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First National Bank of America Online CD rates review

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First National Bank of America Online CDs
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1-year APY
3-year APY
5-year APY
Our verdict

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.

In this guide

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  • Ask an expert'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

How do I open a First National Bank of America Online CDs account?

Apply for a CD in nine steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the home page, click Open Now, then click Open Now again at the Certificates of Deposit page.
  3. When you’re done reading the agreement and disclosures, select the checkbox and click Continue.
  4. Select the CDs you want to open. Then click Continue.
  5. Enter your funding information and click Continue.
  6. Review your application and click Submit to apply, verifying your identity through the security questions.
  7. Once your application is sent, click Return to Home.
  8. Click View or Upload Documents to attach a photo of the IDs for each applicant.
  9. Log out and First National Bank of America will contact you through your email within one business day.


You must meet the following requirements to open a CD:

  • At least 18 years old
  • US citizen or resident
  • Valid Social Security number or Taxpayer ID
  • Valid US home address
  • $1,000 minimum deposit

Required information

Have the following information ready before you apply:

  • Social Security number
  • Name, address and phone number
  • Date of birth
  • Driver’s license or ID card
  • Employment information, including gross monthly income
  • Bank account and routing numbers

Funding options

The only way you can fund your CD is through an ACH bank transfer.

2 benefits of a First National Bank of America CD

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:

  1. Variety of available terms. You can choose between 12-, 24-, 36-, 48-, 60-, 72- and 84-month terms.
  2. Competitive rates. At 4.4% APY for a one-year term, FNBA offers higher interest than many of its competitors for shorter terms.

3 potential drawbacks

Keep the following limitations in mind before you apply:

  1. Limited branch locations. FNBA has three bank locations in Michigan, but you can apply for a CD online.
  2. Relatively high minimum. You need $1,000 minimum to open a CD. There are other CDs on the market that require $250, $500 or even $0.
  3. No short terms. The shortest term you can get with FNBA is one year.

Compare with other CDs

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Bread Savings CDs
Finder Rating: 3.8 / 5: ★★★★★
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
Pacific Western 7-Month High Yield CD through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Pacific Western 7-Month High Yield CD through Raisin
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
Earn competitive rates up to 5.35% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
Get 5.51% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Quontic Bank CD
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.

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.

First National Bank of America Online CDs reviews and complaints

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.

How do I cash out a CD?

When your CD has reached maturity, you have a 10-day grace period to decide between the following options:

  • Roll your CD into a new term at the rate currently offered.
  • Withdraw a part of your CD and roll the remainder into a new term at the rate currently offered.
  • Withdraw all of the funds in the CD.

If you take no action, your entire CD will automatically roll over for the same term at the rate offered at the time.

How do I get in touch with FNBA customer service?”

You can contact the bank for questions on your online account in four ways:

CDs ratings

★★★★★ — 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.

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