Flagstar Bank: Savings Accounts & Rates

Savings rates updated: 10/15/2025

Mission statement: Banksparency aims to make Flagstar Bank'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

Flagstar Performance Savings: 3.90% APY(Rank 44 out of 82 tracked HYSAs)

Minimum Deposit: $1 | Online Only

Offered by the affiliated My Banking Direct:

High Yield Savings Account: 4.20% APY(Rank 19 of the 20 Best Savings Rates)

Minimum Deposit: $500 | Online Only

National Savings Interest Rate: 0.4% (as of 9/15/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

Deposit Insurance: FDIC Cert # 32541

App Store Rating: 4.7/5

Google Play Rating: 4.3/5

Website: Visit Flagstar Bank

Our Take on Flagstar Bank

Highlights

Current APY of 3.90%, down from 4.00% last month
Minimum deposit of only $1 for account opening
App Store rating of 4.7 and Google Play rating of 4.3
Maintenance fee waived with $10,000 average daily balance

Considerations

Requires a minimum balance of $25,000 for higher APY
Maintenance fee of $15 if balance requirements are not met
Online-only account limits access to physical branches
APY significantly drops if minimum balance is not maintained

Summary: Flagstar Bank offers a high-yield savings account with a current APY of 3.90%, slightly lower than last month's 4.00%. The account requires a minimum deposit of just $1 but mandates a minimum balance of $25,000 to earn the higher APY. While the app ratings are strong, the online-only nature may be a drawback for some savers. Additionally, a maintenance fee applies unless certain balance conditions are met.

Savings Account: In-Depth View

Savings Account Offered by Flagstar Bank

Feature	Flagstar Performance Savings
APY	3.90% (as of 10/15/2025)
APY Trend	-0.10% MoM
Minimum Deposit	$1
Minimum Balance for APY	$25,000
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Monthly
Maintenance Fee	$15, waived with $10,000 avg. daily balance OR with Flagstar personal checking account
Eligibility	United States
Note	This is a tiered savings account, where failure to meet the minimum balance requirements results in a much lower APY.
Sponsored Link
No deposit agreement summary available for this bank.

Calculate Savings for Flagstar Bank

All calculations are based on APY.

Savings Product:

Flagstar Performance Savings (APY: 3.90%)

Initial Deposit:

⚠️ The minimum balance for APY on this account is $25,000.

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $0 (0.00%)
Total contributions: $13,000 (92.86%)
Initial deposit: $1,000 (7.14%)

Your total balance

$14,000.00

Effective APY: 0.00% (based on your deposit and contributions)

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

Flagstar Bank Savings Rates Over Time

Historical APY Insights

Metric	Flagstar Performance Savings
Latest APY	3.90 %
Trend	Sideways
Slope (bps/mo)	-3.2
Rate Changes / Mo	0.40
Days Since Last Change	9
High (-7 m)	4.20 %
Low (-7 m)	3.90 %
Draw-down from High	-7.1 %
Volatility (CV)	0.020

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 225 days.
Low (-7 m): Lowest APY in the last 225 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 Flagstar Bank's Savings Account

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Marcus by Goldman Sachs - 3.65% APY
MutualOne Bank - 4.07% APY
My Banking Direct - 4.20% APY
MySavingsDirect - 3.75% APY
Neighbors Bank - 4.50% APY
Newtek Bank - 4.35% APY
OMB Bank - 1.00% APY
Openbank - 4.20% APY
Peak Bank - 4.20% APY
Pibank - 4.60% APY
PNC - 3.85% APY
Poppy Bank - 4.25% APY
Popular Direct - 4.05% APY
Presidential Bank - 4.00-4.50% APY
Prime Alliance Bank - 3.90% APY
Primis Bank - 3.85% APY
Quontic Bank - 3.75% APY
RBMAX - 3.90% APY
Rising Bank - 4.10% APY
ROGER - 3.87% APY
Salem Five Direct - 4.01% APY
Sallie Mae Bank - 3.90% APY
Santander Bank - 0.01% APY
SmartyPig - 3.90% APY
SoFi Bank - 4.50% APY
Synchrony Bank - 3.80% APY
TAB Bank - 3.80% APY
TD Bank - 0.05-2.75% APY
The State Exchange Bank - 3.86% APY
TIMBR - 4.40% APY
UFB Direct - 3.76-3.96% APY
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Valley Direct - 4.10% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-0.05% APY
Western Alliance Bank - 4.10% APY
Zynlo Bank - 4.20% APY

Feature	Flagstar Bank	Select a bank...
Product	Flagstar Performance Savings	N/A
APY	3.90% (as of 10/15/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Monthly	N/A
Minimum Deposit	$1	N/A
Minimum Balance for APY	$25,000	N/A
Maintenance Fee	$15, waived with $10,000 avg. daily balance OR with Flagstar personal checking account	N/A
Direct Deposit Required	No	N/A
Note	This is a tiered savings account, where failure to meet the minimum balance requirements results in a much lower APY.	N/A

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