Flagstar Bank is offering the highest 12 month Certificate of Deposit rate at 4.40% APY in selected states. The minimum deposit is only $500 and it can be opened as an IRA account.

Flagstar Bank is also offering a competitive, 25 basis points lower 18 month CD at 4.15% APY yields. The deposit requirements and characteristic will be the same as the 12 month CD.

Branch visits will not be required for sign up because this rate is only available through an online application. Furthremore, this CD account is for personal use only, it cannot be brokered or opened as a corporate account. The penalty for early withdrawal on a 12 to 29 month CD account will be 180 days of interest.

Flagstar Bank is a member of the FDIC, (Certificate # 32541). For more information, please visit Flagstar Bank’s CD rates homepage.