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Flagstar Elite Checking

Experience red carpet banking with this interest checking account.

Elite Checking gives you all the extras.

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Earn interest on your checking account

To keep your money working for you.

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Preferred CD rates1

Enjoy the benefits of better pricing exclusively for Elite Checking clients.

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Higher limits

Move more money with a higher ceiling on mobile deposits2 and transfers between other banks.

Bank like a VIP with interest checking

Looking for a checking account that matches your lifestyle? Open an Elite Checking account to get all the features and perks you deserve, like higher rates and VIP service.

Account features

  • Premium interest rates for CDs1
  • Optional overdraft protection
  • Dedicated client service line
  • Higher transfer and mobile deposit limits2
  • Five Non-Flagstar ATM fees waived each statement cycle if you use any out-of-network U.S. ATM3
  • Free box of standard checks every year
  • Pay with confidence

Requirements and fees

  • $50 minimum opening deposit
  • $1,000 minimum balance to earn monthly interest
  • $15 monthly service charge, waived when you maintain a $25,000 combined monthly average balance in your Flagstar personal deposit accounts4

Swipe it. Type it. Tap it. Scan it.

Choose your favorite way to pay with a Flagstar Visa® Debit Card.5 Who knew paying for things could be so much fun? 

Maximize your interest checking experience

Every Flagstar checking account comes with easy ways to manage and
move your money.

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Flagstar Visa® Debit Card5

A secure, convenient way to pay wherever Visa is accepted—which is practically everywhere.

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Online and Mobile Banking6

Bank on your schedule. Make deposits7 and transfers, pay bills or people—anytime, anywhere.

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Over 400 Branches and Free Access to 56,000+ ATMs8

Find the closest branch or an ATM in the Allpoint or Presto global network.

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Send Money with Zelle®

All you need is the recipient’s email or U.S. mobile number.

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My Credit Score

Check your score anytime and get tips on how to improve it. 

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Money Center 

Get the big picture of your finances in one secure place.

Bank on the go with Mobile Banking.6

Mobile Banking lets you pay bills, move money, deposit checks,7 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.9

FAQs for Flagstar Elite Checking

Many checking accounts don’t pay interest. However, an interest-bearing checking account earns interest every month. The amount of interest depends on the financial institution, the checking account, and the account balance throughout the month.


For example, Flagstar Elite Checking is our interest-bearing checking account. It takes just $50 to open an account, but you’ll need to meet the $1,000 minimum balance requirement to earn interest.


Before you open any checking account—interest-bearing or not—be sure you understand the fees and how to avoid them, the minimum balance requirements, and any other benefits or limitations.

Most checking accounts have the same core features, such as checks and online access to your account. (To see all the benefits of Flagstar checking accounts, visit our Checking Accounts page.)


Many checking accounts do not earn interest, but an interest-bearing checking account does. The interest rate varies and depends on the financial institution and the account.


Before you open an interest checking account, ask about the fees and requirements to make sure it’s a good fit for the way you bank.

The amount of interest you could earn with an interest-bearing checking account varies by financial institution and account. For example, our Elite Checking account uses a tiered interest rate up to a maximum amount, which means a higher balance will earn a higher rate.


If you know the interest rate of your interest-bearing checking account, use our Compound Interest Rate Calculator to learn how much your checking account balance could grow in a day, a month, a quarter, or a year.

When someone opens a checking account, Flagstar may do a soft credit pull, which will not affect their credit score.

Apply for an interest-bearing account today

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Visit a branch

We’ll walk you through it. Stop by the nearest branch to open an account in person.

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Earn 5.55% APY10 with Promo Flagstar Savings Plus

Grow your savings with 5.55% APY10 guaranteed for the first 5 months.

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Flagstar Visa® Credit Cards

Choose a credit card with the perks you want, like cash back, rewards, bonuses, and more.

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Online Banking

It’s mission control for your money. Track what's coming in and going out 24/7, so you’re always in the know.

We reserve the right to change account benefits at any time without notice. Certain restrictions may apply. Please see the complete Disclosure Guide for additional details.

Interest rates are tiered to a maximum amount.

1 Excludes 10-Day CDs. Offer available to customers enrolled in Flagstar Elite Relationship Program only.

2Higher limits apply within 30 calendar days if you are an existing customer or 60 calendar days if you are a new customer.

3Fees may be charged by non-Flagstar ATM owners.

4Monthly maintenance service charge waived when the combined average daily Balance of the Lead Account and any Linked Account(s) is equal to or greater than $25,000. Linked account must be enrolled in Flagstar Elite Relationship Program. See account disclosure for additional information.

5This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

6Not all devices supported. Available for eligible personal and business deposit account customers only.

7Not all devices supported. Available for eligible personal and business checking and savings account customers only. Must be an active mobile banking user. Must be a customer for a minimum of two business days. Accounts must be in good standing.

8Currency conversion fee may apply to transactions outside the U.S.

9Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play, and the Google Play logo are trademarks of Google Inc.

Promo Flagstar Savings Plus 5.55% APY 

10Annual Percentage Yield (APY) is accurate as of 7/19/2024. Tier 1 $25,000.00 - $999,999,999.99 features an annual percentage yield of 5.55%. Tier 2 $0 - $24,999.99 features an annual percentage yield of 0.10%. Initial minimum opening deposit to earn the higher interest rate on the Promo Flagstar Savings Plus account is $25,000.00 and must be “New Money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Additionally, (i) account must be funded within 60 days of the approval date and (ii) early account closure fee and reclamation of interest paid may be imposed for accounts closed within 180 days. The 5.55% APY is guaranteed for the first 5 months after account opening. After the promotional period, the account will earn the posted interest rate of the Flagstar Savings Plus accounts, which is a variable rate and subject to change. A maintenance service charge of $15 will be imposed every statement cycle if the average daily Collected Balance in the account is less than $10,000. This charge may be waived if the account is linked to any Flagstar Bank personal checking account. Not available for public units. Fees may reduce earnings. Personal accounts only. Limited time offer. Area restrictions may apply. If you are a Private Bank client, please contact your Private Client Group to enroll.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.