Northpointe UltimateSavings Review – 1.95% APY

07/09/18: Rate decreased to 1.95% (stays at 2.05% for existing customers)

05/16/18: Rate increased to 2.05% for balances $25,000-$1,000,000.

• Interest Rate: Up to 2.05% APY
• Availability: Nationwide
• Direct deposit required: No
• Additional requirements: Yes, see below 
• Hard/soft pull: Soft
• ChexSystems: See below
• Credit card funding: Yes, up to $100 
• Monthly fees:  None 
• Insured: FDIC
• Household Limit: One per household

Introduction

Direct link to account

• Northpointe is offering 2.05% APY on its UltimateSavings if your balance is $25,000-$1,000,000 (balances above or below those thresholds earn 1.12% on the full balance). They are guaranteeing the rate for 12 months.

 

Avoiding ChexSystems Inquiry

It’s possible to get this account without a ChexSystems inquiry if you’re an existing Northpointe Bank customer. To avoid the ChexSystems account you need to contact them directly via email, chat or phone to set-up the account since the online application automatically completes a Chex pull as part of the application. In addition they stated via e-mail that this account is not as sensitive to too many ChexSystems inquiries as the checking account is.

Our Verdict

I suspect a lot of readers still haven’t forgiven Northpointe for getting rid of the 5% APY account they used to offer. This 2.05% APY account is the current top rate for basic savings accounts, next best are 2.01% & 2%. The downside to this account is you need a minimum of $25,000 in there to earn the 2.05% APY rate (if your balance is above $25,000 then the whole balance earns that rate as long as it isn’t in excess of $1,000,000). Having the rate guaranteed for 12 months is not that useful as rates are expected to raise. As always you can view the best current high interest rates by clicking here.

 

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank