Loading
Tap on the profile icon to edit
your financial details.

Northstar Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Northstar Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 2001, Northstar Bank has assets totaling $638 million along with deposits totaling $564 million, which makes it a medium-size bank. Northstar Bank, whose headquarters are in Bad Axe, Michigan, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With an average 3.9 out of 5 stars, Northstar Bank is a respectable bank that gets the job done. Northstar Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Northstar Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly maintenance charge. Locating a bank with no-fee checking as well as a high savings APY is the best option for gaining the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.9
SmartAsset Average: 3.5

Northstar Bank has a savings rate of 0.10%, which is fair as compared against the national average. Northstar Bank's one-year and five-year term lengths CDs earn at a rate of 0.65% and 1.66%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given Northstar Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.

How Northstar Bank's Savings Rates Compare

Northstar Bank Savings 0.10 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Northstar Bank charges its customers extremely low fees compared to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Northstar Bank doesn't reimburse out-of-network ATM fees, which means you will have to search for a Northstar Bank ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

3.6
SmartAsset Average: 3.7

Northstar Bank is a brick-and-mortar bank, with 12 total bank locations in Michigan. It also offers access to mobile and web apps for straightforward access and banking on the go. Northstar Bank gets unsatisfactory feedback from users for its mobile banking services. With 10 ratings across both iOS and Android platforms, the Northstar Bank mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). Northstar Bank's mobile app allows you to manage your accounts by looking at account balances, sending and receiving funds as well as accessing customer service. Northstar Bank receives an outstanding consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.2
SmartAsset Average: 4.8

Northstar Bank ranks as a medium-size bank with assets totaling $638 million and $564 million in deposits. Northstar Bank's Texas Ratio is 16.75%, suggesting that the bank is in good financial well-being and unlikely to fail. Additionally, Northstar Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

16.75%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare Northstar Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $2500
Checking Account 0.15% APY $2500
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.26% APY
  • 48 Month: 1.46% APY
  • 60 Month: 1.66% APY
$10000 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Northstar Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Northstar Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Northstar Bank's CD rates are fair in comparison to the national average.

Back to Overview

Find a Northstar Bank Near Me

Northstar Bank has 12 branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure