Bank5 Connect: Savings Accounts & Rates

Savings rates updated: 8/18/2025

Mission statement: Banksparency aims to make Bank5 Connect'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

Jumbo Savings: 4.05% APY(Rank 40 out of 81 tracked HYSAs)

Minimum Deposit: $25,000 | Online Only

Connect Savings: 1.50% APY(Rank 82 out of 94 savings accounts)

Minimum Deposit: $10 | Online Only

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: Fall River, Massachusetts

Founded: 1855

Affiliation: BankFive

Deposit Insurance: FDIC Cert # 23286

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 high APY of 4.05%
Connect Savings has no maintenance fees with eStatements
Bank5 Connect has an A+ BBB rating
App Store rating is 4.9, indicating high customer satisfaction

Considerations

Jumbo Savings requires a $25,000 minimum deposit
Connect Savings has a lower APY of 1.5%
Both accounts are online-only, lacking physical branches
No direct deposit requirement may limit some users

Summary: Bank5 Connect offers two savings accounts: the Jumbo Savings with a competitive APY of 4.05% and the Connect Savings at 1.5%. Both accounts have no maintenance fees if eStatements are received. The bank holds an A+ BBB rating and boasts high customer satisfaction with a 4.9 App Store rating. However, the Jumbo Savings account's high minimum deposit may be a barrier for some savers.

Savings Accounts: In-Depth View

Savings Accounts Offered by Bank5 Connect

Feature	Connect Savings	Jumbo Savings
APY	1.50% (as of 8/18/2025)	4.05% (as of 8/18/2025)
APY Trend	Stable for the last quarter	Stable for the last quarter
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
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Bank5 Connect

All calculations are based on APY.

Choose savings account:

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $6,858.6 (15.29%)
Total contributions: $13,000 (28.98%)
Initial deposit: $25,000 (55.73%)

Your total balance

$44,858.60

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)	-2.9	0.0
Rate Changes / Mo	0.30	0.00
Days Since Last Change	124	200
High (-7 m)	4.25 %	1.50 %
Low (-7 m)	4.05 %	1.50 %
Draw-down from High	-4.7 %	0.0 %
Volatility (CV)	0.016	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 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 - 3.50% APY
Ameriprise Bank - 3.15-3.15% APY
Axos Bank - 4.46% APY
Bank of America - 0.01% APY
Barclays - 3.90-4.10% APY
Bask Bank - 4.20% APY
Betterment - 4.00% APY
BMO Alto - 3.50% APY
Bread Savings - 4.25% 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 - 4.02% APY
CIT Bank - 0.25-4.00% APY
Citibank - 3.50% APY
Citizens Access™ - 3.50% APY
Colorado Federal Savings Bank - 4.15% APY
ConnectOne Bank - 4.00% APY
Customers Bank - 4.23% APY
Discover Bank - 3.50% APY
Elevault - 4.60% 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 - 4.85% APY
Flagstar Bank - 4.00% APY
FNBO Direct - 3.25% APY
Forbright Bank - 4.25% APY
FVCbank - 4.35% APY
GO2bank - 4.50% APY
High Plains Bank - 0.23-3.82% APY
Jenius Bank - 4.20% APY
LendingClub - 3.20-4.20% 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 - 4.20% APY
Peak Bank - 4.35% 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 - 4.20% 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 - 3.05% 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
Wells Fargo - 0.05-2.51% 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 8/18/2025)	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