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FLAGSTAR MONEY MARKET

A money market account with easy access to your savings

With a money market savings account, you'll earn a higher interest rate that continues to grow.

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Why customers choose a money market account from Flagstar

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Tiered interest rates

The higher your balance, the more you'll earn.

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Unlimited access

Access your money anytime with no restrictions.

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Check writing

Enjoy the convenience of being able to write checks from this account.

Grow your savings faster with a money market savings account

Open a Flagstar Money Market account and get a better interest rate and bigger savings. This money market savings account includes the ability to write checks, so you can access your funds anytime and keep earning a great rate. Plus, with a tiered interest rate you will earn more as your account balance grows.

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.4

4.7 out of 5 on the Apple App Store as of 6/1/2026

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.

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Money market account FAQs

It’s a savings account that combines features of both savings and checking accounts. Like savings accounts, money market accounts pay interest, although at a generally higher rate than a savings account. Interest on money market accounts is typically tiered, which means the rate increases when the balance reaches specific amounts.

 

Like checking accounts, money markets allow check writing and usually come with a debit card.

With a Flagstar Money Market account, there is a $2,500 minimum deposit to earn interest. After you reach or surpass that amount, your account will earn interest that is compounded based on the deposit agreement. We offer tiered interest rates up to $10 million.

Yes! Flagstar is an FDIC-insured bank, which means customer deposits, including deposits in money market savings accounts, are insured up to at least $250,000 per depositor for each deposit category.

There are several ways to make a deposit into your money market account:

  • Deposit a check through our mobile app, Flagstar Mobile Banking.
  • Visit or use the ATM at a Flagstar branch.
  • Transfer funds through online banking or by calling 888-248-6423.
  • Set up direct deposit with your employer, Social Security, or other regular income.
  • Request a one-time electronic debit from your account at another financial institution to your Flagstar account.
  • Complete a wire transfer.
  • Send a check to the following address: 

                    102 Duffy Ave.

                    Hicksville, NY 11801

                    Attn: Bank by Mail

Money market accounts typically pay higher interest rates than savings accounts and usually require a higher minimum balance.

 

Unlike savings accounts, money market accounts usually offer check writing and debit cards.

Yes. Interest on money market accounts, as well as regular savings accounts, is taxable as earned income.

That depends on several things, but here is some general advice:

  • If you’d like to set aside a lump sum, and you don’t plan to touch it for a certain number of months or years, a CD would likely be your best bet.
  • If you want an account that lets you make deposits and withdrawals, you’re probably better off with a money market .
  • Money markets give you more flexibility, but CDs typically offer higher rates. Before opening either type of account, check the current rates.

You may also be interested in:

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Earn 3.20% APY5 with Flagstar Performance Savings

Grow your money with a great savings rate.
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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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Checking Accounts

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

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.

1This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

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

3Not 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.

4Apple 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.

Flagstar Performance Savings

5Annual Percentage Yield (APY) is accurate as of 6/11/2026. 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 3.20%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 3.20%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 3.20%. Tier 6 $500,000.00+ features an annual percentage yield of 3.20%. 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.

6Annual Percentage Yield (APY). 3.80% APY is accurate as of 6/11/2026 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.