OMB Bank
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick 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)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
Feature | High Interest Savings Account |
---|---|
APY | 1.00% (as of 6/20/2025) |
APY Trend | Stable for the last month |
Minimum Deposit | $25 |
Minimum Balance for APY | $0 |
FDIC-insured | Yes |
Online Only | No |
Bundled Account | Yes |
Direct Deposit Required | No |
Compound Frequency | Quarterly |
Maintenance Fee | $0 |
Eligibility | United States |
Note | The 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
Metric | High Interest Savings Account | High Interest Online Savings Account |
---|---|---|
Latest APY | 1.00 % | 4.56 % |
Trend | Sideways | Sideways |
Slope (bps/mo) | 0.0 | -0.0 |
Rate Changes / Mo | 0.00 | 0.00 |
Days Since Last Change | 94 | 94 |
High (-3 m) | 1.00 % | 4.56 % |
Low (-3 m) | 1.00 % | 4.56 % |
Draw-down from High | 0.0 % | 0.0 % |
Volatility (CV) | 0.000 | 0.000 |
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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Feature | OMB Bank | Select a bank... |
---|---|---|
Product | High Interest Savings Account | N/A |
APY | 1.00% (as of 6/20/2025) | N/A |
Bundled Account | Yes | N/A |
FDIC-insured | Yes | N/A |
Online Only | No | N/A |
Compound Frequency | Quarterly | N/A |
Minimum Deposit | $25 | N/A |
Minimum Balance for APY | $0 | N/A |
Maintenance Fee | $0 | N/A |
Direct Deposit Required | No | N/A |
Note | The 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 |