Elevault vs. Openbank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
We earn a commission if you open an account through some links on this page.
Summary of Elevault vs. Openbank
Key Metrics at a Glance
| Feature | Elevault | Openbank |
|---|---|---|
| Top Savings APY | 4.08% High Yield Savings Account | 4.20% High-Yield Savings Account |
| Minimum to Open | $0 | $500 |
| Minimum Balance for Top APY | $0 | $0 |
| Note | The 4.08% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
Elevault
Strengths
- Elevault offers a competitive APY of 4.08%, although it decreased from 4.34% in the last 30 days.
- Elevault has a higher BBB rating of A+, indicating better trustworthiness.
- No minimum deposit is required to open an account at Elevault.
Potential Drawbacks
- Elevault's APY applies only to balances up to $250,000; higher balances earn no interest.
- Elevault has no physical branches, which may limit in-person service options.
- Elevault's App Store rating is 3.7, which is higher than Openbank's but still moderate.
Openbank
Strengths
- Openbank's APY is slightly higher at 4.20%, remaining stable over the last 30 days.
- Openbank has no maintenance fees, making it cost-effective for account holders.
- Openbank allows account opening with a minimum deposit of $500.
Potential Drawbacks
- Openbank lacks a BBB rating, which may raise concerns about its trustworthiness.
- Openbank's App Store and Google Play ratings are both low at 3.2.
- Openbank has no physical branches, limiting in-person banking options.
→ As of November 12, 2025 Elevault offers an APY of 4.08% for its High Yield Savings Account, with a minimum balance of $0, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
→ Openbank yields $12 more than Elevault on a $10,000 balance after one year. Elevault pays $408, while Openbank pays $420 - an APY advantage for Openbank.
Calculate Savings Growth for Elevault vs Openbank
Elevault - High Yield Savings Account
Total savings breakdown:
- Interest earned: $2,486.4 (12.14%)
- Total contributions: $13,000 (63.46%)
- Initial deposit: $5,000 (24.41%)
Your total balance
$20,486.40
Total balance: $20,486.4
Earnings: $2,486.4
Bank OverviewOpenbank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Total balance: $20,564.3
Earnings: $2,564.3
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Elevault's total earnings would be $77.9 lower than Openbank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Elevault's vs Openbank's Savings Accounts
| Elevault | Openbank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | High-Yield Savings Account |
| APY | 4.08% (as of 11/12/2025) | 4.20% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Monthly | |
| Minimum Deposit | $0 | $500 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Note | The 4.08% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | ||
| App Store Rating | 3.7/5 | 3.2/5 | |
| Google Play Rating | 4.0/5 | 3.2/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 3 Months)
| Elevault | Openbank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | High-Yield Savings Account |
| Latest APY | 4.08 % | 4.20 % | |
| Trend | Falling | Sideways | |
| Slope (bps/mo) | -15.7 | -0.0 | |
| Rate Changes / Mo | 0.61 | 0.00 | |
| Days Since Last Change | 9 | 99 | |
| High (-3 m) | 4.60 % | 4.20 % | |
| Low (-3 m) | 4.08 % | 4.20 % | |
| Draw-down from High | -11.3 % | 0.0 % | |
| Volatility (CV) | 0.040 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-3 m)
- Highest APY in the last 99 days.
- Low (-3 m)
- Lowest APY in the last 99 days.
- Draw-down from High
- How far today sits below the 3-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.