American Federal Bank offers a good selection of account options for various people. To find out if American Federal Bank is right for you, continue reading the review below.
They encourage employees or businesses to bank with them because of their American Advantage Checking account and you can even earn discount if you have a personal American Federal personal checking account.
See our best bank bonuses updated daily to earn up to $1,000 in free money. Find popular checking offers such as Chase Bank, HSBC Bank, TD Bank, Huntington Bank, BBVA, Discover Bank, and CIT Bank. See our best rates for Savings and CD too.
|Chase Business Checking $300 Bonus||Chase Private Client $2,000 Bonus|
|Chase Total Checking® $200 Bonus||Chase SavingsSM $150 Bonus|
|HSBC Premier Checking $450 Bonus||HSBC Premier Checking Up To $600|
|HSBC Advance Checking $200 Bonus||HSBC Advance Checking Up To $240|
|TD Bank Premier Checking $300 Bonus||TD Bank Convenience Checking $150 Bonus|
|Huntington 25 Checking $500 Bonus||Huntington 5 Checking $200 Bonus|
|Huntington Asterisk-Free Checking $150 Bonus||Huntington Unlimited Plus Business Checking $750 Bonus|
|Huntington Unlimited Business Checking $400 Bonus||Huntington Business Checking 100 $200 Bonus|
|Axos Basic Business Checking $100 Bonus||Aspiration Spend & Save Account $100 Bonus|
Table of Contents
- 1 Checking Account Options
- 2 Compare Checking Accounts
- 3 Savings Account Options
- 4 Compare Savings Accounts
- 5 CD Account Options
- 6 Compare CD Accounts
- 7 Reasons to Bank with American Federal Bank
- 8 Reasons Not to Bank with American Federal Bank
- 9 American Federal Bank Routing Number
- 10 Contact Customer Service
- 11 How American Federal Bank Compares
- 12 Bottom Line
Checking Account Options
American Federal Bank offers a large selection checking accounts with various benefits.
You might have to contact American Federal in order to find out their opening deposits.
Their checking accounts come with the standard features that most accounts have.
There are no monthly fees nor minimum balance requirements that come with this checking account.
This interest bearing account starts earning interest on balances of $1,000 or more.
There are no monthly fees either.
A senior checking account that earns tiered interest rates on all balances.
There is a smaller monthly fee of $5, but you can waive it if you sign up for eStatements or have a daily balance of $1,000.
This checking account is ideal for those tend to keep higher than average balances.
You can earn tiered interest rates on balances of $500 or more.
There are no monthly fees to worry about either.
A high yield interest bearing checking account that earns variable tiered interest rates.
The interest is compounded monthly.
You can also waive the monthly fee if you maintain a daily balance of $2,500.
A checking account that benefits employees of businesses that bank with American Federal.
This account earns interest on balances of $1,000 or more.
Employees can also receive various discounts on other services such as loans or CDs.
There are no monthly fees as well.
For those who have a HDHP.
You will need to maintain a daily balance of $2,500 in order to earn interest. This account earns variable interest rates.
Keeping the $2,500 daily balance also waives the monthly fee.
Compare Checking Accounts
Open your Asterisk-Free Checking® account today and enjoy:
• $150 bonus by making total deposits of at least $1,000 within 60 days of account opening.
• Free to open and free to maintain with no monthly maintenance fees
• 24-Hour Grace Overdraft Relief
• All Day DepositSM
• Enjoy mobile & online banking
Savings Account Options
American Federal Bank has a decent selection of savings accounts that all have varying opening deposits and minimum balance requirements.
A standard savings account that earns variable interest rates on all balances.
There are is no monthly fee if you can keep a daily balance of $300.
The monthly fee can also be waived if you are 19 or under.
A senior savings account that can be opened with $100.
You can put money towards retirement without having to worry about a monthly fee.
You can use this account the same time as your personal savings account. With this account, a specific dollar amount can be transferred so you can save for anything you desire.
Compare Savings Accounts
Open a Discover Online Savings Account for all these features:
• Earn high interest rate of 0.60% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
See advertiser website for full details
• Enjoy a $150 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 20 business days, and maintain a $10,000 balance for 90 days
• Access to 16,000 Chase ATMs and nearly 4,900 branches
• Link this account to your Chase checking account for Overdraft Protection.
• Chase Mobile® app – Manage your accounts, deposit checks, transfer money and more — all from your device.
• Open your account online now.
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
With the American Express® High Yield Savings Account:
• Earn 0.60% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• No monthly fees, no minimum balance.
• 24/7 Account Access
CD Account Options
American Federal Bank offers CDs that earn really high, competitive interest rates. You can open each CD with $1,000.
These terms are available from 91 days to 60 months. To view rates and other information, click here.
The CDs will also automatically renew upon maturity.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 0.25% APY up to 0.80% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn 0.30% APY on a 12-Month CD Term
• Earn up to 0.50% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
With the BBVA CD:
• Earn up to 0.20% APY with just a $500 minimum deposit
• The perfect balance between a great fixed rate and flexible money access.
• Access funds, if needed. No penalty.
• No opening or maintenance fees
• Shorter 11-month timeframe and a great APY
• If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.
Reasons to Bank with American Federal Bank
- Provides a large variety of checking accounts.
- Their Health savings account is actually a checking and savings account.
- No monthly fees on most of their checking and savings accounts.
- The American Advantage checking account is designed for employees and businesses.
- Has a senior savings account that is specifically for retirement.
- Their savings and money market accounts earn a pretty high APY.
- Conduct all your banking online or with the American Federal Bank mobile app.
Reasons Not to Bank with American Federal Bank
- They are only located in Minnesota and North Dakota with 13 branches in total.
- Doesn’t display opening deposits for checking accounts on their website.
- Lacking a student checking or savings account.
American Federal Bank Routing Number
The routing number for American Federal Bank varies based on regions or locations. To find your routing number, check the lower left hand corner of your American Federal Bank check.
Contact Customer Service
You can fill out a request form to acquire more information on American Federal’s website.
Their business hours are based on locations so you can also check their website for when they are open.
How American Federal Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is also an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
If you live in Minnesota and North Dakota and are interested in a large selection of checking accounts, then American Federal Bank has some unique accounts that might interest you.
Although they have a lot of checking account, the lack of information concerning opening deposits can be annoying when you want to open a checking account online. In this case, American Federal encourages you to visit them at a physical branch.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If American Federal Bank has the variety and options you’re looking for, apply today! For more options from a variety of banks, see our list of the best bank promotions!