Make a bold statement with your savings.

Earn more than 3X the national average savings rate and transform your savings into significant gains.1

Open Now

Unlock the potential of every dollar.

1.19% APY2

Earn more than 3X the national average savings account rate.1

Open Online

Open in minutes online and access your savings from anywhere using the BayFirst Mobile Banking app and online banking.

Low Minimum to Open

Get started with an initial deposit of only $50.

Our features make a bold statement.

Account Features

  • $50 minimum deposit to open
  • Earn 1.19% APY2 (Annual Percentage Yield)
  • Up to six transactions per month

Online & Mobile Banking

  • BayFirst Mobile Banking App
  • Online banking and bill pay
  • Mobile deposit and free eStatements
  • Free bank-to-bank transfers
  • Get paid up to two days early with Forward Pay
  • Free credit score monitoring

Other Benefits

  • Up to $250,000 insured by the FDIC
  • Customer support through the BayFirst Call Center

Why BayFirst?

At BayFirst, we’re Here for What’s Next® for those looking to maximize their savings and have easy access to their funds. When it comes to the best high-yield savings accounts, make your own banking statement with one of the highest interest rates around, plus all of the perks and benefits that come with banking at BayFirst.

Opening couldn’t be easier.

Open in Minutes

Provide us some basic information to open your account in minutes online or in person.

Make a Deposit

Fund your account by depositing as little as $50 to get started.

Sit Back & Save

With interest compounding daily and paid monthly, you’ll watch your savings grow.

Let’s Get Started

What’s Next starts now.

Earn up to 1.19% APY today.2

Get Started

Statement Savings FAQ

What is a statement savings account best used for?

A Statement Savings account is a great option for people who need access to their funds less frequently but also want to earn interest on the balances they are able to maintain in savings.

What’s the difference between a checking and a savings account? Should I open both?

A checking account is designed for everyday transactions, such as deposits, withdrawals, and bill payments, often providing access via debit cards and checks. A savings account is intended for saving money over time, typically offering higher interest rates but with more limited free transactions allowed. Many people open both to have a checking account for daily use and a savings account for growing savings with interest.

What is the interest rate for the Statement Savings account?

The interest rate for our Statement Savings account is 1.19% APY, compounded daily and credited monthly. Rates are subject to change, so please contact us for the most current rate.

Does my account come with a debit card?

No, our Statement Savings account does not come with a debit card. However, you can open any BayFirst checking account, which will come with a debit card and can be linked to your savings account for easy transfers and overdraft protection.

Can I access my account online and through mobile banking?

Yes, you can access your Statement Savings account through our online banking platform and mobile app.

How many withdrawals can I make each month?

You can make up to six free withdrawal or transfer transactions per month without incurring a fee. Fees may apply if you exceed the limit of six transactions per month.

Can I set up automatic transfers to my savings account?

Yes, you can set up automatic transfers from any checking account to your statement savings account. This can be done through online banking or by contacting a bank representative.

What happens if I fall below the minimum balance?

If your account balance falls below the required minimum daily balance of $50, a monthly maintenance fee of $3 will be applied to your account. To avoid this fee, make sure that your balance remains above the minimum requirement.

1. Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of April 2, 2026.

2. Statement Savings accounts will receive 1.19% APY (Annual Percentage Yield) on all balances. Rates are variable and are subject to change at the bank’s discretion. Rates are calculated on a daily balance method. Minimum $50 to open. A service charge of $3.00 will be imposed every statement cycle if the daily balance on any day of the statement cycle falls below $50. Rate is effective as of 4/2/2026. Fees could reduce earnings.