Ivy Bank vs. Santander Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Ivy Bank vs. Santander Bank
Key Metrics at a Glance
| Feature | Ivy Bank | Santander Bank |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 0.01% Santander Savings |
| Minimum to Open | $2,500 | $25 |
| Minimum Balance for Top APY | $2,500 | $0 |
Ivy Bank
Strengths
- Ivy Bank offers a high APY of 4.25%, significantly higher than Santander Bank.
- Ivy Bank has no maintenance fees for its High-Yield Savings Account.
- Ivy Bank has a strong App Store rating of 4.7.
Potential Drawbacks
- Ivy Bank has no physical branches, limiting in-person banking options.
- Ivy Bank requires a minimum deposit of $2,500 to open a High-Yield Savings Account.
- Ivy Bank's Google Play rating is lower at 3.5.
Santander Bank
Strengths
- Santander Bank has physical branches, providing in-person banking services.
- Santander Bank has a higher Google Play rating of 4.1.
- Santander Bank requires a low minimum deposit of $25 to open a savings account.
Potential Drawbacks
- Santander Bank offers a low APY of 0.01%, much lower than Ivy Bank.
- Santander Bank charges a $1 maintenance fee for its savings account.
- Santander Bank is not rated by the BBB.
→ 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 Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
→ Ivy Bank yields $424 more than Santander Bank on a $10,000 balance after one year. Ivy Bank pays $425, while Santander Bank pays $1 - an APY advantage for Ivy Bank.
Calculate Savings Growth for Ivy Bank vs Santander Bank
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 OverviewSantander Bank - Santander Savings
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ivy Bank's total earnings would be $2,591.1 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Santander Bank's Savings Accounts
| Ivy Bank | Santander Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | Santander Savings |
| APY | 0.05% - 4.25% (as of 11/12/2025) | 0.01% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $2,500 | $25 | |
| Minimum Balance for APY | $2,500 | $0 | |
| Maintenance Fee | $0 | $1 | |
| 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 | 4.8/5 | |
| Google Play Rating | 3.5/5 | 4.1/5 | |
| BBB Rating | A- | Not Rated |
No historical data available.