Applied Bank VS Mutual of Omaha

Which bank is better for you?

  • Financial Rates: 1.0 Star Icon
  • Customer Service: 3.5 Star Icon
  • Website Experience: 3.0 Star Icon
  • Bank Fees: 3.5 Star Icon
0.02%APY
Savings/MMA
Advertiser Disclosure
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: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
Advertiser Disclosure
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Low opening requires amounts
  • Variety of accounts offered
  • Online accounts available in all states
  • Rates not tiered for online accounts

Cons:

  • Accounts have a monthly fee
  • Some accounts only offered in few states
  • Not all accounts offer competitive rates
  • Competitive rates require a large sum
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.

Mutual of Omaha Review

To open Mutual of Omaha Bank accounts requires low amounts. The online checking account only requires $100 to open. The other checking accounts require from $100 to $1,000 depending on the account. The savings and money market accounts require $100 or $1,000. The online money market requires $1,000 to open.

Mutual of Omaha Bank offers a variety of personal deposit and business accounts. They offer six personal checking accounts. A basic savings account and two money market accounts are offered. CD terms vary from 1-month to 60-months; fixed rates and standard rate CDs offered.

Mutual of Omaha Bank offers an online checking and money market account. The online checking account only requires $100 to open. There is not a monthly fee if your balance is above $100. Balances over $1,500 earn interest. The money market account requires $1,000 to open, waive the fee, and earn interest. These accounts are available in all states.

To earn the most competitive rates for the online accounts does not require a large sum. The online money market account only requires $1,000 to earn the best rate. The online checking requires $1,500. Amounts over $250,000 earn much lower rates.

Mutual of Omaha Bank checking and savings accounts have monthly fees. Those fees range from $3 to $15 depending on the account. Waive the fees by keeping a set balance in the account. Those balances range from $100 to $10,000 depending on the account.

Not all accounts are available in all states. Mutual of Omaha limits the accounts to specific states. The online money market and checking account are available in all states. Most accounts must be opened at a branch location.

Not all Mutual of Omaha Bank accounts offer competitive rates. The online accounts offer rates competitive with other online accounts. The CDs and other accounts offered through branch locations are not as competitive. The rates may change based on the state you open the account in.

To earn the most competitive interest rates requires a large sum. The Mutual of Omaha Bank money market account requires $250,000 to earn the highest rate. The investment checking requires $50,000.

Read the full Mutual of Omaha review.

Sponsored Offers
From Our Partners

Advertiser Disclosure
Sponsored Offers
American Express
Savings (Rate as of 11/9/2024)
APY 4.00%
Rate 3.92%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Jenius Bank
Savings (Rate as of 11/9/2024)
APY 4.80%
Rate 4.69%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC No fees. Easy deposits and quick withdrawals.
Next >
Openbank
Savings (Rate as of 11/9/2024)
APY 5.25%
Rate 5.25%
Min to Open $500
Min to Earn APY $500
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Forbright Bank
Savings (Rate as of 11/9/2024)
APY 5.00%
Rate 5.00%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC No account fees, unlimited transfers, better for the planet
Next >
Capital One
Savings (Rate as of 11/9/2024)
APY 4.00%
Rate 4.00%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC It only takes about 5 minutes to open a fee-free account.
Next >
EverBank
Savings (Rate as of 11/9/2024)
APY 4.75%
Rate 4.64%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC No monthly maintenance fee, $0 to open, easily grow your money
Next >
Western Alliance Bank
Savings (Rate as of 11/9/2024)
APY 4.46%
Rate 4.46%
Min to Open $500
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Barclays
Savings (Rate as of 11/9/2024)
APY 4.50%
Rate 4.50%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC $200 Bonus w/ Tiered Savings Account and Qualifying Activities
Next >
BMO Alto
Savings (Rate as of 11/9/2024)
APY 4.60%
Rate 4.50%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Sallie Mae
MMA (Rate as of 11/9/2024)
APY 4.20%
Rate 4.11%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook Yes
Member FDIC
Next >
Poppy Bank
Savings (Rate as of 11/9/2024)
APY 5.00%
Rate 4.88%
Min to Open $1,000
Min to Earn APY $1,000
Monthly Fee $5.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >
Betterment
Savings (Rate as of 11/9/2024)
APY 4.75%
Rate 4.75%
Min to Open $10
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
FDIC insured at program banks† var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank
Next >
Sallie Mae
Savings (Rate as of 11/9/2024)
APY 4.20%
Rate 4.11%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC
Next >