Foundation Savings Plus
A solid foundation for building your savings.
The Foundation Savings Plus Account is designed for savers with $10,000 or more. This account offers all the benefits of our other accounts plus a competitive rate of return that’s hard to pass up.
KEY ACCOUNT FEATURES:
- Tiered interest rates1—view rates
- Link to your checking account for overdraft protection2
- Can easily and immediately transfer funds between your other Flagstar deposit accounts using online and mobile banking3
- Preferred CD rates are available by keeping $5,000 or more in combined checking, savings, and money market accounts4
- 0.50% rate reduction on home equity lines of credit when payments are automatically made from this account5
- 0.25% rate reduction on personal loans, personal lines of credit, and home equity loans when payments are automatically made from this account5
- 24-Voice phone banking Call (888) 248-6423
SERVICE FEE:
$15 monthly maintenance service charge
OR NO MONTHLY SERVICE FEE WITH:
Flagstar personal checking account
OR NO MONTHLY SERVICE FEE WITH:
A $10,000 Average Daily Collected Balance6
NEW MONEY ONLY
All savings accounts come with:
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INFORMATION TO NOTE:
Rate information — Your interest rate and annual percentage yield may change.
Frequency of rate changes — We may change the interest rate on your account at any time.
Determination of rate — At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency — Interest will be compounded every month. Interest will be credited to your account every month.
No minimum opening balance required to open in a branch.
Daily balance computation method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits — Interest begins to accrue on the first business day after the business day you deposit noncash items (for example, checks).
Transaction Limitations — An unlimited number of deposits or withdrawals are permitted in person, by mail or ATM to the extent that these services are available with your account. By federal regulation, not more than six preauthorized, automatic, online, or telephone transfers or withdrawals or check or debit (also known as point of sale [POS]) withdrawals are permitted per calendar month. If you go over these limits, we may either charge your account, close your account, or end your right to withdraw or transfer money from your account by telephone or online transfer, check, debit card, automatic withdrawal or transfers, and preauthorized withdrawal. We may also refuse to permit withdrawals or transfers that go over these limits and may charge you for requesting such withdrawals or transfers.
Fees — An excess preauthorized withdrawal fee of $10 may be charged for each preauthorized, automatic, online, or telephone transfer or withdrawal or check or POS withdrawal in excess of six during a calendar month.
Interest accrual upon account closure — Interest accrues up to the business day that you close your account and is credited when the account is closed.
1Interest rates are tiered to a maximum amount. View interest rates.
2Linked account means another account on which you are an owner, such as a savings, money market, or checking account, which you requested we link to your checking account for overdraft protection purposes. A $10 Linked Account Deposit Overdraft (OD) transaction fee will be charged to the Linked Account per day. If your linked account earns interest, you should decide whether the amount of overdraft charges and non-sufficient funds charges on your checking account you anticipate you will avoid under the linked account arrangement will be greater than the amount of interest you will forgo by having funds transferred from the linked account. You may request our Truth-in-Savings Disclosures for the type of account you propose to use as a linked account to obtain information regarding how interest is determined on the linked account and any minimum balance or other requirements to earn interest on the linked account. Regulation D limits the number of automatic withdrawals to six times per calendar month for savings and money market accounts. Excess withdrawals can cause additional fees and account closure.
3Not all devices supported. Available for eligible personal and business checking and savings account customers only. CD customers may view their balance and account activity only. Must be an active personal online banking user. Must be customer for a minimum of two business days. Accounts must be in good standing.
4Excludes promotional rates.
5Subject to loan approval. Automatic payments must be established and elected at the time of application.
6The average daily collected balance is calculated by adding the collected balance in the account for each day of the period and dividing that figure by the number of days in the period.
7Currency conversion fee may apply to transactions outside the U.S.
8This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.
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.