Carver Bank vs. Openbank
Openbank edges out Carver Bank slightly at 4.09% vs 4.00% APY. On a $10,000 balance, the difference is just $9 per year—so other factors may matter more.
The Bottom Line
The Carver Bank and Openbank savings accounts are very similar. Choose Carver Bank if mobile app quality matters, or you want Zelle for quick transfers.
| Metric | Carver BankHigh Yield Savings Feb 21, 2026 | OpenbankHigh-Yield Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 4.00% | 4.09% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$205 $10,000+$409 $25,000+$1,023 |
Min Deposit | $5,000 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingStable Rate | FDIC InsuredLow MinimumsRate Changes Often |
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 Carver Bank vs. Openbank
Executive Summary
Openbank offers a High-Yield Savings Account with an APY of 4.09%, making it the winner in this comparison. In contrast, Carver Bank's High Yield Savings provides a slightly lower APY of 4.00%. Both accounts are online-only and require no maintenance fees, with Carver Bank needing a minimum deposit of $5,000, while Openbank only requires $500. Notably, both banks do not require direct deposit for their savings accounts.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Carver Bank?
- ✓Higher rated iOS app (4.7 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.6)
- ✓Fast transfers via Zelle®
Why Openbank?
No distinct advantages found vs Carver Bank.
— Key Feature Differences —
Best Mobile App Experience
Carver BankCarver Bank offers an iOS app rated 4.7 (vs. 3.1) and Android app rated 4.5 (vs. 2.6)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $9 more interest on a $10,000 balance than Carver Bank's High Yield 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
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Carver Bank vs. Openbank Savings Calculator
You earn $9 more with Openbank than Carver 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
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$409.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,409.00
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 $399 per year in interest.
Both Carver Bank and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Carver Bank | Openbank |
|---|---|---|
| APY | 4.00% Verified: 2/21/2026 Stable (90d) | 4.09% Verified: 2/21/2026 ↘︎ 0.11%90d Change |
| Product Name | High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $5,000 | $500 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Full native integration in digital banking. | Not Supported |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Carver Bank Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | Openbank |
|---|---|---|
| High Yield Savings | High-Yield Savings Account | |
Current APY | 4.00% | 4.09% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.2 | -2.7 |
Days Since Change | 354 | 16 |
12-Month High | 4.25% | 4.75% |
12-Month Low | 4.00% | 4.09% |
Adjustments / Mo | 0.08 | 0.33 |
Volatility Score | 0.007 | 0.027 |
How to read these metrics(Click to expand)
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Comparing against Standard Savings
High Rates (With Checking Bundle)
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More Comparisons
Compare Carver Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Carver Bank vs Ally Bank | 3.20% | $0 |
| Carver Bank vs American Express | 3.30% | $0 |
| Carver Bank vs Axos Bank | 4.21% | $0 |
| Carver Bank vs Bank of America | 0.01% | $100 |
| Carver Bank vs Barclays | 3.85% | $0 |
| Carver Bank vs Capital One | 3.30% | $0 |
| Carver Bank vs Chase Bank | 0.01% | $0 |
| Carver Bank vs Chime | 3.00% | $0 |
| Carver Bank vs CIT Bank | 3.75% | $100 |
| Carver Bank vs Citibank | 3.20% | $0 |
| Carver Bank vs Discover Bank | 3.30% | $0 |
| Carver Bank vs EverBank | 3.90% | $0 |
| Carver Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Carver Bank vs Newtek Bank | 4.20% | $0.01 |
| Carver Bank vs Pibank | 4.60% | $0 |
| Carver Bank vs SoFi Bank | 4.00% | $0 |
| Carver Bank vs Synchrony Bank | 3.50% | $0 |
| Carver Bank vs Varo Bank | 5.00% | $0 |
| Carver Bank vs Wealthfront | 3.95% | $0 |
| Carver Bank vs Wells Fargo | 0.05% | $25 |