Openbank vs. Synchrony Bank
Comparing Openbank and Synchrony Bank for high-yield savings: Openbank's High-Yield Savings Account pays 4.09% 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 $59 more than Synchrony Bank annually ($409 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 Feb 21, 2026 | Synchrony BankHigh Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.09% | 3.50% |
Est. Earnings | $5,000+$205 $10,000+$409 $25,000+$1,023 | $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 |
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. Synchrony Bank
Executive Summary
Openbank's High-Yield Savings Account stands out with a competitive APY of 4.09%, making it the winner in this comparison. This account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, and it is online-only. In contrast, Synchrony Bank offers a High Yield Savings account with a lower APY of 3.50%, also with no minimum balance and fees, but it lacks the higher yield that Openbank provides. Both accounts are FDIC insured, but Openbank's offering is better for those looking for higher returns.
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 3.50%) on all balances
Why Synchrony Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.6)
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $409 vs $350/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1023 vs $875/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.09% 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. 2.6)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $59 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
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Openbank vs. Synchrony Bank Savings Calculator
You earn $59 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+$409.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,409.00
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 | 4.09% Verified: 2/21/2026 ↘︎ 0.11%90d Change | 3.50% Verified: 2/21/2026 ↘︎ 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 | A- | 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 | 4.09% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.7 | -3.9 |
Days Since Change | 16 | 25 |
12-Month High | 4.75% | 4.00% |
12-Month Low | 4.09% | 3.50% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.027 | 0.040 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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