nbkc bank Review of Deposit Rates

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Updated on Thursday, October 1, 2020

nbkc bank’s personal checking account

nbkc’s personal checking account provides a competitive interest rate, unlimited transactions and no hidden fees.

APY

Minimum deposit amount

0.65%

$5

  • Monthly account maintenance fee: None
  • ATM fee: No fee if you use any of the 32,000+ MoneyPass® ATMs in the U.S. For out-of-network ATMs, the fee may vary but nbkc will refund up to $12 in ATM fees each month.
  • ATM fee refund: Up to $12 monthly refunds for ATM fees other banks charge you.
  • Overdraft fee: $0

This checking account has no minimum balance requirement and needs just a small deposit to get started. Account holders will pay absolutely nothing to take advantage of features like eStatements, talking to a rep on the phone, ordering checks (first book of 120 checks are free, then $18 fee), a debit card, or online banking and bill pay.

On top of that, a competitive APY is offered on all balances, making this a great option to store savings as well without having to worry about exceeding a monthly transaction limit.

The only fees you might incur is if you’re sending or receiving wire transfers. It doesn’t cost anything to receive a domestic wire, but there are two other fees detailed below.

  • $5 to send a domestic wire anywhere in the U.S.
  • $45 to send or receive international wire transfers

This personal account would be great for someone who’s looking to earn interest with a checking account and avoid costly bank and ATM fees.

How to get nbkc bank’s personal account

Applying for an nbkc personal bank account is simple and you can do it online. Just go to their website and click on the drop-down menu on the far right corner at the top of the page. Click on “Personal” under the “Open Account” heading. Then, click on “Open Personal Account.”

In order to complete the online application, you’ll need your Social Security number, valid driver’s license or state ID, and you must be at least 18 years old and a U.S. citizen or resident alien.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

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How nbkc bank’s checking account compares

When compared with some of the other top checking accounts, nbkc’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 isn’t the only bank offering a competitive interest rate with a low minimum deposit.

nbkc bank’s money market account

Personal Money Market Savings

nbkc bank’s money market account acts as a personal savings account and rewards you with a generous interest rate.

APY

Minimum balance amount

0.80% APY

$0.01 - $1,000,000

0.80% APY

$1,000,000.01+

  • Monthly account maintenance fee: $0
  • ATM fee: No fee if you use any of the 32,000+ MoneyPass® ATMs in the U.S. For out-of-network ATMs, the fee may vary but nbkc will refund up to $12 in ATM fees each month.
  • ATM fee refund: Up to $12 monthly refunds for ATM fees other banks charge you.
  • Excessive withdrawals fee: None
  • Overdraft fee: $0

nbkc describes their money market account as a “no gotcha” savings that pays even more interest. It’s very similar to the personal checking account in that it has virtually little to no fees. It also offers the first box of 120 checks free; after, it’s $18.

The only difference is that you can earn much more interest on your money given the higher rate and there is a limit of six debit transactions you can make per month. Although there is no fee when withdrawing over the limit, withdrawing excessively may lead to the bank changing your account into a personal checking account.

In order to earn the rates mentioned above, you can have as little as a penny in your account so you don’t have to worry about meeting high minimum balance requirements. This account would be a great option for someone who’s looking for a simple savings account with no balance requirements and a competitive interest rate.

How to get nbkc bank’s Personal Money Market Savings account

Applying for a nbkc money market account is simple and you can do it online. Just go to their website and click on the drop-down menu on the far right corner at the top of the page. Click on “Personal” under the “Open Account” heading. Then, click on “Open Money Market Savings.”

In order to complete the online application, you’ll need your Social Security number, valid driver’s license or state ID, and you must be at least 18 years old and a U.S. citizen or resident alien.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

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How nbkc bank’s money market account compares

When compared with other money market accounts, nbkc’s interest rate actually comes in a bit low. That fact that they don’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.

nbkc bank’s CD Rates

Personal CDs

A simple, yet basic personal CD solution that is not one of our favorites.

Term

APY

3 months

0.05%

6 months

0.40%

7 Month Special (CD Only)

1.97%

12 months

0.65%

12-Month Special (CD Only)

2.02%

14-Month Special (CD Only)

2.22%

18-Month Special (CD Only)

2.27%

24 months

1.31%

36 months

1.61%

48 months

1.81%

60 months

2.12%

  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $0.01
  • Early withdrawal penalty: Varies. 3-6 months=90 days’ interest; 12 months=180 days’ interest; 24-36 months=360 days’ interest, 48-60 months= 540 day’s interest

nbkc bank offers flexible terms for personal CDs ranging from three months to five years. This might be ideal for someone who wants options in order to decide on a term or who would prefer a short-term savings plan for less than a year.

While their rates are not that great, you can open an account for as little as $1,000 and the only fee you’d have to worry about is an early withdrawal penalty. For 3- to 6-month CD, the penalty is 90 days’ interest; for a 12-month CD, the penalty is 180 days’ interest; for 24- and 36-month CDs, the penalty is 360 days’ interest, for 48- and 60-month CDs, the penalty is 540 days’ interest.

How to get nbkc bank’s CDs

In order to open a personal CD account, you need to contact them either by calling their main line: (816) 965-1400, toll-free number: (888) 905-2165 or by stopping in one of their branches.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

Add-to Starter CD

nbkc also offers a 12-month add-to-starter CD as a flexible way to automatically increase your savings.

