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Earn 5.55% APY1 with Promo Flagstar Savings Plus

Grow your savings with our high-interest savings account. Earn 5.55% APY1 guaranteed for the first 5 months.

Let the numbers do the talking.

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5 months at 5.55% APY1

Get a guaranteed promotional rate for 5 months with balances of $25,000 or more.

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No monthly fee with a Flagstar checking account

Avoid the $15 monthly service charge when you have a Flagstar personal checking relationship.

The math is easy. Save more = earn more.

Promo Flagstar Savings Plus is the perfect interest savings account for serious savers. Your savings rate grows when your balance reaches different levels, so you'll earn more by saving more. Plus, you can keep an eye on your savings 24/7 with online and mobile banking.2

  • 5.55% APY1 guaranteed for the first 5 months with balances of $25,000 or more
  • Higher saving interest rates with higher balances
  • Only $1 to open
  • $15 monthly service charge, waived with $10,000 average daily balance OR with a Flagstar personal checking account
  • Flagstar Visa® Debit Card3
  • Online and Mobile Banking2

Bank on the go with Mobile Banking.2

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

So many ways to save

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Prevent overdrafts the easy way.

Link your Flagstar high interest 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.

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Easy to open online. Easy to set up.

You can open an account anytime, day or night. It’s simple, secure, and takes just minutes. Get started with an initial deposit of $1.

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Verify your identity.

We'll perform a quick security check to protect your information. You need to be at least 18 and provide your Social Security number.

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Tell us about yourself.

Here’s where you enter your info, like name and address, any joint owners, and identification (e.g., driver’s license, state ID, or passport).

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Make a deposit.

Add money with an online transfer (have the routing and account numbers for an existing account ready) or at a branch.


After the five-month promotional period, your account’s annual percentage yield (APY) will reset to the standard savings rate at the time. Rates for the non-promo Flagstar Savings Plus are as follows, as of 6/25/2024. Rates may change at any time. 


Account balance APY*
Up to $9,999.99 0.10%
$10,000 to $24,999.99 0.75%
$25,000 to $99,999.99 1.00%
$100,000 and higher 2.00%


*Rates may change at any time. 


Funds in the Promo Flagstar Savings Plus account are FDIC insured in accordance with account ownership limits.

You may add beneficiaries to the Promo Flagstar Savings Plus account.

You are allowed 20 transactions per 24-hour period, and a dollar limit of $1,000 per 24-hour period. Please note that standard fees apply for some transactions, such as withdrawals and balance inquiries from non-Flagstar ATMs.

If your account is closed within six months of opening, you are subject to a $30 early closing fee and possible forfeiture of any interest you’ve earned on the account.

Savings calculators

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Saving for a Goal Calculator

How quickly can you turn your goal into a reality?

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Compound Interest Rate Calculator

What are the benefits of compounding?

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Emergency Fund Calculator

How much should I set aside for emergencies?

Open a high interest savings account today.

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Open an account online

Open an interest savings account online anytime, day or night. It’s easy and secure.

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Visit a branch

We’ll walk you through it. Stop by the nearest branch to open an interest savings account in person.

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Earn up to 5.15% APY6 with a CD

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

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Round Up with FlagstarTM

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.

Promo Flagstar Savings Plus 5.55% APY 

1Annual Percentage Yield (APY) is accurate as of 6/25/2024. Tier 1 $25,000.00 - $999,999,999.99 features an annual percentage yield of 5.55%. Tier 2 $0 - $24,999.99 features an annual percentage yield of 0.10%. Initial minimum opening deposit to earn the higher interest rate on the Promo Flagstar Savings Plus account is $25,000.00 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 60 days of the approval date and (ii) early account closure fee and reclamation of interest paid may be imposed for accounts closed within 180 days. The 5.55% APY is guaranteed for the first 5 months after account opening. After the promotional period, the account will earn the posted interest rate of the Flagstar Savings Plus accounts, which is a variable rate and subject to change. 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. This charge may be waived if the account is linked to any Flagstar Bank personal checking account. Not available for public units. 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.

2Not all devices supported. Available for eligible personal and business deposit account customers only.

3This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

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) is accurate as of 6/25/2024. Fees could reduce earnings. Withdrawals may result in imposition of applicable early withdrawal penalties. $500 minimum balance. Maximum deposit is $10,000,000. Funds currently deposited in accounts at Flagstar Bank are not eligible for the promotional interest rate. Additional deposits not allowed during CD term. Not available for public units. Certain restrictions may apply. Offer subject to change or cancellation at any time without notice. Maturing CDs are eligible for this promo rate. Must present offer at account opening. Limited-time offer. Area restrictions may apply. Please contact your local branch for more information.