Bank5 Connect

Last Updated: 6/20/2025

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

Quick Views

Jumbo Savings: 4.05% APY(Rank 39 out of 74 tracked HYSAs)

Minimum Deposit: $25,000 | Online Only

Connect Savings: 1.50% APY(Rank 76 out of 87 savings accounts)

Minimum Deposit: $10 | Online Only

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

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 offers a competitive APY of 4.05%
  • No maintenance fees with eStatements for both accounts
  • Bank has an A+ BBB rating
  • High App Store rating of 4.9

Considerations

  • Connect Savings has a lower APY of 1.50%
  • Minimum deposit of $25,000 required for Jumbo Savings
  • No physical branches available
  • Direct deposit is not required but may limit some users
Summary: Bank5 Connect offers two savings accounts, with the Jumbo Savings account providing a notable APY of 4.05%, ideal for high-yield savers. The Connect Savings account has a lower APY of 1.50% but requires only a $10 minimum deposit. Both accounts have no maintenance fees if eStatements are chosen. The bank has an A+ BBB rating and strong app ratings, but lacks physical branches and imposes a high minimum for its best account.

Savings Accounts

Savings Accounts Offered by Bank5 Connect

FeatureConnect SavingsJumbo Savings
APY
1.50% (as of 6/20/2025)4.05% (as of 6/20/2025)
APY TrendStable for the last monthStable for the last month
Minimum Deposit$10$25,000
Minimum Balance for APY$100$25,000
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)-4.70.0
Rate Changes / Mo0.420.00
Days Since Last Change67144
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 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.

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 - 3.60% 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 - 3.60% 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 - 3.85% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.65% 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 - 4.26% 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 - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
  • Western Alliance Bank - 4.30% APY
  • Zynlo Bank - 4.35% APY
FeatureBank5 ConnectSelect a bank...
ProductN/A
APY
4.05% (as of 6/20/2025)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