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Carver Bank: Savings Accounts, CDs, Money Market & Rates

By Aviel Fahl

|

Updated: 8/21/2026

Mission: Banksparency aims to make Carver Bank's deposit accounts transparent and comparable to the market.

Interest rates reported as

Analysis of Carver Bank

Our verdict

Carver Bank offers High Yield Savings, a high-yield savings account paying 4.00% APY with a $5,000 minimum deposit. A minimum balance of $5,000 is required to earn this rate.

At 4.00% APY, Carver Bank pays 11x the national savings average of 0.38%.

Additional Accounts

  • Money Market, a money market account at 0.50% APY.
  • Relationship Savings, a savings account at 0.10% APY.
  • Carver Savings, a savings account at 0.10% APY.

Ideal User Profile

  • Best for: earning a top rate with no strings attached, banking without needing a branch, and quick transfers with Zelle.

CD Analysis

Carver Bank also offers CDs paying up to 3.69% APY on its 3 months term, across 9 term lengths.

Tracking 10 active CD products, useful for locking in today's rate before further moves at the Fed.

  • Best CD use: locking in 3.69% APY for a 3 months term and laddering across multiple maturities.

IRA Analysis

Carver Bank also offers an IRA savings account paying up to 0.10% APY.

Tracking 1 active IRA savings product, useful for tax-advantaged retirement savings.

  • Best IRA use: tax-advantaged retirement saving.

Key Differentiators

  • Stands out with top-rated iOS app (4.7), A+ BBB rating, Zelle for instant transfers.

Deposit Accounts Overview

High Yield Savings

Savings Top 20 Rate
4.00% APY
Min: $5,000 Online Only
Rank #17 of 337 tracked.

Carver Savings

Savings
0.10% APY
Min: $100 Branch Access
Rank #246 of 337 tracked.

Relationship Savings

Savings
0.10% APY
Min: $250 Branch Access
Rank #247 of 337 tracked.

Youth Savings

Savings
0.10% APY
Min: $10 Branch Access
Rank #248 of 337 tracked.

Money Market

Money Market
0.50% APY
Min: $250 Branch Access

Savings Liquit IRA

IRA Savings
0.10% APY
Min: $100 Branch Access

Prefer In-Person Banking?

This institution is online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.

Find In-Branch Access
National Avg: 0.38% (FDIC, 8/1/2026).
Banksparency tracks live rates daily.

Bank Overview

Deposit Accounts: In-Depth View

Savings Accounts Offered by Carver Bank

Feature
High Yield Savings
Youth Savings
Carver Savings
Relationship Savings
APY
4.00%Verified: 8/21/2026
0.10%Verified: 8/21/2026
0.10%Verified: 8/21/2026
0.10%Verified: 8/21/2026
APY Trend
N/AN/AN/AN/A
Min. Deposit
$5,000$10$100$250
Min. Balance
$5,000N/AN/AN/A
Monthly Fee
$0, of minimum balance requirement met. Otherwise $6.N/AN/AN/A
Direct Deposit
None
None
None
None
Checking Bundle
NoNoNoNo
In-Branch Access
No Yes Yes Yes
Compounding
DailyDailyDailyDaily
FDIC Insured
Yes Yes Yes Yes
Eligibility
United StatesUnited StatesUnited StatesUnited States
Next Steps----

Interactive Tool

Calculate Savings for Carver Bank

All calculations are based on APY.

$
$
Frequency

Savings Breakdown

  • Interest Earned
    +$2,434.70(11.9%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,434.70

Effective APY
4.00%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Carver Bank Deposit Rates Over Time

Historical APY Insights

Last 12 Months
MetricHigh Yield Savings
Latest APY
4.00%
Trend
Sideways
Slope (bps/mo)
0.0
Rate Changes / Mo
0.00
Days Since Last Change
361
High (-12m)
4.00%
Low (-12m)
4.00%
Draw-down
0.0%
Volatility (CV)
0.000
How to read these metrics
Trends & Velocity
Trend
The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo)
Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo
"Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
High/Low
The absolute ceiling and floor of the rate during the 363-day window.
Volatility Score
Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change
If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with Carver Bank

Feature
Current View
Carver Bank
Empty Slot
Product-
APY
4.00%Verified: 8/21/2026
-
APY Trend
N/A
-
Min. Deposit$5,000N/A
Monthly Fee$0, of minimum balance requirement met. Otherwise $6.-
Direct Deposit
No-
Checking Bundle
No-
In-Branch AccessNo-
Eligibility United States-
Compounding
Daily-
FDIC or NCUA Insured
Yes-
Next Steps--

CD Overview

3.69% Highest
Across 10 CD products with terms: 18 months, 24 months, 36 months, 48 months, 60 months, 6 months, 3 months, 12 months, 11 months

CD Products Offered by Carver Bank

Feature
91 Day CD
3 months
182 Day CD
6 months
11 Month CD
11 months
12 Month CD
12 months
18 Month CD
18 months
18 Month HI-Rise CD
18 months
24 Month CD
24 months
36 Month CD
36 months
48 Month CD
48 months
60 Month CD
60 months
APY
3.69%Verified: 8/21/2026
3.59%Verified: 8/21/2026
3.59%Verified: 8/21/2026
3.43%Verified: 8/21/2026
3.17%Verified: 8/21/2026
3.43%Verified: 8/21/2026
3.17%Verified: 8/21/2026
3.17%Verified: 8/21/2026
3.17%Verified: 8/21/2026
3.17%Verified: 8/21/2026
Term
3 months6 months11 months12 months18 months18 months24 months36 months48 months60 months
Min. Deposit
$2,500$2,500$2,500$2,500$1,000$2,500$1,000$1,000$1,000$1,000
Early Withdrawal
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
FDIC Insured
Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Carver Bank CD Rates Over Time

Money Market Accounts Offered by Carver Bank

Feature
Money Market
APY
0.50%Verified: 8/21/2026
Min. Deposit
$250
Min. Balance
N/A
Monthly Fee
N/A
Direct Deposit
None
In-Branch Access
Yes
Compounding
Daily
FDIC Insured
Yes
Eligibility
United States

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