When compared with some of the other top checking accounts, nbkcâ€™s personal account is a strong contender.
Their interest rate is not the highest, but some of the banks with higher interest rates require a much higher minimum deposit when opening an account.
However, nbkc isnâ€™t the only bank offering a competitive interest rate with a low minimum deposit.
When compared with other money market accounts, nbkcâ€™s interest rate actually comes in a bit low. That fact that they donâ€™t really have a minimum balance requirement to obtain the APY, helps the account stand out from others.
Another trend noticed among the top money market accounts is that they allow account holders to write checks. nbkc offers checks with this account.
nbkcâ€™s personal CDs leave a lot to be desired when compared with other banksâ€™ CD products.
While itâ€™s nice that the bank offers CD terms that are less than 12 months, it wonâ€™t really do consumers much good since the interest rate is so low. If youâ€™re looking for a CD with a term less than 12 months, you will earn some interest using nbkc, but it will probably compare to what an online savings account can offer.
The interest increases as you increase your term, but it still falls flat compared with other banks. Many banks also have a lower minimum deposit amount as well making their CDs an all around better option than what nbkc offers.
Like many of their other products, nbkc offers a standard interest rate for their Health Savings Account. While it is competitive and more than what most other banks offer, itâ€™s not the highest rate on the market right now.
While a few other banks and credit unions may offer a higher interest rate, they also have higher account minimums while nbkc offers a $0 minimum opening balance.
If you donâ€™t have hundreds or thousands to deposit into your HSA right off the bat and you want to earn interest, nbkcâ€™s Health Savings account is a good option.
nbkc bankâ€™s personal IRA CDs definitely comes in on the low end when compared with other IRA CD products.
The APY is much lower than other banks but one of the perks is that you can start adding to your IRA CD with just a small amount of money. Other banks also have lower minimum deposit requirements and offer higher rates so it best to shop around.
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