Term

APY

12 months

0.65%

  • Minimum opening deposit: $25
  • Minimum balance amount to earn APY: $0.01
  • Early withdrawal penalty: 180 days’ interest

With nbkc’s add-to CD product, account holders can increase the balance for their CD or CD IRA during the first year by adding money to it. The benefit is that once you open a CD with the bank, you can add to it consistently, starting with just $25.

From there, you can set up a $25+ automatic deposit from your nbkc checking account. This account would be best for someone who wants to work toward a savings goal, like preparing for a down payment on a house.

How to get nbkc bank’s Add-to Starter CD

In order to get an add-to starter CD, you need to first have a CD account with nbkc, then contact them either by calling their main line: (816) 965-1400, toll free number: (888) 905-2165 or by stopping in one of their branches.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

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How nbkc bank’s CD rates compare

nbkc’s personal CDs leave a lot to be desired when compared with other banks’ CD products.

While it’s nice that the bank offers CD terms that are less than 12 months, it won’t really do consumers much good since the interest rate is so low. If you’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.

nbkc bank’s Personal Health Savings Account

nbkc allows you to save for medical expenses while earning a guaranteed amount of interest.

APY

Minimum balance amount

0.60%

$0.01 - $1,000,000.00

0.60%

$1,000,000.01+

  • Minimum opening deposit: $0
  • Monthly account maintenance fee: None
  • ATM fee: No fee if you use any of the 32,000+ MoneyPass® ATMs in the U.S. For out-of-network ATMs, the fee may vary but nbkc will refund up to $12 in ATM fees each month.
  • ATM fee refund: Up to $12 in ATM fees each month.
  • Overdraft fee: $0

A Health Savings Account or (HSA) is a savings account that people with a high-deductible health insurance policy can use to save money tax-free for qualifying medical expenses.

nbkc offers an average interest rate for this account compared with their other personal accounts. It’s higher than what you can earn with a personal checking account but you can get a better APY with their money market account.

How to get nbkc bank’s Personal Health Savings Account

To open a personal Health Savings Account with nbkc, you need to contact the bank either by calling their main line: (816) 965-1400, toll-free number: (888) 905-2165 or by stopping in one of their branches.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

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How nbkc bank’s health savings account compares

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, it’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 don’t have hundreds or thousands to deposit into your HSA right off the bat and you want to earn interest, nbkc’s Health Savings account is a good option.

nbkc bank’s IRA account options

IRA CD Rates

Personal IRA CDs

This account is basically a copycat of nbkc’s personal CD, only you can use it to save for your retirement with varying withdrawal terms.

Term

APY

3 months

0.05%

6 months

0.40%

7 Month Special (CD Only)

1.97%

12 months

0.65%

12-Month Special (CD Only)

2.02%

14-Month Special (CD Only)

2.22%

18-Month Special (CD Only)

2.27%

24 months

1.31%

36 months

1.61%

48 months

1.81%

60 months

2.12%

  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $0.01
  • Early withdrawal penalty: Varies. It depends on how much is withdrawn as well as the term.

nbkc’s IRA CDs have the same rates and minimum opening deposit requirements as their personal CDs. The only difference is that you can invest your IRA contributions.

There is no fee to transfer funds from another bank, and if applicable, you’re free in the clear to withdraw your designated required minimum distribution each year.

This would be a good option for someone looking to store their retirement savings for a shorter term whether it be six months or five years.

By holding your account at a bank like nbkc that’s backed by the FDIC, your funds will be protected by the U.S. government for up to $250,000.

How to get nbkc bank’s IRA CDs

To open a personal IRA CD, you need to contact the bank either by calling their main line: (816) 965-1400, toll free number: (888) 905-2165 or by stopping in one of their branches.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

Add-to Starter IRA CD

This account is a copycat of nbkc’s add-to starter CD, only with an IRA framework.

Term

APY

12 months

0.65%

  • Minimum opening deposit: $25
  • Minimum balance amount to earn APY: $0.01
  • Early withdrawal penalty: 180 days’ interest

nbkc’s add-to IRA CD product works just like the personal CD add-to account where you can contribute funds to your account over a 12-month period.

You just need $25 to get started and can set up automatic transfers of $25+ regularly. This would be a favorable option for someone looking to increase their retirement savings and grow their account at a steady, guaranteed interest rate.

However, the APY is quite low and if rates do increase, you won’t be able to take advantage of them while your term is still active.

How to get nbkc bank’s Add-to Starter IRA CD

In order to get an add-to starter IRA CD, you need to first have an IRA CD account with nbkc, then contact them either by calling their main line: (816) 965-1400, toll-free number: (888) 905-2165 or by stopping in one of their branches.

SEE DETAILS Secured

on nbkc bank’s secure website

Member FDIC

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How nbkc bank’s IRA CD rates compare

nbkc bank’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.

Overall review of nbkc bank’s products

We like that nbkc offers a wide variety of banking products, low minimum deposit requirements and hardly any hidden fees. It’s clear that this bank has fulfilled their mission of offering simple and straightforward solutions to customers. However, little information is readily available on their site about some of their accounts.

In terms of their personal checking account, being able to earn interest is also a worthy perk.

However, the APY for many of their other accounts, like the money market and their CDs, falls short compared with other banks. If you want to get more bang for your buck with a CD, IRA CD or personal IRA account, you should look elsewhere.

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