OMB Bank

Last Updated: 6/20/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

High Interest Savings Account: 1.00% APY(Rank 78 out of 87 savings accounts)

Minimum Deposit: $25 | Bundled Savings & Checking Account

National Savings Interest Rate: 0.42% (as of 5/19/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

BBB Rating: A+

App Store Rating: 4.7/5

Google Play Rating: 4.5/5

Website: Visit OMB Bank

Our Take on OMB Bank

Highlights

  • 1.00% APY for balances up to $100,000.
  • No maintenance fees or minimum balance required.
  • A+ BBB rating indicates high trustworthiness.
  • App Store rating of 4.7 and Google Play rating of 4.5.

Considerations

  • Requires an OMB High Interest Checking or OMB Rewards Checking account.
  • APY drops to 0.25% for balances over $100,000.
  • No branches available for in-person service.
  • Direct deposit is not required but may limit access to certain features.
Summary: OMB Bank offers a competitive 1.00% APY on its High Interest Savings Account for balances up to $100,000, with no maintenance fees. However, savers must maintain an OMB High Interest Checking or OMB Rewards Checking account to earn this rate, and the APY significantly drops for higher balances. The bank has an A+ BBB rating and strong app ratings, but it lacks physical branches, which may be a consideration for some customers.

Savings Account

Savings Account Offered by OMB Bank

FeatureHigh Interest Savings Account
APY
1.00% (as of 6/20/2025)
APY TrendStable for the last month
Minimum Deposit$25
Minimum Balance for APY$0
FDIC-insured
Yes
Online OnlyNo
Bundled Account
Yes
Direct Deposit Required
No
Compound Frequency
Quarterly
Maintenance Fee$0
EligibilityUnited States
NoteThe 1.00% APY is only available for balances up to $100,000. For balances above that, the APY is 0.25%. Requires an OMB High Interest Checking or OMB Rewards Checking account as well as qualifying activities to earn the APY.

No deposit agreement summary available for this bank.

Calculate Savings for OMB Bank

All calculations are based on APY.

High Interest Savings Account (APY: 1.00%)

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $1 (0.99%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $100 (99.01%)

Your total balance

$101.00

Effective APY: 1.00% (based on your deposit and contributions)

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

OMB Bank Savings Rates Over Time

Historical APY Insights

MetricHigh Interest Savings AccountHigh Interest Online Savings Account
Latest APY1.00 %4.56 %
TrendSidewaysSideways
Slope (bps/mo)0.0-0.0
Rate Changes / Mo0.000.00
Days Since Last Change9494
High (-3 m)1.00 %4.56 %
Low (-3 m)1.00 %4.56 %
Draw-down from High0.0 %0.0 %
Volatility (CV)0.0000.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 3 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-3 m)
Highest APY in the last 95 days.
Low (-3 m)
Lowest APY in the last 95 days.
Draw-down from High
How far today sits below the 3-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Compare OMB Bank's Savings Account

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  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.26% APY
  • TD Bank - 0.05-3.00% APY
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  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
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FeatureOMB BankSelect a bank...
ProductHigh Interest Savings AccountN/A
APY
1.00% (as of 6/20/2025)N/A
Bundled Account
YesN/A
FDIC-insured
YesN/A
Online OnlyNoN/A
Compound Frequency
QuarterlyN/A
Minimum Deposit$25N/A
Minimum Balance for APY$0N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A
NoteThe 1.00% APY is only available for balances up to $100,000. For balances above that, the APY is 0.25%. Requires an OMB High Interest Checking or OMB Rewards Checking account as well as qualifying activities to earn the APY.N/A