Northfield Bank (NJ/NY) Offers New Online CDs

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Deal Summary: 16-month CD, 2.10% APY, $2.5k minimum, must be opened online.

Availability: Online CDs are available to all residents of New York and New Jersey.

New York-based Northfield Bank is currently offering three Online CDs (9-month, 1.40% APY; 16-month, 2.10% APY; and 60-month, 2.50% APY). Of the three, the 16-month is the most competitive. The minimum opening deposit is $2.5k for any of the Online CDs, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.10%$2,500-Northfield Bank16 Month Online CD
Rates as of April 21, 2018.

According to CSR, the Early Withdrawal Penalty for the 16-month CD is six months interest or all interest earned, whichever is less.

Checking Bonus at New Great Kills Branch

Northfield Bank has recently opened a new branch location in the Evergreen Plaza on Staten Island. In celebration of this new office, Northfield Bank is offering a $250 bonus when opening a new MyChecking, MyChecking 60+, or MyChecking Student Account, and meeting the following requirements within 90 days of account opening.

  • Maintain a $500 average monthly balance
  • Have a monthly recurring direct deposit of at least $500
  • Perform 10 POS debit card transactions monthly

Availability

Headquartered on Staten Island, Northfield Bank’s online market area includes all of New Jersey and New York. The Bank's in-branch market area includes northern New Jersey, Staten Island, and Brooklyn.

As the name suggest, the Online CDs must be opened online. The Bank currently limits the number of products available online. CSR hinted that more products may be added to the online application in the future.

Northfield Bank also has 39 full-service branches located in northern New Jersey (18), Brooklyn (9), and Staten Island (12).

According to the online application,

You will need the account and routing number of the bank from which you are transferring
the funds along with a driver's license and social security number for each accountholder.

Bank Overview

Northfield Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.81% (excellent) based on September 30, 2017 data. In the past year, Northfield Bank has increased its total non-brokered deposits by $82.55 million, an excellent annual growth rate of 3.23%. Please refer to our financial overview of Northfield Bank (FDIC Certificate # 28710) for more details.

Northfield Bank was established in 1887 as the Northfield Building Loan and Savings Association, taking its name from the town where it was located. (One of the four original towns on Staten Island, the town of Northfield was dissolved in 1898 when Staten Island was consolidated into the City of New York.) A 2002 merger with Liberty Bank expanded the Bank’s footprint into New Jersey. In 2007, the Bank opened its first branch in Brooklyn, and rebranded as the Northfield Bank. In the past 40 years, the Bank has acquired or merged with twelve Staten Island and New Jersey financial institutions to become New York’s 25the largest bank, with assets in excess of $4 billion.

How the CD Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the market area, Northfield Bank’s 16-month CD APY currently ranks fourth.

The above rates are accurate as of 2/15/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: New York CD rates, Philadelphia CD rates, Syracuse CD rates, 1-year CD rates

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Northfield Bank (NJ/NY) Adds In-Branch 14-Month CD
Deal Summary: 14-month CD, 1.60% APY, $2.5k minimum, must be opened in-branch.

Availability: Market area includes Northern New Jersey and the greater NYC metropolitan area.

Earlier this summer, I wrote about Northfield Bank’s two new online CDs (13-month, 1.40% APY and 25-month, 1.65% APY). While the online CDs are still available, the Bank has just added a very competitive in-branch 14-month CD (1.60% APY). The minimum opening deposit is $2.5k, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for...

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Northfield Bank (NJ/NY) Adds Online CDs
Deal Summary: 13-month Online CD (1.40% APY), 25-month Online CD (1.65% APY), $2.5k minimum.

Availability: Can be opened only online by New Jersey and New York residents.

About a month ago, Northfield Bank added two new online CDs: 13-month Online CD (1.40% APY) and 25-month Online CD (1.65% APY). Of the two, the 13-month is the most competitive. The minimum opening deposit for either CD is $2.5k, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty for the 13-month...

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$150 Checking Account Bonus at Northfield Bank in NY & NJ - Local Only

Northfield Bank is offering a $150 bonus on its Really Free Checking Plus Account. To qualify for the reward, you must open a new Really Free Checking Plus Account. Also, within 90 calendar days of account opening, you must satisfy the following requirements:

  • initiate and receive a recurring direct deposit of at least $400 into your account
  • perform 5 signature based (when "credit" is chosen at checkout) debit card transactions. PIN or ATM transactions do not qualify
  • pay 3 bills online using Northfield's Free Online Banking and Bill Payment system
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Special 15-Month CD at Northfield Bank in NY & NJ - Local Only

Northfield Bank is offering a special 1.75% APY 15-month CD. Minimum deposit is $2,500. The bank continues to offer a competitive 5-year CD with a 3.25% APY which I reported on in April. These rates are listed in the bank's rates page as of 5/28/2010.

It appears that a branch visit is required to open an account. Branches are located in Staten Island and Brooklyn, New York and in New Jersey.

Northfield Bank's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial, 3 stars (performing) at Bankrate.com and...



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Competitive 5-Year CD Rate at Northfield Bank in NY & NJ - Local Only

Northfield Bank is offering a 3.25% APY 60-month certificate of deposit. Minimum deposit is $2,500. This rate is listed in the bank's rates page as of 4/25/2010.

It appears that a branch visit is required to open an account. Branches are located in Staten Island and Brooklyn, New York and in New Jersey.

Northfield Bank's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 3 stars (performing) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1983...



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