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

Updated: 8/21/2026

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

Interest rates reported as APY

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

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

HQ LocationNew York, NY
Ratings & Trust
4.7iOS 4.5Android A+BBB Not BBB Accredited
Zelle® SupportAvailable
Full native integration in digital banking.
Deposit InsuranceFDIC Insured(Cert: 30394)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	0
Min. Balance in Savings Account	0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

EASY TRANSFERS, LOW MINIMUMS

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FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.20%APY

Go to Quontic Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	10000
Min. Balance in Savings Account	0
Mobile Ratings	iOS:4.8 Android:4.9

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/A	N/A	N/A	N/A
Min. Deposit	$5,000	$10	$100	$250
Min. Balance	$5,000	N/A	N/A	N/A
Monthly Fee	$0, of minimum balance requirement met. Otherwise $6.	N/A	N/A	N/A
Direct Deposit	None	None	None	None
Checking Bundle	No	No	No	No
In-Branch Access	No	Yes	Yes	Yes
Compounding	Daily	Daily	Daily	Daily
FDIC Insured	Yes	Yes	Yes	Yes
Eligibility	United States	United States	United States	United States
Next Steps	-	-	-	-

Interactive Tool

Calculate Savings for Carver Bank

All calculations are based on APY.

Choose savings account

Initial deposit

Recurring deposit

Frequency

Duration

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

Metric	High 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	$5,000	N/A
Monthly Fee	$0, of minimum balance requirement met. Otherwise $6.	-
Direct Deposit	No	-
Checking Bundle	No	-
In-Branch Access	No	-
Eligibility	United States	-
Compounding	Daily	-
FDIC or NCUA Insured	Yes	-
Next Steps	-	-

CD Overview

3.69% Highest APY

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 months	6 months	11 months	12 months	18 months	18 months	24 months	36 months	48 months	60 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/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/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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