first national bank of scotia

First National Bank of Scotia is the bank that offers superior personalized service and it’s dedicated to doing that. This independently-owned bank did its financial activities for generations. This is the ultimate pillar of providing the best financial service and product with flexibility.

The First National Bank comes with different services for families and businesses in the community. Now, people of some specific regions know what this bank can do.

We can explain more about this bank. Keep reading, we’ve discussed its product, customer services, rates, and many more in this review.

Picture: 1st National Bank of Scotia
Picture: 1st National Bank of Scotia

What Is The First National Bank of Scotia?

The history of the First National Bank of Scotia began in1923 because of a group of local businessmen. They formed a bank in a village named Scotia with only three employees.

After a few times, they moved to another place and introduced “Auto Banking” in 1948. In 1965, they officially changed their bank name and announced it as First National Bank of Scotia.

Now it has $463 million in assets and $422 million in deposits. They offer different types of products for their customers like savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products, credit cards, and many more.

As a medium-sized bank, this one still operates its activities independently.

Picture: Branch of 1st National Bank of Scotia
Picture: Branch of 1st National Bank of Scotia

About FNB of Scotia:

You might need some key information to evaluate this bank for your money management. We picked some information for you and here it is.

Company Size51 – 200 employees
HeadquartersScotia, NY
TypePrivately Held
SpecialistPersonal & Business Banking, Commercial Lending, Residential Mortgage, Auto & Home Loans, Investment Services, and Insurance Services

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What Are The Product Types of FNB of Scotia?

Offered products and services help to measure the success rate of a bank. Even people can easily find the best money management plan from a product chart of the First National Bank that is also rich in this sector.

They know which types of products we need. Based on the research, they develop a few different services and products and merge with other regular products.

Here is the list of their product and service that a customer can easily avail of.

Personal Banking:


  • Checking
  • Savings
  • CDs & IRAs
  • Deposits Services
  • Other Services


  • Mortgage
  • Home Equity
  • Auto, Boat & Personal
  • Credit Cards

Online Services

  • Online Banking
  • Mobile Banking
  • Mobile Wallet

Business Banking:


  • Checking
  • Other Services


  • Business Loans
  • Credit Cards

Online Services

  • Cash Management
  • Remote Deposit


Consumer Alert

  • Protecting Your Finances
  • Common Fraud Schemes
  • Cyber Security for Small
  • Business
  • Online Banking
  • Best Practices
  • Safe Mobile Banking
  • Deposit Insurance Estimator
  • Identity Theft
  • Avoiding Cashier’s
  • Check Fraud


  • Savings
  • Loan
  • Mortgage
  • Retirement


  • CD interest
  • Home Equity Loans
  • Mortgage Rates
  • Personal Loans
  • Personal Savings Interest
  • Vehicles Interest
Picture: Homepage of 1st National Bank of Scotia website
Picture: Homepage of 1st National Bank of Scotia website

What Types of Rate Do do They Offer For Their Financial Product?

Offering different services and financial products is not the last thing for a financial institute. They also need to focus on the rate as well.

Customers always want the best rate that ensures better returns in terms of the time value of money. FNB of Scotia also offers some competitive rates for their products and these are.

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Account0.1% APY$50
Checking Account0.05% APY$500
Certificates of Deposit12 Months: 0.60% APY 24 Months: 1.00% APY 36 Months: 1.23% APY 48 Months: 1.30% APY 60 Months: 1.45% APY$500 for all terms
Money Market Accounts0.15% APY 0.15% APY$10000 $15000

Now you can see their rates and return polity for products like checking accounts, money market accounts, CDs, Savings accounts. You can choose the best option that suits your financial goal.

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If you compare the rate of all the products of this bank with the national average, then you’ll find that the National Bank of Scotia’s Rate is fair enough.

Comparison of The Rate:

If a bank offers the best rate for their product with better service then, the bank will get trust sooner than another one.

In the case of FNB of Scotia, this bank offers 0.10% of their savings whereas the national average is 0.09%. Compared with other banks in the USA, this rate is poor.

On the other hand, for the CDs, especially for one-year and five-year length programs, the earning rate is 0.60% and 1.15%. Compared with the national average, this rate is much better.

What About Fees?

Every bank imposes some fees on their customer for the given service. The charges and fees of First National Bank are lower than the national average.

This bank charges only $1.00 per month for checking the account. It’s surprisingly lower than the national average. This charge is perfect for those who just want to keep their account checked all the time.

Besides the charges for out-of-network ATMs is nil where the national average is $1.20. There is even no overdraft fee as well.

FNB Bank of ScotiaNational Average
Monthly Fee ($1.00)$3.21
Non-network ATM Fee (N/A)$1.20
Overdraft Fee (N/A)$35

Service Quality of FNB of Scotia:

Now, come to the main point and this is the service quality of this Bank. This bank continues its operations through 10 branches in different locations.  To offer a flexible service, this bank also offers web and mobile apps.  Here is the rating for the overall services given below.

Overall Mobile Rating3.3/5
Consumer Satisfaction Rating5.0/5
Online Banking PortalNo
Live ChatNo
Picture: Homepage of 1st National Bank of Scotia website
Picture: Homepage of 1st National Bank of Scotia website


Every bank comes with some special values and First National Bank of Scotia follows has the same thing but in different ways. This independently-owned bank set a milestone for the growth and success of our customers.

They are committed to serving people and the communities. They treat all the customers like their family. That’s why their all products and rates are very much attractive for the people who really want a hassle-free banking experience.

Undoubtedly, for money management, FNB of Scotia is the best choice. It’s another name for reliability and creative financial solutions. They pay attention to every client individually. That’s how they made the history of honesty and set the highest standard of integrity.

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