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.

3.00%$1k-First National Bank of America84 Month CD
2.95%$1k-First National Bank of America72 Month CD
2.90%$1k-First National Bank of America60 Month CD
Rates as of July 23, 2019.

The 60-month CD is available as an IRA (Traditional and Roth), earning the same APY with the same funding requirements. The 72- and 84-month CDs are not offered as IRAs.

FNBA also offers Flex CDs, which “allow for a one-time rate increase during the term of the account.” While the 72- and 84-month terms are not available as a Flex CD, the 60-month is, but with a lower APY of 3.25%.

2.85%$1k-First National Bank of America60 Month Flex CD
Rates as of July 23, 2019.

The Truth-in-Savings document is not available on FNBA’s website. A very helpful and knowledgeable CD Specialist provided the following:

  • The Early Withdrawal Penalty for the 60-, 72- and 84-month CDs is 540 days interest on the amount withdrawn, with partial withdrawals permitted.
  • 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. 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.

Thanks to DA reader, rockies, for the Forum post about First National Bank of America.


Headquartered in East Lansing, Michigan, First National Bank of America offers 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.

CSR pointed out that 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 insure 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 26.71% (average), based on December 31, 2018 data. In the past year, FNBA has increased its total non-brokered deposits by $81.74 million, an excellent annual growth rate of 15.52%. 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 seventh largest bank, with $1.8 billion in assets and more than 24,400 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-four 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 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, all of First National Bank of America’s long-term CD APYs currently rank first.

The above rates are accurate as of 4/24/2019.

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

RonPaul   |     |   Comment #1
EWP is way too high
Paul   |     |   Comment #7
What is ewp?
willy12   |     |   Comment #9
early withdrawal penalty.
max100   |     |   Comment #2
great bank great cs very good rate .
Dennis   |     |   Comment #3
Best customer service I've received in years!
!fine   |     |   Comment #4
I have to say that the reviews for FNBA seem suspect. All but one 5 star review were added within about a single week. I supose it's possible, but highly unlikely, that the reviewers were not coordinated.
Sylvia   |     |   Comment #17
Good catch, !fine (#4). Based on your comment, I checked the posting histories of all 5-star reviewers. Fourteen out of 16 total reviews awarded FNBA 5-stars. Thirteen of the 14 were dated between 10/31/18 and 11/9/18. The user names for each of those 13 reviews had identical posting histories: 1 forum thread, 1 forum post. None apparently posted anything else under their user names save for their 5-star review of FNBA. A highly unlikely coincidence, and not a positive reflection of FNBA's ethics, I'd say.
nyc75   |     |   Comment #5
"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."

Never heard of a bank that could not transfer maturing CD proceeds to a savings/checking account held with it. Why is this an issue for this bank? Isn't this the most basic thing?
Carpline   |     |   Comment #6
I was told that FNBA only opens checking/savings accounts locally and not online (no out-of-state customers).
FNBA   |     |   Comment #14
Thanks for your feedback, we are always looking for ways to improve our banking services. We are happy to ACH proceeds to the customer's existing checking account or savings account of their choosing. We are also currently working on broadening the products available online to include a savings account.
pwj7050   |     |   Comment #16
I was told the exact opposite by one of your CSR’s. I was told the only way maturing CD funds could be returned to me was via a mailed check or a wire transfer. BTW, I am a California resident if that affects your reply.
FNBA   |     |   Comment #18
We clarified the ACH method to return funds after seeing the comments posted here. We are not aware of any reason your location in California would affect our ability to ACH funds back to you.
???   |     |   Comment #15
ACH to Outside Funding Chk or Sav ??
FNBA   |     |   Comment #19
We will ACH to a checking or savings account at another bank.
???   |     |   Comment #20
Great thank you very much
willy12   |     |   Comment #10
A local credit union where I am a member has a 5 year at 3.35%. I just have a hard time going 5 years at that rate. (Id rather take my chances with a high dividend paying stock or fund)
pwj7050   |     |   Comment #11
I don’t understand why this bank will not allow out of state customers to open a savings account which would be used to receive maturing CD funds which could then be withdrawn through an ACH debit from another bank.

I’m sick of these ridiculous policies that some of these banks have.

Because of this restriction, I declined opening a CD with them.
Rjengs   |     |   Comment #12
A pretty good deal compared to many offers from better known "commercials".
Svensk   |     |   Comment #13
B rating! No thanks! Community Financial Services Bank KY has a 49 month CD ($1000 min) at 3.39% APY with two bump ups. Have seen nothing better on this blog. Available nationwide Monthly interest can be posted to a checking or savings and moved elsewhere if one desires. Best to leave the interest in place and watch it grow!! Customer service is over the top...
AnnO   |     |   Comment #21
Ken posted about those rates in Nov 2018, and reposted a few days after your comment to add that as of Apr 2019, they are no longer accepting applications from outside of a few states.

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