From simple savings to high-yield accounts to CDs and IRAs, First Federal Bank of Kansas City has the savings accounts built to support your financial goals. And by saving with a community mutual bank, you'll partner with a bank that’s as committed to your community as it is to you.
GROW Savings Account
Take the first step in your savings strategy with our high-yield GROW Savings Account. A GROW account is built for you if you’re looking to jump-start your personal savings and get closer to your goals.
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First Savings Plus
With a First Savings Plus account, you get a higher interest rate just for having a First Federal checking account. It’s a savings account great for saving for anything, from college, a future home, or building an emergency fund.
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Statement Savings
Keep saving simple with a Statement Savings account. You'll earn interest and have full access to your money from our Digital Banking. It's the perfect account for tracking your savings growth.
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Money Market
Money Market gives you the convenience of a checking account, with higher money market interest rates. And the more you save, the more you’ll earn with tiered interest rates.
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Premier Money Market
Ready to really step up your savings? With a Premier Money Market account, you earn a higher rate the more you save. All without sacrificing access to your money.
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Minor Savings
Help your kids learn some money basics with a Minor Savings account. There's no monthly fee, and they can earn interest on their money, making it a great way to teach them the value of saving.
Account detailsOur account features
All of our savings accounts come with these great features. Compare our accounts below and see which one might be right for you.
Free mobile and online banking that includes free budgeting and money management tools
Free e-Statements
Easily transfer funds to and from any FFBKC checking account
Linking your savings account to your First Federal Bank checking account gives you access to your money through free MoneyPass® and Allpoint® ATMs nationwide
More savings options
What is the best type of savings account for you?
Browse our accounts to find the perfect account to strengthen your savings.
GROW Savings Account
Saving is easier with First Federal Bank of Kansas City's high-yield GROW Savings Account. Feel the pride of saving when you earn interest while you save.
Saving is rewarded with our high-yield GROW Savings Account. That's because you earn 5.00% APY* for balances up to $2,499.99. If saving money has felt out of reach, knowing your money is earning a great rate in your account can be the jump start you need to create great saving habits. Get started now and watch your savings GROW.
Account details
- Only $25 deposit to open
- No minimum account balance required
- Earn interest to boost your savings balance
- No maintenance fees
- An active checking account is required to open a GROW Savings Account
- Limited to one GROW Savings Account per tax reporting account owner
Learn more about the benefits of our high-yield GROW Savings Account
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $2,499.99 | 4.89% | 5.00% |
| $2,500 and over | 0.10% | 0.22 to 5.00% |
Requires a $25 deposit to open. Account requires an active consumer checking account.
*APY = Annual percentage yield. Rate and APY may change any time after account is opened. Fees may reduce earnings in account.
Open a GROW Account today!
First Savings Plus
It's the simple way to earn interest and watch your savings grow.
A First Savings Plus account is a perfect place to keep your savings, whether it's for college, emergency savings, or a rainy day fund! You're rewarded with a higher interest rate on your savings just by pairing it with a First Federal checking account. It's the simple way to boost your savings and avoid fees.
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- Just a $50 deposit to open
- No maintenance service charge when you keep a $50 daily balance in your account**
- Get rewarded with a higher interest rate – available exclusively to First Federal Bank checking accountholders
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $999.99 | 0.10% | 0.10% |
| $1,000 and over | 0.20% | 0.20% |
Requires a $50 deposit to open.
*APY = Annual percentage yield. Rate and APY may change any time after account is opened. Fees may reduce earnings in account.
**A $50 minimum balance is required to avoid $3.00 monthly maintenance service charge.
Open a First Savings Plus account today!
Statement Savings
A Statement Savings account helps you keep track of your savings growth with receipts for each transaction and a monthly summary of all account activity.
Saving for a vacation, to purchase a new home, or another life milestone? With Statement Savings, you can watch your money grow in an interest-bearing account.* Link it with your First Federal checking account for overdraft protection and schedule automatic transfers from your checking account to help your savings rise.
Account details
- Get receipts for each transaction and a monthly summary of all account activity
- Earn interest on your savings
- Set automatic withdrawals and deposits from your First Federal checking account
- $200 deposit to open
- No maintenance service charge if your daily account balance stays above $200
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $999.99 | 0.10% | 0.10% |
| $1,000 and over | 0.15% | 0.15% |
Requires a $200 deposit to open.
*APY = Annual Percentage Yield. Rate can change after account is opened. Fees can reduce earnings on the account.
Open a Statement Savings account today!
Money Market
Get the benefit of higher money market interest rates while maintaining access to your funds.
With a Money Market, you get the best of both worlds. You'll have the convenience of a checking account with a free Visa® debit card, availability for direct deposit, and check writing access. All with higher money market interest rates.
Account details
- Access to funds through ATM withdrawals or Money Market checks
- Direct deposit availability for payroll and government checks
- $1,000 deposit to open
- No maintenance service charge as long as you maintain a $1,000 minimum daily balance
- Free Visa debit card
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $4,999.997 | 0.10% | 0.10% |
| $5,000 – $9,999.99 | 0.10% | 0.10% |
| $10,000 – $24,999.99 | 0.10% | 0.10% |
| $25,000 – $49,999.99 | 0.15% | 0.15% |
| $50,000 – $99,999.99 | 0.15% | 0.15% |
| $100,000 and over | 0.25% | 0.25% |
Requires a $1,000 deposit to open.
