*Terms and Conditions
Annual Percentage Yield (APY) is accurate as of 05/15/2023. Rates are subject to change without notice. From Account opening and during the Qualifying Period (defined below), 0.00% APY will be paid on balances of $0 to $24,999.99; and 0.25% APY will be paid on balances of $25,000 to $3,000,000. Fees may reduce earnings on the Account. All new accounts are subject to Northpointe Bank approval.
Cash bonus offer is available to all new and current Northpointe Bank customers who open and fund a new Promotional Ultimate Savings or Promotional Ultimate Money Market account (the “Account”) on or before June 30, 2023. Funds already on deposit with Northpointe Bank in any other account within the 60 days preceding the date that the new Account is opened may not be used to qualify for this offer.
To earn a cash bonus, you must have a “Qualifying Balance” (as shown in the chart below) in your Account at the end of the 30th calendar day after you open the Account, and you must continuously maintain a Qualifying Balance in your Account for the “Qualifying Period”, which is the three-month period beginning the calendar day after your Qualifying Balance is set. A month is defined as 30 calendar days. For example, if you open an Account on 6/1/2023, and make two deposits of $75,000 each on 6/5/2023 and 6/10/2023 and make no withdrawals/transfers, on 7/1/2023 your Qualifying Balance is set at $150,000. If you continuously maintain $150,000 in your Account through 9/29/2023, you will earn a cash bonus of $1,250.
If the Qualifying Balance fluctuates, the bonus tier will be based on the lowest dollar amount in the Account during the 3-month period after your Qualifying Balance was set. For example, if your balance on the 30th day is $150,000, the Maximum Bonus you could earn is $1,250. However, if your Balance decreases to $75,000 on day 45, the Maximum Bonus you can earn changes to $1,000. Only one bonus offer is available per Account. If the Account does not reach the Qualifying Balance by the end of the 30th calendar day after Account opening or if the Account balance decreases below $25,000 during the Qualifying Period, no cash bonus will be earned.
|Qualified Balance||Maximum Bonus|
|$0 - $24,999.99||$0|
|$25,000 - $49,999.99||$350|
|$50,000 - $74,999.99||$750|
|$75,000 - $99,999.99||$1,000|
|$100,000 - $3,000,000||$1,250|
|$3,000,000.01 and above||$0|
Within 30 days of the end of the Qualifying Period, Northpointe Bank will credit the Maximum Bonus you earned, if any, to your Account and the APY will adjust to our published rates being offered at that time. Current rates are 0.00% APY on balances of $0 to $99.99; 0.25% APY on balances of $100 to $4,999.99; 0.34% APY on balances of $5,000 to $24,999.99; 3.25% APY on balances of $25,000 to $3,000,000; and 0.30% APY on balances of $3,000.000.01 and above. The Account must remain open to receive the cash bonus. The bonus shall be considered taxable interest to the depositor. Offer is available once per Social Security Number (SSN) or Tax Identification Number. Not valid with any other offers or promotions. Northpointe Bank reserves the right to suspend, modify or revoke this offer at any time prior to expiration. Void where prohibited.
1. Are you FDIC insured?
Yes, Northpointe Bank is FDIC insured. Our FDIC number is #34953.
2. How can I move money in and out of the account?
There are several options for moving funds in and out of the account:
3. 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.
4. What are the fees and minimum balance requirements?
There is no monthly maintenance fee or minimum balance requirement to avoid a fee. Our full fee schedule can be reviewed here: https://www.northpointe.com/fee-schedule/
5. How is the interest calculated and when is it credited?
Interest is calculated based on the daily balance and credited monthly on the last business day of each month. Accounts closed mid-month will earn all accumulated interest. Contact us prior to withdrawing all funds to ensure proper crediting.
6. Is this account available on business or non-profit accounts?
No, this offer is limited to consumer accounts and is not available on IRA, business, non-profit, or public funds deposit accounts.