Elevault vs. Openbank
Comparing Elevault and Openbank for high-yield savings: Elevault's High Yield Savings Account pays 4.34% APY while Openbank's High-Yield Savings Account pays 4.00% APY.
Note: Elevault caps its top rate at $250,000.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Elevault pays $34 more than Openbank annually ($434 vs $400).
Choose Elevault if getting the best rate matters most. Choose Openbank if you want a no-strings-attached account.
| Metric | ElevaultHigh Yield Savings Account May 23, 2026 | OpenbankHigh-Yield Savings Account May 20, 2026 |
|---|---|---|
| APY | 4.34% | 4.00% |
Est. Earnings | $5,000+$217 $10,000+$434 $25,000+$1,085 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | - |
| Features | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppRate 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.
Executive Summary
Elevault offers a High Yield Savings Account with a competitive APY of 4.34%, making it the winner in this comparison, especially for deposits up to $250,000. This account features no minimum deposit, no maintenance fees, and compounds interest daily. In contrast, Openbank provides a High-Yield Savings Account with a slightly lower APY of 4.00%, requiring a minimum deposit of $500 and compounding interest monthly. Both accounts are online-only and do not require direct deposit, but Elevault's higher APY makes it the more lucrative option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Elevault?
- ✓Higher potential APY (4.34% vs 4.00%) on all balances
Why Openbank?
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.6 vs 3.6)
— Key Feature Differences —
Better Returns at $10,000
ElevaultElevault's High Yield Savings Account earns more on smaller deposits (approx. $434 vs $400/yr).
Better Returns at $25,000
ElevaultElevault's High Yield Savings Account pulls ahead with larger amounts (approx. $1085 vs $1000/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Elevault's High Yield Savings Account pays $34 more interest on a $10,000 balance than Openbank's High-Yield 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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Elevault vs. Openbank Savings Calculator
You earn $34 more with Elevault than Openbank 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.
Elevault
High Yield Savings Account
4.34% on first $250,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$434.00(4.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,434.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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 Elevault and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Elevault | Openbank |
|---|---|---|
| APY | 4.34% Verified: 5/23/2026 ↗︎ 0.52%90d Change | 4.00% Verified: 5/20/2026 ↘︎ 0.09%90d Change |
| Product Name | High Yield 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 | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A | Not Rated |
| Important Notes | The 4.34% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | - |
| Next Steps | Visit SiteVerify at Elevault Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Elevault | Openbank |
|---|---|---|
| High Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.34% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -7.0 | -2.3 |
Days Since Change | 14 | 50 |
9-Month High | 4.60% | 4.20% |
9-Month Low | 3.82% | 4.00% |
Adjustments / Mo | 0.42 | 0.21 |
Volatility Score | 0.070 | 0.017 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Elevault's APY of 4.34% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Elevault vs Ally Bank | 3.10% | $0 |
| Elevault vs American Express | 3.10% | $0 |
| Elevault vs Axos Bank | 4.21% | $0 |
| Elevault vs Barclays | 3.75% | $0 |
| Elevault vs Capital One | 3.10% | $0 |
| Elevault vs Chime | 3.00% | $0 |
| Elevault vs CIT Bank | 3.75% | $100 |
| Elevault vs Discover Bank | 3.30% | $0 |
| Elevault vs EverBank | 3.90% | $0 |
| Elevault vs Marcus by Goldman Sachs | 3.50% | $0 |
| Elevault vs Newtek Bank | 4.20% | $0.01 |
| Elevault vs Pibank | 4.40% | $0 |
| Elevault vs SoFi Bank | 4.00% | $0 |
| Elevault vs Synchrony Bank | 3.40% | $0 |
| Elevault vs Varo Bank | 5.00% | $0 |
| Elevault vs Wealthfront | 4.20% | $0 |