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Earn 4.90% APY1 with Flagstar Performance Savings

Grow your savings with our high-interest savings account.

Amplify your savings.

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Start saving at 4.90% APY1

Get a great savings rate 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.

Flagstar Performance Savings is the perfect interest savings account for serious savers. Plus, you can keep an eye on your savings 24/7 with online and mobile banking.2

Account features

  • 4.90% APY1 with balances of $25,000 or more
  • FDIC-insured up to at least $250,000 per depositor3
  • Flagstar Visa® Debit Card4
  • Online and Mobile Banking2
  • The interest will be compounded and credited into account monthly

Requirements and fees

  • Only $1 to open
  • $15 monthly service charge, waived with $10,000 average daily balance OR with a Flagstar personal checking account

FAQs

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

You may add beneficiaries to the Flagstar Performance Savings 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.

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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.

Open an account
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Rather open an account in person? Find your nearest branch.

Bank on the go with Mobile Banking.2

Mobile Banking lets you pay bills, move money, 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

Learn more
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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?

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Earn up to 4.65% APY7 with a CD

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

Explore our personal checking account options to find the right fit for you. 
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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.

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.

Flagstar Performance Savings

1Annual Percentage Yield (APY) is accurate as of 10/12/2024. 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 4.90%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 4.90%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 4.90%. Tier 6 $500,000.00+ features an annual percentage yield of 4.90%. 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.

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

3Visit fdic.gov for more information about FDIC insurance coverage.

4This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

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.

7Annual Percentage Yield (APY). 4.35% APY is accurate as of 10/12/2024 and available as a 13-month term. 4.65% APY is accurate as of 10/12/2024 and available as a 7-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.