Golden 1 offers a wide variety of accounts. They offer free checking, interest-earning checking, and checking for students. They offer CDs, a money market, and a basic savings account. They also offer savings accounts for youth, the holidays, and big purchases. They also offer credit cards, investment options, insurances, and loans.

Golden 1 CDs offer good interest rates. The rates are higher than typical brick and mortar bank rates. They are slightly lower than other online accounts. A few of the CD terms do offer rates that are competitive with other online CDs.

Most Golden 1 Credit Union accounts have low opening required amounts. The opening amounts range from $1 to $100 depending on the account. Some accounts do not have a required amount. The CDs require $1,000 to open. The money market account does require $2,500 to open.

This checking account is set up specifically for students ages 16 and 17. To have this account, you must maintain a B average in school. Teens can have freedom of their own finances and learn to manage their money. There is no required amount or monthly fee. They offer online and mobile banking, and mobile deposit.

To open an account with Golden 1, you must first become a member. If you live or work in California, you qualify to be a member. Family members of other Golden 1 members also qualify. You can qualify if you belong to certain employee groups. If these options do not work, you can join the Financial Fitness Association to become a member.

Not all Golden 1 accounts can be opened online. Some accounts require visiting a local branch location to open. All the CDs and most of the savings accounts can be opened online.

The premier checking account and the money market account both have monthly fees. The fees are $5 each month. You can waive those fees by having a set amount in each of the accounts. The checking account requires $1,000, and the money market account requires $2,500.

Most accounts with Golden 1 do not offer competitive interest rates. The checking, savings, and money market account rates are not competitive with other online accounts. They are competitive with other brick and mortar rates.

Read the full Golden 1 Credit Union review.

Flagstar Bank offers a variety of personal deposit and business accounts. There are three checking accounts to choose from and three savings accounts. They offer a money market account and many CD terms. Lending options are available for personal accounts as well as business. Flagstar offers business checking, savings, money market accounts, and credit cards.

The amounts required to open Flagstar accounts is low. The checking accounts all require $50 to open. The savings accounts and money market account all only require $1 to open. All CD terms only require $500 to open.

Flagstar offers three CDs with competitive interest rates. Those CD terms are a 13-month, 19-month, and 25-month. Each term requires $500 to open. These CDs must be opened in a branch location. They are only available for Michigan residents.

Flagstar offers promotional savings accounts. The interest rates for these three accounts are competitive. They offer a SimplySavings, MaxSavings, and High Yield Promo account. They guarantee the competitive rate for the first 12 months. There is no minimum balance or checking account required during the promo period. After the promotional period, you can choose which account fits you best. Monthly fees apply after the 12 months. These accounts are only for Michigan residents.

The interest rates for Flagstar Bank accounts are low. They are competitive with other brick and mortar bank rates. Most account rates do not compare with interest rates for online accounts. Only a few interest rates are competitive.

Along with being low, the interest rates for Flagstar accounts are tiered. To earn the most competitive rates for the high yield savings account requires $1 million. To earn a good rate requires $50,000. The SimplyMax savings and checking account earns the best rate for balances over $25,000. The money market and SimplyPlus checking account requires $10,000 to earn the best rate.

Flagstar Bank accounts have monthly fees. Checking account fees range from $10 to $25 a month. Waive those fees by keeping a balance of $1,000 to $5,000 in the checking. Alternatively, waive fees by having $5,000 to $25,000 between multiple accounts. Savings and money market account fees range from $3 to $35 a month. To waive those fees requires a $300 to $50,000 balance, depending on the account. Having a checking account will also waive the savings account fees.

At this time Flagstar Bank personal deposit accounts cannot be opened online. You must visit a branch location to open a checking, savings, or money market accounts, and CDs. You can apply for a mortgage online. The option to apply online may be available in the future.

Read the full Flagstar Bank review.