Betterment vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
Betterment
Cash Reserve
3.50%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Betterment
Cash Reserve
Openbank
High-Yield Savings Account
4.20%APYDec 10, 2025FDIC InsuredLow MinimumsShow Fine Print & Trends Hide Details
Openbank
High-Yield Savings Account
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.
Betterment vs. Openbank Savings Calculator
Openbank earns $450.2 more than Betterment.
Betterment
Cash Reserve
Savings Breakdown
- Interest Earned+$2,114.10(10.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,114.10
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Betterment vs. Openbank
Why Betterment?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.7 vs 3.1)
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.50%) 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 $350/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $875/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. 3.1)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $70 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
Openbank offers a competitive High-Yield Savings Account with an APY of 4.20%, making it the clear winner in this comparison. This account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, and it compounds monthly. In contrast, Betterment's Cash Reserve provides a lower APY of 3.50% with a minimum deposit of $10 and no maintenance fees. Both banks operate online only and offer FDIC insurance, but Openbank's higher yield positions it as the better option for savers.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Betterment and Openbank.
| Feature | Betterment | Openbank |
|---|---|---|
| APY | 3.50% Verified: 12/10/2025 ↘︎ 0.50%90d Change | 4.20% Verified: 12/10/2025 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 Android3.1 |
| BBB Rating | A- | Not Rated |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Betterment | Openbank |
|---|---|---|
| Cash Reserve | High-Yield Savings Account | |
Current APY | 3.50% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.4 | -3.4 |
Days Since Change | 39 | 141 |
9-Month High | 4.00% | 4.75% |
9-Month Low | 3.50% | 4.20% |
Adjustments / Mo | 0.21 | 0.31 |
Volatility Score | 0.051 | 0.027 |
How to read these metrics(Click to expand)
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