Ivy Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ivy BankHigh-Yield Savings Account Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 0.05% - 4.10% | 4.20% |
Est. Earnings | $5,000+$205 $10,000+$410 $25,000+$1,025 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $2,500 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS App | FDIC InsuredLow Minimums |
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.
As of Ivy Bank offers an APY of 4.10% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $10 more than Ivy Bank on a $10,000 balance after one year. Ivy Bank pays $410, while Openbank pays $420 - an APY advantage for Openbank.
Why Ivy Bank?
- ✓Higher rated iOS app (4.7 vs 3.1)
Why Openbank?
- ✓Higher potential APY (4.20% vs 4.10%) on all balances
- ✓No checking account or direct deposit required
- ✓Available Nationwide
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $410/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $1025/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $10 more interest on a $10,000 balance than Ivy Bank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the winner in this comparison. This account requires a minimum deposit of $500 and has no maintenance fees or minimum balance requirements. In contrast, Ivy Bank's High-Yield Savings Account provides a slightly lower APY of 4.10% and requires a minimum deposit and balance of $2,500. Both accounts are online-only and do not require direct deposit. However, Ivy Bank's eligibility is restricted to residents of California and certain U.S. Territories, which may limit access for some potential customers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Ivy Bank vs. Openbank Savings Calculator
You earn $10 more with Openbank than Ivy Bank 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.
Ivy Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$410.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,410.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ivy Bank | Openbank |
|---|---|---|
| APY | 4.10% Range: 0.05% - 4.10% Verified: 1/7/2026 - | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $2,500 | $500 |
| Min. Balance for APY | $2,500 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android3.5 | iOS3.1 Android2.9 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | Not Rated |
| Next Steps | Visit SiteVerify at Ivy Bank Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ivy Bank | Openbank |
|---|---|---|
| High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.10% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -11.9 | -0.0 |
Days Since Change | 22 | 54 |
2-Month High | 4.25% | 4.20% |
2-Month Low | 4.10% | 4.20% |
Adjustments / Mo | 0.55 | 0.00 |
Volatility Score | 0.018 | 0.000 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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