E*TRADE from Morgan Stanley vs. Openbank
E*TRADE from Morgan Stanley's Premium Savings Account pays 3.50% APY while Openbank's High-Yield Savings Account pays 3.80% 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 $30 more than E*TRADE from Morgan Stanley annually ($380 vs $350).
Choose E*TRADE from Morgan Stanley if you want Zelle for quick transfers. Choose Openbank if getting the best rate matters most.
| Metric | E*TRADE from Morgan StanleyPremium Savings Account Sep 5, 2026 | OpenbankHigh-Yield Savings Account Sep 5, 2026 |
|---|---|---|
| APY | 3.50% | 3.80% |
Earns in a year | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$190 $10,000+$380 $25,000+$950 |
Min. Deposit | $0 | $500 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppStable Rate |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Comparison Analysis
Comparing E*TRADE from Morgan Stanley vs. Openbank
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 3.80%, making it the winner in this comparison. This account requires a minimum deposit of $50,000 but has no direct deposit requirement, maintenance fees, or caps, providing simplicity for savers. In contrast, E*TRADE from Morgan Stanley features a Premium Savings Account with a lower APY of 3.50%. While E*TRADE's account has no minimum deposit and is also online-only, Openbank's higher yield makes it the more attractive option for those looking to maximize their savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why E*TRADE from Morgan Stanley?
- Fast transfers via Zelle®
Why Openbank?
- Higher potential APY (3.80% vs 3.50%) on all balances
Key Feature Differences
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $380 vs $350/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $950 vs $875/yr).
Better for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 3.80% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $30 more interest on a $10,000 balance than E*TRADE from Morgan Stanley's Premium Savings Account.
*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
E*TRADE from Morgan Stanley vs. Openbank Savings Calculator
You earn $30 more with Openbank than E*TRADE from Morgan Stanley 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.
E*TRADE from Morgan Stanley
Premium Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$380.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,380.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $345 a year in interest.
Both E*TRADE from Morgan Stanley and Openbank advertise far more than that typical branch-bank rate.
| Feature | E*TRADE from Morgan Stanley | Openbank |
|---|---|---|
| APY | 3.50% Observed: 9/5/2026 0.25%90-day change | 3.80% Observed: 9/5/2026 Stable over 90 days |
| Product Name | Premium Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $500 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 1 (NY) | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Premium Savings and Checking. | Not Supported |
| BBB Rating | D- | Not Rated |
| Next Steps | Visit SiteVerify at E*TRADE from Morgan Stanley Non-sponsored link to official site | Visit SiteVerify at Openbank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | E*TRADE from Morgan Stanley | Openbank |
|---|---|---|
| Premium Savings Account | High-Yield Savings Account | |
Current APY | 3.50% | 3.80% |
Trend | Stable | Stable |
Speed of change | -0.07 | -0.02 |
Days Since Change | 81 | 94 |
12-Month High | 4.00% | 4.20% |
12-Month Low | 3.25% | 3.80% |
Changes per month | 0.41 | 0.25 |
Steadiness | 0.041 | 0.013 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 362-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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High Rates (With Checking Bundle)
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