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FLAGSTAR READY SAVINGS

A low-cost savings account that earns interest

Start saving today—for goals, rainy days, and your future self.

Open now →
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What makes this low-cost savings account right for you?

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Beginner-friendly

Easy to use if you're new to saving and want to earn interest.

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Track your progress

With online and mobile banking,1 account alerts, and real-time credit scores.

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$1 to open

The minimum deposit to open this account is only $1.

What features are included in this beginner-friendly savings account?

Avoid the $5 monthly maintenance fee

Choose one of these options to waive your monthly fee.

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Minimum balance

Maintain a $300 average daily balance

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Flagstar Checking Account

Maintain a Flagstar personal checking relationship

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24 or younger

Primary account holder is

24 years old or younger4

How it works

Meeting just ONE of these requirements during each statement period automatically waives your monthly maintenance fee. If none of these conditions are met, a $5 monthly maintenance fee will apply to your account.

Bank on the go with our  Mobile App

Our Mobile App lets you pay bills, send money with Zelle,® deposit checks,2 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 8/1/2026

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 Flagstar Ready Savings

Flagstar Ready Savings is for anyone who’s looking for a quick, simple way to start building their savings. 

Flagstar Ready Savings has a $5 monthly maintenance charge—and three ways to avoid it: 

To get our current rates, call a local branch or 888-248-6423.

 

If you already have a Flagstar Ready Savings account, you can use online or mobile banking.

  • Sign into your account.
  • Select Flagstar Ready Savings.
  • On the next screen, select Account Information to see the current rate and the amount of interest you've earned so far this year.

You may also be interested in:

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Earn up to 3.80% APY6 with a CD

Explore our wide range of CD account terms that can help you earn more interest.
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Earn 3.75% APY7 for 6 months

Get more from your savings with a new Flagstar Ready Savings account.
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Round Up with Flagstar®

Round your purchases up to the next dollar and put the difference into a savings account.

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.

1Not all devices supported. Available for eligible personal and business deposit account customers only.

2Not 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.

3Currency conversion fee may apply to transactions outside the U.S.

4When the primary account owner reaches 25 years old, age can no longer be used to avoid the monthly service fee.

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 8/29/2026 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.

3.75% APY Flagstar Ready Savings – Promotional Rate Disclosure

7Annual Percentage Yield (APY) is accurate as of 8/29/2026. 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. You must make an initial minimum opening deposit of at least $1.00. To qualify for the promotional rate, you must deposit additional funds, to maintain a balance greater than or equal to $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. 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.