Today’s post will be a little bit shorter (did I hear some applause? 2 Checking Account System on. This is really one of the highest rates offered on any checking account that I’ve come across: 5% APY.) – but I wanted to make you aware of a checking account that we are partnering with the
The bank is called Northpointe Bank and they are based out of Michigan. For balances up to $5,000, you can earn 5% back. So, if you put $5k in your bank and let it sit in the account for a whole year, you could make an easy $250. Not too shabby considering that I made about a quarter in interest from my bank last year!
On top of this, Northpointe is offering TTG readers an extra $50 to sign-up and fund a new account!
There are some things to note with opening up one of their accounts:
- You’ll need to fund your account with at least $100
- On balances over $5,000, you’ll earn a simple interest rate of 0.10%, with a corresponding APY of 2.54-5.00%
- You must keep the checking account open for at least $120 days
You’ll also need to meet certain qualifications during a statement period to get the 5%:
- 15 or more debit card purchases that amount to $500 or greater
- Enrollment in estatements
- Enrollment in direct deposit or automatic withdrawal of $100
But there are some great positives to take note of (not to mention the 5% APY and $50 sign-up bonus):
- Free checking
- Refunds for ATM use, up to $10/month
- 24/7 online access, mobile banking and bill pay
As with most bank account offers, the rates are subject to change after you open an account. In talking to Northpointe’s rep, they don’t forsee them changing it any time soon.
All in all, this is a very interesting offer and if you choose to make this account your variable account (from the 2 Checking Account System) OR decide to make this your single checking account, you probably won’t have a tough time meeting these qualifications.
Please let us know if you’ve had any experience with Northpointe OR have any questions. Their representatives are very friendly.
TTG does receive some compensation if you decide to open up a checking account with Northpointe. Terms of Northpointe Bank exclusive promotion for Three Thrifty Guys readers: $50 new account bonus subject to approved applications funded with at least $100. Bonus paid in the form of interest credit to the account. Accounts closed within 120 days of opening subject to forfeiture of new account bonus plus a $10 early closing fee.