Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.40%(Verified 07/03/2024)
Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$0.01
Freedom Bank High Yield Savings Account Review
Freedom Bank High Yield Savings Account is offered by Freedom Bank, a bank founded in 2008 and based in Maywood, NJ. Freedom Bank High Yield Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Higher than average APY. Freedom Bank High Yield Savings Account has an annual percentage yield of up to 0.40%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $0.01 to earn that interest rate.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
- No ATM fees. Freedom Bank High Yield Savings Account does not charge fees on ATM transactions .
Freedom Bank High Yield Savings Account Pros & Cons
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Freedom Bank High Yield Savings Account FAQ
Are savings accounts from Freedom Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Freedom Bank offer a signup bonus?
Freedom Bank High Yield Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Freedom Bank High Yield Savings Account?
There is no minimum deposit to open a Freedom Bank High Yield Savings Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Freedom Bank High Yield Savings Account offer?
Freedom Bank High Yield Savings Account offers an APY of 0.40% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Freedom Bank High Yield Savings Account charge?
Freedom Bank High Yield Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Freedom Bank High Yield Savings Account offer?
This savings account includes the following features:
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Freedom Bank High Yield Savings Account allows you to manage your money online or with a mobile app.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Freedom Bank High Yield Savings Account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Freedom Bank High Yield Savings Account?
The customer support email for Freedom Bank High Yield Savings Account is info@freedombanknj.com.
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Hours of Operation
SundayClosedMonday8:30AM - 5:00PMTuesday8:30AM - 5:00PMWednesday8:30AM - 5:00PMThursday8:30AM - 5:00PMFriday8:30AM - 5:00PMSaturdayClosed
Other Services by Freedom Bank
Other Savings Accounts from Freedom Bank
Rating not yet determined
APY (Annual Percentage Yield)
1.74% - 2.97%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$0.01
Rating not yet determined
APY (Annual Percentage Yield)
0.15%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$0.01
Rating not yet determined
APY (Annual Percentage Yield)
0.15%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
$0.01
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