*APY = Annual Percentage Yield. Rate can change after account is opened. Fees can reduce earnings on the account.
7 - A $1,000 minimum balance is required to avoid maintenance service charge.
Open a Money Market account today!
Premier Money Market
Our Premier Money Market account elevates your savings with higher-yield interest rates, while giving you the flexibility of a savings account.
Get the exclusive treatment with a Premier Money Market account. A Premier Money Market is perfect for those with big savings dreams who want to grow their savings while having easy access to their funds. Plus, the more you save, the more you can earn with our competitive rates.
Account details
- Access to funds through ATM withdrawals or Money Market checks
- Available exclusively to First Federal Bank checking accountholders
- Earn competitive rates without tying up your money
- Your rate increases the more you save
- $2,500 deposit to open
- No maintenance service charge when you keep a $2,500 daily balance in your account**
- Free Visa debit card
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $24,999.99 | 0.50% | 0.50% |
| $25,000 – $49,999.99 | 0.60% | 0.60% |
| $50,000 – $99,999.99 | 0.75% | 0.75% |
| $100,000 – $249,999.99 | 0.80% | 0.80% |
| $250,000 and over | 1.00% | 1.00% |
Requires a $2,500 deposit to open.
*APY = Annual percentage yield. Rate and APY may change any time after account is opened. Fees may reduce earnings in account.
**A $2,500 minimum balance is required to avoid $10.00 monthly maintenance service charge.
Open a Premier Money Market account today!
Minor Savings
Help your kids (or grandkids) learn some money basics with a Minor Savings account. Great for kids, teens, or even high-school students preparing for college.
Minor Savings offers a free, interest-bearing account that includes access to mobile and online banking. There's no monthly fee, and your kids can earn interest on their money, making it a great way to teach them the value of saving.
Account details
- No maintenance service charge (as long as your child is younger than 18)
- Earn up to 0.15% APY*
- Free e-Statements
- $25 minimum deposit to open
Minors between the ages of 11-17 are allowed to open a Minor Savings Account that includes another joint owner who is at least 18 years of age and is the minor’s parent, grandparent, guardian or spouse. Minor must be at least 13 years old to open an account online. Minors ages 11-12 must open an account in branch with their joint accountholder. All parties must provide identification acceptable to First Federal Bank. Upon turning 18, your Minor Savings Account will be converted to a regular Statement Savings Account.
Deposit rates
| Minimum Balance to Earn APY | Interest Rate | APY* |
|---|---|---|
| $0 – $999.99 | 0.10% | 0.10% |
| $1,000 and over | 0.15% | 0.15% |
Requires a $25 deposit to open.
*APY = Annual Percentage Yield. Rate may change after account is opened. Fees can reduce earnings on the account.
Open a Minor Savings account today!
Frequently Asked Savings Account Questions
What are the types of savings accounts?
There are several kinds of savings accounts, and each one is designed to help you save in different ways
Traditional savings accounts typically offer easy access to your money and a modest interest rate, making them a good place to keep an emergency fund.
High-yield savings accounts usually pay a higher interest rate than traditional savings accounts and are great if you are trying to build your savings for a specific goal.
Money market savings accounts combine features of savings and checking accounts. They are great for saving while still having easy access to your money, and can offer higher interest rates and allow some check writing or debit access.
Youth savings accounts are accounts created specifically for minors below the age of 18 and need a joint owner who is at least 18 years of age and is the minor’s parent, grandparent, guardian or spouse. They're great for teaching kids the value of saving!
Choosing the right account depends on your savings goals, how often you need to access your funds, and the interest rate you want to earn.
How do I start using digital banking or the mobile app?
All First Federal accounts offer an easy-to-use online banking platform and app to view and manage all of your accounts. Account holders must be at least 13 years old to enroll in online banking.
Click here to learn how to set up and use digital banking for your accounts >
Are saving accounts FDIC insured?
Yes—savings accounts deposits are insured by the FDIC up to $250,000 per depositor, per bank, per ownership category.
How much can I make with $1000 in a high-yield savings account?
Your earnings depend on the account’s annual percentage yield (APY) and how long you keep the money in the account.
For example:
- At 4.00% annual percentage yield (APY), a $1,000 deposit would earn $40 in interest over one year.*
- At 5.00% APY, the same deposit would earn $50 in one year.*
Use our savings calculator, powered by Banzai, to calculate how much you can earn with a high-yield account!
*Examples given and Banzai calculator do not include crediting and compounding timing.
Are saving accounts taxed?
Yes, the interest you earn from a savings account is generally considered taxable income.
At the end of the year, we will send you a Form 1099-INT. You’ll report this interest on your federal tax return, and it may also be subject to state income tax depending on where you live.
If you have questions about how interest income affects your taxes, it’s always a good idea to consult a tax professional.
Does First Federal offer financial and budgeting help?
Along with our helpful universal bankers at 9 banking centers throughout the greater Kansas City area, First Federal offers numerous online learning courses and resources. You can also access My Money Manager, a powerful money management and budgeting tool, directly in online banking or your mobile app.
What are the benefits of opening a savings account with a mutual community bank?
Mutual banks (like us) are true community banks. We don't have owners or stockholders. This means we’re focused entirely on your success, and our profits are reinvested back into the bank and the communities we serve.
All accounts subject to approval. Restrictions and limitations apply. Product terms subject to change.
