Available for residents nationwide, Northfield Bank is offering a Platinum Savings Account with 0.85% APY.
Continue reading below to learn everything you need to know about Northfield Bank.
About Northfield Bank Platinum Savings Review
Northfield Bank is a full service community bank located in NY and NJ. They strive each day to uphold their mission to be the financial institution of choice to individuals and businesses by delivering innovative financial products and exceptional customer service.
They provide a full range of financial solutions for both retail and commercial customers, including lending, cash management, digital banking, deposit, and investment solutions. Even though this is a physical bank with branch locations, you can still open a savings account online and is available nationwide.
I’ll review Northfield Bank Platinum Savings Account below.
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Northfield Bank Platinum Savings 0.85% Rate
To earn Northfield Bank’s competitive rate, simply meet all the requirements. Once you qualify, you will start earning the 0.85% rate.
- Account Type: Platinum Savings Account
- Interest Rate: 0.85% APY
- Minimum Balance: $0.01
- Maximum Balance: $225,000
- Availability: Nationwide (Branch Locator)
- Credit Inquiry: Hard Pull
- Opening Deposit: $10
- Credit Card Funding: Unknown
- Monthly Fee: $8 monthly fee can be waived with a daily balance of $2,500
- Early Termination Fee: None listed
Northfield Bank ACH Capabilities and Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn Northfield Bank Rates
- Open a Platinum Savings Account from Northfield Bank with an opening deposit of $0.01.
- Start earning the 0.85% APY rate with just the opening deposit.
|Balance Requirement||APY Rate|
|$0.01 to $99,999.99||0.85% APY|
|$100,000 to $224,999.99||0.85% APY|
Why You Should Sign Up For This Account
- Minimum of $0.01 to open a Platinum Savings Account
- Member of FDIC so your money is always safe
- Monthly fee can be easily waived with a $2,500 daily balance
Check out this offer from Northfield Bank and open a Platinum Savings Account online to earn a 0.85% APY rate today! The great thing about this rate is that it earns the generous APY with no minimum balance! However, once your balance reaches $250,000, you will no longer earn the high rate.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Northfield Bank Platinum Savings Account.
I was also told they could not authenticate me.
Hi Aaron, thanks for sharing the great review. There seems to be a small typo in the second sentence. “Of” may need to be swapped with “or”.
(apply online of visit –> apply online or visit)
Danny Nguyen says
Thanks for catching that! We have corrected that typo!
What are the account details, for those that actually have an account? Deposit/withdrawal limits, min deposit time etc. Sure seems like a scam since the rate is better than ANYONE else. They have not responded to my request for an account that I started online but then it tells you to contact the bank by phone.
This may as well be a scam. See below for my email to Northfield, and their response. They were VERY SLOW responding. If you’re a kid with a few thousand dollars this MIGHT be an ok account for you. If you have more money, there are far better short term investment options.
Hi, Please send ALL information that is available regarding your platinum savings account including the following if available: historical rates, transaction restrictions. I was attracted by the great rate you offer and started to open an account but the fact that I cannot open the account easily online already has me worried. Please answer the above question via email so I can review all account specifics to make a decision. Thank you!! Eli
Here are some of the product details:
· No fees unless the balance falls below the required minimum of $2500
· Inbound transfers limited to $2000 per day/$5000 per month
· Outbound transfers limited to $5000 per day/$10,000 per month
We do not have historical rates to provide.
If you have other specific questions, please let us know.
Tried to open new account online but was asked to contact them via email then got follow reply.
Unfortunately, you do not have enough open credit balances for the system to generate sufficient authentication questions. We are not able to open your account at this time. You receive a denial letter in the mail.
Billy Bonus says
Same outcome for me. I have opened numerous online savings accounts with various banks and never had a denial or an issue generating the authentication questions. I called Northfield and the customer service people acknowledged that this has been happening to a large number of applicants and they are working on it (it is a new promotion). They don’t seem to know what they are doing. So be cautious – you may get a credit score ding, but no new account. I am thinking that this is could be a scam by the bank to collect information on applicants and use this fake reason to deny the account opening. I left a message for a manager and asked them to call me to discuss. Next step will be to file a complaint with CFPB.
I opened an account and it’s a Hard Pull for those looking into this.
also available in person at any branch