At a glance

Overview

First National Bank of America (FNBA) opened in 1955 as First National Bank of East Lansing. It is an especially solid choice for consumers who prefer a community bank and live within the bank's branch footprint in Michigan. But customers across the U.S. can access competitive annual percentage yields (APYs) on its certificates of deposit (CDs) and checking account and manage their money through an extensive ATM network and online and mobile banking.

Highlights:

Top CD Rates

Highlights:

Top CD Rates

4.0

Bankrate Score

CDs

4.1 /5

Checking

4.6 /5

Savings

2.9 /5

First National Bank of America pros and cons

Pros

FNBA pays competitive yields on its CDs and checking account.
It offers access to over 55,000 ATMs across the U.S.
It offers online and mobile banking through its highly rated mobile app.

Cons

Its three branches are all in Michigan.
Some online banks offer higher savings yields.

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First National Bank of America banking products

First National Bank of America High Yield Savings

2.9

/5

See methodology Compare top savings rates

Pros

Above-average APYs.
Easy to fund via FNBA's app and in-person.

Cons

$10 monthly fee if you don't maintain a minimum balance.
$250,000 minimum to receive the highest APY.
Higher yields available at other online banks.

We reviewed FNBA's High Yield Savings account, which offers a tiered APY. While all APYs are above the national average, you need to maintain an average daily balance of a whopping $250,000 to receive the best APY. Plus, to avoid a $10 service fee, you must keep your average daily balance above $1,000. Other online banks offer higher savings yields with fewer hurdles to clear.

FNBA also offers two other savings accounts, including a health savings account, but they can only be opened in person.

First National Bank of America CD

4.1

/5

See methodology Compare top CD rates

SCORE BREAKDOWN

APY offering:

4.05%

4/5

Minimum deposit:

$1,000.00

4/5

Range of term lengths:

3 mos – 6 yrs

5/5

Early withdrawal penalty:

Average

3/5

Offer no-penalty or bump-up CDs:

No

0/5

Offer IRA CDs:

Yes

5/5

Pros

Competitive yields across all terms.
14 term options.
Roth and Traditional IRA CDs also available.

Cons

You can find a lower minimum deposit elsewhere.
Early withdrawal penalties are much stiffer for longer-term CDs.

FNBA offers competitive APYs on an unusually wide array of CD terms — from three months up to 10 years. Its $1,000 minimum deposit requirement is typical for the industry, but you can find lower requirements at competitors.

However, FNBA's early withdrawal penalties are steep. For example, you'll forfeit 540 days of interest on a five-year term, compared to 365 days' worth at Bank of America or Bread Savings.

Editor insight

FNBA's CDs are a solid option if you're confident you won't need to withdraw cash early. If you need more liquidity but still want a fixed yield, look for a no-penalty CD elsewhere (FNBA doesn't offer one).

— Pippin Wilbers, Bankrate editor

Rate history for FNBA's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

First National Bank of America

APY

National average APY

Term length

How do we get this data?

Learn more: Bankrate’s best CD rates

First National Bank of America Elevate Checking

4.6

/5

See methodology Compare top checking rates

Pros

Highly competitive APY if you meet requirements.

Cons

Multiple requirements to receive the competitive APY.
Lower APYs for balances above $20,000.

The Elevate Checking account's APY is highly competitive — but actually earning it is a bit complicated. Each month, you'll need to deposit at least $1,000 in new money, make 10 or more debit transactions and sign in to your account via online or mobile banking at least once. If you don't meet these requirements, or your average daily balance drops below $1,000, your APY drops to rock bottom.

Also important: Elevate Checking's APY is tiered. Your first $20,000 earns the highest rate (and will keep doing so even as your balance grows), but balances above and beyond $20,000 earn less interest.

While FNBA offers several other checking account options, they can only be opened in-branch.

Learn more: Bankrate's best checking accounts

How First National Bank of America compares to other banks

Compare different account types offered by First National Bank of America. Annual percentage yields (APYs) shown were updated between Feb. 22, 2026 and Feb. 28, 2026.

Selected bank First National Bank of America savings account Member FDIC Bankrate score Rating: 2.9 stars out of 5 2.9 Bankrate Savings rating = 2.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable TD Bank savings account Member FDIC Bankrate score Rating: 2.9 stars out of 5 2.9 Bankrate Savings rating = 2.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 22, 2026 and Feb. 28, 2026.
2.25%	0.02%
Minimum balance for APY
$0.00	$0.00
Estimated earnings Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,125	$10

First National Bank of America's High Yield Savings account offers tiered APYs, with balances of $250,000 or higher getting the best rate. To avoid the $10 monthly service fee, you must maintain an average daily balance of at least $10,000.	TD Bank’s Simple Savings account won’t do much to grow your savings, as it offers a very low APY. There isn’t a minimum deposit requirement, but customers will need to shell out $5 per month on a monthly fee, though there are a few ways to waive it.

