Amalgamated Bank

Last Updated: 7/3/2025

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

Quick Views

Online Savings: 2.25% APY(Rank 75 out of 76 tracked HYSAs)

Minimum Deposit: $100

National Savings Interest Rate: 0.38% (as of 6/16/2025)

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

(Source: FDIC)

Bank Overview

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

APY of 2.25% for the first 6 months.
No maintenance fees or minimum balance requirements.
A+ BBB rating indicating strong trustworthiness.
High App Store rating of 4.7.

Considerations

Direct deposit not required for account opening.
APY is promotional and may change after 6 months.
No branches available for in-person banking.
Google Play rating is lower at 4.2.

Summary: Amalgamated Bank offers a competitive APY of 2.25% for the first six months on its Online Savings account, with no maintenance fees or minimum balance requirements. It holds an A+ BBB rating, indicating reliability. However, the APY is promotional and may change after the initial period. Additionally, the bank has no physical branches, which may deter some savers seeking in-person service. The App Store rating is strong at 4.7, while Google Play is slightly lower at 4.2.

Savings Account

Savings Account Offered by Amalgamated Bank

Feature	Online Savings
APY	2.25% (as of 7/3/2025)
APY Trend	Stable for the last month
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.
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: $2 (1.96%)
Total contributions: $0 (0.00%)
Initial deposit: $100 (98.04%)

Your total balance

$102.00

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	155
High (-5 m)	2.25 %
Low (-5 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 5 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 (-5 m): Highest APY in the last 156 days.
Low (-5 m): Lowest APY in the last 156 days.
Draw-down from High: How far today sits below the 5-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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Synchrony Bank - 3.80% APY
TAB Bank - 4.15% APY
TD Bank - 0.05-3.00% APY
The State Exchange Bank - 1.90% APY
TIMBR - 4.40% APY
UFB Direct - 4.01-4.21% APY
Upgrade - 4.02% APY
Valley Direct - 4.30% APY
Varo Bank - 2.50-5.00% APY
Western Alliance Bank - 4.25% APY
Zynlo Bank - 4.35% APY

Feature	Amalgamated Bank	Select a bank...
Product	Online Savings	N/A
APY	2.25% (as of 7/3/2025)	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