Flagstar Bank: Savings Accounts & Rates

Savings rates updated: 8/29/2025

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: 4.00% APY(Rank 52 out of 81 tracked HYSAs)

Minimum Deposit: $1 | Online Only

Offered by the affiliated My Banking Direct:

High Yield Savings Account: 4.30% APY(Rank 17 of the 20 Best Savings Rates)

Minimum Deposit: $500 | Online Only

National Savings Interest Rate: 0.39% (as of 8/26/2025)

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 4.00%, stable over the last 30 days
No minimum deposit required to open an account
Online-only account for easy access
High App Store rating of 4.7

Considerations

Minimum balance of $25,000 to earn APY
Maintenance fee of $15 unless waived
Limited branch access as it is online-only
No BBB rating available

Summary: Flagstar Bank offers a high-yield savings account with a competitive APY of 4.00%, unchanged from last month. However, to maintain this rate, savers must meet a $25,000 minimum balance, which may not be feasible for all. The account is online-only, providing convenience but limiting in-person support. The bank has a solid App Store rating of 4.7, although it lacks a BBB rating, which some customers may find concerning.

Savings Account: In-Depth View

Savings Account Offered by Flagstar Bank

Feature	Flagstar Performance Savings
APY	4.00% (as of 8/29/2025)
APY Trend	Stable for the last quarter
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: 4.00%)

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	4.00 %
Trend	Sideways
Slope (bps/mo)	-4.0
Rate Changes / Mo	0.34
Days Since Last Change	103
High (-6 m)	4.20 %
Low (-6 m)	4.00 %
Draw-down from High	-4.8 %
Volatility (CV)	0.020

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 6 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 (-6 m): Highest APY in the last 179 days.
Low (-6 m): Lowest APY in the last 179 days.
Draw-down from High: How far today sits below the 6-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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Feature	Flagstar Bank	Select a bank...
Product	Flagstar Performance Savings	N/A
APY	4.00% (as of 8/29/2025)	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