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Northipointe Bank Ultimate Savings Account with 2.05% APY guaranteed for 12 months for balances over $25,000

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A new offer from Northpointe Bank. Several of us did their 5% APY deal on checking account balances till $10,000 before they shut that down. It appears that this rate is guaranteed for 12 months


https://www.northpointe.com/earn-20x/



Frequently asked questions
1. Are you FDIC insured?

Yes, Northpointe Bank is FDIC insured. Our FDIC number is #34953.

2. Does the rate apply to the full balance or just the amount over $25,000?

The 2.05% APY rate applies to the full balance if the balance is between $25,000 - $1,000,100.

3. How can I move money in and out of the account?

There are several options for moving funds in and out of the account:

Deposits In

Mobile Check Deposit via our Mobile Banking App
ACH in initiated from your bank, credit union or PayPal/Venmo type service
Wire transfer in
Mail us a personal check, cashier's check, or bill pay check
Withdrawals Out

ACH out initiated from your bank, credit union or PayPal/Venmo type service
Wire transfer out (fee applies)
We can mail you cashier's check via USPS delivery (fee applies)
4. Can the account be opened in the name of a trust?

Yes, we allow accounts to be titled in the name of a trust. As an alternative, you can also designate the trust as a beneficiary.

5. Do you offer checks, debit card, or bill pay on this account?

No, as a savings account this account is subject to federal banking Regulation D which limits non in-person withdrawals to up to six transactions per month. Specific to Northpointe, we do not allow checks, debit cards or bill payment on our savings accounts.

6. What are the fees and minimum balance requirements?

There is no monthly maintenance fee or minimum balance requirement to avoid a fee. The minimum balance to earn the 2.05% APY is $25,000 - $1,000,100. Our full fee schedule can be reviewed here: https://www.northpointe.com/fee-schedule/

7. How is the interest calculated and when is it credited?

Interest is calculated on the daily balance and credited quarterly (Mar 31, June 30, Sept 30, Dec 31). Account closed mid-cycle will earn all accumulated interest.

8. Is this account available on business or non-profit accounts?

Yes, our 2.05% APY Ultimate Savings is available on personal, business and non-profit accounts.
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Created 07-04-2018 at 08:37 AM by Sriman
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24 Comments

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This comment has been rated as unhelpful by Slickdeals users
Joined May 2015
L3: Novice
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#2
2.05% is kind of low
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Joined Mar 2006
:D
71 Posts
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#3
Quote from GiveMeMercy
:
2.05% is kind of low
Alternative?
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Joined Dec 2006
L10: Grand Master
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#4
Quote from GiveMeMercy
:
2.05% is kind of low
Please point us in direction of high yield savings higher than this with no hoops
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Joined Nov 2011
L6: Expert
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#5
Quote from Switching2Geico
:
Please point us in direction of high yield savings higher than this with no hoops
Heritage Bank is 3.xx% up to 25k but requires 10 debit card purchases per month, Amazon GC reload works. There are others
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Joined Sep 2011
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#6
Quote from Puff601
:
Heritage Bank is 3.xx% up to 25k but requires 10 debit card purchases per month, Amazon GC reload works. There are others
I guess you missed "no hoops"
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Joined Nov 2011
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#7
Quote from Sriman
:
I guess you missed "no hoops"
Nope, saw it plain as day... If thats too big of a hurdle for you, stick with your 2% lol
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#8
Quote from Puff601
:
Nope, saw it plain as day... If thats too big of a hurdle for you, stick with your 2% lol
25k limit plus 10 debit loads is hoops pal.
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This comment has been rated as unhelpful by Slickdeals users
Joined Nov 2011
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#9
Quote from Switching2Geico
:
25k limit plus 10 debit loads is hoops pal.
Well... There arent any options out there with no hoops that offer more than 2% now are there? I'll wait...
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Joined Dec 2009
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#10
The real question is what their track record is for maintaining interest rates past their intro period. Used to chase rates a bit (back when interest rates were actually worth chasing), but I wised up. I'm getting 1.75% at Barclay's and they've been pretty consistent over the past few years.
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Joined Nov 2008
Deal Pickle ( 0_o V)
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#11
Marcus bank

2.30% APY for 12 month CD. no minimum.
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Joined Aug 2004
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#12
Quote from completing
:
Marcus bank

2.30% APY for 12 month CD. no minimum.
but that's a CD.. not a savings account..
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Joined Dec 2009
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#13
Sorry, if I had an extra 25K laying around it wouldn't be stuffed into an account with a measly 2%! It'll be put wisely into the market to generate much more! Let's just say, in 2 years I more than doubled my Alibaba investment!
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Joined Dec 2012
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#14
Quote from PlasmaStars
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Sorry, if I had an extra 25K laying around it wouldn't be stuffed into an account with a measly 2%! It'll be put wisely into the market to generate much more! Let's just say, in 2 years I more than doubled my Alibaba investment!
I am looking to hoard more cash and this is better than most saving %. I don't mind doing the 10 debit transaction but up to $25K is an issue. Definitely a worthy post.
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Joined Dec 2006
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#15
Quote from PlasmaStars
:
Sorry, if I had an extra 25K laying around it wouldn't be stuffed into an account with a measly 2%! It'll be put wisely into the market to generate much more! Let's just say, in 2 years I more than doubled my Alibaba investment!
Some people are stacking cash for other potential investments. The dow jones stock market as you have surely noticed this year is in the red for the year to date.

I max out 401k for me and wife.

But i am looking for an investment property. So while i search, its nice to have my money grow albeit at 2%.
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