Flagstar Bank
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Flagstar Performance Savings: 4.00% APY(Rank 50 out of 74 tracked HYSAs)
Minimum Deposit: $1 | 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)Our Take on Flagstar Bank
Highlights
- Current APY of 4.00%, unchanged from 30 days ago.
- No direct deposit requirement for the Flagstar Performance Savings account.
- App Store rating of 4.7 and Google Play rating of 4.2.
- Minimum deposit of only $1 to open an account.
Considerations
- Maintenance fee of $15, unless waived with $10,000 balance.
- Minimum balance of $25,000 to earn the highest APY.
- No branches available for in-person banking.
- BBB rating not available for trust evaluation.
Summary: Flagstar Bank offers a competitive APY of 4.00% on its Performance Savings account, which requires a minimum balance of $25,000 to avoid a maintenance fee. The account has no direct deposit requirement, making it accessible for savers. However, the absence of branches may deter some customers, and the lack of a BBB rating could raise trust concerns. The bank has solid app ratings, enhancing its digital banking appeal.
Savings Account
Savings Account Offered by Flagstar Bank
| Feature | Flagstar Performance Savings |
|---|---|
| APY | 4.00% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| 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. |
No deposit agreement summary available for this bank. | |
Calculate Savings for Flagstar Bank
All calculations are based on APY.
Flagstar Performance Savings (APY: 4.00%)
⚠️ The minimum balance for APY on this account is $25,000.
Deposit Frequency:
Total savings breakdown:
- Interest earned: $0 (0.00%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (100.00%)
Your total balance
$100.00
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 | 4.00 % |
| Trend | Falling |
| Slope (bps/mo) | -7.0 |
| Rate Changes / Mo | 0.55 |
| Days Since Last Change | 33 |
| High (-4 m) | 4.20 % |
| Low (-4 m) | 4.00 % |
| Draw-down from High | -4.8 % |
| Volatility (CV) | 0.019 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 4 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 (-4 m)
- Highest APY in the last 109 days.
- Low (-4 m)
- Lowest APY in the last 109 days.
- Draw-down from High
- How far today sits below the 4-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.
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| Feature | Flagstar Bank | Select a bank... |
|---|---|---|
| Product | Flagstar Performance Savings | N/A |
| APY | 4.00% (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 | $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 |