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Retirement and Educational Savings Accounts

Start here to plan the future you desire for yourself and your family. Tap into our expertise to discover low-cost, high-quality financial solutions that bring clarity and precision to the path ahead.

Feel confident about your financial future

Your financial future is our priority. Save for retirement and educational expenses with a tax-advantaged1 account with interest paid monthly, preferred rates,

and no annual fees.

Tax Free Deposits

Traditional IRA

Take advantage of tax-free deposits and tax-deferred growth with this individual retirement account.1

  • Suitable for those who expect to be in a lower tax bracket when they retire.
  • Make tax-free contributions to your account.
  • Your deposited funds will grow tax-deferred. 
  • Receive distributions without penalty when over the age of 59 and 1/2.
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Tax free distributions

Roth IRA

While deposits are not tax-exempt, you'll enjoy tax-free distributions down the road.1

  • Ideal for those who expect to be in a higher tax bracket when they retire.
  • Pay taxes on deposits now to enjoy tax-free distributions later.
  • Your deposited funds will grow tax-free.
  • Pay no taxes or penalties on distributions when over the age of 59 and 1/2.
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Save for college

Coverdell Education Savings Account

Save smarter with a tax-advantaged account to make the most of your education savings.1

  • A great option for families or individuals looking to save for school and college expenses.
  • Your deposited funds will grow tax-free.
  • Qualified withdrawals for education expenses are tax and penalty free.
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PerfectHealth Savings

Save for healthcare expenses with PerfectHealth Savings, a health savings account that complements your high deductible health plan.
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Earn up to 4.65% APY2 with a CD

Explore our wide range of CD account terms that can help you earn more interest.
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Earn 4.90% APY3 with Flagstar Performance Savings

Grow your money with a great savings rate.

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.

1Consult your tax advisor for details.

2Annual Percentage Yield (APY). 4.35% APY is accurate as of 10/12/2024 and available as a 13-month term. 4.65% APY is accurate as of 10/12/2024 and available as a 7-month term. Fees could reduce earnings. Withdrawals may result in imposition of applicable early withdrawal penalties. $500 minimum opening deposit required. Maximum deposit is $10 million. 'New Money' is defined as funds that are not currently deposited in any account at Flagstar Bank. Not available for public units or Business CDs. Certain restrictions, including area restrictions, may apply. Offer subject to change or cancellation at any time without notice. Must present offer at account opening. Limited-time offer. Important information will be provided to you in the disclosures you receive during the account opening process. Please contact your local branch for more information.

Flagstar Performance Savings

3Annual Percentage Yield (APY) is accurate as of 10/12/2024. Tier 1 $0 – $9,999.99 features an annual percentage yield of 0.10%. Tier 2 $10,000.00 – $24,999.99 features an annual percentage yield of 0.10%. Tier 3 $25,000.00 – $49,999.99 features an annual percentage yield of 4.90%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 4.90%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 4.90%. Tier 6 $500,000.00+ features an annual percentage yield of 4.90%. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. Initial minimum opening deposit to earn the higher interest rate on the Flagstar Performance Savings account is $25,000 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 90 days of the approval date, and (ii) early account closure fee may be imposed for accounts closed within 180 days. 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. The maintenance service charge will be waived if you are the tax reported owner on this account and you are an owner on a Flagstar personal checking account. 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.