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Financial Rates:
4.0
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Customer Service:
5.0
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Website Experience:
5.0
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Bank Fees:
3.0
Pros:
- Online accounts have competitive rates
- Variety of personal deposit accounts
- Online and mobile banking
- Business accounts available
Cons:
- Cannot open all accounts online
- Tiered interest rates
- Accounts have monthly fees
- High required amounts for online
What You Need to Know
The Northfield Bank online accounts offer competitive interest rates. The rates for the online accounts are competitive with other online accounts. The online account rates are higher than other Northfield Bank account rates.
There are a variety of personal accounts offered by Northfield Bank. They offer an interest-earning checking account, one for students, and traditional checking accounts. They offer a savings account for children, CDs, and money market accounts.
Northfield offers online and mobile banking for their accounts. These services are not just for the online accounts. All Northfield Bank accounts have the option of online and mobile banking. You can see account balances, transfer money, and deposit checks. You can pay bills and pay others with PopMoney.
Along with personal deposit accounts, Northfield offers business accounts. Those accounts include a checking and money market account for businesses. Northfield also offers credit cards, lending, and cash management services for businesses. All business accounts must be opened in a branch location.
Not all Northfield Bank accounts can open online. Most Northfield accounts require you to visit a branch location to open. Their branches are in the New York and New Jersey area. The accounts you open online include one savings account and CDs. The CD terms include a nine-month, 11-month, 16-month, and 60-month.
The interest rates for Northfield accounts opened in a branch location are tiered. To earn the most competitive rates on those accounts requires large account balances. The money market account requires $15,000. The high yield money market and premier savings account requires $100,000.
Most Northfield accounts have monthly fees. The fees for accounts opened in the branches range from $3 to $25. To waive the fees requires a set account balance. Those balance range from $500 to $100,000. The online savings account has a monthly fee of $8 if your balance falls below $2,500.
The online accounts with Northfield have high opening required amounts. The online CDs require $2,500 to open. The savings account only requires $0.01 to open, but there is an $8 monthly fee if your balance falls below $2,500. Any amount over $0.01 earns interest. You must also link the Northfield account to another bank account. You fund your Northfield online account through the linked account.
Cool Things
Financial Calculators
The Northfield Bank website offers financial calculators. Those include retirement calculators, savings and personal finance calculators, and loan calculators. These calculators help you see how much money you need to save. They show what interest rates do for your money. See how taking a sack lunch can save money.
History
In 1887, Northfield started in Staten Island, New York. The first name was Northfield Building and Loan and Savings Association. They started with one location.
Today, Northfield has 39 locations in New York and New Jersey, with the 40th location opening soon. They have over $4 billion in assets.
Northfield offers accounts opened in the branch locations as well as online accounts. Their online accounts include a savings account and CDs. The interest rates for the online accounts are competitive with other online accounts.
Awards and Recognition
- Corporate Board Gender Diversity Award by the Executive Women of New Jersey
Giving Back
The Northfield Bank Foundation started in 2007. This foundation supports education, youth, health services, and other organizations. Since 2007, they have given over $7 million to more than 50 organizations.
Northfield Bank employees volunteered their time to visit the Piscataway Senior Center. They helped the residents make key chains, blankets, and had a photo booth.
Employees also volunteered their time to help in America’s Grow-A-Row. Employees thinned peaches and nectarines in the spring. This organization donates over 1 million pounds of food to hunger agencies in New Jersey.
Frequently Asked Questions
Yes. Northfield Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.
By checks, ATM or debit cards, or through electronic transfers. You can access your money through bill pay or at a local branch location. You can pay others with PopMoney.
Yes. With the mobile app, you can view account balances and transfer money. You can deposit checks, pay bills, and find an ATM.
No. Most Northfield accounts have monthly fees. The fees range from $3 to $25 a month, depending on the accounts. To waive the monthly fees requires keeping a set balance in the account. Those balances range from $500 to $100,000.
Northfield Bank offers a variety of accounts, including some online accounts. The online accounts offer more competitive interest rates than the in-branch accounts. The CDs require $2,500 to open. Other accounts have much lower opening amounts. Most of the accounts do have monthly fees.
Northfield offers security measures that comply with federal law. Their computers have safeguards, and their buildings and files are secure.
The online accounts through Northfield offer competitive interest rates. Their rates are competitive with other online accounts. The in-branch accounts do not offer as competitive rates.
Yes. Northfield offers a checking and money market account for businesses. They offer credit cards, lending options, and other business services. You must open business accounts in a branch location.
The online accounts offer more competitive rates than other bank rates. Everything for the online accounts is online. The other Northfield accounts are similar to regular bank accounts.
One Northfield checking account earns interest. That account must be opened in a branch location.
By phone, email, mail, or by visiting a local branch location.
Yes. Northfield offers free bill pay with their checking accounts.
Yes, at a local branch location. The online accounts do not accept cash. Fund the online accounts by linking an external account.
Specific transfer times are not listed on the website.
Yes. Direct deposits may waive the monthly fee for some Northfield Bank accounts.
Bank Contact Information
581 Main Street, Suite 810Woodbridge, NJ 07095
(833) 301-NFBK
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.