November 3, 2018: Rate is up to 2.30% APY now with a 24 month guarantee. 2.30% is the best rate currently available anywhere. Keep in mind that Northpointe doesn’t automatically increase your rate as interest rates go up, you’ll have to request that.
Offer at a glance
- Interest Rate: 1.5% APY
- Minimum Balance: $25,000 for 1.5% rate ($100 initial deposit)
- Maximum Balance: up to $1,000,000 (beyond that the rate is 1.17% APY)
- Availability: Nationwide
- Hard/soft pull: Soft
- Credit card funding: Yes, up to $100
- Monthly fees: None
- Household limit: None (one per SSN/ITIN)
- Insured: FDIC
The Offer
Direct link to account | New Link
- Northpointe Bank is offering an APY of 1.5% (guaranteed for 12 months) on balances of $25,000-$1,000,000 on their money market account. The APY tiers are as follows:
- Tier 1 $0.00-$2,499.99: 0.2% APY
- Tier 2 $2,500-$24,999.99: 0.25% APY
- Tier 3 $25,000.00-$1,000,000: 1.5% APY
- Tier 4 $1,000,000+: 1.17% APY
Avoiding Fees
Account has no monthly fees to worry about
Our Verdict
1.5% APY is currently the top basic savings accounts. Salem Five Direct offers the rate without the $25,000 minimum balance requirement, All America Bank & Redneck Bank also offer the rate but the downside on those accounts is that it’s capped at $35,000. The other advantage to Northpointe is that the rate is guaranteed for at least 12 months. For the majority of people you’ll be best off focusing on rewards accounts offering APY’s of 5%. Northpointe also offers one of those accounts, the best is undoubtedly the Insight cards though. It’s nice to see interest rates trending upwards and there seems to be genuine competition among the financial institutions offering these products currently.
