Affirm vs. Openbank
Comparing Affirm and Openbank for high-yield savings: Affirm's Affirm Money Account pays 3.20% APY while Openbank's High-Yield Savings Account pays 4.00% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $80 more than Affirm annually ($400 vs $320).
Choose Affirm if mobile app quality matters, or choose Openbank if getting the best rate matters most.
| Metric | AffirmAffirm Money Account May 8, 2026 | OpenbankHigh-Yield Savings Account May 8, 2026 |
|---|---|---|
| APY | 3.20% | 4.00% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.00%, making it the clear winner compared to Affirm's Money Account, which provides an APY of 3.20%. Both accounts are online-only and do not require direct deposit, with Openbank having a minimum deposit of $500 while Affirm has no minimum. Openbank's account stands out for its simplicity and better returns on various deposit amounts, while Affirm is noted for its excellent mobile app experience. Both accounts are FDIC-insured, providing security for depositors.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Affirm?
- ✓Higher rated iOS app (4.9 vs 3.4)
- ✓Higher rated Android app (4.8 vs 3.2)
Why Openbank?
- ✓Higher potential APY (4.00% vs 3.20%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $320/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $800/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
AffirmAffirm offers an iOS app rated 4.9 (vs. 3.4) and Android app rated 4.8 (vs. 3.2)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $80 more interest on a $10,000 balance than Affirm's Affirm Money Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Affirm vs. Openbank Savings Calculator
You earn $80 more with Openbank than Affirm on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $319 per year in interest.
Both Affirm and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Affirm | Openbank |
|---|---|---|
| APY | 3.20% Verified: 5/8/2026 Stable (90d) | 4.00% Verified: 5/8/2026 ↘︎ 0.09%90d Change |
| Product Name | Affirm Money Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | - |
| Next Steps | Visit SiteVerify at Affirm Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | Openbank |
|---|---|---|
| Affirm Money Account | High-Yield Savings Account | |
Current APY | 3.20% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.2 | -2.4 |
Days Since Change | 122 | 38 |
12-Month High | 3.85% | 4.40% |
12-Month Low | 3.20% | 4.00% |
Adjustments / Mo | 0.33 | 0.33 |
Volatility Score | 0.079 | 0.021 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Affirm's APY of 3.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Affirm vs Ally Bank | 3.10% | $0 |
| Affirm vs American Express | 3.20% | $0 |
| Affirm vs Axos Bank | 4.21% | $0 |
| Affirm vs Barclays | 3.75% | $0 |
| Affirm vs Capital One | 3.10% | $0 |
| Affirm vs Chime | 3.00% | $0 |
| Affirm vs CIT Bank | 3.75% | $100 |
| Affirm vs Discover Bank | 3.30% | $0 |
| Affirm vs EverBank | 3.90% | $0 |
| Affirm vs Marcus by Goldman Sachs | 3.50% | $0 |
| Affirm vs Newtek Bank | 4.20% | $0.01 |
| Affirm vs Pibank | 4.40% | $0 |
| Affirm vs SoFi Bank | 4.00% | $0 |
| Affirm vs Synchrony Bank | 3.40% | $0 |
| Affirm vs Varo Bank | 5.00% | $0 |
| Affirm vs Wealthfront | 4.20% | $0 |