Barclays vs. Openbank
Comparing Barclays and Openbank for high-yield savings: Barclays's Tiered Savings pays 3.85% 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 $30 more than Barclays annually ($400 vs $370).
Choose Barclays if mobile app quality matters, or choose Openbank if getting the best rate matters most.
| Metric | BarclaysTiered Savings Apr 7, 2026 | OpenbankHigh-Yield Savings Account Apr 7, 2026 |
|---|---|---|
| APY | 3.70% - 3.85% | 4.00% |
Est. Earnings | $5,000+$185 $10,000+$370 $25,000+$925 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | The 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. | - |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.00%, making it the winner in this comparison. This account requires a minimum deposit of $500 but has no minimum balance requirement and no maintenance fees. In contrast, Barclays provides a Tiered Savings account with a higher APY of 3.85% available only for balances over $250,000; lower balances earn 3.70%. While Barclays boasts a superior mobile app experience, Openbank's account is noted for its simplicity, requiring no direct deposit and offering 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.
Why Barclays?
- ✓Higher rated iOS app (4.9 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.5)
Why Openbank?
- ✓Higher potential APY (4.00% vs 3.85%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $370/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $925/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
BarclaysBarclays offers an iOS app rated 4.9 (vs. 3.1) and Android app rated 4.7 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $30 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Barclays vs. Openbank Savings Calculator
You earn $30 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+$370.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,370.00
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 $369 per year in interest.
Both Barclays and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Barclays | Openbank |
|---|---|---|
| APY | 3.85% Range: 3.70% - 3.85% Verified: 4/7/2026 ↘︎ 0.15%90d Change | 4.00% Verified: 4/7/2026 ↘︎ 0.20%90d Change |
| Product Name | Tiered Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $250,000 | $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 | The 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. | - |
| 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 | |
|---|---|---|---|
| Tiered Savings | Online Savings | High-Yield Savings Account | |
Current APY | 3.85% | 3.50% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.4 | -2.4 | -2.5 |
Days Since Change | 46 | 46 | 7 |
12-Month High | 4.40% | 3.90% | 4.40% |
12-Month Low | 3.85% | 3.50% | 4.00% |
Adjustments / Mo | 0.58 | 0.49 | 0.33 |
Volatility Score | 0.032 | 0.024 | 0.023 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Barclays vs...
Comparing against Standard Savings
Compare Openbank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.