Flagstar Bank is advertising a 6-Month CD with a yield of 10% apy (annual percentage yield). The minimum opening balance required for this CD is $500 and there is a maximum balance limit of $2,500. Accounts must be opened with funds not already on deposit at Flagstar Bank.

To qualify for the CD, customers must open a new checking account. The offer requires customers to have at least 15 transactions, such as bill payments through online banking and other debits and credits except interest deposits, or at least $250 in direct deposit of income per month.

A $100 penalty will be imposted against the CD balance if checking account is closed before initial 6-Month Cd term expires. A penalty will be imposed for early withdrawal on the CD.