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City National Bank of Florida (FL) Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
City National Bank of Florida Savings
0.15% APY

Overview

Our Rating: 4.2/5 How we calculated this rating

City National Bank of Florida started in 1970 with headquarters located in Miami, Florida. It owns $10 billion in assets as well as deposits totaling $8 billion, classifying it as a large bank. City National Bank of Florida lacks premium access to support representatives, with no options of live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Our testers rated City National Bank of Florida a 4.2 stars out of 5, City National Bank of Florida should be solidly in contention for your choice of bank. 

City National Bank of Florida has a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, City National Bank of Florida offers an option without a maintenance or monthly fee. Why use checking and savings accounts with one bank? Seamless transferring of funds between both accounts means you can still get better interest rates in your savings account but still access your money from your checking.

Service Quality

City National Bank of Florida is a brick-and-mortar bank, with 44 total bank locations in Florida. With mobile and web apps, City National Bank of Florida makes mobile banking convenient, even on the go.  

City National Bank of Florida's online and mobile banking platforms receive high praise from users: the City National Bank of Florida mobile app has been given a 4.5 out of 5 (with 130 reviews on iOS and Android) compared to the national average of 3.8. City National Bank of Florida's mobile app lets you manage your finances by reviewing monthly statements, sending and receiving funds as well as reaching support representatives. City National Bank of Florida gets a superb consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.15% APY $1 Compare Offers
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.55% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.05% APY
  • 60 Month: 1.25% APY
$1,000 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.10% APY $1 Compare Offers
Checking Accounts 0.02% APY $1 Compare Offers

City National Bank of Florida has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, providing you with many options to manage your money. It does not have the best savings rate, which means you should consider other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. City National Bank of Florida's CD rates are fair in comparison to the average U.S. bank.

Rates

City National Bank of Florida has a savings rate of 0.15%, which is fair in comparison to the average U.S. bank. Its one-year CD has a rate of 0.20% and the five-year CD earns at a rate of 1.25%, while its highest-yielding money market account has an APY of 0.10%. Given its poor savings rate, you should contemplate taking a look at other banks for savings accounts.

Compare City National Bank of Florida to Other Competitive Offers

Fees

City National Bank of Florida has generally extremely low fees compared to other U.S. banks. With no monthly fee, City National Bank of Florida is perfect for people who want a basic banking experience. For those who will need cash in a pinch, it is good because it has an ATM fee of $1.25, which is good as compared against the national average. Also, at $33, City National Bank of Florida's overdraft fee is significantly lower than the average overdraft fee charged by U.S. banks. 

Financial Health

City National Bank of Florida is currently a large bank owning assets totaling $10 billion as well as $8 billion in deposits. Its Texas Ratio is 2.04%, denoting that the bank is in terrific financial well-being and extremely unlikely to fail. Additionally, City National Bank of Florida is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a City National Bank of Florida Near Me

City National Bank of Florida has 44 physical branches across the U.S.

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