What do I need to open a savings account online?

To open a Flagstar savings account online, please have the following information available: Name Address Mobile phone number Date of birth Social Security number or other identification number Valid identification (such as driver's license, state ID, or passport)

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Earn up to $500¹ when you refer friends and family to Flagstar. Learn more

4.00% APY² at account opening

Flagstar Performance Savings

Grow your money faster with a great savings rate.

4.00% APY² with balances of $25,000 or more
$1 to open
$15 monthly fee waived when you maintain at least a $300 average daily balance OR with Flagstar personal checking relationship
FDIC-insured up to at least $250,000 per depositor³

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A great way to Start Saving

Flagstar Ready Savings

Keep your money growing so you’re ready for anything.

Earn interest
$1 to open
$3 monthly fee waived when you maintain at least a $300 average daily collected balance OR with Flagstar personal checking relationship OR account owner is 18 or younger
FDIC-insured up to at least $250,000 per depositor³

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More great savings accounts and rates for you

PerfectHealth Savings

Save for healthcare expenses with PerfectHealth Savings, a health savings account that complements your high deductible health plan.

Flagstar Kids Savings

Let your child practice spending and saving with this no-cost, kid-friendly account.

Club Savings

Save for your annual vacation, holiday expenses, or whatever you want with Club Savings.

Earn up to 4.15% APY⁴ with a CD

Explore our wide range of CD account terms that can help you earn more interest.

Features and tools included in all savings accounts

Online Banking and Mobile App⁵

Free access to 56,000+ Flagstar ATMs⁶ and over 300 branches

Stay protected with Account Alerts

Bank on the go with Mobile Check Deposit⁷

Manage your finances with Money Center

Real-time monitoring with My Credit Score

FAQs for savings accounts

A savings account is a place to keep your money until you need to use it. It usually earns interest, but the amount can vary by bank (or other financial institution) and by account.

You can open a Flagstar savings account at a Flagstar branch, by phone, and, with some accounts, on our website. Then you add money as you’d like, let it earn interest, and use it when you need. There are different types of savings accounts for different needs. Make sure you understand the rules and fees for the account you open so you won’t be surprised later.

To open a Flagstar savings account online, please have the following information available:

Name
Address
Mobile phone number
Date of birth
Social Security number or other identification number
Valid identification (such as driver's license, state ID, or passport)

Yes! Flagstar is an FDIC-insured bank, which means customer savings account deposits are insured up to at least $250,000 per depositor for each deposit category.³

You may also be interested in:

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CD vs. High-Yield Savings: Choose the right account for your goals

Ready to upgrade your savings account? Let’s compare options available to help you earn more interest on your savings.

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.

¹View terms and conditions

Flagstar Performance Savings

²Annual Percentage Yield (APY) is accurate as of 9/23/2025. Tier 1 $0 – $9,999.99 features an annual percentage yield of 0.10%. Tier 2 $10,000.00 – $24,999.99 features an annual percentage yield of 0.10%. Tier 3 $25,000.00 – $49,999.99 features an annual percentage yield of 4.00%. Tier 4 $50,000.00 – $99,999.99 features an annual percentage yield of 4.00%. Tier 5 $100,000.00 – $499,999.99 features an annual percentage yield of 4.00%. Tier 6 $500,000.00+ features an annual percentage yield of 4.00%. The interest rate(s) and annual percentage yield(s) are variable and may change at any time before or after the account is opened. Initial minimum opening deposit to earn the higher interest rate on the Flagstar Performance Savings account is $25,000 and must be “new money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Additionally, (i) account must be funded within 90 days of the approval date, and (ii) early account closure fee may be imposed for accounts closed within 180 days. A maintenance service charge of $15 will be imposed every statement cycle if the average daily collected balance in the account is less than $10,000. The maintenance service charge will be waived if you are the tax reported owner on this account and you are an owner on a Flagstar personal checking account. Fees may reduce earnings. Personal accounts only. Limited time offer. Area restrictions may apply. If you are a Private Bank client, please contact your Private Client Group to enroll.

³Visit fdic.gov for more information about FDIC insurance coverage.

Certificate of Deposit

⁴Annual Percentage Yield (APY). 4.20% APY is accurate as of 9/23/2025 and available as a 6-month term. Fees could reduce earnings. Withdrawals may result in imposition of applicable early withdrawal penalties. $2,500 minimum opening deposit required. Maximum deposit is $10 million. Deposited funds must be “new money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Not available for public units. Certain restrictions, including area restrictions, may apply. Offer subject to change or cancellation at any time without notice. Limited time offer. Important information will be provided to you in the disclosures you receive during the account opening process. Please contact your local branch for more information.

⁵Not all devices supported. Available for eligible personal and business deposit account customers only.

⁶Currency conversion fee may apply to transactions outside the U.S.

⁷Not 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.

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