Amalgamated Bank: Savings Accounts & Rates

Savings rates updated: 10/1/2025

Mission statement: Banksparency aims to make Amalgamated Bank's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

Note: Interest rates below are reported as APY, or Annual Percentage Yield

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Savings Overview

Online Savings: 2.25% APY(Rank 83 out of 83 tracked HYSAs)

Minimum Deposit: $100

National Savings Interest Rate: 0.4% (as of 9/15/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Location: New York, New York

Founded: 1923

Deposit Insurance: FDIC Cert # 622

BBB Rating: A+

App Store Rating: 4.7/5

Google Play Rating: 4.2/5

Website: Visit Amalgamated Bank

Our Take on Amalgamated Bank

Highlights

Current APY of 2.25% is competitive for high-yield savings accounts.
No maintenance fees, making it cost-effective for savers.
A+ BBB rating indicates strong trustworthiness.
App Store rating of 4.7 suggests high customer satisfaction.

Considerations

APY is promotional and may change after 6 months.
Minimum deposit requirement of $100 may be a barrier for some.
No branches available for in-person banking needs.
Direct deposit is not required but may limit some features.

Summary: Amalgamated Bank offers a high-yield Online Savings account with a competitive 2.25% APY for the first 6 months. The account has no maintenance fees and an A+ BBB rating, indicating trustworthiness. However, the APY is promotional, and the bank has no physical branches, which may not suit everyone. The minimum deposit requirement of $100 could also be a consideration for potential savers.

Savings Account: In-Depth View

Savings Account Offered by Amalgamated Bank

Feature	Online Savings
APY	2.25% (as of 10/1/2025)
APY Trend	Stable for the last quarter
Minimum Deposit	$100
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	No
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
Note	This promotional APY is available for the first 6 months (182 days) from account opening on the entire balance, and is subject to change after the 6 months (182 days) at the bank's discretion.
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Amalgamated Bank

All calculations are based on APY.

Savings Product:

Online Savings (APY: 2.25%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $862.5 (5.80%)
Total contributions: $13,000 (87.47%)
Initial deposit: $1,000 (6.73%)

Your total balance

$14,862.50

Effective APY: 2.25% (based on your deposit and contributions)

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Amalgamated Bank Savings Rates Over Time

Historical APY Insights

Metric	Online Savings
Latest APY	2.25 %
Trend	Sideways
Slope (bps/mo)	0.0
Rate Changes / Mo	0.00
Days Since Last Change	245
High (-8 m)	2.25 %
Low (-8 m)	2.25 %
Draw-down from High	0.0 %
Volatility (CV)	0.000

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 8 months (regression slope).
Slope (bps/mo): Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo: Typical number of APY moves per month.
Days Since Last Change: Recency of the latest APY adjustment.
High (-8 m): Highest APY in the last 246 days.
Low (-8 m): Lowest APY in the last 246 days.
Draw-down from High: How far today sits below the 8-month peak.
Volatility (CV): Coefficient of variation = stdev ÷ mean.

Why Track Savings-Account APYs?

See how quickly a bank reacts to Fed moves or competition.
Gauge “twitchiness” - frequent moves can annoy savers.
Spot if you're buying near a peak (draw-down) or riding a rise.
Slope (bps/mo) shows speed of change.
Volatility (CV) scales jumps by average level.

Compare Amalgamated Bank's Savings Account

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Feature	Amalgamated Bank	Select a bank...
Product	Online Savings	N/A
APY	2.25% (as of 10/1/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	No	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$100	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A
Note	This promotional APY is available for the first 6 months (182 days) from account opening on the entire balance, and is subject to change after the 6 months (182 days) at the bank's discretion.	N/A

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