD.
There aren’t any customer reviews of FNBA CDs available on social media. The bank is rated A+ with the Better Business Bureau and has been accredited since 2017. First National Bank of America is rated 4.46 out of 5 on Trustpilot.
When your CD has reached maturity, you have a 10-day grace period to decide between the following options:
If you take no action, your entire CD will automatically roll over for the same term at the rate offered at the time.
You can contact the bank for questions on your online account in four ways:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.
Read the full methodology of how we rate CDs.
First National Bank of America Online CDs is not currently available on Finder
Have you considered Bread Savings CDs?
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
Heather Finder
Staff writer
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