Charles Schwab Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Openbank
High-Yield Savings Account
4.20%APYDec 10, 2025FDIC InsuredLow MinimumsShow Fine Print & Trends Hide Details
Openbank
High-Yield Savings Account
Charles Schwab Bank vs. Openbank Savings Calculator
Openbank earns $2,478.2 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
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 Charles Schwab Bank vs. Openbank
Why Charles Schwab Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
Why Openbank?
- ✓Higher potential APY (4.20% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $15/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $38/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $405 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, significantly higher than Charles Schwab Bank's Schwab Bank Investor Savings™, which has an APY of 0.15%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees and does not require direct deposit, making it an attractive option for those seeking simplicity. In contrast, Charles Schwab's account has a $0 minimum deposit and also charges no maintenance fees, but the yield is much lower. Overall, Openbank is the clear winner based on APY.
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 Charles Schwab Bank and Openbank.
| Feature | Charles Schwab Bank | Openbank |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 4.20% Verified: 12/10/2025 Stable (90d) |
| Product Name | Schwab Bank Investor Savings™ | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS3.1 Android3.1 |
| BBB Rating | A+ | Not Rated |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Openbank |
|---|---|---|
| Schwab Bank Investor Savings™ | High-Yield Savings Account | |
Current APY | 0.15% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.4 |
Days Since Change | 287 | 141 |
9-Month High | 0.15% | 4.75% |
9-Month Low | 0.15% | 4.20% |
Adjustments / Mo | 0.00 | 0.31 |
Volatility Score | 0.000 | 0.027 |
How to read these metrics(Click to expand)
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