First National Bank of America CDs Still Available Nationwide


Availability: 60-month CD, 1.00% APY, $1k minimum/$1m maximum deposit.

Availability: Nationwide through online application

While the 60-month CD (1.00% APY) offered by Michigan-based First National Bank of America (FNBA) has recently been hanging out toward the bottom of the 5-year CD category in DA’s CD Rate Summary, FNBA’s CDs (short-term and long-term) offered some of the best nationally available rates in the past year. All FNBA CDs require a minimum $1k opening deposit and are capped at $1 million.

1.20%$1k-First National Bank of America60 Month CD
Rates as of October 19, 2021.

While the 60-month CD is available as an IRA (Traditional and Roth), earning the same APY with the same deposit requirements, it can only be opened in-branch.

The 60-month CD is also offered as a Flex CD that “allows for a one-time rate increase during the term of the account.” The 60-month Flex CD currently earns 0.95% APY.

The following information comes from FNBA’s FAQs page and a conversation with a very knowledgeable FNBA CD Specialist.

  • The Early Withdrawal Penalty for CDs with terms of 48-84 months is 540 days interest on the amount withdrawn, with partial withdrawals permitted.
  • CD interest rates are set at account opening.
  • Only “personal” CDs can be opened online – no business, trusts, estates, power of attorneys, custodial accounts, health savings accounts, or individual retirement accounts.
  • Up to four beneficiaries can be named on the online application, but more can be added by phone. Social Security numbers for beneficiaries are not required. Primary beneficiaries (one or two) and contingent beneficiaries (one or two) can be named. Beneficiaries can also be assigned equal shares.
  • Funding can only be done through an ACH transfer from a checking or savings account. There is a limit of $250k per each online application.
  • The standard method of distributing maturing funds is a cashier’s check, although a wire transfer is possible. A transfer of funds to an FNBA checking or savings accounts is not possible for those customers who live outside the Bank’s Michigan market area.


Headquartered in East Lansing, Michigan, First National Bank of America continues to offer its CDs on a nationwide basis to US citizens and alien residents possessing a valid Social Security number.

Opening an FNBA CD can be done online, or at any of three Michigan branches located in East Lansing, Kalamazoo, and Traverse City. There is no mention of any COVID-19 related branch restrictions on FNBA’s website.

The last page of the online application requires a copy of your government-issued ID be uploaded. Having the ID available in a digital format will help ensure your online application won’t time out. Following the submission of a completed online application, the Bank will contact you to finalize the application.

Bank Overview

First National Bank of America has an overall health grade of "B+" at, with a Texas Ratio of 17.84% (above average), based on September 30, 2020 data. In the past year, FNBA has increased its total non-brokered deposits by $365.28 million, an excellent annual growth rate of 38.34%. Please refer to our financial overview of First National Bank of America (FDIC Certificate # 17438) for more details.

Established in 1955 as the First National Bank of East Lansing, First National Bank of America is currently Michigan’s sixth largest bank, with $2.8 billion in assets and more than 37,000 customer accounts. The Bank re-branded as First National Bank of Michigan in 1978 and as First National Bank of America in 1998. (FYI – the “First National Bank of Michigan” brand was recycled in 2006, when a Kalamazoo bank opened using the name.) Sixty-six years after opening its doors for business, FNBA is still a private, family-owned company offering traditional banking services and mortgages, with a subsidiary company involved in the note buying industry.

How the CDs Compare

When compared to 177 nationally available similar length-of-term CDs tracked by that require a similar minimum deposit and are offered by both credit unions and banks, First National Bank of America’s 60-month CD APY currently ranks eighth. When compared to only nationally available CDs offered by banks, First National Bank of America’s 60-month CD APY currently ranks first.

The above rates are accurate as of 1/29/2021.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Traverse City CD rates, Lansing CD rates, Grand Rapids CD rates, 5-year CD rates, nationwide deals

First National Bank of America 12-Month CD Offers 2.45% APY
Availability: 12-23 month CD, 2.45% APY, $1k minimum deposit.

Availability: Nationwide

The 12-23 month CD offered by Michigan-based First National Bank of America (FNBA) has been included in DA’s bi-weekly CD Rates Summary for several months, always within reach of the rate leaders in the 1-year CD category. Following the recent rate attrition, the 12-23 month CD’s current 2.45% APY is now the highest nationally available 1-year CD rate offered by a bank.

The 12-23 month CD is available as an IRA (Traditional and Roth), earning the...

Continue Reading
First National Bank of America's Long-Term CDs Still Rate Leaders
Availability: CDs – 84-month (2.95% APY), 72-month (2.90% APY), 60-month (2.85% APY), $1k minimum deposit.

Availability: Nationwide

Four months ago, Michigan-based First National Bank of America (FNBA) had the top rates for nationally available long-term CDs. While the current rates for the 84-month (2.95% APY) and 72-month (2.90% APY) are now 60 and 55 bps lower, respectively, they still have the best rates in their term-length categories.

FNBA’s 60-month CD hasn’t fared quite as well: its APY was lowered by 50 bps (a commensurate drop), but its standing...

Continue Reading
First National Bank of America Leads With 60-Month CD, 3.35% APY
Availability: CDs – 60-month (3.35% APY), 72-month (3.45% APY), 84-month (3.55% APY), $1k minimum deposit.

Availability: Nationwide

Michigan-based First National Bank of America (FNBA) is currently offering top rates on its long-term CDs: 60-month (3.35% APY), 72-month (3.45% APY), and 84-month (3.55% APY). Any of these CDs can be opened with a $1k minimum deposit, with no stated balance cap.

The 60-month CD is available as an IRA (Traditional and Roth), earning the same APY with the same funding requirements. The 72- and...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.