First National Bank CD Rates for 2024

First National Bank CD rates are near rock-bottom for most of its CD products, but certain "special" terms have APYs that can compete with the best CDs on the market. While these special CDs have requirements -- like a First National Bank checking account -- they might be worthwhile for existing First National Bank clients.

If you're looking to earn high interest on your savings, find out if First National Bank CDs are right for your money in this expert review.

First National Bank has decent rates for some of its special CDs, but its standard CDs are shockingly low. For comparison, here's how the bank stacks up against other CD providers.

First National Bank has several kinds of certificates of deposit (CDs). Below, we'll delve deeper into its two most popular certificates of deposit: its standard CDs and its special offers.

First National Bank Standard CDs

First National Bank's standard CD terms range from three to 60 months and require a minimum deposit of only $500. Interest earned on your CD will compound and be credited to your account quarterly. Better yet, First National Bank can even pay this interest to you before your CD matures, either at a check or as a deposit into another First National Bank account.

Although First National Banks are pretty easy going, their annual percentage yields (APYs) are nothing to get excited about. No matter what CD term you select, your rate remains pretty low and not at all competitive. Considering that the best CDs currently boast APYs five times higher than these, your savings are likely better off with another CD product.

First National Bank Special CDs

First National Bank offers a variety of "special" CD terms. These CDs have higher APYs than the bank's standard offerings, though they also have higher minimums, too. For example, its 7-month special CD has a 5.20% APY, but requires a $10,000 minimum balance. Likewise, its 13-month special CD has a 5.00% APY but requires $5,000 to snag that special rate. The rest of its special CDs have significantly lower APYs, with minimum balances required of $5,000.

In addition to the minimum deposit, these CDs require you to open a First National Bank consumer or business checking account. If you already have a checking account with this bank, you may need new money to meet the minimum requirement for a CD. For example, if you have $10,000 in your First National Bank checking account, you might need another $10,000 to open a 7-month CD.

Both the 7-month and 13-month terms have competitive APYs. But don't think you have to bank with First National Bank to snag these rates. You can find higher APYs and lower minimum balances for comparable terms at other banks or on the financial marketplace Raisin.

Other First National Bank CD accounts

First National Bank also offers the following CD accounts:

• Flex Certificate of Deposit
• IRA Certificate of Deposit
• Savers Goal Certificate of Deposit

A First National Bank CD might be right for you if:

• You live in one of the seven states (or Washington D.C.) where First National Bank operates.
• You want to lock into a special rate CD
• You already bank at First National and want to have all your deposit accounts there.

• First National Bank Review

Our CDs methodology

At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how The Motley Fool Ascent rates bank accounts.