Openbank vs. Sallie Mae Bank
Comparing Openbank and Sallie Mae Bank for high-yield savings: Openbank's High-Yield Savings Account pays 4.09% APY while Sallie Mae Bank's High-Yield Savings Account pays 3.90% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $19 more than Sallie Mae Bank annually ($409 vs $390).
Choose Openbank if getting the best rate matters most, or mobile app quality matters.
| Metric | OpenbankHigh-Yield Savings Account Feb 7, 2026 | Sallie Mae BankHigh-Yield Savings Account Feb 7, 2026 |
|---|---|---|
| APY | 4.09% | 3.90% |
Est. Earnings | $5,000+$205 $10,000+$409 $25,000+$1,023 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingStable Rate |
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.
Comparison Analysis
Comparing Openbank vs. Sallie Mae Bank
Executive Summary
Openbank offers a High-Yield Savings Account with an APY of 4.09%, making it the superior option compared to Sallie Mae Bank's account, which has an APY of 3.90%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees, and it compounds interest monthly. In contrast, Sallie Mae Bank's account has no minimum deposit requirement and compounds interest daily. Both banks provide online-only services and do not require direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Openbank?
- ✓Higher potential APY (4.09% 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. $409 vs $390/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1023 vs $975/yr).
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $19 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Openbank vs. Sallie Mae Bank Savings Calculator
You earn $19 more with Openbank than Sallie Mae 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.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$409.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,409.00
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $389 per year in interest.
Both Openbank and Sallie Mae Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Openbank | Sallie Mae Bank |
|---|---|---|
| APY | 4.09% Verified: 2/7/2026 ↘︎ 0.11%90d Change | 3.90% Verified: 2/7/2026 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 |
| Compound Frequency | Monthly | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A- | A+ |
| Next Steps | Visit SiteVerify at Openbank Non-sponsored link to official site | Visit SiteVerify at Sallie Mae Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Sallie Mae Bank |
|---|---|---|
| High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.09% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.7 | 0.0 |
Days Since Change | 2 | 346 |
11-Month High | 4.75% | 3.90% |
11-Month Low | 4.09% | 3.90% |
Adjustments / Mo | 0.35 | 0.00 |
Volatility Score | 0.026 | 0.000 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Openbank's APY of 4.09% with other banks
Compare Sallie Mae Bank's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Sallie Mae Bank vs Ally Bank | 3.30% | $0 |
| Sallie Mae Bank vs American Express | 3.30% | $0 |
| Sallie Mae Bank vs Axos Bank | 4.21% | $0 |
| Sallie Mae Bank vs Bank of America | 0.01% | $100 |
| Sallie Mae Bank vs Barclays | 4.00% | $0 |
| Sallie Mae Bank vs Capital One | 3.30% | $0 |
| Sallie Mae Bank vs Chase Bank | 0.01% | $0 |
| Sallie Mae Bank vs Chime | 3.00% | $0 |
| Sallie Mae Bank vs CIT Bank | 3.75% | $100 |
| Sallie Mae Bank vs Citibank | 3.20% | $0 |
| Sallie Mae Bank vs Discover Bank | 3.30% | $0 |
| Sallie Mae Bank vs EverBank | 3.90% | $0 |
| Sallie Mae Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Sallie Mae Bank vs Newtek Bank | 4.20% | $0.01 |
| Sallie Mae Bank vs Pibank | 4.60% | $0 |
| Sallie Mae Bank vs SoFi Bank | 4.00% | $0 |
| Sallie Mae Bank vs Synchrony Bank | 3.50% | $0 |
| Sallie Mae Bank vs Varo Bank | 5.00% | $0 |
| Sallie Mae Bank vs Wealthfront | 3.95% | $0 |
| Sallie Mae Bank vs Wells Fargo | 0.05% | $25 |