Carver Bank vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | Santander BankSantander Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 0.01% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $5,000 | $25 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android 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. Santander 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 Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
Carver Bank pays $399 more than Santander Bank on a $10,000 balance after one year. Carver Bank pays $400, while Santander Bank pays $1 - an APY advantage for Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 0.01%)
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.5 vs 4.0)
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $1/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $3/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 $399 more interest on a $10,000 balance than Santander Bank's Santander 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 High Yield Savings account with a competitive APY of 4.00%, making it a strong option for savers, especially with a minimum deposit of $5,000 and no maintenance fees if the balance requirement is met. This account is online-only and does not require direct deposit, providing simplicity for users. In contrast, Santander Bank's Savings account yields a mere 0.01% APY, significantly lower than Carver's offering, although it has a lower minimum deposit of $25 and a $1 maintenance fee. Overall, Carver Bank is the clear winner based on the provided data.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Non-sponsored link to official site
Top Market Contenders
Carver Bank vs. Santander Bank Savings Calculator
You earn $399 more with Carver Bank than Santander 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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Carver Bank | Santander Bank |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 0.01% Verified: 1/7/2026 Stable (90d) |
| Product Name | High Yield Savings | Santander Savings |
| Minimum Deposit | $5,000 | $25 |
| Min. Balance for APY | $5,000 | $0 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $1 |
| 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 Android4.0 |
| Zelle® Support | Available Full native integration in digital banking. | Available Branch-based retail accounts only. |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Carver Bank Non-sponsored link to official site | Visit SiteVerify at Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Carver Bank | Santander Bank |
|---|---|---|
| High Yield Savings | Santander Savings | |
Current APY | 4.00% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.0 | -0.2 |
Days Since Change | 309 | 110 |
11-Month High | 4.25% | 0.03% |
11-Month Low | 4.00% | 0.01% |
Adjustments / Mo | 0.09 | 0.09 |
Volatility Score | 0.017 | 0.435 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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