Openbank vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | OpenbankHigh-Yield Savings Account Jan 7, 2026 | Santander BankSantander Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.20% | 0.01% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $500 | $25 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow Minimums | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Comparison Analysis
Comparing Openbank vs. Santander Bank
As of Openbank offers an APY of 4.20% for its High-Yield Savings Account, with a minimum balance of $0, compared to Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
Openbank pays $419 more than Santander Bank on a $10,000 balance after one year. Openbank pays $420, while Santander Bank pays $1 - an APY advantage for Openbank.
Why Openbank?
- ✓Higher potential APY (4.20% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.0 vs 2.9)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $1/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $3/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Santander BankSantander Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.0 (vs. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $419 more interest on a $10,000 balance than Santander Bank's Santander 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 a competitive APY of 4.20%, making it a superior choice for savers compared to Santander Bank's Savings account, which yields only 0.01% APY. Openbank's account requires a minimum deposit of $500 and has no maintenance fees or direct deposit requirements, emphasizing simplicity and better returns, especially on larger deposits. In contrast, Santander's account has a lower APY and a maintenance fee of $1, although it provides a solid mobile app experience. Both accounts are FDIC insured, but Openbank operates online only.
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
Top Market Contenders
Openbank vs. Santander Bank Savings Calculator
You earn $419 more with Openbank than Santander 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+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Openbank | Santander Bank |
|---|---|---|
| APY | 4.20% Verified: 1/7/2026 Stable (90d) | 0.01% Verified: 1/7/2026 Stable (90d) |
| Product Name | High-Yield Savings Account | Santander Savings |
| Minimum Deposit | $500 | $25 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $1 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS3.1 Android2.9 | iOS4.8 Android4.0 |
| Zelle® Support | Not Supported | Available Branch-based retail accounts only. |
| BBB Rating | Not Rated | Not Rated |
| Next Steps | Visit SiteVerify at Openbank Non-sponsored link to official site | Visit SiteVerify at Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Santander Bank |
|---|---|---|
| High-Yield Savings Account | Santander Savings | |
Current APY | 4.20% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.0 | -0.3 |
Days Since Change | 169 | 110 |
10-Month High | 4.75% | 0.03% |
10-Month Low | 4.20% | 0.01% |
Adjustments / Mo | 0.29 | 0.10 |
Volatility Score | 0.027 | 0.452 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Openbank vs...
Comparing against Standard Savings
Compare Santander Bank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.