EverBank vs. Openbank
Comparing EverBank and Openbank for high-yield savings: EverBank's Performance Savings pays 3.90% APY while Openbank's High-Yield Savings Account pays 4.00% 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 $10 more than EverBank annually ($400 vs $390).
Choose EverBank if mobile app quality matters, or you want Zelle for quick transfers.
| Metric | EverBankPerformance Savings Apr 7, 2026 | OpenbankHigh-Yield Savings Account Apr 7, 2026 |
|---|---|---|
| APY | 3.90% | 4.00% |
Est. Earnings | $5,000+$195 $10,000+$390 $25,000+$975 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
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 |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.00%, making it the winner in this comparison. In contrast, EverBank's Performance Savings account provides an APY of 3.90%. Both accounts require no maintenance fees, and neither mandates direct deposit. However, Openbank requires a minimum deposit of $500 to open the account, while EverBank has no minimum deposit requirement. Both banks operate online only and provide FDIC insurance, ensuring a secure savings option.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why EverBank?
- ✓Physical branch access (11 locations in Florida and California)
- ✓Higher rated iOS app (4.7 vs 3.1)
- ✓Higher rated Android app (4.7 vs 2.5)
- ✓Fast transfers via Zelle®
Why Openbank?
No distinct advantages found vs EverBank.
— Key Feature Differences —
Best Mobile App Experience
EverBankEverBank 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 $10 more interest on a $10,000 balance than EverBank's Performance Savings.
*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
Top Market Contenders
EverBank vs. Openbank Savings Calculator
You earn $10 more with Openbank than EverBank 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.
EverBank
Performance Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 $389 per year in interest.
Both EverBank and Openbank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | EverBank | Openbank |
|---|---|---|
| APY | 3.90% Verified: 4/7/2026 Stable (90d) | 4.00% Verified: 4/7/2026 ↘︎ 0.20%90d Change |
| Product Name | Performance Savings | 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 | 11 locations in Florida and California | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Native integration verified. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at EverBank Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | EverBank | Openbank |
|---|---|---|
| Performance Savings | High-Yield Savings Account | |
Current APY | 3.90% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.6 | -2.5 |
Days Since Change | 109 | 7 |
12-Month High | 4.30% | 4.40% |
12-Month Low | 3.90% | 4.00% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.042 | 0.023 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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