FDIC-Insured—Backed by the full faith and credit of the U.S. Government
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Before you go
Started an application? Complete application.
Key features that make this account right for you
Checking that earns interest
Maintain a $1,000 minimum balance to earn monthly interest.
Access to preferred CD rates2
Earn a higher interest rate on a CD when you open this account.
Exclusive features and amenities
Enjoy higher limits on transfers and mobile deposits,3 as well as a dedicated client service line.
Account features
Premium interest rates for CDs2
Higher transfer and mobile deposit limits3
Dedicated client service line
Stay protected with Debit Card Controls and Account Alerts
Online Banking and Mobile App5 with access to My Credit Score and Money Center
Free access to 56,000+ Flagstar ATMs6 and over 300 branches
Details & ways to waive fees
- $50 minimum opening deposit
- $1,000 minimum balance to earn monthly interest
- $15 monthly service charge, waived when you maintain a $25,000 combined daily average balance in your Flagstar personal deposit accounts7
- FDIC-insured up to at least $250,000 per depositor8
- Must be 18 years of age or older
FAQs for Flagstar Elite Checking
Yes! Flagstar is an FDIC-insured bank, which means customer deposits are insured up to at least $250,000 per depositor for each deposit category.8
Many checking accounts don’t pay interest. However, an interest-bearing checking account earns interest every month. The amount of interest depends on the financial institution, the checking account, and the account balance throughout the month.
For example, Flagstar Elite Checking is our interest-bearing checking account. It takes just $50 to open an account, but you’ll need to meet the $1,000 minimum balance requirement to earn interest.
Before you open any checking account—interest-bearing or not—be sure you understand the fees and how to avoid them, the minimum balance requirements, and any other benefits or limitations.
Most checking accounts have the same core features, such as checks and online access to your account. (To see all the benefits of Flagstar checking accounts, visit our Checking Accounts page.)
Many checking accounts do not earn interest, but an interest-bearing checking account does. The interest rate varies and depends on the financial institution and the account.
Before you open an interest checking account, ask about the fees and requirements to make sure it’s a good fit for the way you bank.
The amount of interest you could earn with an interest-bearing checking account varies by financial institution and account. For example, our Elite Checking account uses a tiered interest rate up to a maximum amount, which means a higher balance will earn a higher rate.
If you know the interest rate of your interest-bearing checking account, use our Compound Interest Rate Calculator to learn how much your checking account balance could grow in a day, a month, a quarter, or a year.
$15 monthly service charge, which you can avoid by maintaining a $25,000 combined monthly average balance in your Flagstar personal deposit accounts. Your linked account(s) must be enrolled in the Flagstar Elite Relationship Program.
When someone opens a checking account, Flagstar may do a soft credit pull, which will not affect their credit score.
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We reserve the right to change account benefits at any time without notice. Certain restrictions may apply. Please see the complete Disclosure Guide for additional details.
Interest rates are tiered to a maximum amount.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.