Flagstar Direct, the online banking arm of Flagstar Bank, is advertising their Money Market Savings Accounts that has some of the highest savings account yields around these days. Flagstar Direct’s Money Market Savings Account rates are also higher than the current national average savings account rates.

Flagstar Direct’s Money Market Savings Account rates are tiered for balances under $100,000 and over $100,000. Account balances of $100,000 or more earn a better money market savings account rate and yield.

The current Money Market Savings Account Rate for account balances of $0 to $99,999 is 1.05 percent with an annual percentage yield of 1.06 percent. The current national average savings account rate for account balances of $2,500 is only 0.32 percent.

Money Market Savings Account balances of $100,000 or more earn a higher savings account rate and savings account yield. The current Money Market Savings Account rate for account balances of $100,000 or more (jumbo money market savings account) is 1.19 percent with an APY of 1.20 percent.

That jumbo rate is higher than most 12 month jumbo CD rates. If you’re interested in opening a jumbo certificate of deposit account Flagstar Direct also has a 12 month CD rate of 1.54 percent with an APY of 1.55 percent.

Flagstar Direct Money Market Savings Account Benefits

• The best money market interest rates
• As little as $1 to open
• No minimum balance
• Free checks for life
• Security with an FDIC-insured MMA
• Free Identity Theft Protection

For a list of Flagstar Direct’s current Money Market Savings Account rates and to open an account visit flagstar.com.