Carver Bank vs. Sallie Mae Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | Sallie Mae BankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 3.90% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo Minimums |
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. Sallie Mae 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 Sallie Mae Bank's 3.90% APY for its High-Yield Savings Account, with a minimum balance of $0.
Carver Bank pays $10 more than Sallie Mae Bank on a $10,000 balance after one year. Carver Bank pays $400, while Sallie Mae Bank pays $390 - an APY advantage for Carver Bank.
Why Carver Bank?
- ✓Higher rated iOS app (4.7 vs 1.5)
- ✓Higher rated Android app (4.5 vs 1.6)
- ✓Fast transfers via Zelle®
Why Sallie Mae Bank?
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. 1.5) and Android app rated 4.5 (vs. 1.6)
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $10 more interest on a $10,000 balance than Sallie Mae Bank's High-Yield Savings Account.
*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 an APY of 4.00%, making it the top choice compared to Sallie Mae Bank's High-Yield Savings Account, which has an APY of 3.90%. Both accounts are online-only and have no maintenance fees, but Carver Bank requires a minimum deposit and balance of $5,000, while Sallie Mae Bank has no minimum requirements. Notably, Carver Bank is recognized for its superior mobile app experience, with high ratings on both iOS and Android platforms.
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
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Top Market Contenders
Carver Bank vs. Sallie Mae Bank Savings Calculator
You earn $10 more with Carver Bank than Sallie Mae 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
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Carver Bank | Sallie Mae Bank |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 3.90% Verified: 1/7/2026 Stable (90d) |
| Product Name | High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.5 | iOS1.5 Android1.6 |
| 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 Sallie Mae Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | Sallie Mae Bank |
|---|---|---|
| High Yield Savings | High-Yield Savings Account | |
Current APY | 4.00% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.0 | -0.0 |
Days Since Change | 309 | 341 |
11-Month High | 4.25% | 4.00% |
11-Month Low | 4.00% | 3.90% |
Adjustments / Mo | 0.09 | 0.09 |
Volatility Score | 0.017 | 0.002 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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