Carver Bank vs. Charles Schwab Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | Charles Schwab BankSchwab Bank Investor Savings™ Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 0.15% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$8 $10,000+$15 $25,000+$38 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessZelle® 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 Carver Bank vs. Charles Schwab Bank
As of Carver Bank offers an APY of 4.00% for its High Yield Savings account, with a minimum balance of $5,000, compared to Charles Schwab Bank's 0.15% APY for its Schwab Bank Investor Savings™ account, with a minimum balance of $0.01.
Carver Bank pays $385 more than Charles Schwab Bank on a $10,000 balance after one year. Carver Bank pays $400, while Charles Schwab Bank pays $15 - an APY advantage for Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 0.15%)
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 2.8)
Why Charles Schwab Bank?
No distinct advantages found vs Carver Bank.
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $15/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $38/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 $385 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Carver Bank offers a competitive High Yield Savings account with a notable APY of 4.00%, making it an attractive option for savers, especially those with a minimum deposit of $5,000. This account has no direct deposit requirement and incurs no maintenance fees as long as the minimum balance is maintained. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ provides a much lower APY of 0.15%, but it has a lower minimum deposit requirement of just $0.01. Overall, Carver Bank stands out as the winner due to its significantly higher yield.
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
Carver Bank vs. Charles Schwab Bank Savings Calculator
You earn $385 more with Carver Bank than Charles Schwab Bank 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.
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
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Carver Bank | Charles Schwab Bank |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 0.15% Verified: 1/7/2026 Stable (90d) |
| Product Name | High Yield Savings | Schwab Bank Investor Savings™ |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.5 | iOS4.8 Android2.8 |
| Zelle® Support | Available Full native integration in digital banking. | Available Integrated into Investor Checking; high liquidity. |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Carver Bank Non-sponsored link to official site | Visit SiteVerify at Charles Schwab Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | Charles Schwab Bank |
|---|---|---|
| High Yield Savings | Schwab Bank Investor Savings™ | |
Current APY | 4.00% | 0.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.0 | -0.0 |
Days Since Change | 309 | 341 |
11-Month High | 4.25% | 0.15% |
11-Month Low | 4.00% | 0.15% |
Adjustments / Mo | 0.09 | 0.00 |
Volatility Score | 0.017 | 0.000 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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