Mutual of Omaha Bank Review 2022
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The Mutual Savings account earns the national average APY for balances at $100 or more and under $25,000. Balances of $25,000 or more earn a few basis points more than the national average APY.
Interest is compounded daily, but no interest is earned on balances under $100.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
All of the bank’s CDs are available as IRA CDs, so consider whether they might fit into your retirement strategy.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Other interest bearing options from Mutual of Omaha Bank include Advantage Checking, Investment Checking and Platinum Checking. These accounts are not available in every state.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Mutual of Omaha BankMutual of Omaha Bank Review 2020
Mary Wisniewski is a banking editor for Bankrate. She oversees editorial coverage of savings and mobile banking articles as well as personal finance courses. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.2 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Mutual of Omaha Bank is worth considering if you are looking for a place to park your short-term savings goals. However, CIT Bank is expected to acquire the regional bank. If you get an account with the bank now, expect a new parent company in 2020.Highlights
Top CD Rates Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Mutual of Omaha Bank, which is now owned by CIT Group, offers certificates of deposits, savings, money market and checking accounts.Pros
Offers an assortment of CDs. Provides digital money management tools. Lets you open interest-bearing checking account online.Cons
You can find higher yields elsewhere. There are restrictions for where you can open CDs and savings accounts. Smaller ATM network than other institutions.Mutual of Omaha Bank bank products
Savings CD Money Market Checking 2.7 Bankrate ScoreMutual of Omaha Bank savings overview
The Mutual Savings is only available in Arizona, California, Colorado, Florida, Kansas, Nebraska, Nevada or Texas.The Mutual Savings account earns the national average APY for balances at $100 or more and under $25,000. Balances of $25,000 or more earn a few basis points more than the national average APY.
Interest is compounded daily, but no interest is earned on balances under $100.
Pros
Interest compounds daily.Cons
You don’t earn any interest on balances under $100. You need at least $25,000 to earn the top APY on the Mutual Savings account. The Mutual Savings account is only slightly higher than the national average. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 4.0 Bankrate ScoreMutual of Omaha Bank CD overview
At Mutual of Omaha Bank, there’s no shortage of CDs to choose from, with terms ranging from one month to five years. Multiple CD promotions are available, too. Earned interest can be added to the principal balance in your CD or moved to another account managed by the bank.All of the bank’s CDs are available as IRA CDs, so consider whether they might fit into your retirement strategy.
Pros
Interest is compounded daily. The minimum opening deposit is relatively low.Cons
CDs can only be purchased in a branch. Other banks pay higher yields. New customers don’t have access to non-traditional CDs. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 3.3 Bankrate ScoreMutual of Omaha Bank money market overview
The Money Market account offers an APY that’s a little more than eight times the national average. It offers check-writing privileges and a free order of checks. The Money Market account can be opened nationwide, but you’re only able to open the Premier Money Market account in a branch.Pros
The Money Market account offers check-writing privileges. Free checks are provided for the Money Market account. The Money Market account earns a little more than eight times the national average. The Money Market can be opened nationwide.Cons
You only earn interest — and avoid a monthly $10 fee — on balances $1,000 or higher. At least $250,000 needed in the Premier Money Market account to get the top APY. Both accounts have a $1,000 minimum opening deposit requirement. Average balance of $1,000 needed in to avoid the $10 monthly maintenance fee on both accounts. 2.8 Bankrate ScoreMutual of Omaha Bank checking overview
Online Advantage Checking is an interest-bearing checking option from Mutual of Omaha Bank. The account can be opened online with at least a $100 minimum deposit. Keeping at least $100 in the account allows you to avoid a $10 monthly maintenance fee. Balances of $1,500 or more earn interest that is equal to the standard savings account.Other interest bearing options from Mutual of Omaha Bank include Advantage Checking, Investment Checking and Platinum Checking. These accounts are not available in every state.
Pros
Accounts can be opened online. Free first order of preselected checks. Low balance to avoid monthly fee.Cons
Only balances of $1,500 or more earn interest. Fee charged to use ATMs outside of national network. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Mutual Bank of Omaha isn’t pushing the frontier of banking, but it provides the essentials. While the bank's app has only a handful of reviews in the app stores, the ratings are lower than other bank apps. Yet, you’ll still have access to basic features, like making check deposits with your camera or finding nearby ATMs. The bank also supports digital budgeting tools that are designed to help you manage your money. You can also link non-Mutual Bank of Omaha accounts to see your overall financial picture in one place.About Mutual of Omaha Bank
Mutual of Omaha is best known for its insurance and financial services, but it offers bank products through Mutual of Omaha Bank. Mutual of Omaha Bank offers a range of CDs, savings and checking accounts. The full-service bank is based in Omaha, Nebraska. In January, it had completed its acquisition of Mutual of Omaha Bank. In the coming months, Mutual of Omaha Bank will transition to the CIT brand. For now, customer accounts remain unchanged.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .