Amalgamated Bank: Savings Accounts & Rates

Savings rates updated: 8/18/2025

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

We earn a commission if you open an account through some links on this page.

Savings Overview

Online Savings: 2.25% APY(Rank 81 out of 81 tracked HYSAs)

Minimum Deposit: $100

National Savings Interest Rate: 0.38% (as of 7/21/2025)

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: 4.3/5

Website: Visit Amalgamated Bank

Our Take on Amalgamated Bank

Highlights

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

Considerations

APY subject to change after promotional period
Minimum deposit of $100 required to open account
No branch network available for in-person service
Direct deposit not required, but may limit options

Summary: Amalgamated Bank offers an Online Savings account with a competitive APY of 2.25% for the first six months, no maintenance fees, and an A+ BBB rating. However, the APY may change after the promotional period, and a minimum deposit of $100 is required. The bank has a solid App Store rating of 4.7, but lacks a branch network for personal service, which may be a drawback for some savers.

Savings Account: In-Depth View

Savings Account Offered by Amalgamated Bank

Feature	Online Savings
APY	2.25% (as of 8/18/2025)
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	200
High (-7 m)	2.25 %
Low (-7 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 7 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 (-7 m): Highest APY in the last 201 days.
Low (-7 m): Lowest APY in the last 201 days.
Draw-down from High: How far today sits below the 7-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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UFB Direct - 4.01-4.21% APY
Upgrade - 4.02% APY
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Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.30% APY
Zynlo Bank - 4.35% APY

Feature	Amalgamated Bank	Select a bank...
Product	Online Savings	N/A
APY	2.25% (as of 8/18/2025)	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