Applied Bank VS FNBO Direct

Which bank is better for you?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
0.10%APY
Savings/MMA
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of different personal accounts
  • Low opening required amounts
  • Checking and saving rates are not tiered
  • Business accounts offered

Cons:

  • Accounts have low-interest rates
  • Jumbo CDs do not offer higher rates
  • Accounts have monthly fees
  • High interest in MMA requires a large sum
  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
1.60%APY
Savings/MMA
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • No monthly fees or required amounts
  • Accounts offer competitive rates
  • Low opening balance
  • Any amount earns highest interest rate

Cons:

  • No business accounts available
  • Interest rates for CDs low
  • Limited personal deposit accounts
  • Savings account must be linked
Applied Bank Review

Applied Bank has a variety of different personal accounts. There are basic savings, checking, and money market accounts. Checking accounts for people over 50 are available. There are specific savings accounts for youth and specific goals like a vacation. CDs, loans, and credit cards are available through Applied Bank.

Most Applied Bank accounts have a low opening required amount. The savings and checking account requires $100 to open. The club savings account only requires $10 to open. The money market account requires $500 to avoid a fee and earn interest. The CDs require $1,000 to open. The checking account for those over 50 does not have required amounts.

The interest rates for Applied Bank checking and savings accounts are not tiered. The savings account only requires $100 to earn the most competitive rates. The Club Savings account only requires $10 to earn competitive rates. The checking account requires $1,000.

Applied Bank offers business accounts. They offer checking accounts, loans, and lines of credit for businesses. They also offer merchant processing options in select states. Online banking is available for business accounts.

Interest rates for Applied Bank accounts are low. The rates are similar to your typical brick and mortar bank rates. Even the CDs rates are low. The most competitive interest rates are the Club and youth saving accounts. Those rates are higher than the other savings account. They are still much lower than other online-only accounts.

Applied Bank offers jumbo CDs. These CDs require at least $95,000 to open. The interest rates for the jumbo CDs are not any higher than the regular CD interest rates. The jumbo CD terms range from six-months to five-years. Those CDs are available for businesses, nonprofits, and personal deposit accounts.

Applied Bank accounts have a monthly fee if you do not keep a minimum amount in the accounts. The amounts required to avoid the fee are low. The checking and savings accounts require $100. The money market requires $500. The monthly fee is $10 per account per month if minimum balances are not met. The only fees for CDs are for withdrawing money before the maturity date.

The highest interest rates for the Applied Bank money market account requires a large sum. To earn the most competitive rate requires $25,000 in the account. Amounts over $500 earn interest, just a much lower rate. Any amount over $25,000 earns the highest rate.

Read the full Applied Bank review.

FNBO Direct Review

The accounts offered through FNBO Direct do not have a monthly fee. There is not an amount required to keep in the account. There are no fees for not having that amount in the account each month.

FNBO Direct savings and checking accounts offer competitive interest rates. Those rates are competitive with other online-only accounts. They are much higher than your typical brick and mortar bank rates.

The amounts required to open FNBO Direct accounts is low. The savings and checking account only require $1 to open. The different CD terms all only require $500 to open. There is no set amount to keep in FNBO Direct accounts.

Any amount deposited in FNBO Direct accounts earns the highest interest rates offered. The interest is not adjusted based on the account balance. The minimum amount to open a savings and checking account is $1. Any amount over $0.01 earns the highest interest rate offered. The CD requires $500 to open.

There are no business accounts available through FNBO Direct. The only accounts offered are personal deposit accounts. There is a saving and checking account and different term lengths of CDs. The terms range from a six-month CD to a five-year CD.

The interest rates offered on the FNBO Direct CDs are lower than other online banks. They are not as competitive as FNBO Direct rates for their savings and checking accounts. Other online bank accounts offer more competitive interest rates for CDs.

There is a limited option of personal deposit accounts available through FNBO Direct. There is only one savings account, one checking account, and CDs. There are eight different CD term lengths. The terms range from six-month terms to a five-year term. There is no money market account offered.

The FNBO Direct savings account must be linked to a checking account. You must link an external account to transfer money electronically. You can link up to three external accounts.

Read the full FNBO Direct review.

Favorite Rates

CIT Bank
Savings 12/11/2018
APY 2.25%
Rate 2.23%
For APY $100
Monthly Fee $0.00
Checkbook No
$25k+ balance or $100+/month deposit for 2.25% APY. Member FDIC.
Learn More &
Open Account
Citizens Access
Savings 12/11/2018
APY 2.25%
Rate 2.23%
For APY $5,000
Monthly Fee $0.00
Checkbook No
$5,000 minimum balance to obtain APY. Absolutely no fees.
Learn More &
Open Account
State Farm Bank
MMA 12/11/2018
APY 2.10%
Intro Rate 2.08%
Intro Duration 12 Months
Post Intro 1.00%
For APY $0
Monthly Fee $10.00
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
Learn More &
Open Account
Barclays
Savings 12/11/2018
APY 2.05%
Rate 2.03%
For APY $0
Monthly Fee $0.00
Checkbook No
No Minimum Balance. No Monthly Maintenance Fees. FDIC Insured.
Learn More &
Open Account
Synchrony Bank
Savings 12/11/2018
APY 2.05%
Rate 2.03%
For APY $0
Monthly Fee $0.00
Checkbook No
Great Rates + Safety = Peace of Mind
Learn More &
Open Account
Ally Bank
Savings 12/11/2018
APY 2.00%
Rate 1.98%
For APY $0
Monthly Fee $0.00
Checkbook No
Open an Account Today. Ally Bank, Member FDIC.
Learn More &
Open Account
Capital One 360
MMA 12/11/2018
APY 2.00%
Rate 1.98%
For APY $10,000
Monthly Fee $0.00
Checkbook Yes
One of the Nation's Top Savings Rates - No Fees
Learn More &
Open Account
American Express National Bank
Savings 12/11/2018
APY 2.00%
Rate 1.98%
For APY $1
Monthly Fee $0.00
Checkbook No
Accounts offered by American Express National Bank. Member FDIC
Learn More &
Open Account
E*TRADE Bank
Savings 12/11/2018
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $10.00
Checkbook No
Make the most of your savings - higher rates & a whole lot more!
Learn More &
Open Account