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 you're an Android user, or you want Zelle for quick transfers.
| Metric | EverBankPerformance Savings May 22, 2026 | OpenbankHigh-Yield Savings Account May 20, 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 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
Openbank offers a High-Yield Savings Account with an APY of 4.00%, making it the higher-yielding option compared to EverBank's Performance Savings account, which provides an APY of 3.90%. Both accounts are online-only and have no maintenance fees, but Openbank requires a minimum deposit of $500, while EverBank has no minimum deposit requirement. Additionally, both banks do not require direct deposit for their savings accounts. EverBank is noted for its superior mobile app experience, with high ratings on both iOS and Android platforms.
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 Android app (4.7 vs 3.2)
- ✓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 4.8 (vs. 4.6) and Android app rated 4.7 (vs. 3.2)
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: 5/22/2026 Stable (90d) | 4.00% Verified: 5/20/2026 ↘︎ 0.09%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) | -4.4 | -2.4 |
Days Since Change | 152 | 50 |
12-Month High | 4.30% | 4.40% |
12-Month Low | 3.90% | 4.00% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.041 | 0.021 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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