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Northpointe Bank Review 2024

Updated January 2, 2024
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At a glance

4.2
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.2 stars out of 5

Checking

Rating: 4.3 stars out of 5

Savings

Rating: 4.3 stars out of 5

MMA

Rating: 4.3 stars out of 5

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
Compare offers
Info
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info
As of 4/17/2024
Rating: 4.9 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 4/17/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:

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

  • Checkmark

    Rates are competitive for some balance tiers.

  • Checkmark

    No monthly maintenance fees or overdraft fees are charged.

  • Checkmark

    Northpointe reimburses ATM surcharges from other banks up to $15 a month.

Cons

  • Customer service call center hours are limited.

  • High minimum balances are required to earn the best rates on certain accounts.

Northpointe Bank banking products

4.3
/5
Rating: 4.3 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
3.25%
Rating: 4 stars out of 5
4/5
Info
Minimum balance to earn interest:
$100.00
Rating: 4 stars out of 5
4/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Good
Rating: 4 stars out of 5
4/5
Info
FEATURES
Invest Rate
0.25% – 3.25% APY
Info
Loan
$100 minimum deposit to open

Northpointe Bank savings overview

Northpointe Bank's Ultimate Savings account earns a competitive rate, but you’ll need a balance of at least $25,000 to qualify for it. Lower balances earn rates that are on par with the national savings account average. A minimum opening deposit of $100 is required, and no monthly service fee is charged.Supersavers should note that balances of more than $3 million earn significantly less than balances between $25,000 and $3 million in the Ultimate Savings account.

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

  • Checkmark

    Some balance tiers earn competitive APYs.

  • Checkmark

    The Ultimate Savings account can be opened with just $100.

  • Checkmark

    There are no monthly service fees.

Cons

  • At least $25,000 is needed to earn the highest APY for the Ultimate Savings account.

  • Accounts closed within the first 120 days are subject to a $10 fee.

  • Balances under $100 don’t earn interest.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Northpointe Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info
As of 4/17/2024
Rating: 4.9 stars out of 5
Info
$1
Min balance for APY
View offer Arrow Right
Promoted offer:

Bank fees

Fee Charged?
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 does Northpointe Bank compare to other banks?

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

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.