Openbank vs. Sallie Mae Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Openbank
High-Yield Savings Account
4.20%APYDec 10, 2025FDIC InsuredLow MinimumsShow Fine Print & Trends Hide Details
Openbank
High-Yield Savings Account
Sallie Mae Bank
High-Yield Savings Account
3.90%APYDec 10, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
Sallie Mae Bank
High-Yield Savings Account
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.
Openbank vs. Sallie Mae Bank Savings Calculator
Openbank earns $194.1 more than Sallie Mae Bank.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,370.20(11.6%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,370.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Openbank vs. Sallie Mae Bank
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.90%) on all balances
Why Sallie Mae Bank?
No distinct advantages found vs Openbank.
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $390/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $975/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 $30 more interest on a $10,000 balance than Sallie Mae Bank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the standout option compared to Sallie Mae Bank's account, which has an APY of 3.90%. Openbank's account does not require direct deposit and has no maintenance fees, with a minimum deposit of $500. In contrast, Sallie Mae Bank's account has a $0 minimum deposit and also does not require direct deposit, but its lower APY may be less attractive for savers. Both accounts are online-only and provide FDIC insurance.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Openbank and Sallie Mae Bank.
| Feature | Openbank | Sallie Mae Bank |
|---|---|---|
| APY | 4.20% Verified: 12/10/2025 Stable (90d) | 3.90% Verified: 12/10/2025 Stable (90d) |
| Product Name | High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $0 | $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 | iOS3.1 Android3.1 | iOS1.5 Android1.6 |
| BBB Rating | Not Rated | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Sallie Mae Bank |
|---|---|---|
| High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.20% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.4 | 0.0 |
Days Since Change | 141 | 287 |
9-Month High | 4.75% | 3.90% |
9-Month Low | 4.20% | 3.90% |
Adjustments / Mo | 0.31 | 0.00 |
Volatility Score | 0.027 | 0.000 |
How to read these metrics(Click to expand)
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