Barclays vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BarclaysTiered Savings Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 3.85% - 4.00% | 4.20% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | - |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android App | FDIC InsuredLow Minimums |
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.
As of Barclays offers an APY of 4.00% for its Tiered Savings account, with a minimum balance of $250,000, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $35 more than Barclays on a $10,000 balance after one year. Barclays pays $385 (with an effective APY of 3.85%), while Openbank pays $420 - an APY advantage for Openbank.
In addition, Barclays also offers 3.60% APY for the Online Savings account, with a minimum balance of Enough to earn $0.01 in interest.
Why Barclays?
- ✓Higher rated iOS app (4.9 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.9)
- ✓Offers 2 different high-yield savings options
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.60%-4.00%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $385/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $963/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
BarclaysBarclays offers an iOS app rated 4.9 (vs. 3.1) and Android app rated 4.7 (vs. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $35 more interest on a $10,000 balance than Barclays's Tiered Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the winner in this comparison. This account requires a minimum deposit of $500 and has no maintenance fees, providing straightforward access to higher interest rates without complex conditions. In contrast, Barclays features a Tiered Savings account that offers a 4.00% APY for balances over $250,000, with a lower APY of 3.85% for smaller balances. Although Barclays has a well-rated mobile app experience, Openbank's account is noted for its simplicity and better returns on smaller deposits.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Barclays vs. Openbank Savings Calculator
You earn $35 more with Openbank than Barclays 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.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Barclays | Openbank |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | Tiered Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $250,000 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.7 | iOS3.1 Android2.9 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | - |
| Next Steps | Visit SiteVerify at Barclays Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | Openbank | |
|---|---|---|---|
| Online Savings | Tiered Savings | High-Yield Savings Account | |
Current APY | 3.60% | 4.00% | 4.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.6 | -3.8 | -3.0 |
Days Since Change | 42 | 49 | 169 |
10-Month High | 3.90% | 4.40% | 4.75% |
10-Month Low | 3.60% | 4.00% | 4.20% |
Adjustments / Mo | 0.48 | 0.57 | 0.29 |
Volatility Score | 0.025 | 0.031 | 0.027 |
How to read these metrics(Click to expand)
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