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Northpointe Bank Review 2024

Updated January 2, 2024
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At a glance

4.4
Rating: 4.4 stars out of 5
Bankrate Score
Caret Down Icon

CDs

Rating: 4.2 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
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
3.80
%
APY
APY
Info Icon
As of 12/13/2024
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.86
%
APY
APY
Info Icon
As of 12/13/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Get up to 4.86% APY on savings and 0.51% APY on checking
Bank logo
Member FDIC
Checking Account
0.00
%
APY
APY
Info Icon
As of 12/13/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon

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 Icon

    Rates are competitive for some balance tiers.

  • Checkmark Icon

    No monthly maintenance fees or overdraft fees are charged.

  • Checkmark Icon

    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.

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Northpointe Bank banking products

4.3
/5
Rating: 4.3 stars out of 5
SCORE BREAKDOWN
APY offering:
3.25%
Rating: 4 stars out of 5
4/5
Info Icon
Minimum balance for APY:
$100.00
Rating: 4 stars out of 5
4/5
Info Icon
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info Icon
Access to funds:
Good
Rating: 4 stars out of 5
4/5
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FEATURES
Invest Rate Icon
0.25% – 3.25% APY
Info Icon
Savings Icon
$100 minimum balance for APY
Loan Icon
$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 Icon

    Some balance tiers earn competitive APYs.

  • Checkmark Icon

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

  • Checkmark Icon

    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 Icon
    National average APY
    How do we get this data?
    Info Icon

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 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
Northpointe Bank Logo
Member FDIC
Bankrate score
Rating: 4.3 stars out of 5
4.3
Info Icon
Most comparable
Varo Bank savings account
Varo Bank Logo
Member FDIC
Bankrate score
Rating: 4.5 stars out of 5
4.5
Info Icon
Search for or select a bank:
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Bankrate score
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Read review
APY
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3.25% 3.00%
Minimum balance for APY
$25,000.00 $1.00
Estimated earnings
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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.
  • The Ultimate Savings account can be opened with just $100.
  • If you have at least $25,000, you can earn a solid yield.
  • There is no monthly fee.
  • The savings account offers a competitive APY
  • There’s no minimum deposit requirement or monthly fee
  • Automated tools help customers boost their savings
  • People age 18 or older in all 50 states and Washington, D
  • C
  • can open an account with Varo
    N/A
  • Higher yields with lower balance requirements can easily be found elsewhere.
  • Balances under $100 don’t earn interest.
  • Withdrawals are limited to six per month.
  • Varo’s online savings account only offers the highest yield for balances of $5,000 or under
    N/A

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.