American national bank – Exclusive 2022 Review

American National bank, with an asset of $4 billion and $3 billion deposits, is ranked as a large bank. It has headquarters in Nebraska and Omaha.

However, this traditional brick-and-mortar bank provides services at its physical location and does not offer any all-day telephone or live chat service. 

It offers a complete set of products that include 

  • Savings Accounts 
  • Checking accounts
  • Money market accounts 
  • Certificate of deposits 
  • IRA CDs 
  • Specialty saving accounts 
  • Mortgages 
  • Credit cards. 

It provides fairly good savings rates, though you may find better savings rates.

However, if you want hassle-free online banking, it does not cost you a monthly account maintenance fee.

It provides you a maximum income from your deposits through a high-interest rate and free checking.

American National Bank Review And Products
American National Bank Review And Products

Summary

BankAmerican National Bank
Rating 4.6
Saving rate0.70%
Monthly Fees$3.21
Savings Accounts Opening Fess$50
WebsiteClick Here

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Overview

Overview
Overview

Saving rates

The National average saving rate is $0.09. However, the interest rate of the American National Bank is 0.15%.

The CDs account for the term of 1 year earned at 0.70%, and for five years, the interest rate is 1.70%. The savings rate of a money market account is 0.35%.

Monthly fee

American National Bank does not charge any monthly account maintenance fee.

However, the national average monthly account maintenance fee is almost $3.21. Moreover, it also does not reimburse any out-of-network ATM fees.

So, if you do not want to pay this fee, you will need to locate the ATM of ANB. 

FDIC insurance 

The American national bank is FDIC insured, so your deposits up to the maximum allowed, i.e., $250,000, are insured even if the bank fails. 


Products and their APY rates

Products and their APY rates
Products and their APY rates
  •  The current terms and rates of American National Bank checking accounts are 0.11% and require only $1 as the minimum balance
  •  The current terms and rates of American National Bank savings accounts are 0.15% and require $100 as the minimum balance
  • There are different tiers from 12 months to 60 months for CD accounts. The APY rate for 12 months is 0.70%, for 24 months it is 1.20%, 1.40%for 36 months, 1.55 for 48 months and 1.70% APY for 60 months. However, the minimum account balance for all the tiers is $10,000. 
  •  The current terms and rates of American National Bank Money Market accounts are 0.28% for the minimum account balance of $1,000 and 0.35% APY for the account balance of $15,000. 

American National Bank features

Following are the features of American National Bank:

  • You need to have a minimum $100 amount for opening an account
  • You will get charged $15 on a monthly basis
  • Various interest rates depend on balance

Checking Accounts

Checking Accounts
Checking Accounts
Minimum Opening balance $50
Monthly charges $0
Other bank ATMs 3 waivers per month 
Check writing Unlimited 

All checking accounts provide the opportunity of online and mobile banking to its consumers.

It also provides free email alerts, text messages, and eStatements. Moreover, it also provides a 24/7 telephone banking service.

You can deposit your resources through mobile banking. Moreover, it also allows you to make online purchases through Google Pay, Apple Pay, and Samsung Pay.

Checking accounts instantly issues the visa debit cards. 


Saving accounts 

Saving accounts 
Saving accounts 

The American National Bank savings account provides you an opportunity to save an emergency fund for a rainy day, and you can get additional benefits from the youth saving accounts. 

ACCOUNTEasy SaveEasy Save PlusUTMA Easy Save
DescriptionA savings account helps you make savings easily. Savings account for consumers under 18 or over 60A savings account that allows Uniform Transfers to Minors Act
Monthly Account Maintenance Fee$5 (waivable on maintaining a minimum $200 balance)N/AN/A
Interest YesYesYes
Minimum Account Opening Balance$50$10$100
Open OnlineOnline account opening service available Online account opening service available Service not available for UTMA  

Money market account 

Money market account 
Money market account 

Money market accounts provide you the opportunity to earn at comparatively flexible rates.

