Northpointe Bank Offers Competitive 12-Month And 24-Month CD Specials

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Availability: Nationwide

Michigan's Northpointe Bank is bidding farewell to Winter with two CD Specials: a 12-month CD (1.15% APY) and a 24-month CD (1.30% APY). The minimum opening deposit is $5K and there are no balance caps.

According to CSR, the Early Withdrawal Penalty is the same for both CDs: 90 days interest on the amount being withdrawn.

APYMINMAXINSTITUTIONPRODUCTDETAILS
5.00*%-$5kNorthpointe BankUltimate Checking
1.00%$1k-Northpointe Bank12 Month Fixed CD Special
Accounts mentioned in this post. Rates as of July 25, 2016.

UltimateAccount

In January, I wrote about Northpointe Bank’s new high-yield reward checking account, UltimateAccount. The details of this account are as follows:

Limitations:

  • 5.00% APY on balances up to $5K
  • 0.10% rate on portion of balance over $5K
  • 0.05% APY on entire balance if requirements are not met
  • ATM fee refunds of up to $10 per month
  • person-to-person payment (PopMoney) fee refunds of up to $3 per month

Qualifying Monthly Requirements:

  • 15 debit card purchases
  • Direct deposit or automatic withdrawal of $100 or more
  • eStatements

The UltimateAccount can be opened with a minimum deposit of $100, and there are no minimum balance requirements or monthly service fees after the account is opened.

Availability

Headquartered in Grand Rapids, Michigan, Northpointe Bank offers its services and product line to residents in all 50 states.

Opening an account can be done online, or at Northpointe Bank’s sole branch location. in Grand Rapids.

Bank Overview

Northpointe Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 16.88% (above average), as of December 31, 2014. In the past year, Northpointe Bank increased its total deposits by $57.8 Million, excellent annual growth rate of 21.9% growth rate. Please refer to our financial overview of Northpointe Bank for more details.

A relatively young institution, Northpointe Bank (FDIC Certificate # 34953) was founded in 1999 by Charles Williams, the current President and CEO. In 2013, Northpointe Bank was ranked by Independent Community Bankers of America (ICBA) as the number one best performing financial institution in the country among its peers. ICBA also named Northpointe Bank in 2014 as a "top-performing lender, one out of nearly 450 community banks that have been successful in providing loans to individuals, families and small business."

How the CDs Compare

When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationally, Northpointe Bank’s 12-month CD currently ranks in the top 8, and the 24-month CD currently ranks in the top 6 in their respective categories.

The above rates are accurate as of 3/31/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Comments
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