First National Bank
First National Bank
CDs APY Range
First National Bank offers a variety of checking accounts with manageable fees and low minimums, making it attractive to customers seeking convenient banking solutions. Their services provide easy methods to avoid excessive charges, enhancing overall customer satisfaction.
However, the bank falls short in terms of annual percentage yields, as they offer relatively low rates for most accounts, which might deter customers seeking higher returns on their savings. Moreover, the ATM network is limited, potentially inconveniencing users who rely heavily on ATM access.
Established in February 1864 and headquartered in Greenville, Pennsylvania, First National Bank has grown to encompass 338 branches across 8 states. Pennsylvania, North Carolina, Maryland, Ohio, and South Carolina house the majority of these branches. We've picked First National Bank as one of the best in Pennsylvania.
Pros & Cons
Here are the main pros and cons of First National Bank:
Many branches in Pennsylvania, North Carolina, Maryland, Ohio and South Carolina
Active in 7 states
Competitive CD rates
Low savings rates
Variety checking accounts
Limited Free ATM network
Savings Accounts: Low Rates
FirstRate Savings is an easy and simple way to save money, offering a tiered interest rate and immediate access to funds. The APY is quite low – only 0.05% on your balance, far from what you can get on high-yield savings accounts. The interest compounds quarterly, ensuring steady growth of savings.
To avoid the $5 monthly service charge, a minimum average daily balance of $500 is required. Opening the account at an FNB branch has no minimum deposit requirement, while online account opening demands a $50 minimum deposit.
$5 Can be waived if you maintain a minimum daily balance of $500
The account provides convenient online access, including free paper and online statements, a complimentary Visa® debit card with various payment options, and free deposits through various channels.
CDs: Decent Rates But High Minimum
First National Bank offers a range of certificates of deposit (CDs) with terms available from 3 to 60 months. However, regular CDs without the “special” or “promotional” label come with unattractive low rates. Here you can compare CD rates for 6 months with other banks.
To access the promotional APY, customers must fulfill certain conditions: make a minimum opening deposit of $10,000, not currently held in an FNB account, and have an existing First National Bank consumer or business checking account or open a new one.
First National Bank CDs
The special CDs offer two different terms: 7 months and 13 months. They provide a fixed interest rate for the CD's duration, with interest compounded and paid monthly.
Customers have the flexibility to choose how they want to receive the interest—either credited back to the CD, paid by check, or credited to another FNB account.
Checking Accounts For Every Need
First National Bank offers a diverse range of checking accounts, each catering to different customer needs.
- The eStyle Account is a checkless option that helps avoid overdraft fees, and customers can waive the service fee by setting up direct deposit and initiating five transactions monthly. Monthly service fee is $5.
- The eStyle Plus Account provides interest on balances up to $2,500, with no overdraft fees and no paper checks. The monthly service fee is $25 ($1,000 minimum balance to waive it)
- Freestyle Checking is simple, with no monthly service charge, unlimited check writing, and no minimum balance requirements. However, check orders are not free.
- Lifestyle Checking offers interest earnings on balances above $2,500, and customers can avoid the monthly fee by maintaining at least $1,000. It has added perks, including a free FNB Custom Checks first order and a free 3″ x 5″ safe deposit box. The monthly service fee is $10 ($1,000 minimum balance to waive it).
- The Premier style Checking Account is ideal for high-tier benefits, offering interest on balances of $1,000 or more, with higher rates for higher balances. This account comes with various free benefits, such as a safe deposit box, overdraft protection, eStatements or paper statements, incoming domestic wire transfers, stop payments, custom checks, and financial analysis review. Customers can also avoid non-FNB ATM fees and receive up to $15 in ATM fee refunds. Monthly service fee is $25 ($7,500 minimum balance to waive it).
First National Bank offers a comprehensive range of lending products to meet various financial needs:
Personal Loans: These are unsecured loans that can be used for various purposes, such as debt consolidation, home improvements, or unexpected expenses. The loan is repaid in fixed installments over a set period.
Lines of Credit: A line of credit allows customers to borrow funds up to a predetermined limit. They can use the funds as needed and only pay interest on the amount borrowed.
Personal Credit Cards: First National Bank offers credit cards for personal use, providing a revolving line of credit with various benefits and rewards.
Student Loans: These loans are designed to help students finance their education. They often have favorable terms and flexible repayment options.
Home Equity Loans: Homeowners can borrow against the equity in their homes, receiving a lump sum and repaying it in fixed installments.
Home Equity Line of Credit: Homeowners can access a line of credit based on the equity in their home. They can draw funds as needed and repay with flexible terms.
Mortgages: First National Bank offers mortgage options for buying a new home or refinancing an existing mortgage.
Vehicle Loans: Customers can secure financing for various vehicles, including automobiles and boats/yachts.