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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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Which personal savings account is right for you?

3.20% APY3 on balances of $25,000 or more

Flagstar Performance Savings

Open a high-interest savings account with our best rate. Enjoy a low minimum opening deposit and no monthly fees when you meet certain requirements.

  • Competitive rate – earn 3.20% APY3 with balances of $25,000 or more
  • 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
  • 24/7 account management – check balances, deposit checks from your phone,4 and get real-time account alerts
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A great way to Start Saving

Flagstar Ready Savings

Start your savings journey with this online savings account. Take advantage of the low monthly fee, which can be waived, and enjoy 24/7 access to Online and Mobile Banking.

  • Interest-bearing – earn interest on your deposits
  • 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
  • 24/7 account management – check balances, deposit checks from your phone,4 and get real-time account alerts
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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.

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,4 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.5

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.

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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. 

LIMITED TIME OFFER

Lock in a CD rate up to 3.80% APY6

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

Get started
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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. Owners of non-Flagstar ATMs may change a fee, which, upon request, can be reimbursed up to $20 a month.

Flagstar Performance Savings

3Annual Percentage Yield (APY) is accurate as of 6/10/2026. 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.

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.

6Annual Percentage Yield (APY). 3.80% APY is accurate as of 6/10/2026 and available as a 12-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.