Northpointe Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Michigan-based Northpointe Bank is good for consumers seeking deposit account rates above national averages — some in the competitive range — while paying no monthly maintenance fees. The bank operates one branch, so it’s best for those who want to do most or all of their banking online.
Highlights
- ATM Fee Refunds
- No Monthly Fees
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Overall
Northpointe Bank is a Grand Rapids, Michigan-based bank offering a full selection of deposit products, including both free and interest-bearing checking accounts. The bank doesn’t charge monthly service fees for its accounts, and it reimburses some ATM surcharges assessed by other banks. The savings and money market accounts pay competitive rates on some balance tiers, although significantly higher certificate of deposit (CD) yields can be found at other banks. Additionally, savings accounts with lower balance requirements to earn the top yield can be found elsewhere.
Pros
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Rates are competitive for some balance tiers.
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No monthly maintenance fees or overdraft fees are charged.
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Northpointe reimburses ATM surcharges from other banks up to $15 a month.
Cons
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Customer service call center hours are limited.
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High minimum balances are required to earn the best rates on certain accounts.
Northpointe Bank banking products
APY last updated between 12/6 and 12/12.
Northpointe Bank savings overview
Also offered is a Kid's Savings account with tiered rates that are above national averages. The highest rate is earned on balances under $1,000, with the portion of a balance over $10,000 earning a significantly lower rate. A minimum of only $10 is required to open this account, and it carries no monthly maintenance fees.
The Ultimate Savings account charges a $5 fee if more than six withdrawals are made from that savings account during a month.
Pros
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Some balance tiers earn competitive APYs.
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The Ultimate Savings account can be opened with just $100.
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There are no monthly service fees.
Cons
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At least $25,000 is needed to earn the highest APY for the Ultimate Savings account.
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Accounts closed within the first 120 days are subject to a $10 fee.
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Balances under $100 don’t earn interest.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Northpointe BankAPYAPY last updated between 12/6 and 12/12.APYAPY last updated between 12/6 and 12/12.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
Fee | Charged? |
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Overdraft fee | None |
Non-sufficient funds fee | None |
Monthly maintenance fee | None |
Out-of-network ATM fee | None |
Excessive transaction fee | $5 |
About Northpointe Bank
Established in 1999, Northpointe Bank is a Grand Rapids, Michigan-based bank that offers competitive interest rates on some balance tiers for its deposit accounts, and it charges no monthly account maintenance fees.
Northpointe offers CDs, money market and savings accounts, as well as free and interest-bearing checking accounts. The bank maintains just one branch, so out-of-area customers can expect to do most banking online. Northpointe also offers a number of home loan products.
Bank experience
Customers looking for general help with accounts will find that phone support is only available weekdays 8 a.m. to 6 p.m. Eastern time, though some automated banking services are available 24/7.
Northpointe’s app has generally received positive ratings for iOS and decent ratings for Android.
How Northpointe Bank compares to other banks
Compare different account types offered by Northpointe Bank. Annual percentage yields (APYs) shown were updated between Dec. 6, 2024 and Dec. 12, 2024.
Selected bank
Northpointe Bank savings account
Bankrate score
4.3
Bankrate Savings rating = 4.3/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Varo Bank savings account
Bankrate score
4.5
Bankrate Savings rating = 4.5/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Search for or select a bank:
Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Dec. 6, 2024 and Dec. 12, 2024.
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3.25% | 3.00% | |
Minimum balance for APY
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$25,000.00 | $1.00 | |
Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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$1,625 | $1,500 | |
Northpointe Bank’s Ultimate Savings is a tiered account. Customers need $100 to open the account and begin earning interest. Yields are very low until you make at least $25,000 in deposit. Even then, higher yields can easily be found elsewhere. | Varo offers an FDIC-insured high-yield savings account. You can earn a very competitive yield on the first $5,000 and then a competitive yield on the remainder. There’s also no minimum opening deposit requirement nor a monthly fee. Varo also offers a much higher APY on savings accounts that meet certain criteria, including at least $1,000 directly deposited each month and a maximum daily balance of $5,000. Two useful tools for savings come with the account: a Save Your Pay feature and a Save Your Change feature. Save Your Pay automatically takes a percentage that you set from each directly deposited paycheck and transfers it to your savings, while Save Your Change rounds up transactions made from the checking account and transfers the spare change to savings. A Varo checking account is required to open a Varo savings account. In February 2024, Varo had a promotion where you can get your tax refund up to five days earlier, according to its website. | |
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Northpointe Bank vs. CIT Bank
Northpointe and CIT banks both offer a wide range of deposit products, including CDs as well as checking, money market and savings accounts. Generally, CIT Bank offers higher yields (with much lower balance requirements) on its deposit products.
Since Northpointe Bank has just one branch in Michigan, customers will need to be comfortable solely banking online (which is also the case for CIT Bank).
Northpointe Bank FAQs
Review methodology
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. Read our full review methodology.
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