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Northpointe Bank Review 2022

Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. Updated November 10, 2022 Bankrate logo

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On This Page

At a glance

4.4 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

This Michigan-based regional bank is good for consumers looking for competitive annual percentage yields (APYs) while paying low or no fees. However, the bank only has just one branch, so it’s not the best option for those who want to do most of their banking in-person.

Highlights

High APY Low Fees No Monthly Fees Compare offers Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer details

Capital One

Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer details

Capital One

Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info 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. Info 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. Min. balance for APY Offer details

Bask Bank

Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.

Overall

Northpointe Bank is a Grand Rapids, Michigan-based bank that offers a variety of deposit products with competitive rates and charges low (if any) fees for the accounts.

Pros

Account fees are generally low. Rates are competitive but not the best. Northpointe reimburses ATM surcharges from other banks up to $15 a month.

Cons

Northpointe has just one branch. Customer service hours are limited. High minimum balances are required to earn the highest rates on certain accounts.

Northpointe Bank bank products

Savings CD Money Market Checking 4.2 Bankrate Score

Northpointe Bank savings overview

Northpointe Bank's Ultimate Savings Account offers a competitive interest rate without the pesky monthly fees that some other banks charge. At least $5,000 is required, however, to earn the best available rate. Northpointe also offers an exceptional APY for its Kid’s Savings Account, but the rate drops drastically on balances above $10,000.

Pros

Northpointe offers a competitive APY well above the national average. Accounts can be opened with just $100. There are no monthly service fees.

Cons

At least $5,000 is needed in the Ultimate Savings Account to get the highest APYs. Accounts closed within the first 120 days are subject to a $10 fee. Compare Offer Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Min balance for APY Offer details Offer details

Capital One

Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 4.2 Bankrate Score

Northpointe Bank CD overview

Northpointe offers 10 terms of certificates to choose from and rates are competitive, although at least $1,000 is needed to open an account. If funds are withdrawn before maturity, an early withdrawal penalty applies. A no-penalty CD isn’t available, but Northpointe customers can stash their certificates in an IRA account for added tax advantages on the interest.

Pros

A wide range of flexible term lengths are available from seven days to five years. Northpointe’s APYs across terms are generally above the national average. The same CD rates are accessible through an IRA account.

Cons

Other banks with competitive rates have lower minimums to open a CD account. Compare Offer Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD 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. Min. deposit Term Offer details Offer details

Capital One

Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 4.2 Bankrate Score

Northpointe Bank money market overview

Northpointe Bank’s money market account offers attractive rates, but only if a deposit of at least $2,500 is maintained in the account — and at least $5,000 is needed to get the highest APYs. The account does offer check-writing privileges.

Pros

Competitive rates are available with a deposit of at least $2,500. Check writing is available. No monthly service fees are charged.

Cons

Rates received are much lower when balances fall under $5,000, and no interest is earned at all on accounts with balances below $2,500. The APYs are competitive, but higher rates can be found at online banks and credit unions. An excess transaction fee of $15 per item applies when the limit of six transactions in a month is exceeded. 4.4 Bankrate Score

Northpointe Bank checking overview

Northpointe Bank offers both free and interest-bearing checking accounts. With no monthly fees, the free account is true to its name and requires just $100 to open. Northpointe doesn’t have its own ATMs, but customers do get reimbursed up to $15 in ATM surcharges from other banks each month. For the interest checking account, you’ll get highly competitive rates, but a balance of at least $2,500 is needed to earn interest.

Pros

There’s a low minimum to open a free checking account. The bank offers a generous ATM reimbursement each month. Customers can get a custom debit card with the design of their choice.

Cons

Popmoney is available for person-to-person payments but there’s a charge for each transaction. Customers with less than $2,500 in their interest-bearing checking account receive no interest payment. Stop payment orders (canceled checks) cost $25 each, which is on the higher end compared to other banks. Compare Offer Advertiser Disclosure

Advertiser Disclosure

We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

How We Make Money

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info 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. To open To avoid fees Offer details Offer details

SoFi

Member FDIC Checking Account Details 2.50 % APY To open To avoid fees

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. Popmoney is available for customers looking for a P2P service. Northpointe does not yet offer customizable account alerts.

About Northpointe Bank

Northpointe Bank is a Grand Rapids, Michigan-based bank that offers competitive interest rates to its banking customers and charges low or no fees on its accounts. Established in 1999, the regional bank offers checking accounts, money market accounts, CDs and savings accounts. Northpointe, however, has but one branch, so out-of-area customers can expect to do most banking online. Northpointe Bank also offers a number of home loan options.

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. .