Betterment vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | BettermentCash Reserve Jan 16, 2026 | OpenbankHigh-Yield Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 3.25% | 4.20% |
Est. Earnings | $5,000+$163 $10,000+$325 $25,000+$813 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $10 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat 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.
Comparison Analysis
Comparing Betterment vs. Openbank
As of Betterment offers an APY of 3.25% for its Cash Reserve account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $95 more than Betterment on a $10,000 balance after one year. Betterment pays $325, while Openbank pays $420 - an APY advantage for Openbank.
Why Betterment?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.8)
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.25%) 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 $325/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $813/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
BettermentBetterment offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.7 (vs. 2.8)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $95 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the superior choice compared to Betterment's Cash Reserve, which yields 3.25%. Both accounts are online-only and have no maintenance fees, but Openbank requires a minimum deposit of $500, while Betterment only requires $10. Additionally, Openbank's account does not mandate direct deposit, providing flexibility for users. Overall, Openbank stands out for its higher returns and straightforward terms.
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. Openbank Savings Calculator
You earn $95 more with Openbank 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
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 | Betterment | Openbank |
|---|---|---|
| APY | 3.25% Verified: 1/16/2026 ↘︎ 0.50%90d Change | 4.20% Verified: 1/16/2026 Stable (90d) |
| Product Name | Cash Reserve | High-Yield Savings Account |
| Minimum Deposit | $10 | $500 |
| Min. Balance for APY | $0 | $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 | iOS4.8 Android4.7 | iOS3.1 Android2.8 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | Not Rated |
| Next Steps | Visit SiteVerify at Betterment Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Openbank |
|---|---|---|
| Cash Reserve | High-Yield Savings Account | |
Current APY | 3.25% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.5 | -2.9 |
Days Since Change | 34 | 178 |
11-Month High | 4.00% | 4.75% |
11-Month Low | 3.25% | 4.20% |
Adjustments / Mo | 0.28 | 0.28 |
Volatility Score | 0.075 | 0.026 |
How to read these metrics(Click to expand)
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