FreedomBank savings, CD and money market rates
FreedomBank's Savings advertises 0.10% APY. That is 0.28 percentage points below the national savings average of 0.38% (FDIC, Oct 2026).
Ranked #2318 of 3121 tracked savings rates by advertised APY. For a $10,000 balance it would rank #2143.
FreedomBank at a glance
| Savings | |
|---|---|
| Top savings APY | 0.10% · Savings |
| Minimum to open | $100 · Savings |
| Against the national average | 0.28 percentage points below the 0.38% FDIC savings average (Oct 2026) |
| CDs | |
| Top CD APY | Up to 4.30% · 6 months · 182 Day CD · needs at least $100,000 |
| Minimum to open | $1,000 · 6 months CD |
| Against the national average | 2.91 percentage points above the 1.39% FDIC 6-month CD average (Oct 2026) |
| Money market | |
| Top money market APY | Up to 0.40% · FreedomBank Money Market · needs at least $250,000 |
| Minimum to open | $5,000 · FreedomBank Money Market |
| Against the national average | 0.23 percentage points below the 0.63% FDIC money market average (Oct 2026) |
| FDIC certificate | 11767 · Elkader, IA |
|---|---|
| Website | www.freedombnk.com |
| Branches | 4 branches in IA |
| Availability | Available in IA |
FreedomBank savings, CD and money market rates
Personal
How the rate applies
How the rate applies
How the rate applies
IRA
How the rate applies
Rates are annual percentage yields (APY). A variable rate may change after the account is opened. Fees could reduce the earnings on the account. A penalty may be imposed for early withdrawal.
The national savings average is 0.38% (FDIC, Oct 2026). The top tracked savings rate on Banksparency is 12.00%. Across 59 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.20% or more. See the highest savings rates.
FreedomBank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 3 months | 3.91% | $1,000 | 91 Day CD |
| 6 months | Up to4.30%Needs at least $100,000 | $1,000 | 182 Day CD |
| 12 months | Up to4.30%Needs at least $100,000 | $1,000 | 12 Month CD |
| 18 months | Up to4.14%Needs at least $100,000 | $1,000 | 18 Month CD |
| 24 months | Up to4.14%Needs at least $100,000 | $1,000 | 24 Month CD |
| 30 months | Up to4.14%Needs at least $100,000 | $1,000 | 30 Month CD |
| 36 months | Up to4.04%Needs at least $100,000 | $1,000 | 36 Month CD |
| 42 months | Up to4.04%Needs at least $100,000 | $1,000 | 42 Month CD |
| 48 months | Up to4.04%Needs at least $100,000 | $1,000 | 48 Month CD |
| 60 months | Up to4.04%Needs at least $100,000 | $1,000 | 60 Month CD |
| IRA CDs | |||
| not stated | Up to4.34%Needs at least $100,000 | $1,000 | IRA, SEP, KEOGH CD |
| not stated | 3.56% | $1,000 | Variable Rate IRA |
Interactive Tool
Calculate Savings for FreedomBank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$27.80(0.2%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,027.80
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What FreedomBank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, FreedomBank paid a higher average rate on savings and money market deposits than 42% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- FreedomBank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| FreedomBank HSA | 0.10% | $0 | $0 | None | not stated | not stated | Tiered | |
| Savings | 0.10% | $100 | $0 | None | not stated | not stated | One rate | |
| Fine print: Customers under age 26 pay no service charge. The bank does not publish the amount it charges other customers. | ||||||||
| FreedomBank Money Market | Up to 0.40% | $5,000 | $0 | None | not stated | not stated | Tiered | |
| Fine print: The first six debits in a statement period are free. Each debit item after that costs $10. | ||||||||
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| 91 Day CD | 3 months | 3.91% | $1,000 | not stated | not stated |
| 182 Day CD | 6 months | Up to 4.30% | $1,000 | not stated | not stated |
| 12 Month CD | 12 months | Up to 4.30% | $1,000 | not stated | not stated |
| 18 Month CD | 18 months | Up to 4.14% | $1,000 | not stated | not stated |
| 24 Month CD | 24 months | Up to 4.14% | $1,000 | not stated | not stated |
| 30 Month CD | 30 months | Up to 4.14% | $1,000 | not stated | not stated |
| 36 Month CD | 36 months | Up to 4.04% | $1,000 | not stated | not stated |
| 42 Month CD | 42 months | Up to 4.04% | $1,000 | not stated | not stated |
| 48 Month CD | 48 months | Up to 4.04% | $1,000 | not stated | not stated |
| 60 Month CD | 60 months | Up to 4.04% | $1,000 | not stated | not stated |
| IRA CDs | |||||
| IRA, SEP, KEOGH CD | not stated | Up to 4.34% | $1,000 | not stated | not stated |
| Variable Rate IRA | not stated | 3.56% | $1,000 | not stated | not stated |
| Fine print: Variable rate. The rate can change after the account is opened. | |||||
Opening and using the account
| Availability | Available in IA |
|---|---|
| Footprint | 4 branches in IA |
| Eligibility | not stated |
How FreedomBank behaves over time
Every observation of the advertised Savings rate in the last 12 months was 0.10% (observed through Oct 28, 2026). The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 23, 202691 Day CDRaise:3.55%to3.91%
- Obs. Sep 23, 2026182 Day CDRaise:3.79%to4.14%
- Obs. Sep 23, 202612 Month CDRaise:3.73%to4.14%
- Obs. Sep 23, 202618 Month CDRaise:3.73%to3.99%
- Obs. Sep 23, 202624 Month CDRaise:3.73%to3.99%
- Savings
- The same as 30 days ago.
$10,000 at the 0.10% APY FreedomBank advertises on Savings grows to $10,010 in a year. Prices rose 3.7% in the year to September 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,649 does today. See how the federal funds rate shapes savings rates.
FreedomBank CD rates over time
Who is FreedomBank?
| Headquarters | Elkader, IA |
|---|---|
| Founded | 1903 |
| Scale | $434M assets · $368M deposits, $284M of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 11767 |
| Charter state | Iowa · one of 226 insured banks chartered there (Q2 2026, FDIC) |
| Size | 1,943rd-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 16% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What FreedomBank pays on deposits above.
Common questions about FreedomBank
Is FreedomBank FDIC insured?
Yes. FreedomBank is FDIC insured under certificate 11767, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at FreedomBank?
FreedomBank requires a minimum deposit of $100 to open its Savings account, as observed on Oct 28, 2026. Check the bank's current terms before you open an account.
Does FreedomBank have branches?
Yes. FreedomBank operates 4 branches according to FDIC branch records, in addition to its website and mobile apps.
FreedomBank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| FreedomBank | 0.10% | 1.26% | $100 | 4 branches in IA |
| Alliance Bank | 0.10% | 1.33% | $300 | 7 branches in IN |
| Andover State Bank | 0.10% | 2.23% | not stated | 2 branches in KS |
| Argentine Federal Savings | 0.10% | 1.99% | $50 | 2 branches in KS |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to FreedomBank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Iowa, nearest to FreedomBank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.
State pages: CD rates in Iowa, and banks in Iowa.