VaultRubric's sourced facts on Openbank (as of 2026-10-12): standard APY 3.8% (source), ranked #4 of 18 accounts with a numeric standard APY in our data; $0.01 minimum to earn APY; $0 monthly fee; deposits FDIC; Openbank is a division of Santander Bank, N.A. (combined coverage) up to $250,000; overall score 96.0% with 100% data coverage. This is a facts summary, not a recommendation to open an account.
Data as of · Last updated · By VaultRubric Research · How we score · Not investment advice.
VaultRubric's sourced facts on Openbank (as of 2026-10-12): standard APY 3.8% (source), ranked #4 of 18 accounts with a numeric standard APY in our data; $0.01 minimum to earn APY; $0 monthly fee; deposits FDIC; Openbank is a division of Santander Bank, N.A. (combined coverage) up to $250,000; overall score 96.0% with 100% data coverage. This is a facts summary, not a recommendation to open an account.
This page answers “Is Openbank a good savings account?” using only data/finance_seed.json and VaultRubric's scored comparison (equal weights), as of 2026-10-12. “Good” here means how Openbank compares on sourced APY, fees, minimums, FDIC insurance and regulatory record — not personalized advice. Rates change; verify on the bank’s site.
| Fact | Value | As of / source |
|---|---|---|
| Official page | savings account ↗ | verified 2026-10-12 |
| Standard APY | 3.8% | 2026-10-12 · official |
| Min balance for APY | $0.01 | 2026-10-09 |
| Monthly fee | $0 | 2026-10-09 |
| Deposit insurance | FDIC; Openbank is a division of Santander Bank, N.A. (combined coverage) (up to $250,000) | 2026-10-10 |
| Regulatory actions (5y) | 0 in the last 5 years on record | 2026-10-10 |
| VaultRubric score | 96.0% (coverage 100%) | methodology |
No CFPB enforcement actions in last 5 yrs found in CFPB database search. Santander Bank N.A. CFPB action Jul 14, 2016 (outside window) Other regulators (OCC/FDIC/state) not exhaustively checked
Highest standard APY in our numeric set as of the dates on each row: EverBank at 4.2%. Openbank is at 3.8% (#4 of 18). Full APY table: highest APY savings account.
Rates are variable. VaultRubric reports sourced facts and scores; it does not recommend opening or closing any account. Confirm APY, fees and terms on Openbank’s official page before acting.
Openbank: 3.8% standard APY as of 2026-10-12 (#4 of 18 in our data), $0.01 minimum and $0 monthly fee in our data, deposits FDIC; Openbank is a division of Santander Bank, N.A. (combined coverage) up to $250,000, VaultRubric score 96.0% (100% coverage), no regulatory actions in our 5-year record. Facts only — not a recommendation.
In our sourced data, Openbank’s standard APY is 3.8% as of 2026-10-12 (https://www.openbank.us/banking/high-yield-savings-account). Rates change; verify on the bank’s site.
FDIC; Openbank is a division of Santander Bank, N.A. (combined coverage), up to $250,000 per depositor per ownership category.
Openbank scores 96.0% across high-yield savings options we track, with 100% data coverage (APY, minimums, fees, insurance, regulatory record). See /methodology and /compare/best-high-yield-savings-accounts.