MutualOne Bank vs. Openbank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | MutualOne BankMo Premium Savings Jan 7, 2026 | OpenbankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.07% | 4.20% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$1,018 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $20,000 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredLow Minimums |
Comparison Analysis
Comparing MutualOne Bank vs. Openbank
As of MutualOne Bank offers an APY of 4.07% for its Mo Premium Savings account, with a minimum balance of $20,000, compared to Openbank's 4.20% APY for its High-Yield Savings Account, with a minimum balance of $0.
Openbank pays $13 more than MutualOne Bank on a $10,000 balance after one year. MutualOne Bank pays $407, while Openbank pays $420 - an APY advantage for Openbank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why MutualOne Bank?
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
- ✓Higher rated iOS app (4.9 vs 3.1)
- ✓Higher rated Android app (4.4 vs 2.9)
- ✓Fast transfers via Zelle®
Why Openbank?
- ✓Higher potential APY (4.20% vs 4.07%) on all balances
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $0/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $1018/yr).
Best Mobile App Experience
MutualOne BankMutualOne Bank offers an iOS app rated 4.9 (vs. 3.1) and Android app rated 4.4 (vs. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $13 more interest on a $10,000 balance than MutualOne Bank's Mo Premium Savings.
*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 an APY of 4.20%, making it the highest-yielding option compared to MutualOne Bank's Mo Premium Savings, which has an APY of 4.07%. Openbank's account requires a minimum deposit of $500 and has no maintenance fees, while MutualOne Bank's account requires a minimum deposit of $20,000. Both banks provide online-only services and do not require direct deposit. Additionally, Openbank's account is noted for better returns at various deposit levels, making it a more attractive option for savers.
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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MutualOne Bank vs. Openbank Savings Calculator
You earn $26 more with Openbank than MutualOne Bank on a $20,000 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.
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$840.00(4.0%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,840.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | MutualOne Bank | Openbank |
|---|---|---|
| APY | 4.07% Verified: 1/7/2026 Stable (90d) | 4.20% Verified: 1/7/2026 Stable (90d) |
| Product Name | Mo Premium Savings | High-Yield Savings Account |
| Minimum Deposit | $20,000 | $500 |
| Min. Balance for APY | $20,000 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.4 | iOS3.1 Android2.9 |
| Zelle® Support | Available Verified via website and app descriptions. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at MutualOne 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 | MutualOne Bank | Openbank | |
|---|---|---|---|
| Online Savings | Mo Premium Savings | High-Yield Savings Account | |
Current APY | 0.40% | 4.07% | 4.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | 0.0 |
Days Since Change | 114 | 114 | 114 |
4-Month High | 0.40% | 4.07% | 4.20% |
4-Month Low | 0.40% | 4.07% | 4.20% |
Adjustments / Mo | 0.00 | 0.00 | 0.00 |
Volatility Score | 0.000 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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