Savings Account Review

Openbank Review (2026)

A strong APY backed by Santander

By Wealthy Pot · Last updated September 2026

TypeOnline bank

APY3.80% APY (variable; may vary by ZIP)

Minimum to open$500

Min balance for top APY$0

Monthly fee$0

FDICFDIC-insured (Santander Bank, N.A.)

Visit Openbank ↗

Who Openbank is for

Rate-chasers who want a strong APY from a big global bank

APY, minimums & fees

Openbank advertises 3.80% APY (variable; may vary by ZIP), with a $500 minimum to open and a $0 monthly fee. Minimum balance to earn the top rate: $0. FDIC-insured (Santander Bank, N.A.). APYs are variable — confirm the current rate on the official site.

The bottom line

A strong APY backed by Santander Main drawback: newer us platform; a $500 minimum to open; rate can vary by zip.

Visit Openbank ↗Compare all savings accounts →

See how Openbank stacks up in our high-yield savings comparison, or find a banking app in our neobanks comparison.

We summarize hands-on assessment, not user reviews. APYs are variable and re-checked against Openbank's official page. Some accounts are brokerage cash insured through partner banks rather than traditional bank savings. Some outbound links may be affiliate links — that never affects which accounts we include or how we rate them. Nothing here is financial advice.