Bank5 Connect

Last Updated: 7/3/2025

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

Quick Views

Jumbo Savings: 4.05% APY(Rank 39 out of 76 tracked HYSAs)

Minimum Deposit: $25,000 | Online Only

Connect Savings: 1.50% APY(Rank 77 out of 88 savings accounts)

Minimum Deposit: $10 | Online Only

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

Location: Fall River, Massachusetts

Affiliation: BankFive

BBB Rating: A+

App Store Rating: 4.9/5

Google Play Rating: 4.2/5

Website: Visit Bank5 Connect

Our Take on Bank5 Connect

Highlights

  • Jumbo Savings account offers a competitive APY of 4.05%
  • No maintenance fees if eStatements are received for both accounts
  • Bank has an A+ BBB rating, indicating trustworthiness
  • High App Store rating of 4.9 and Google Play rating of 4.2

Considerations

  • Connect Savings has a lower APY of 1.50%
  • Minimum balance of $25,000 required for Jumbo Savings account
  • Both accounts have a direct deposit requirement
  • No physical branches available; online-only bank
Summary: Bank5 Connect offers a strong Jumbo Savings account with a 4.05% APY and an A+ BBB rating, ensuring trustworthiness. However, the Connect Savings account has a lower APY of 1.50%, and both accounts require a minimum balance and direct deposit. The bank operates online only, which may be a drawback for those preferring in-person banking. The high App Store and Google Play ratings reflect good customer satisfaction.

Savings Accounts

Savings Accounts Offered by Bank5 Connect

FeatureJumbo SavingsConnect Savings
APY
4.05% (as of 7/3/2025)1.50% (as of 7/3/2025)
APY TrendStable for the last monthStable for the last month
Minimum Deposit$25,000$10
Minimum Balance for APY$25,000$100
FDIC-insured
YesYes
Online OnlyYesYes
Bundled Account
NoNo
Direct Deposit Required
NoNo
Compound Frequency
MonthlyMonthly
Maintenance Fee$0, if receiving eStatements. Otherwise $1 per statement.$0, if receiving eStatements. Otherwise $1 per statement.
EligibilityUnited StatesUnited States

No deposit agreement summary available for this bank.

Calculate Savings for Bank5 Connect

All calculations are based on APY.
Deposit Frequency:

Total savings breakdown:

  • Interest earned: $1,013 (3.89%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $25,000 (96.11%)

Your total balance

$26,013.00

Effective APY: 4.05% (based on your deposit and contributions)

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

Bank5 Connect Savings Rates Over Time

Historical APY Insights

MetricJumbo SavingsConnect Savings
Latest APY4.05 %1.50 %
TrendSidewaysSideways
Slope (bps/mo)-4.20.0
Rate Changes / Mo0.380.00
Days Since Last Change79155
High (-5 m)4.25 %1.50 %
Low (-5 m)4.05 %1.50 %
Draw-down from High-4.7 %0.0 %
Volatility (CV)0.0170.000
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 Bank5 Connect's Savings Accounts

  • Affirm - 3.85% APY
  • All America Bank - 1.50-3.25% APY
  • Ally Bank - 3.50% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.60% APY
  • Axos Bank - 4.66% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.20% APY
  • Betterment - 4.00% APY
  • BMO Alto - 3.60% APY
  • Bread Savings - 4.30% APY
  • BrioDirect - 4.30% APY
  • Capital One - 3.50% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.25-3.75% APY
  • CIBC Bank USA - 4.11% APY
  • CIT Bank - 0.25-4.00% APY
  • Citibank - 3.60% APY
  • Citizens Access™ - 3.70% APY
  • Colorado Federal Savings Bank - 4.25% APY
  • ConnectOne Bank - 4.00% APY
  • Customers Bank - 4.23% APY
  • Discover Bank - 3.50% APY
  • E*TRADE from Morgan Stanley - 4.00% APY
  • EverBank - 4.30% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
  • Flagstar Bank - 4.00% APY
  • Forbright Bank - 4.25% APY
  • FVCbank - 4.35% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.40-4.40% APY
  • Live Oak Bank - 4.10% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • My Banking Direct - 4.30% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.30% APY
  • Peak Bank - 4.44% APY
  • Pibank - 4.60% APY
  • PNC - 3.95% APY
  • Poppy Bank - 4.25% APY
  • Popular Direct - 4.05% APY
  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
  • Primis Bank - 4.35% APY
  • Quontic Bank - 3.75% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.12% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • 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
FeatureBank5 ConnectSelect a bank...
ProductN/A
APY
4.05% (as of 7/3/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
MonthlyN/A
Minimum Deposit$25,000N/A
Minimum Balance for APY$25,000N/A
Maintenance Fee$0, if receiving eStatements. Otherwise $1 per statement.N/A
Direct Deposit Required
NoN/A

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