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Earn up to 4.25%APY1 on a Certificate of Deposit (CD)

Earn up to 4.25%APY1 on a Certificate of Deposit (CD)

Watch your savings grow

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Guaranteed growth

Earn a fixed, competitive interest rate that won’t change.

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FDIC-insured

Your deposits are secure, insured up to $250,000 per depositor.2

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No monthly fees

Let your CD grow to maturity to avoid fees.

Explore and Compare CD Rates

4.25% APY1

6-Month CD

Put your savings to work more effectively with this outstanding CD rate.

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4.10% APY1

12-Month CD

Maximize your savings with a highly competitive CD rate designed for long-term growth.

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3.90% APY1

24-Month CD

Lock in your CD rate for a full 24 months, ensuring you’re protected even if rates drop.

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Secure, dependable growth

Lock in a competitive, fixed rate with a CD that offers higher returns than traditional savings accounts—without the risks of investing. With My Banking Direct, your funds are FDIC-insured, and your rate stays fixed, so you’ll know exactly how much you’ll earn.

Requirements and fees

  • $2,500 minimum deposit to open
  • No fees if you hold your CD to maturity
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Locked-in, competitive interest rate

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Predictable growth

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FDIC-insured up to at least $250,000 per depositor2

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Save with confidence. My Banking Direct is a service of Flagstar Bank, N.A.

Requirements and fees

  • $2,500 minimum deposit to open
  • No fees if you hold your CD to maturity
Calculator

How much
can you earn?

Use our CD interest calculator to see how much your savings could grow in a certificate of deposit account.

Certificate of Deposit FAQs

Yes! Every individual customer is insured by the FDIC to the full extent permissible by law. A depositor can have more than $250,000 at one insured bank and still be fully insured, provided the accounts meet certain requirements. Individual, joint, and retirement accounts are insured separately.

We created My Banking Direct as a digital-only banking platform to offer competitive saving rates to more people.

CDs usually offer higher rates than regular savings accounts. When you open a CD, however, you do so for a specific amount of time, such as 5 months or 5 years. At the end of that period, your CD reaches maturity, and you can withdraw your funds or renew your CD to grow your savings even more.

CDs have a guaranteed fixed interest rate for the entire term, so you’ll know how much your CD will be worth at maturity. You can access your funds before the CD reaches maturity, but you will likely pay a fee to do so.

CDs are a low-risk way to save and an easy way to add balance to your financial portfolio.

We will notify you before your certificate of deposit reaches maturity to let you know your options. Then, you decide whether to withdraw your savings or renew your CD so they can continue growing.

To renew your CD, visit the CD page on My Banking Direct and select Renew CD. You will need to enter your CD account number, zip code, and, last four digits or your Social Security or customer access number.

You can also call our Customer Contact Center at 866-285-1856.

In order to renew your account, the certificate of deposit must be within the grace period without penalty or during the post-maturity period. If your CD doesn't automatically mature into a post-maturity account, it will mature and automatically renew on the current renewal date and same term stated on the pre-renewal notice you receive in the mail.

Renew your Certificate of Deposit today

And continue earning more!

Renew CD

Enjoy secure banking anytime, anywhere with our mobile app3

Use our secure mobile app to deposit checks,4 set alerts, check balances, and more. My Banking Direct, a service of Flagstar Bank, N.A., gives you the confidence to manage your money your way.

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Higher interest, greater growth— start saving smarter today!

Open a High Yield Savings Account at 4.30%APY5 and enjoy higher returns without losing access to your money.

Explore High Yield Savings
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Easy to save. Easy to open.

Open an account anytime, day or night. It’s simple, secure, and takes just minutes. Get started now.

Open now

Product and service availability may vary by location and are subject to area restrictions. My Banking Direct products are available online only. Customers living near any Flagstar Bank branch location may not be eligible. Flagstar Bank product and service offerings can be located at flagstar.com.

1Annual Percentage Yield (APY). 4.25% APY 6-month CD is accurate as of 9/28/2025. The interest rate for the 6-month CD is 4.18%. Annual Percentage Yield (APY) 4.10% APY 12-month CD is accurate as of 9/28/2025. The interest rate for the 12-month CD is 4.02%. Annual Percentage Yield (APY) 3.90% APY 24-month CD is accurate as of 9/28/2025. The interest rate for the 24-month CD is 3.83%. The interest rate remains fixed until maturity. Fees could reduce earnings. A penalty may be imposed for early withdrawals. The minimum balance to open the account and obtain the APY is $2,500. My Banking Direct, a service of Flagstar Bank, N.A. reserves the right to cancel or modify this offer at any time without notice.

2Visit fdic.gov for more information about FDIC insurance coverage.

3Not all devices supported. Available for eligible personal and business deposit account customers only.

4Not all devices supported. Available for eligible personal and business checking and savings account customers only. Must be an active mobile banking user. Must be a customer for a minimum of two business days. Accounts must be in good standing.

5The Annual Percentage Yield (APY) is accurate as of 9/28/2025 rates are variable and are subject to change without notice. The My Banking Direct High Yield Savings is a tiered rate account. The minimum balance to open the account is $500. If your daily balance is $50,000 or more, the APY is 4.30%. If your daily balance is between $10,000.00 and $49,999.99, the APY is 4.30% If your daily balance is between $1.00 and $9,999.99, the APY is 4.30%. My Banking Direct, a service of Flagstar Bank, N.A. reserve the right to change the rate at any time without notice. Fees could reduce earnings.

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