All APYs are above the national average. Deposit money via FNBA's app and in-person.	There isn’t a minimum deposit requirement. The monthly fee is easily waived.	N/A
Waivable $10 monthly service fee. $250,000 minimum to receive the highest APY. Higher yields available elsewhere with fewer requirements.	The Simple Savings account earns a near rock-bottom yield. There’s a monthly service fee.	N/A

Selected bank First National Bank of America CD Member FDIC Bankrate score Rating: 4.1 stars out of 5 4.1 Bankrate CD rating = 4.1/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable E*TRADE from Morgan Stanley CD Member FDIC Bankrate score Rating: 4.1 stars out of 5 4.1 Bankrate CD rating = 4.1/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 22, 2026 and Feb. 28, 2026.
4.05%	4.10%
Minimum deposit
$1,000.00	$0.00
Term
7 mos	1 yr

First National Bank of America offers a wide range of CDs, including a 10-year CD. Yields vary, but most First National Bank CDs earn solid to high APYs. At least $1,000 is required to open a CD.	E*Trade from Morgan Stanley offers some of the best CD rates on the market, especially for terms of one year or less. Unlike most competitors offering similarly high rates, it doesn't have a minimum deposit requirement. But its early withdrawal penalties can be hefty (for example, 270 days' worth of interest on a three-year term).

The $1,000 deposit requirement is reasonable. Depending on the term, yields can be competitive. There’s a large range of options available. IRA CDs are available.	Competitive yield on all CD terms. No minimum balance requirement.	N/A
No specialty CDs, like no-penalty or bump-up CDs. High withdrawal penalties, especially on longer terms.	7-day grace period to withdraw funds. Hefty early withdrawal penalties. No specialty CD options.	N/A

APY offering: 4.05% - 7 mos 4/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $1,000.00 4/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 3 mos - 6 yrs 5/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Average 3/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: No 0/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: Yes 5/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY offering: 4.10% - 1 yr 4/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $0.00 5/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 6 mos - 5 yrs 3/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: No 0/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: No 0/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. The minimum deposit amount a financial institution requires in order to open a CD. A designated amount of time that funds must be held within a CD. A penalty incurred when funds have been withdrawn from a CD before its maturity date. A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. An IRA account which consists of CDs that typically earns fixed interest over a specified period of time. Bankrate does not currently track additional product details for this bank.

Selected bank First National Bank of America checking account Member FDIC Bankrate score Rating: 4.6 stars out of 5 4.6 Bankrate Checking rating = 4.6/5 Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score.	Most comparable Connexus Credit Union checking account NCUA Insured Bankrate score Rating: 4.6 stars out of 5 4.6 Bankrate Checking rating = 4.6/5 Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Checking rating Bankrate scores are objectively determined by our editorial team. Minimum balances to avoid monthly service fees, whether the bank has a monthly service fee, minimum opening deposit requirements, fees to use out-of-network ATMs and overdraft fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Feb. 22, 2026 and Feb. 28, 2026.
4.50%	0.00%
Minimum balance to open
$1,000.00	$0.00

The Elevate Checking Account earns a highly competitive APY if you meet the monthly requirements. These include depositing at least $1,000 in new money, making 10 or more debit transactions, logging in to online banking and keeping your average daily balance above $1,000. The baseline APY if you fail to meet these requirements is rock-bottom.	Connexus’ Innovative checking account doesn’t earn interest. It’s a basic account that comes with a debit card, digital banking and free overdraft transfers with linked accounts. The overdraft fee is $4 per overdrawn transaction, up to two per day. Customers have fee-free access to CO-OP and MoneyPass ATM networks.

Highly competitive APY if you meet requirements.	There is no monthly fee. Connexus members have access to more than 67,000 fee-free ATMs nationwide. There are free overdraft transfers with linked accounts.	N/A
Must meet several requirements to get the competitive APY. Funds above $20,000 earn at lower rates.	Connexus doesn’t reimburse fees charged by out-of-network ATM providers. There’s a $4 overdraft fee.	N/A

Learn more: Bankrate's best banks

Customer experience

Customer support

Branch availability: FNBA has three branches in Michigan, and belongs to the Allpoint national ATM network.

Customer service: Customers and potential customers can call a toll-free general inquiries line or one of the individual branches, or fill out an online message form. Customer service phone support hours aren’t listed on the bank’s website. The three branches aren't open weekends.

Digital experience

FNBA offers online and mobile banking, with a highly rated mobile app. While detailed information about its accounts is available on its website, finding it may take navigating among multiple pages.

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. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	First National Bank of America APY APY last updated 2/24/2026. APY last updated 2/24/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
12/02/2025	3.80%	--
04/04/2025	3.90%	--

First National Bank of America Review 2026

The Bankrate promise

At a glance

Overview

Highlights:

Highlights:

First National Bank of America pros and cons

Pros

Cons

We want to know what you think about First National Bank of America

First National Bank of America banking products

First National Bank of America High Yield Savings

Pros

Cons

First National Bank of America CD

Pros

Cons

Rate history for FNBA's CD accounts

First National Bank of America Elevate Checking

Pros

Cons

How First National Bank of America compares to other banks

Customer experience

Customer support

Digital experience

Review methodology

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