Do you want to see a complete review of the Northern Bank certificate of deposit? From Responsible Economy we have carried out an analysis of all its features: interest rate, terms, fees and everything you need to know. You will also be able to see a comparison of the best certificates of deposit in the United States in 2023 and an explanatory video. Welcome!
Explicative video
We have made a video summarizing in a very simple way all the features of the Northern Bank Certificate of deposit. If you like our content, don’t hesitate to support us with a subscription and thus receive videos every day:
Features
In this section we show you in detail each of the characteristics:
Interest rate
The interest rate of the certificates of deposit varies according to the terms chosen. Here is a table with the different terms and interest rates:
| Maturity Ranges | Rates up to |
|---|---|
| 5 months | 4% APY |
| 10 months | 4% APY |
| 17 months | 3.75% APY |
| 48 months | 0.65% APY |
Northern Bank does not offer a competitive certificate of deposit because the maximum interest rate you can get is 4% APY.
Fees
Always look at the annual or monthly maintenance fees. This certificate of deposit has no maintenance fees and is free to open.
Minimum deposit
This certificate of deposit requires a minimum of $500.
Best certificate of deposit in 2023
We have made a ranking with the best certificates of deposit that we can open in the United States in 2023:
- 5% APY
- Minimum deposit: $0
- Term: 11 months
- Member FDIC
- 4,40% APY
- Minimum deposit: $5000
- Term: 12 months
- Member FDIC
- 4,65% APY
- Minimum deposit: $1000
- Term: 13 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $0
- Term: 14 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,55% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $0
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
Pros and cons
After seeing all the features of the Northern Bank certificate of deposit and which are the best CDs in the United States, we have made a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| No fees | Minimum deposit $500 |
| 4% APY | |
Requirements
To open this certificate of deposit you must meet the following requirements:
- Live in the United States
- Must be over 18 years old
- Have a Social Security
- American account number
Conclusion
After our review, our conclusion is that Northern Bank does not offer a competitive certificate of deposit because the maximum interest rate you can get is 4% APY and a minimum of $500 is required.
Frequent questions
Now we answer all the questions you may have about the Northern Bank certificate of deposit:
More information about Northern Bank
Here is a table with information of interest about Briodirect:
| Information | Description |
|---|---|
| Website | https://nbtc.com/ |
| https://twitter.com/northernbankma | |
| https://www.facebook.com/NorthernBankMA/ | |
| https://www.linkedin.com/company/northern-bank-ma/ |
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Updated the day 15 May, 2023 by Alfredo Barandiarán
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