1.80% APY no penalty 3-year certificate of deposit with Northpointe Bank
Northpointe Bank still offers their top cd rates for their current 3-year certificate of deposit promo that does not charge an early withdrawal fee after the account’s 18th month. The best cd rate of 1.80% APY dropped a bit compared to last month’s cd rates but this remains to be a money in the bank deal for the locals of Michigan.
Look for the Compass CD promo on the bank’s website. To enjoy these highest interest rates, you are required to have at least $5,000 in the bank. This should be a new money opening deposit.
The promo certificate of deposit will convert into an 18-month CD in case you decide to take out some money on or before 18 months. The current interest rate for their 18 month CD is 1.35% APY.
Take note that the CDs are for Michigan residents only. According to a bank representative, consumers can open an account via mail without you having to visit a branch. The interest rates will lock upon receipt of the initial funds. You can also send in the money by wire transfer which is the faster option instead of sending in a check.
This bank only operates one office in Grand Rapids. You may contact the bank thru 888-672-5626 if you have questions with regard to their certificate of deposit rates and other savings opportunities.
The bank is covered by FDIC certificate number 34953.
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