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Savings Accounts

Let's turn wishful thinking into active doing. Reach your goals with a Flagstar savings account.

Savings accounts for goals, rainy days, and peace of mind

Start saving for your goals, whether they are big or small, near or far off. We offer a variety of savings accounts to fit your needs, including high-interest savings, health savings, kid savings, and club savings accounts. Choose from a range of unique features, great rates, and easy ways to avoid fees. Need a hand? Our talented bankers are ready to help.

4.50%
APY1 at account opening

Flagstar Performance Savings

Grow your money faster with a great savings rate.

  • 4.50% APY1 with balances of $25,000 or more
  • $0 monthly fee with Flagstar personal checking relationship
  • Just $1 to open
Open an account
Learn more

Start Saving

Flagstar Ready Savings

Keep your money growing so you’re ready for anything. 

  • Earn interest 
  • $0 monthly fee with Flagstar personal checking relationship
  • Just $1 to open
Open an account
Learn more

More great savings accounts for you

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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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Flagstar Kids Savings

Let your child practice spending and saving with this no-cost, kid-friendly account.
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Club Savings

Save for your annual vacation, holiday expenses, or whatever you want with Club Savings.
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Earn up to 4.40% APY2 with a CD

Explore our wide range of CD account terms that can help you earn more interest.

Bank on the go with Mobile Banking.3

Mobile Banking lets you pay bills, move money, deposit checks,4 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.5

Learn more
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So many ways to save

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Prevent overdrafts the easy way.

Link your Flagstar savings account to automatically transfer funds to cover overdrafts.

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Earn interest on your savings.

Your money works harder with interest on your savings.

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Convenient ways to make a deposit

It's your choice: online, at a Flagstar ATM or branch, via mobile deposit4 or direct deposit,  by phone, with automatic transfers, and more.

Compare savings accounts

Flagstar Ready Savings

Open an account

Flagstar Performance Savings

Open an account

Minimum opening deposit

$1

$1

Interest bearing

  •  

4.50% APY1  with balances of $25,000 or more

Maintenance service charge

$3

$15

Ways to avoid maintenance service charge

  • Maintain at least a $300 average daily balance OR
  • With Flagstar personal checking relationship OR
  • Account owner 18 or younger

  • Maintain at least a $10,000 average daily balance OR
  • With Flagstar personal checking relationship

FAQs for Savings Accounts

A savings account is a place to keep your money until you need to use it. It usually earns interest, but the amount can vary by bank (or other financial institution) and by account.

You can open a Flagstar savings account at a Flagstar branch, by phone, and, with some accounts, on our website. Then you add money as you’d like, let it earn interest, and use it when you need. There are different types of savings accounts for different needs. Make sure you understand the rules and fees for the account you open so you won’t be surprised later.

To open a Flagstar savings account online, please have the following information available:

  • Name
  • Address
  • Mobile phone number
  • Date of birth
  • Social Security number or other identification number
  • Valid identification (such as driver's license, state ID, or passport)

Yes! Flagstar is an FDIC-insured bank, which means customer savings account deposits are insured up to at least $250,000 per depositor for each deposit category.

Savings calculators

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Compound Interest Rate Calculator

What are the benefits of compounding?
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College Cost Estimator

How much will college cost?
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Emergency Fund Calculator

How much should I set aside for emergencies?
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HSA Contribution Calculator

How much money could you save with an HSA?
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Certificate of Deposit Calculator

How much could your savings grow in a CD account?

Open a personal savings 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.

You may also be interested in:

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Checking Accounts

Explore our personal checking account options to find the right fit for you. 
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Round Up with Flagstar®

This debit card feature will round up transactions to the nearest dollar and deposit the spare change into your savings account. It's zero-effort savings.
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CD vs. High-Yield Savings: Choose the right account for your goals

Ready to upgrade your savings account? Let’s compare options available to help you earn more interest on your savings.

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.

Flagstar Performance Savings

1Annual Percentage Yield (APY) is accurate as of 12/8/2024. 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 4.50%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 4.50%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 4.50%. Tier 6 $500,000.00+ features an annual percentage yield of 4.50%. 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.

2Annual Percentage Yield (APY). 4.25% APY is accurate as of 12/8/2024 and available as a 13-month term. 4.40% APY is accurate as of 12/8/2024 and available as a 7-month term. 3.75% APY is accurate as of 12/8/2024 and available as a 24-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.

3Not all devices supported. Available for eligible personal and business deposit account customers only.

4Not 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.

5Apple 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.