Deposit Rates
Effective: May 1, 2020
Savings Accounts
| Account Type | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open | Minimum Daily Balance to Waive Monthly Service Charge | Monthly Service Charge |
|---|---|---|---|---|---|
| Northern True Savings1 5 | .15% | .15% | $25.00 | $500.00 | $10.00 |
| Health Savings1 | .50% | .50% | $25.00 | $0.0 | |
| Northern Premium Savings1 4 | 1.49% | 1.50% | $25.00 | $0.00 | |
| Northern Business Investment Savings1 | |||||
| $.01 - $4,999.99 | .15% | .15% | $25.00 | $5,000.00 | $15.00 |
| $5,000.00 - $24,999.99 | .20% | .20% | |||
| $25,000.00 - $49,999.99 | .25% | .25% | |||
| $50,000.00 - $99,999.99 | .30% | .30% | |||
| $100,000.00 and above | .35% | .35% | |||
Checking Accounts
| Account Type | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open |
Minimum Daily Balance to Waive Monthly Service Charge |
Monthly Service Charge |
|---|---|---|---|---|---|
| Northern Plus Checking1 | .05% | .05% | $25.00 | $2,500.00 | $10.00 |
| Northern Premium Checking1 2 | |||||
| $.01 - $2,499.99 | 0.00% | 0.00% | $25.00 | $10,000.00 combined depository balances2 | $20.00 |
| $2,500.00 - $4,999.99 | .05% | .05% | |||
| $5,000.00 - $9,999.99 | .25% | .25% | |||
| $10,000.00 and above | .50% | .50% |
Money Market Investment Account15
| Account Type | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open |
Minimum Daily Balance to Waive Monthly Service Charge |
Monthly Service Charge |
|---|---|---|---|---|---|
| $.01 - $2,499.99 | .10% | .10% | $25.00 | $1,000.00 | $10.00 |
| $2,500.00 - $49,999.99 | .15% | .15% | |||
| $50,000.00 - $249,999.99 | .30% | .30% | |||
| $250,000.00 and above | .40% | .40% |
Northern Business Money Market Account1
| Account Type | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open |
Minimum Daily Balance to Waive Monthly Service Charge |
Monthly Service Charge |
|---|---|---|---|---|---|
| $.01 - $2,499.99 | .10% | .10% | $25.00 | $1,000.00 | $10.00 |
| $2,500.00 - $49,999.99 | .15% | .15% | |||
| $50,000.00 - $249,999.99 | .30% | .30% | |||
| $250,000.00 and above | .40% | .40% |
Certificates of Deposit
| Term | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open & Earn APY |
|---|---|---|---|
| 6 months | .40% | .40% | $500 |
| 9 months | .40% | .40% | $500 |
| 12 months | .50% | .50% | $500 |
| 15 months | .55% | .55% | $500 |
| 18 months | .60% | .60% | $500 |
| 24 months | .65% | .65% | $500 |
| 30 months | .65% | .65% | $500 |
| 36 months | .70% | .70% | $500 |
| 48 months | .75% | .75% | $500 |
| 60 months | .75% | .75% | $500 |
A penalty will be imposed for early withdrawal from a certificate of deposit.
Maximum opening deposit of $250,000.00 per certificate of deposit account.
Fees may reduce earnings on the account.
IRA Certificates of Deposit
| Term | Interest Rate |
Annual Percentage Yield (APY3) |
Minimum Balance to Open & Earn APY |
|---|---|---|---|
| 6 months | .40% | .40% | $500 |
| 9 months | .40% | .40% | $500 |
| 12 months | .50% | .50% | $500 |
| 15 months | .55% | .55% | $500 |
| 18 months | .60% | .60% | $500 |
| 24 months | .65% | .65% | $500 |
| 30 months | .65% | .65% | $500 |
| 36 months | .70% | .70% | $500 |
| 48 months | .75% | .75% | $500 |
| 60 months | .75% | .75% | $500 |
A penalty will be imposed for early withdrawal from a certificate of deposit.
Maximum opening deposit of $250,000.00 per certificate of deposit account.
Fees may reduce earnings on the account.
$25.00 annual fee for IRA accounts.
1 Variable Rate account. The rate may change after the account is opened. Fees may reduce earnings on the account.
2 A monthly service charge of $20.00 will be imposed if the combined daily balance of the deposit accounts for which you are a primary or secondary owner of falls below $10,000.00 any day of the statement period. In addition the monthly service charge of $20.00 can be waived if you are a business owner and have a business deposit relationship with us or if you have an active residential mortgage with us.
3 Annual Percentage Yield (APY): There is no minimum balance required to earn the disclosed annual percentage yield except as otherwise noted.
4 New money only. Maintaining a personal checking account is required to be eligible for this rate. The minimum to open a personal checking account ranges from $10.00 - $25.00 depending on the product selected. If a personal checking account is not maintained with an open status, then the Premium Savings Account will be reclassified as a Northern True Savings after an appropriate notice to the customer. Please refer to our Personal Account Schedule of Fees for information about other fees and charges.
5 The $10.00 monthly service charge may also be waived by making a monthly deposit during the statement cycle (Branch, ATM, Mobile or direct deposit) or if the account is enrolled in electronic statements.