FDIC-Insured—Backed by the full faith and credit of the U.S. Government
CERTIFICATES OF DEPOSIT (CD)
Earn a competitive rate with Flagstar certificate of deposit (CD) accounts. Our CDs offer fixed rates, FDIC-insured savings, and terms designed to help you grow your money with confidence.
Open with just $500
FDIC protection up to $250k2
3.70% APY3
Make your money work harder with this great CD rate.
LIMITED TIME ONLY
3.80% APY1
Keep your money growing longer with this competitive CD rate.
3.70% APY4
Your CD rate is locked in for 24 months, even if rates go down.
Use our CD interest calculator to see how much your savings could grow in a CD bank account.
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
Scan this code with your phone’s camera to download the Flagstar Mobile App from the Apple App Store or Google Play Store.
A certificate of deposit (CD) lets you earn a fixed interest rate by keeping your money deposited for a set period of time. CDs usually offer higher rates than traditional savings accounts.
A CD earns a fixed interest rate over a set period of time (term), which can range from days to years. When you open a CD, you agree to leave your money in the account until the CD matures. At maturity, you can withdraw your funds, renew the CD, choose a new term, or opt for a different savings option. Early withdrawals are allowed but may incur a penalty that reduces your interest earned.
FDIC insurance protects CDs (up to $250,000) in insured U.S. banks.
Flagstar is an FDIC-insured bank, which means customer CDs are insured up to at least $250,000 per depositor.3
Yes, the interest you earn on a CD is taxed as ordinary income, just like the interest on a savings account.
In January, if you earned $10 or more in interest, Flagstar will send you an IRS Form 1099-INT showing the interest your CD earned the previous year so you can report it on your tax return.
No, but you can open another CD if you have enough funds on hand to meet the minimum opening deposit.
APY stands for annual percentage yield. It’s the amount of interest your CD account earns in a year.
The penalty varies by bank and CD term, but it is typically calculated as a set number of months’ worth of interest.
At Flagstar, the fee is a certain amount of interest on the principal amount you withdraw from your CD account, whether that interest is earned or unearned. (Unearned interest is the interest your CD has earned but has not yet been received.)
The early withdrawal fees are based on the length of the CD term:
The fastest way is to renew your CD online. Here’s how:
You can also visit a Flagstar branch to renew your CD in person.
A CD ladder is a way to earn a higher rate while still having regular access to your money. Instead of putting all your money into one certificate of deposit, you’d open several CDs with different term lengths. For example:
The longer-term CDs typically come with a higher interest rate, while the shorter-term ones provide regular access to your funds. When a CD term ends, you can withdraw the money or renew the CD to keep the ladder going.
Note: Your CD ladder can include shorter or longer terms than those used in our example. Choose whatever works best for you.
Certificates of Deposit are eligible for renewal during the grace period or during the post maturity period within Online Banking.
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.
