Bank5 Connect
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick 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
| Feature | Connect Savings | Jumbo Savings |
|---|---|---|
| APY | 1.50% (as of 6/20/2025) | 4.05% (as of 6/20/2025) |
| APY Trend | Stable for the last month | Stable for the last month |
| Minimum Deposit | $10 | $25,000 |
| Minimum Balance for APY | $100 | $25,000 |
| FDIC-insured | Yes | Yes |
| Online Only | Yes | Yes |
| Bundled Account | No | No |
| Direct Deposit Required | No | No |
| Compound Frequency | Monthly | Monthly |
| Maintenance Fee | $0, if receiving eStatements. Otherwise $1 per statement. | $0, if receiving eStatements. Otherwise $1 per statement. |
| Eligibility | United States | United 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
| Metric | Jumbo Savings | Connect Savings |
|---|---|---|
| Latest APY | 4.05 % | 1.50 % |
| Trend | Sideways | Sideways |
| Slope (bps/mo) | -4.7 | 0.0 |
| Rate Changes / Mo | 0.42 | 0.00 |
| Days Since Last Change | 67 | 144 |
| High (-5 m) | 4.25 % | 1.50 % |
| Low (-5 m) | 4.05 % | 1.50 % |
| Draw-down from High | -4.7 % | 0.0 % |
| Volatility (CV) | 0.017 | 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 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
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- Bank of America - 0.01% APY
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- Bask Bank - 4.20% APY
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- BMO Alto - 3.60% APY
- Bread Savings - 4.30% APY
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- 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
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- E*TRADE from Morgan Stanley - 4.00% APY
- EverBank - 4.30% APY
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- Jenius Bank - 4.20% APY
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- My Banking Direct - 4.30% APY
- MySavingsDirect - 3.75% APY
- Neighbors Bank - 4.60% APY
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- 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
| Feature | Bank5 Connect | Select a bank... |
|---|---|---|
| Product | N/A | |
| APY | 4.05% (as of 6/20/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Monthly | N/A |
| Minimum Deposit | $25,000 | N/A |
| Minimum Balance for APY | $25,000 | N/A |
| Maintenance Fee | $0, if receiving eStatements. Otherwise $1 per statement. | N/A |
| Direct Deposit Required | No | N/A |