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Before you go
FLAGSTAR ELITE CHECKING
An interest checking account with exclusive perks
Enjoy a premium checking experience with interest earnings, enhanced transfer and mobile deposit limits,1 and dedicated client support.
Why choose this interest checking account?
Checking that earns interest
Maintain a $1,000 minimum balance to earn monthly interest.
Access to preferred CD rates2
Earn a higher interest rate on a CD when you open this account.
Exclusive features and amenities
Enjoy higher limits on transfers and mobile deposits,1 as well as a dedicated client service line.
What features are included when you open an interest checking account?
- 24/7 Online and Mobile Banking3 – check balances, transfer funds, monitor your credit, and manage all your accounts in one convenient dashboard.
- Debit Card Controls – instantly set spending limits, turn your card on/off, and protect against fraud.
- Custom Account Alerts – get real-time text or email notifications about deposits, withdrawals, and account activity.
- Send money with Zelle®and pay bills online – transfer money in minutes and schedule bill payments with no fee.
- Mobile Check Deposit3 – deposit checks quickly and securely using your smartphone.
- Automatic Savings with Round Up with Flagstar® – round up debit purchases and grow your savings effortlessly.
- Free ATM Access Nationwide – enjoy surcharge-free withdrawals at 56,000+ Flagstar ATMs4 and over 300 branches.
Avoid the $15 monthly maintenance fee
Choose ONE of these options to waive the fee.
Military service
You are an active-duty U.S. military member or a veteran
Keep at least $25,000 in your accounts
An average daily balance of $25,000 or more in combined Flagstar linked personal deposit and/or wealth services accounts5
How it works
Meeting ONE of these requirements during a statement cycle waives the fee. If NONE of these conditions are met, a $15 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,3 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.
FAQs for Flagstar Elite Checking
Yes! Flagstar is an FDIC-insured bank, which means customer deposits are insured up to at least $250,000 per depositor for each deposit category.7
Many checking accounts don’t pay interest. However, an interest-bearing checking account earns interest every month. The amount of interest depends on the financial institution, the checking account, and the account balance throughout the month.
For example, Flagstar Elite Checking is our interest-bearing checking account. It takes just $50 to open an account, but you’ll need to meet the $1,000 minimum balance requirement to earn interest.
Before you open any checking account—interest-bearing or not—be sure you understand the fees and how to avoid them, the minimum balance requirements, and any other benefits or limitations.
Most checking accounts have the same core features, such as checks and online access to your account. (To see all the benefits of Flagstar checking accounts, visit our Checking Accounts page.)
Many checking accounts do not earn interest, but an interest-bearing checking account does. The interest rate varies and depends on the financial institution and the account.
Before you open an interest checking account, ask about the fees and requirements to make sure it’s a good fit for the way you bank.
The amount of interest you could earn with an interest-bearing checking account varies by financial institution and account. For example, our Elite Checking account uses a tiered interest rate up to a maximum amount, which means a higher balance will earn a higher rate.
If you know the interest rate of your interest-bearing checking account, use our Compound Interest Rate Calculator to learn how much your checking account balance could grow in a day, a month, a quarter, or a year.
$15 monthly service charge, which you can avoid by maintaining a $25,000 combined monthly average balance in your Flagstar personal deposit and/or investment accounts. Your linked account(s) must be enrolled in the Flagstar Elite Relationship Program.
When someone opens a checking account, Flagstar may do a soft credit pull, which will not affect their credit score.
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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.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.