Ivy Bank vs. Openbank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Ivy Bank vs. Openbank
Key Metrics at a Glance
| Feature | Ivy Bank | Openbank |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 4.20% High-Yield Savings Account |
| Minimum to Open | $2,500 | $500 |
| Minimum Balance for Top APY | $2,500 | $0 |
Ivy Bank
Strengths
- Ivy Bank offers a higher APY of 4.25% compared to Openbank's 4.20%.
- Ivy Bank has a better BBB rating of A-.
- Ivy Bank has no minimum balance requirement for its high-yield savings account.
Potential Drawbacks
- Ivy Bank has no branches available.
- Ivy Bank's App Store rating is 4.7, but its Google Play rating is only 3.5.
Openbank
Strengths
- Openbank requires a lower minimum deposit of $500 for its high-yield savings account.
- Openbank has no minimum balance requirement for its high-yield savings account.
- Openbank's APY has remained stable at 4.20% over the past 30 days.
Potential Drawbacks
- Openbank is not rated by the BBB.
- Openbank has lower App Store and Google Play ratings of 3.2.
→ As of November 12, 2025 Ivy Bank offers an APY of 4.25% 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.
→ Ivy Bank yields $5 more than Openbank on a $10,000 balance after one year. Ivy Bank pays $425, while Openbank pays $420 - an APY advantage for Ivy Bank.
Calculate Savings Growth for Ivy Bank vs Openbank
Ivy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
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, Ivy Bank's total earnings would be $32.5 higher than Openbank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Openbank's Savings Accounts
| Ivy Bank | Openbank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | High-Yield Savings Account |
| APY | 0.05% - 4.25% (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 | $2,500 | $500 | |
| Minimum Balance for APY | $2,500 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Eligibility | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | United States | |
| App Store Rating | 4.7/5 | 3.2/5 | |
| Google Play Rating | 3.5/5 | 3.2/5 | |
| BBB Rating | A- | Not Rated |
No historical data available.