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Flagstar Ready Savings

Grow your money with this low-cost savings account that earns interest.

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

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Beginner-friendly

Easy to use if you're new to saving or starting a new goal.

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No monthly fee with a Flagstar checking account

Avoid monthly service charge when you have a Flagstar personal checking account1

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$1 to open

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

Ready, set, save! 

Whether you're saving for a house or a new phone, this low-cost savings account can help you cross the finish line faster. It has a competitive savings rate, so your money will work even harder. It's the perfect account for setting and reaching goals. 

Open an account

Bank on the go with Mobile Banking.3

Mobile Banking lets you pay bills, move money, deposit checks,4 and much more. Add this easy-to-use app to your Android or iPhone and manage your money on your schedule.5

Learn more
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So many ways to save

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Prevent overdrafts the easy way.

Link your Flagstar savings account to automatically transfer funds to cover overdrafts.

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Earn interest on your savings.

Your money works harder with interest on your savings.

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Convenient ways to make a deposit

It's your choice: online, at a Flagstar ATM or branch, via mobile deposit4 or direct deposit,  by phone, with automatic transfers, and more.

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 $3 monthly maintenance charge—and three ways to avoid it: 

Flagstar Ready Savings is a tiered savings account, which means you can earn a higher interest rate when you save more.

 

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.

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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

Savings calculators

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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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College Cost Estimator

How much will college cost?

Open a low-cost savings account today

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Open an account online

Open an account anytime, day or night. It’s easy and secure.

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Visit a branch

We’ll walk you through it. Stop by the nearest branch to open an account in person.

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Earn up to 5.05% APY6 with a CD

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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.

1The $3 monthly maintenance service charge can be waived with a $300 average daily balance, OR the primary owner is also an owner on a Flagstar personal checking account, OR the primary owner is 18yrs of age or younger.

2This debit card is issued by Flagstar Bank pursuant to a license from Visa U.S.A. Inc.

3Not all devices supported. Available for eligible personal and business deposit account customers only.

4Not 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.

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). 4.65% APY is accurate as of 9/20/2024 and available as a 13-month term. 5.05% APY is accurate as of 9/20/2024 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.