Openbank vs. Synchrony Bank
Comparing Openbank and Synchrony Bank for high-yield savings: Openbank's High-Yield Savings Account pays 4.00% APY while Synchrony Bank's High Yield Savings pays 3.50% 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 $50 more than Synchrony Bank annually ($400 vs $350).
Choose Openbank if getting the best rate matters most, or choose Synchrony Bank if mobile app quality matters.
| Metric | OpenbankHigh-Yield Savings Account Apr 7, 2026 | Synchrony BankHigh Yield Savings Apr 7, 2026 |
|---|---|---|
| APY | 4.00% | 3.50% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Openbank vs. Synchrony Bank
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive 4.00% APY, making it the clear winner compared to Synchrony Bank's High Yield Savings, which provides a lower 3.50% APY. Openbank's account has no direct deposit requirement, no maintenance fees, and allows for a minimum deposit of $500, while Synchrony Bank has a $0 minimum deposit and also does not require direct deposit. Both accounts are online-only and FDIC insured, but Openbank stands out for its higher yield.
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 (4.00% vs 3.50%) on all balances
Why Synchrony Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.5)
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $350/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $875/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.00% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.5 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $50 more interest on a $10,000 balance than Synchrony Bank's High Yield Savings.
*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. Synchrony Bank Savings Calculator
You earn $50 more with Openbank than Synchrony 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+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
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 $349 per year in interest.
Both Openbank and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Openbank | Synchrony Bank |
|---|---|---|
| APY | 4.00% Verified: 4/7/2026 ↘︎ 0.20%90d Change | 3.50% Verified: 4/7/2026 ↘︎ 0.15%90d Change |
| Product Name | High-Yield Savings Account | High Yield Savings |
| 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 | Not Rated | Not Rated |
| Next Steps | Visit SiteVerify at Openbank Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Synchrony Bank |
|---|---|---|
| High-Yield Savings Account | High Yield Savings | |
Current APY | 4.00% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.5 | -4.2 |
Days Since Change | 7 | 70 |
12-Month High | 4.40% | 4.00% |
12-Month Low | 4.00% | 3.50% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.023 | 0.043 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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