Openbank vs. Valley Direct
Openbank edges out Valley Direct slightly at 4.09% vs 4.00% APY. On a $10,000 balance, the difference is just $9 per year—so other factors may matter more.
The Bottom Line
The Openbank and Valley Direct savings accounts are very similar. Choose Openbank if you want a no-strings-attached account, or you want to avoid a promo rate with a scheduled drop. Choose Valley Direct if you value in-person banking, mobile app quality matters, or you want Zelle for quick transfers.
Important Considerations
The key difference? Valley Direct's 4.00% rate includes a promotional bonus for the first 12 months, after which it reverts to the standard rate (currently 3.40%). Openbank's 4.09% rate has no scheduled drop, though all rates are subject to change.
| Metric | OpenbankHigh-Yield Savings Account Feb 21, 2026 | Valley DirectHigh-Yield Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 4.09% | 3.40% - 4.00% |
Est. Earnings | $5,000+$205 $10,000+$409 $25,000+$1,023 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $500 | $1,000 |
Snapshot view. Rates subject to change. | ||
Terms | - | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Features | FDIC InsuredLow MinimumsRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Openbank vs. Valley Direct
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.09%, requiring a minimum deposit of $500 and having no maintenance fees. This account is online-only, making it accessible for digital banking users. In comparison, Valley Direct's High-Yield Savings Account provides a slightly lower APY of 4.00%, but it requires a higher minimum deposit of $1,000 and is available to both new and existing customers, albeit at a lower rate of 3.40% for existing customers. Valley Direct is noted for its superior mobile app experience. Overall, Openbank is the winner based on the highest APY.
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?
- ✓Available to New & Existing Customers
Why Valley Direct?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.6 vs 2.6)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Best Mobile App Experience
Valley DirectValley Direct offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.6 (vs. 2.6)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $9 more interest on a $10,000 balance than Valley Direct's High-Yield Savings Account.
*This comparison accounts for Valley Direct's introductory promotional rate, yet Openbank's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
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Openbank vs. Valley Direct Savings Calculator
You earn $9 more with Openbank than Valley Direct 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
Valley Direct
High-Yield Savings Account
Promo Rate: 4.00% for 12 months, then 3.40%.
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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 $399 per year in interest.
Both Openbank and Valley Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Openbank | Valley Direct |
|---|---|---|
| APY | 4.09% Verified: 2/21/2026 ↘︎ 0.11%90d Change | 4.00% Range: 3.40% - 4.00% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | High-Yield Savings Account | High-Yield Savings Account |
| Minimum Deposit | $500 | $1,000 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | After opening online, your accounts can be serviced at one of the Valley branch locations in NJ, NY, FL and AL. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Allows Zelle directly on HYSA. |
| BBB Rating | A- | A+ |
| Important Notes | - | Promo rate for new customers. 3.40% APY applies to existing customers. |
| Next Steps | Visit SiteVerify at Openbank Non-sponsored link to official site | Visit SiteVerify at Valley Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Openbank | Valley Direct |
|---|---|---|
| High-Yield Savings Account | High-Yield Savings Account | |
Current APY | 4.09% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.7 | -2.7 |
Days Since Change | 16 | 71 |
12-Month High | 4.75% | 4.40% |
12-Month Low | 4.09% | 3.75% |
Adjustments / Mo | 0.33 | 0.67 |
Volatility Score | 0.027 | 0.034 |
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 Valley Direct's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Valley Direct vs Ally Bank | 3.20% | $0 |
| Valley Direct vs American Express | 3.30% | $0 |
| Valley Direct vs Axos Bank | 4.21% | $0 |
| Valley Direct vs Bank of America | 0.01% | $100 |
| Valley Direct vs Barclays | 3.85% | $0 |
| Valley Direct vs Capital One | 3.30% | $0 |
| Valley Direct vs Chase Bank | 0.01% | $0 |
| Valley Direct vs Chime | 3.00% | $0 |
| Valley Direct vs CIT Bank | 3.75% | $100 |
| Valley Direct vs Citibank | 3.20% | $0 |
| Valley Direct vs Discover Bank | 3.30% | $0 |
| Valley Direct vs EverBank | 3.90% | $0 |
| Valley Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Valley Direct vs Newtek Bank | 4.20% | $0.01 |
| Valley Direct vs Pibank | 4.60% | $0 |
| Valley Direct vs SoFi Bank | 4.00% | $0 |
| Valley Direct vs Synchrony Bank | 3.50% | $0 |
| Valley Direct vs Varo Bank | 5.00% | $0 |
| Valley Direct vs Wealthfront | 3.95% | $0 |
| Valley Direct vs Wells Fargo | 0.05% | $25 |