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SAVINGS ACCOUNTS

Compare savings accounts and open online

Open a savings account with Flagstar Bank and start building your future today. Enjoy secure, FDIC-insured1 savings, with competitive bank savings rates. Access over 56,000 ATMs nationwide,2 along with 24/7 Online and Mobile Banking.

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Takes ~5 minutes | Secure application

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Which personal savings account is right for you?

LIMITED TIME OFFER FOR NEW SAVINGS CUSTOMERS

3.75% APY3
on balances of $10,000+ for 6 months

Flagstar Ready Savings

Best for: Maximizing earnings on balances of $10,000+ over the next 6 months.

  • Our best savings rate – Earn 3.75% APY3 for the first 6 months on balances of $10,000+
  • Low minimum opening deposit – only $1 to open
  • Low monthly fee, easy to waive – $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
  • FDIC-insured savings – FDIC-insured up to at least $250,000 per depositor1
Start saving now →
Learn more

3.20% APY4
on balances of $25,000+

Flagstar Performance Savings

Best for: Building savings over time on larger balances with a competitive ongoing rate.

  • Competitive rate – earn 3.20% APY4 on balances of $25,000+
  • Low minimum opening deposit – only $1 to open
  • Ways to waive monthly fee – $15 monthly fee waived when you maintain at least a $10,000 average daily collected balance OR with Flagstar personal checking relationship
  • FDIC-insured savings – FDIC-insured up to at least $250,000 per depositor1
Start saving now →
Learn more

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.

What features are included in online savings accounts?

Bank on the go with our  Mobile App

Our Mobile App lets you pay bills, send money with Zelle,® deposit checks,5 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.6

4.7 out of 5 on the Apple App Store as of 6/1/2026

4.7 out of 5 stars
visit the following URL to download our app from the apple store: https://apps.apple.com/us/app/flagstar-mobile-banking/id972805390 or Visit the following URL to download our app the Android URL https://play.google.com/store/apps/details?id=com.mynycb.nycb&hl=en_US&gl=US

Scan this code with your phone’s camera to download the Flagstar Mobile App from the Apple App Store or Google Play Store.

Learn more
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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
  • Valid identification (such as driver's license, state ID, or passport)

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.

2Currency conversion fee may apply to transactions outside the U.S.

Flagstar Ready Savings

3Annual Percentage Yield (APY) is accurate as of 6/30/2026. 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. An initial minimum opening deposit of at least $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. Flagstar Bank employees are not eligible for this offer. 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 6/30/2026. 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 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.

5Not 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.

6Apple 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.