Openbank vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | OpenbankHigh-Yield Savings Account Jan 12, 2026 | Synchrony BankHigh Yield Savings Jan 12, 2026 |
|---|---|---|
| APY | 4.20% | 3.65% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow Minimums | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
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
As of Openbank offers an APY of 4.20% for its High-Yield Savings Account, with a minimum balance of $0, compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Openbank pays $55 more than Synchrony Bank on a $10,000 balance after one year. Openbank pays $420, while Synchrony Bank pays $365 - an APY advantage for Openbank.
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.65%) on all balances
Why Synchrony Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.8)
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $365/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $912/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
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.5 (vs. 2.8)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $55 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.
Executive Summary as of
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, significantly higher than Synchrony Bank's 3.65% APY for its High Yield Savings product. Openbank's account stands out for its simplicity, requiring no direct deposit and having no maintenance fees, while also allowing a minimum deposit of $500. In contrast, Synchrony Bank has a lower APY but features a user-friendly mobile app experience. Both banks operate online only and provide FDIC insurance, making them solid options for savers.
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
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Openbank vs. Synchrony Bank Savings Calculator
You earn $55 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+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Openbank | Synchrony Bank |
|---|---|---|
| APY | 4.20% Verified: 1/12/2026 Stable (90d) | 3.65% Verified: 1/12/2026 ↘︎ 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 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS3.1 Android2.8 | iOS4.8 Android4.5 |
| 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 | 4.20% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.9 | -3.6 |
Days Since Change | 174 | 55 |
10-Month High | 4.75% | 4.00% |
10-Month Low | 4.20% | 3.65% |
Adjustments / Mo | 0.28 | 0.19 |
Volatility Score | 0.026 | 0.033 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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