Betterment vs. Carver Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BettermentCash Reserve Jan 7, 2026 | Carver BankHigh Yield Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.25% | 4.00% |
Est. Earnings | $5,000+$163 $10,000+$325 $25,000+$813 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $10 | $5,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android App | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Betterment vs. Carver Bank
As of Betterment offers an APY of 3.25% for its Cash Reserve account, with a minimum balance of $0, compared to Carver Bank's 4.00% APY for its High Yield Savings account, with a minimum balance of $5,000.
Carver Bank pays $75 more than Betterment on a $10,000 balance after one year. Betterment pays $325, while Carver Bank pays $400 - an APY advantage for Carver Bank.
Why Betterment?
No distinct advantages found vs Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.25%)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $325/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $813/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $75 more interest on a $10,000 balance than Betterment's Cash Reserve.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Carver Bank offers a High Yield Savings account with a competitive 4.00% APY, making it the winner in this comparison. This account requires a minimum deposit and balance of $5,000 but has no maintenance fees if the balance requirement is met. In contrast, Betterment's Cash Reserve provides a lower APY of 3.25% with a minimum deposit of just $10 and no minimum balance requirement, making it a more accessible option for those looking to start with a smaller amount. Both accounts are online-only and do not require direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Betterment vs. Carver Bank Savings Calculator
You earn $75 more with Carver Bank than Betterment 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.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$325.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,325.00
Carver Bank
High Yield Savings
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.
| Feature | Betterment | Carver Bank |
|---|---|---|
| APY | 3.25% Verified: 1/7/2026 ↘︎ 0.50%90d Change | 4.00% Verified: 1/7/2026 Stable (90d) |
| Product Name | Cash Reserve | High Yield Savings |
| Minimum Deposit | $10 | $5,000 |
| Min. Balance for APY | $0 | $5,000 |
| Monthly Fee | $0 | $0, of minimum balance requirement met. Otherwise $6. |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.7 | iOS4.7 Android4.5 |
| Zelle® Support | Not Supported | Available Full native integration in digital banking. |
| BBB Rating | A- | A+ |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at Carver Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Carver Bank |
|---|---|---|
| Cash Reserve | High Yield Savings | |
Current APY | 3.25% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.3 | -1.0 |
Days Since Change | 25 | 309 |
11-Month High | 4.00% | 4.25% |
11-Month Low | 3.25% | 4.00% |
Adjustments / Mo | 0.26 | 0.09 |
Volatility Score | 0.069 | 0.017 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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