On Your High Interest Checking Account Now,
With Fewer Restrictions Than Other Banks!
*Annual Percentage Yield (APY) of 3.00% is accurate as of 6/26/2025. Rates may change after account is opened. Fees may reduce earnings on the account. Terms and conditions apply. To qualify, a minimum opening deposit of $5,000 is required. If the account is closed within 12 months of the opening date, a $50 early closure fee will apply. Should the account balance fall below $5,000, it will earn an APY of 0.10%. If the balance returns to $5,000 or more, the account will resume earning the higher APY. Funds must be new to The Federal Savings Bank, meaning they are not currently held at the bank. For additional terms and conditions, call (833) 692-1045 or send an email to [email protected].
Is your bank making you jump through hoops to earn a
high interest rate on your high yield checking account?
At The Federal Savings Bank, when you open a high interest checking account, we
promise:
The Federal Savings Bank prides itself on being a national bank with a hometown feel. We can serve your personal needs, whether you are an individual looking for financial empowerment or a business seeking banking services.
We offer:
For more information about your banking options or to open an account, call 877.788.3520 to speak with one of our business bankers.
**Promotional Rates CD – New Money**
For customers who have renewals, please call customer service at 847-234-8484
Term Limit to obtain APY | Interest Rate | Annual Percentage Yield (APY) |
---|---|---|
12 Months | 4.169% | 4.25% |
18 Months | 3.979% | 4.05% |
2 Year | 3.925% | 4.00% |
3 Year | 3.880% | 3.95% |
4 Year | 3.735% | 3.80% |
5 Year | 3.735% | 3.80% |
Click here to open a CD account |
*Annual Percentage Yield (APY) is accurate as of 04/16/2025 and is subject to change. $5,000.00 minimum deposit to open and earn the stated CD APY, assumes interest remains on deposit until maturity. Offer valid for renewals and funds not currently on deposit with The Federal Savings Bank. A penalty may be imposed for early withdrawal, which would reduce earnings. For additional terms and conditions, call (847) 234-8484 or send an email to [email protected].
**Virtual Money Market**
Minimum Balance to Open | Interest Rate | Annual Percentage Yield (APY) |
---|---|---|
$2,000 | 2.47% | 2.50% |
Minimum required to open a Virtual Money Market Account is $2,000.00. The above APY is based upon the interest rate and balance of $2,000.00. The above APY is accurate as of the effective date stated above. Rate and APY are variable and may change after the account is opened. Fees may reduce earnings on the account.
1 Year and 18 Month CD, penalty is 180 days’ worth of interest. 2, 3 and 5 Year CD’s penalty is 365 days’ worth of interest.
Interest is accrued daily, and compounded monthly.
Funding can be through a wire transfer, ACH or mailing a check.
IRA’s do qualify for this promotion.
No bank membership is required, nor do you need to open a checking or savings.
All CD’s have a 10-day grace period at maturity and will auto renew after this time.
Request to close a CD at maturity, we can only mail a bank check, no wires or ACH method is available.
Additional disclosures and account information is available once you start your application.
Below rates and APYs are for reflective for Consumer Interest Checking and Savings Accounts. All rates are active as of 4/16/2025.
Minimum Balance to Open Account | Minimum Account Balance to obtain APY | Interest Rate | Annual Percentage Yield (APY) |
---|---|---|---|
$100.00 | $100.00 | 0.10% | 0.10% |
Minimum required to open a Consumer Interest Checking Account is $100.00. The above APY is based upon the interest rate and balance of $100.00. The above APY is accurate as of the effective date stated above. Rate and APY are variable and may change after the account is opened. Fees may reduce earnings on the account.
Minimum Balance to Open Account | Minimum Account Balance Required | Interest Rate | Annual Percentage Yield (APY) |
---|---|---|---|
$25.00 | $0.00 | N/A | N/A |
Minimum required to open an Consumer Value Checking Account is $25.00. The Consumer Value Checking Account is not eligible to earn interest. This is a non-interest earning product.
Minimum Balance to Open Account | Minimum Account Balance to obtain APY | Interest Rate | Annual Percentage Yield (APY) |
---|---|---|---|
$25.00 | $100.00 | 0.25% | 0.25% |
Minimum required to open a Savings Account is $25.00. The above APY is based upon the interest rate and balance of $100.00. The above APY is accurate as of the effective date stated above. Rate and APY are variable and may change after the account is opened. Fees may reduce earnings on the account.