OMB Bank Review 2025: Checking, Savings and CDs
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Overall institution rating
4.2
OMB Bank is a community bank based in Springfield, Missouri, that offers accounts with competitive rates or rewards to digital banking customers nationwide. The online-only OMB Online High Interest Savings Account has a stellar rate of 4.56% annual percentage yield on all balances and there’s no monthly fee. But there is a steep opening minimum deposit requirement of $5,000.
The bank offers several types of rewards checking accounts, which can either earn interest, stocks or cash back on purchases. Early direct deposits and same-day transfers via Zelle are available. There are no monthly fees on any of these accounts. OMB Bank’s certificate of deposit specials have competitive rates, including a 4.25% APY on a one-year term. (Compare with the best CD rates.)
Nearly all CDs have a low opening minimum deposit of $1,000, except for the one-year CD special which requires at least $10,000. The interest and cash-back rewards checking accounts have low opening minimums of $25, but getting rewards is dependent on satisfying three monthly requirements: Receiving electronic statements, making a dozen debit card transactions and receiving at least one direct deposit or other automated monthly payment.
The bank provides free access to the national ATM network MoneyPass as well as a handful of branches in Missouri. Live chat and phone support hours are limited to weekdays. (Note: This page covers only consumer accounts.)
Best for: Online consumers who want a high-yield savings account or CD and tend to have high balances.
» COMPARE: Check out NerdWallet's best high-yield savings accounts
- No monthly fees.
- Competitive rates on some savings and CDs.
- Large, free, nationwide ATM network.
- Competitive rewards checking accounts.
- Expensive overdraft fee.
- Low rates on some CDs.
- High minimum opening deposit on savings account.
- Limited customer support phone hours.
How does OMB Bank compare?
Up to 3.80%
Up to $300
4.10%
N/A
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). The ratings are incremented in tenths of a star.