E*TRADE from Morgan Stanley vs. Openbank
Comparing E*TRADE from Morgan Stanley and Openbank for high-yield savings: E*TRADE from Morgan Stanley's Premium Savings Account pays 3.35% APY while Openbank's High-Yield Savings Account pays 4.09% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $74 more than E*TRADE from Morgan Stanley annually ($409 vs $335).
Choose E*TRADE from Morgan Stanley if mobile app quality matters, or you want Zelle for quick transfers. Choose Openbank if getting the best rate matters most.
| Metric | E*TRADE from Morgan StanleyPremium Savings Account Mar 24, 2026 | OpenbankHigh-Yield Savings Account Mar 24, 2026 |
|---|---|---|
| APY | 3.35% | 4.09% |
Est. Earnings | $5,000+$168 $10,000+$335 $25,000+$838 | $5,000+$205 $10,000+$409 $25,000+$1,023 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | 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 E*TRADE from Morgan Stanley vs. Openbank
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.09%, making it the clear winner over E*TRADE from Morgan Stanley's Premium Savings Account, which has an APY of 3.35%. Openbank's account is designed for simplicity, with no direct deposit requirement and no maintenance fees, although it does require a minimum deposit of $500. E*TRADE's account, while offering a solid mobile app experience, is online-only and has no minimum deposit or balance requirements. Both accounts are FDIC insured and provide daily and monthly compounding, respectively.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why E*TRADE from Morgan Stanley?
- ✓Higher rated iOS app (4.7 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.5)
- ✓Fast transfers via Zelle®
Why Openbank?
- ✓Higher potential APY (4.09% vs 3.35%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $409 vs $335/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1023 vs $838/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.09% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley offers an iOS app rated 4.7 (vs. 3.1) and Android app rated 4.7 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $74 more interest on a $10,000 balance than E*TRADE from Morgan Stanley's Premium Savings Account.
*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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E*TRADE from Morgan Stanley vs. Openbank Savings Calculator
You earn $74 more with Openbank than E*TRADE from Morgan Stanley 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.
E*TRADE from Morgan Stanley
Premium Savings Account
Savings Breakdown
- Interest Earned+$335.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,335.00
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 $334 per year in interest.
Both E*TRADE from Morgan Stanley and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | E*TRADE from Morgan Stanley | Openbank |
|---|---|---|
| APY | 3.35% Verified: 3/24/2026 ↘︎ 0.15%90d Change | 4.09% Verified: 3/24/2026 ↘︎ 0.11%90d Change |
| Product Name | Premium Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0+ | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Premium Savings and Checking. | Not Supported |
| BBB Rating | D- | Not Rated |
| Next Steps | Visit SiteVerify at E*TRADE from Morgan Stanley Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | E*TRADE from Morgan Stanley | Openbank |
|---|---|---|
| Premium Savings Account | High-Yield Savings Account | |
Current APY | 3.35% | 4.09% |
Trend | Stable | Stable |
Velocity (bps/mo) | -6.5 | -2.4 |
Days Since Change | 49 | 47 |
12-Month High | 4.00% | 4.40% |
12-Month Low | 3.35% | 4.09% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.067 | 0.022 |
How to read these metrics(Click to expand)
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