Established in 1987, Flagstar Bank is headquartered in Troy and is the largest bank in the state of Michigan. The largest publicly traded savings bank based in the Midwest United States, Flagstar is also a leading mortgage lender.
Flagstar Bank’s savings rates are two times higher than the national average, and it takes pride in a 3-star health rating. According to their website, www.flagstar.com, Flagstar Bank is ranked the “Highest in Customer Satisfaction with Retail Banking in the North Central Region Two Years in a Row, tied in 2011.”
As of October 27, 2011, their best Certificate of Deposit account is their 13-Month CD at 1.05% APY. Worth considering are their CD accounts good for 60 to 120 months at 1.35% APY. All of these require just a minimum deposit of $500.
In addition to a high return with a guaranteed rate and no market risk, a bank CD from Flagstar offers much more. Not only can you open a Flagstar CD with a low minimum deposit, you’ll also find Flagstar offers some of the highest CD rates.
By opening a CD account in Flagstar Bank, you can have these benefits, too:
Take pleasure in a ten-day grace period.
Accept quarterly interest disbursements to your bank CD account or monthly to your Flagstar checking, money market or savings account.
Enjoy the security of dealing with an FDIC-insured institution.
You can apply for a Certificate of Deposit at their website and you may call them at 1-800-945-7700 for further information and assistance.