Moreover, it also provides you with six withdrawals a month without any charge. 

ACCOUNT Money Market Premium Money Market 
DescriptionA Competitive money market account at American National Bank A money market account that provides a high interest
Monthly account maintenance fee$15 (Waivable on maintaining a $2,500 daily balance)$20 (waivable on maintaining a $25,000 daily balance)
Interest rate Tiered Tiered 
Minimum Account Opening Amount$500$25,000

CDs and IRAs 

CDs and IRAs 
CDs and IRAs 

Certificate of deposits and Individual Retirement Accounts provide you an opportunity to make savings.

It also does not charge any penalty and provides maturity options. 

ProductCDsIRAs CDs 
Description With a fixed rate, grow your savingsTake advantage of tax advantages to maximize your savings
Minimum account opening amount $500$500
Penalty No penalty No penalty 
Tier terms 3 -5 year maturity 3 -5 year maturity 

There are 2 IRA options that provide tax advantages to your deposits. 

  • Roth IRAs
  • Traditional IRAs 

Your contributions may be tax-deductible with traditional IRA, and hence with this account. 

You don’t pay tax on distributions in the case of Roth IRA. Hence your contributions are tax-deductible. 


Specialty saving accounts 

Specialty saving accounts
Specialty saving accounts

The American National bank helps you build your credit through the Christmas easy saving, ReStart Saving, and Health saving account to meet the saving needs for events and occasions. 

ACCOUNTChristmas Easy SaveReStart SavingsHealth Savings Account (HSA)
DescriptionHelps you save for Christmas Restart Loan proceeds from AMNBUsing a high-deductible insurance account to your advantage
Monthly account maintenance fee N/AN/A$2.25
InterestPaid annually in November Paid quarterlyPaid quarterly
Minimum Account Opening Amount$10$3,000N/A
Miscellaneous Just two free withdrawals a year afterward $10 fee.Contributions are tax-deductible,Include HSA debit card included

What differentiates American National Bank from others?

Here are the facts that differentiate American National Bank from others:

  • You get certificates of deposits that range from 1 week to 5 years
  • With a connected checking account, you get offered special interest rates
  • It offers non-interest-bearing and interest-bearing options

Our experience with American National Bank

It has an interest rate of 0.15%, and I had my saving account here.

The monthly $15 fees pinched me sometimes because most bank in the US doesn’t cut any fee from your account.

Overall my experience with American National Bank has been normal. I would give 3.5 stars to this bank.


American National Bank Comparison

American National Bank Comparison
American National Bank Comparison

Let’s compare it with other similar services:

American National Bank vs. National Bank of Arizona

You need to have a minimum $100 deposit amount to open your account in American National Bank, and you will get charged $15 monthly fees.

But in Bank of Arizona, you don’t have minimum balance requirements, and you won’t get charged any fee every month. 

Read National Bank of Arizona

American National Bank vs. First National Bank

You will have access to the loan balance, and you can make loan payments while using First National Bank.

In American National Bank, you will get different interest rates based on the amount you have in your account. 

Read First National Bank

American National Bank vs. Peoples Security Bank & Trust

Peoples Security Bank & Trust offers personal and business banking services.

So, whether you want to get a convenient service in a business or a personal bank, this bank will entertain you.

This is not the case with American National Bank. Their banking style is quite different from this one.  


Frequently asked questions 

What Are The Customer Service Hours For The American National Bank?

The customer service hours from Monday to Friday are 7 am to 7 pm. On Saturday, it’s 8 am to 1 pm. However, it does not provide a 24/7 telephone or live chat service. 

Is American National Bank FDIC Insured?

FDIC insurance is the best way to protect your money in a bank. American National bank is an FDIC-insured bank that provides security to your deposits to the maximum amount allowed. 

How Large Is The American National Bank?

American National bank, with an asset of $4 billion and $3 billion deposits, is ranked as a large bank and is headquartered in Nebraska and Omaha,

NPC Overall Rating

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