Flagstar Bank

Last Updated: 6/20/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick 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)

Bank Overview

App Store Rating: 4.7/5

Google Play Rating: 4.2/5

Website: Visit Flagstar Bank

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

FeatureFlagstar Performance Savings
APY
4.00% (as of 6/20/2025)
APY TrendStable for the last month
Minimum Deposit$1
Minimum Balance for APY$25,000
FDIC-insured
Yes
Online OnlyYes
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
EligibilityUnited States
NoteThis 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

MetricFlagstar Performance Savings
Latest APY4.00 %
TrendFalling
Slope (bps/mo)-7.0
Rate Changes / Mo0.55
Days Since Last Change33
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.

Compare Flagstar Bank's Savings Account

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  • TAB Bank - 4.26% APY
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  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
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FeatureFlagstar BankSelect a bank...
ProductFlagstar Performance SavingsN/A
APY
4.00% (as of 6/20/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
MonthlyN/A
Minimum Deposit$1N/A
Minimum Balance for APY$25,000N/A
Maintenance Fee$15, waived with $10,000 avg. daily balance OR with Flagstar personal checking accountN/A
Direct Deposit Required
NoN/A
NoteThis is a tiered savings account, where failure to meet the minimum balance requirements results in a much lower APY.N/A