Flagstar Bank: Savings Account & Rates
Mission: Banksparency aims to make Flagstar Bank's savings account transparent and comparable to the market.
Savings Overview
Flagstar Performance Savings
| Min. Deposit | $1 |
| Min. Balance | $25,000 |
| Maintenance Fee | $15, waived with $10,000 avg. daily balance OR with Flagstar personal checking account |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.20% APY.
Also see affiliated bank: My Banking Direct
View productsBank Overview
- HQ LocationHicksville, New York (previously: Troy, Michigan)
- Founded1987
- Ratings & Trust
- Zelle® SupportAvailableNative support verified.
- Deposit InsuranceFDIC Insured(Cert: 32541)
Our Take on Flagstar Bank
The Good
- Decent APY of 3.40%
- Low opening deposit ($1)
- Monthly fees can be waived
- Highly rated mobile apps (iOS: 4.7, Android: 4.3)
Considerations
- High minimum balance ($25000) to earn APY
- No physical branch access (online only)
- Yield is below current market leaders
Flagstar Bank offers the Flagstar Performance Savings account with an attractive APY of 3.40%. This account features a low opening deposit requirement of just $1, and monthly fees can be waived. However, it is important to note that a high minimum balance of $25,000 is required to earn the stated APY. Additionally, this is an online-only account with no physical branch access, and while the yield is decent, it falls below current market leaders. There are no direct deposit requirements, and the account does not have promotional or tiered features.
Savings Account: In-Depth View
Savings Account Offered by Flagstar Bank
| Feature | Flagstar Performance Savings |
|---|---|
APY | 3.40%Verified: 1/21/2026 |
APY Trend | 30 days ↘︎ 0.11% 90 days ↘︎ 0.50% |
Min. Deposit | $1 |
Min. Balance | $25,000 |
Monthly Fee | $15, waived with $10,000 avg. daily balance OR with Flagstar personal checking account |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Monthly |
FDIC Insured | Yes |
Eligibility | United States |
Important | This is a tiered savings account, where failure to meet the minimum balance requirements results in a much lower APY. |
| Next Steps | - |
Calculate Savings for Flagstar Bank
Minimum balance for higher APY: $25,000
Savings Breakdown
- Interest Earned+$0.00(0.0%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,000.00
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
Last 11 Months| Metric | Flagstar Performance Savings |
|---|---|
Latest APY | 3.40% |
Trend | Falling |
Slope (bps/mo) | -7.2 |
Rate Changes / Mo | 0.65 |
Days Since Last Change | 25 |
High (-11m) | 4.20% |
Low (-11m) | 3.40% |
Draw-down | -19.0% |
Volatility (CV) | 0.065 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 323-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Flagstar Bank
| Feature | Current View Flagstar Bank | Empty Slot |
|---|---|---|
| Product | Flagstar Performance Savings | - |
APY | 3.40%Verified: 1/21/2026 | - |
APY Trend | 30 days ↘︎ 0.11% 90 days ↘︎ 0.50% | - |
| Min. Deposit | $1 | - |
| Monthly Fee | $15, waived with $10,000 avg. daily balance OR with Flagstar personal checking account | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Monthly | - |
FDIC Insured | Yes | - |
| Note | This is a tiered savings account, where failure to meet the minimum balance requirements results in a much lower APY. | - |
| Next Steps | - | - |
Alternatives to Flagstar Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
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