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SAVINGS ACCOUNTS

Compare savings accounts and open online

Take the next step toward your financial goals with a Flagstar Bank online savings account. Your deposits are FDIC-insured,1 and you can earn a competitive savings rate while keeping your money accessible. With 24/7 Online and Mobile Banking, managing your account is simple and convenient.

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FDIC insured1

Which personal savings account is right for you?

BALANCES UNDER $10,000

FLAGSTAR READY SAVINGS

0.05% APY2

Start your savings journey with this low-cost savings account.

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$1 to open

Monthly fee: $5

Avoid the fee

SPECIAL LIMITED-TIME OFFER

BALANCES OF $10,000+

FLAGSTAR READY SAVINGS

3.75% APY3

Special offer for new savings customers. Maximize earnings on balances of $10,000+ over the next 6 months.

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$1 to open  |  $10,000+ to earn 3.75% APY3

Monthly fee: $5

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BALANCES OF $25,000+

FLAGSTAR PERFORMANCE SAVINGS

3.20% APY4

Build savings over time on larger balances with a competitive ongoing rate.

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$1 to open  |  $25,000+ to earn 3.20% APY4

Monthly fee: $15

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Ready to save smarter for healthcare or for your children?

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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.

More ways to help your money grow

LIMITED-TIME CD RATE

Lock in a CD rate up to 4.00% APY5

Rates this high won’t last forever. Don’t miss out. Open a CD today.

Get started
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Everything included with your account

Digital banking tools included with all online savings accounts.

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Round up with Flagstar™

Round up debit card purchases from a Flagstar checking account and grow your savings effortlessly

Desktop and mobile device

Online Banking and Mobile App

Check balances, monitor your credit, and manage all your accounts in one place with Online and Mobile Banking6

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Mobile Check Deposit7

Deposit checks quickly and securely using your smartphone

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Custom Account Alerts

Get real-time text or email notifications about deposits, withdrawals, and account activity.

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4.7 out of 5 stars

4.7 / 5 App Store rating as of 9/1/2026

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 and account type.

 

Flagstar savings accounts include:

Most banks require a completed application, completed in a branch or online, that includes personal information. This often includes:

  • Valid ID 
  • Social Security number 
  • Home address
  • Contact information 
  • Initial deposit

When you open a Flagstar savings account online or in a branch, please have the following information available:

  • Name
  • Address
  • Mobile phone number (to verify your identity if you open an account online)
  • Date of birth
  • Social Security number or other identification number

FDIC insurance protects savings accounts (up to $250,000) in insured U.S. banks.

 

Flagstar is an FDIC-insured bank, which means customer savings accounts are insured up to at least $250,000 per depositor.1

Interest on savings accounts is usually calculated daily using your balance and the account’s APY.

 

Interest on Flagstar savings accounts compounds daily and is credited monthly. This means you earn interest on your deposits and on the interest you have already earned.

Monthly fees and minimum balance requirements vary by account. Many savings accounts allow you to avoid fees by maintaining a certain balance or meeting other criteria.

 

Here is how Flagstar handles monthly account fees and minimum balance requirements on our savings accounts:

  • Flagstar Ready Savings - $5 monthly fee waived when you maintain at least a $300 average daily collected balance OR with Flagstar personal checking relationship OR account owner is 24 or younger
  • Flagstar Performance Savings - $15 monthly fee waived when you maintain at least a $10,000 average daily collected balance OR with Flagstar personal checking relationship
  • Flagstar Perfect Health Savings - No monthly fee
  • Flagstar Kids Savings - No monthly fee

A checking account is used for everyday spending and payments, while a savings account is used for saving and earning interest over time. 

Related to Flagstar savings accounts

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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.
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Savings Calculators

Discover how much you should be putting aside to meet your goals with our savings calculators.
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Raising money-smart kids in a (mostly) cashless world

Set your kids up for a lifetime of smart spending, saving, and giving. Get started with these tips.

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.

1Visit fdic.gov for more information about FDIC insurance coverage.

Flagstar Ready Savings

20.05% Annual Percentage Yield (APY) applies to balances of $0.01 or greater and is accurate as of 9/4/2026. The interest rate(s) and annual percentage yield(s) are variable and may change at any time after the account is opened. You must make an initial minimum opening deposit of at least $1.00. A maintenance service charge of $5 will be imposed every statement cycle if the average daily Collected Balance in the account falls below $300. 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 with a Balance of at least $.01. This fee will not apply to accounts whose primary owner is 24 years of age or under. The average daily Collected Balance is calculated by adding the Collected Balance in the account for each day of the period and dividing that figure by the number of days in the period. Interest deposited from a Certificate of Deposit during any monthly cycle will not be included in the calculation of average daily Collected Balance until the following monthly cycle for purposes of assessing this fee. The interest will begin to accrue on the first Business Day after the Business Day you deposit noncash items (for example, checks) into your account. The interest will be credited into this account monthly and will be compounded monthly.

3.75% APY Flagstar Ready Savings – Promotional Rate Disclosure

3Annual Percentage Yield (APY) is accurate as of 9/4/2026. A promotional annual percentage yield of 3.75% is available on balances greater than or equal to $10,000 for the first 180 days after account opening. Balances at or below $9,999.99 do not qualify for this promotional rate and are subject to the current non-promotional interest rate applicable to this account type. At the end of the 180-day promotional period, the interest rate and APY will revert to the then-posted non-promotional rate(s) applicable to this account type. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. To qualify, you must be a new personal savings client of Flagstar Bank and open a Flagstar Ready Savings account. You must make an initial minimum opening deposit of at least $1.00. To qualify for the promotional rate, you must deposit additional funds, to maintain a balance greater than or equal to $10,000 is required and must be "new money," which is defined as money that is not currently on deposit in any Flagstar Bank account; money moved from any Flagstar Bank affiliate or subsidiary account or funded from a Flagstar/affiliate loan or line of credit does not qualify. For purposes of this offer, funds from maturing certificate of deposit accounts held at Flagstar Bank will be considered eligible. The account must remain open for the full 180-day promotional period.

 

This offer is limited to one promotion per household. If any signer on this account has previously received a savings promotion from Flagstar Bank, you are ineligible for this offer. This offer cannot be combined with any other offers or promotions. An early account closure fee may be imposed for accounts closed within 180 days. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee eligibility. All account applications are subject to our normal approval process. Personal accounts only. Area restrictions may apply.

Flagstar Performance Savings

4Annual Percentage Yield (APY) is accurate as of 9/4/2026. 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 3.20%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 3.20%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 3.20%. Tier 6 $500,000.00+ features an annual percentage yield of 3.20%. 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. 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 with a balance of at least $.01. Fees may reduce earnings. Offer subject to change or cancellation at any time without notice. Receiving this offer does not guarantee eligibility. All account applications are subject to our normal approval process. Personal accounts only. Area restrictions may apply.

5Annual Percentage Yield (APY). 4.00% APY is accurate as of 9/4/2026 and available as an 8-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. 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.

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.