Amalgamated Bank
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Online Savings: 2.25% APY(Rank 74 out of 74 tracked HYSAs)
Minimum Deposit: $100
National Savings Interest Rate: 0.42% (as of 5/19/2025)
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: 4.1/5
Website: Visit Amalgamated Bank
Our Take on Amalgamated Bank
Highlights
- APY of 2.25% for the first 6 months on Online Savings account.
- No maintenance fees for savings accounts.
- A+ BBB rating indicates strong trustworthiness.
- High App Store rating of 4.7.
Considerations
- APY is promotional and may change after 6 months.
- No branch locations available.
- Direct deposit is not required but may limit options.
- Google Play rating is lower at 4.1.
Summary: Amalgamated Bank offers a competitive APY of 2.25% for the first six months on its Online Savings account, with no maintenance fees and a strong A+ BBB rating. However, the APY is promotional and may change after the initial period. The bank lacks physical branches and has a lower Google Play rating of 4.1 compared to its App Store rating of 4.7. Overall, it presents a solid option for online savers.
Savings Account
Savings Account Offered by Amalgamated Bank
Feature | Online Savings |
---|---|
APY | 2.25% (as of 6/20/2025) |
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.
Online Savings (APY: 2.25%)
Deposit Frequency:
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) | -0.1 |
Rate Changes / Mo | 0.21 |
Days Since Last Change | 143 |
High (-5 m) | 2.35 % |
Low (-5 m) | 2.25 % |
Draw-down from High | -4.3 % |
Volatility (CV) | 0.004 |
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 144 days.
- Low (-5 m)
- Lowest APY in the last 144 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.
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Feature | Amalgamated Bank | Select a bank... |
---|---|---|
Product | Online Savings | N/A |
APY | 2.25% (as of 6/20/2025) | 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 |