Openbank vs. Synchrony Bank
Openbank's High-Yield Savings Account pays 3.80% APY while Synchrony Bank's High Yield Savings pays 3.30% 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 ($380 vs $330).
Choose Openbank if getting the best rate matters most, or choose Synchrony Bank if mobile app quality matters.
| Metric | OpenbankHigh-Yield Savings Account Aug 19, 2026 | Synchrony BankHigh Yield Savings Aug 21, 2026 |
|---|---|---|
| APY | 3.80% | 3.30% |
Est. Earnings | $5,000+$190 $10,000+$380 $25,000+$950 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $500 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsStable Rate | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
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 Openbank vs. Synchrony Bank
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
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 (3.80% vs 3.30%) on all balances
- ✓No checking account or direct deposit required
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. $380 vs $330/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $950 vs $825/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 3.80% 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 $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+$380.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,380.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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 $329 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 | 3.80% Verified: 8/19/2026 - | 3.30% Verified: 8/21/2026 - |
| 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 |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA 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 | 3.80% | 3.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.8 | -4.9 |
Days Since Change | 79 | 64 |
12-Month High | 4.20% | 3.80% |
12-Month Low | 3.80% | 3.30% |
Adjustments / Mo | 0.25 | 0.33 |
Volatility Score | 0.012 | 0.027 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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