Northfield Bank Platinum Savings Online Account – 2.25% APY On Balances Up To $100,000 – Available Nationwide

Update (8/23/18): They are accepting applications again.

Offer at a glance

  • Interest Rate: 2.25% APY
  • Minimum Balance: $2,500 to avoid monthly fees, no minimum for 2.25% APY
  • Maximum Balance: $100,000, balances over this will earn 0.9% on the entire balance
  • Availability: Nationwide
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: ACH funding only
  • Monthly fees: $8, avoidable
  • Insured: FDIC

The Offer

Direct link to offer (scroll down to PLATINUM SAVINGS – ONLINE)

  • Northfield Bank is offering a rate of 2.25% APY on the Platinum Savings Online Account on balances up to $100,000. Balances over $100,000 will earn 0.9% APY on the entire balance.

The Fine Print

  • New money is required to open a Platinum Savings.
  • New money is defined as funds not currently on deposit at Northfield Bank.
  • Offer only available online.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees $8

This account has a $8 monthly fee. This is waived with a balance of $2,500+

Our Verdict

Previously this was only available in NJ/NY, but it’s now available nationwide. This is the highest high yield savings account currently available, next best rate is 2.05% APY. There are rewards checking accounts that offer up to 5% APY though. How useful this account will be will depend on how much you like to keep in cash and if you want to bother with a rewards checking account or not. If you had the full $100,000 in the account you’d earn an extra $200 annually compared to a 2.05% APY account. A lot of readers would be better off focusing on savings account bonuses instead but this is definitely a long term option worth considering if rates stay stable. Unfortunately it’s a hard pull, so that makes this deal considerably worse.


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oldest most voted

Steve (@guest_834318)
November 2, 2019 12:51

Their rate has dropped a few times. It’s down to 1.90% as of 10/30/2019 or earlier.

Yet Another Redditor
Yet Another Redditor (@guest_700433)
January 4, 2019 16:56

Max deposit for 2.25% APY is now $224,999.99, up from the $99,999.99 previously.

Edit: Nevermind, that increased limit is for in-branch only. The Online one is still at $99,999.99.

QCP (@guest_684877)
December 4, 2018 17:57

Kept this open to be able to withdraw ~$40 in accrued interest after Dec. closes. They zero’d out my account after closing Nov. w a balance <$8 and my accrued interest of around $40 is now at zero.

john Platero
john Platero (@guest_662826)
October 25, 2018 00:44

Northfield Bank is offering a rate of 2.25% APY on the Platinum Savings Online Account on balances up to $100,000. Balances over $100,000 will earn 0.9% APY on the entire balance

that means if you invest more than $100,000 you actually earn a lot less!

QCP (@guest_661205)
October 22, 2018 09:26

Sent a secure message on how to close and never got a response. Planning to ACH out my last 2,500 the day my Q4 interest posts and be done with them.

pjb4 (@guest_656068)
October 11, 2018 20:43

Has anyone ever got any monthly electronic statement from this bank?

Eric (@guest_647488)
September 25, 2018 22:30

I opened a Northfield account and so far my experience has not been good. After I applied I received an auto generated email giving me my reference # and saying that I would get another email when they will send some micro transactions to verify my linked account for transfers. Five days went by and had no further emails. I emailed customer service with a copy of my reference # email to find out what the status was and their only response was to “reapply for the account again”. At that point I wasn’t going to bother reapplying again due to the issues so far. Eight days went by since first applying and then I received an email saying that they were going to send micro transactions to verify my account in a few days (so they never lost my application anyway, haha). I verified the transactions and they took my initial deposit of $500. At this point since they verified the transactions and took my initial deposit I set when I applied, I thought I would get an email confirming my account and what my new bank account # was. I never received anything confirming my new account so I emailed customer service again. Their response was ” we don’t send account # over email and that I would have to call to get my account #”. It would have been nice of them to send a confirmation email of my account and tell me that I would have had to call to get the info at least instead of leaving me in the dark. I received my account # over the phone and then I enrolled my account online. I then found a nice warning surprise when trying to transfer money, they only allow daily transfers of $5K into the account with a max $10K monthly limit. I called to ask about the transfer limitations and they said it should be 100K transfer limit. They said it could be due to it being my first transfer and it would change to 100K but they said “they were not sure”. What a hassle, don’t waste your time with this one.

G (@guest_711600)
January 24, 2019 22:11


Rusty (@guest_645231)
September 20, 2018 21:53

I opened an account last week and funded it a few days ago. Im not getting a loan anytime soon, so the hard pull was no concern to me. But i have my credit locked/frozen at all three agencies. Not sure how that worked.

pjb44 (@guest_641612)
September 12, 2018 13:30

I opened this account couple weeks back and waited to see if anything reports on my score or inquiries, seems like it was soft inquiry? I do not see any hard pull so far. May they stopped doing Hard pulls.

Someone (@guest_637655)
September 1, 2018 00:53

Signed up last weekend. Funds fully transferred in a couple days. Interest rate is 2.23% according to their website; already accrued a few dollars interest. No hard pull according to CreditKarma.

QCP (@guest_637704)
September 1, 2018 09:37

Account funded 7/17. On their overview page, “Interest accrued” updates everyday, but “interest paid” is still at zero and has yet to post.

Someone (@guest_637927)
September 2, 2018 00:13

According to their consumer disclosure PDF: “Interest will be compounded every day. Interest will be credited to your account every quarter.” and “If you close your account before interest is credited, you will not receive the accrued interest.”

Jason (@guest_638746)
September 4, 2018 17:19

this is really aweful bank that I regret to open it with my expreian hard pull

shan (@guest_638301)
September 3, 2018 13:19