Carver Bank: Savings Account & Rates
Mission: Banksparency aims to make Carver Bank's savings account transparent and comparable to the market.
Savings Overview
High Yield Savings
| Min. Deposit | $5,000 |
| Min. Balance | $5,000 |
| Maintenance Fee | $0, of minimum balance requirement met. Otherwise $6. |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Bank Overview
- HQ LocationNew York, New York
- Founded1948
- Ratings & Trust
- Zelle® SupportAvailableFull native integration in digital banking.
- Deposit InsuranceFDIC Insured(Cert: 30394)
Our Take on Carver Bank
The Good
- Competitive 4.00% APY
- Highly rated mobile apps (iOS: 4.7, Android: 4.5)
Considerations
- Monthly maintenance fee of $0.6
- High minimum balance ($5000) to earn APY
- No physical branch access (online only)
Carver Bank offers a High Yield Savings account with a competitive 4.00% APY. There are no promotional terms, tiered rates, or checking account requirements associated with this product. However, customers should be aware of a monthly maintenance fee of $0.60 and a high minimum balance requirement of $5,000 to earn the stated APY. Additionally, this account is accessible online only, with no physical branch locations. Carver Bank also features highly rated mobile apps, with scores of 4.7 for iOS and 4.5 for Android.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Carver Bank
| Feature | High Yield Savings |
|---|---|
APY | 4.00%Verified: 1/7/2026 |
APY Trend | Very StableNo rate changes in last 90 days |
Min. Deposit | $5,000 |
Min. Balance | $5,000 |
Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Carver Bank
Savings Breakdown
- Interest Earned+$2,434.70(11.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,434.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Carver Bank Savings Rates Over Time
Historical APY Insights
Last 11 Months| Metric | High Yield Savings |
|---|---|
Latest APY | 4.00% |
Trend | Sideways |
Slope (bps/mo) | -1.0 |
Rate Changes / Mo | 0.09 |
Days Since Last Change | 309 |
High (-11m) | 4.25% |
Low (-11m) | 4.00% |
Draw-down | -5.9% |
Volatility (CV) | 0.017 |
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 342-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 | High Yield Savings | - |
APY | 4.00%Verified: 1/7/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $5,000 | - |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Carver Bank's APY of 4.00% with other banks
Alternatives to Carver Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
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Direct Deposit: Min. $1,000/month