Ally Bank vs. Peak Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
Peak Bank
Envision High Yield Savings
4.20%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Peak Bank
Envision High Yield Savings
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Ally Bank vs. Peak Bank
Why Ally Bank?
No distinct advantages found vs Peak Bank.
Why Peak Bank?
- ✓Higher potential APY (4.20% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Peak BankPeak Bank's Envision High Yield Savings earns more on smaller deposits (approx. $420 vs $330/yr).
Better Returns at $25,000
Peak BankPeak Bank's Envision High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $825/yr).
Best for Simplicity
Peak BankPeak Bank's Envision High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Peak BankPeak Bank offers an iOS app rated 4.8 (vs. 4.7) and Android app rated 4.6 (vs. 4.4)
Shared Benefits
Over a 1-year period, Peak Bank's Envision High Yield Savings pays $90 more interest on a $10,000 balance than Ally Bank's Savings Account.
Executive Summary
Peak Bank offers the Envision High Yield Savings account with a competitive APY of 4.20%, making it the winner in this comparison. This online-only account requires a minimum deposit of $100 but has no maintenance fees or direct deposit requirements, providing a straightforward savings option. In contrast, Ally Bank's Savings Account offers a lower APY of 3.30% with no minimum deposit or balance requirements, also without maintenance fees. While both accounts are online-only and FDIC insured, Peak Bank stands out for its higher yield and better returns on larger deposits.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Ally Bank and Peak Bank.
| Feature | Ally Bank | Peak Bank |
|---|---|---|
| APY | 3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change | 4.20% Verified: 12/6/2025 ↘︎ 0.15%90d Change |
| Product Name | Savings Account | Envision High Yield Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.8 Android4.6 |
| BBB Rating | A+ | A+ |
| Next Steps |
Savings Comparison
Peak Bank earns $577.2 more than Ally Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
Peak Bank
Envision High Yield Savings
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Peak Bank |
|---|---|---|
| Savings Account | Envision High Yield Savings | |
Current APY | 3.30% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.1 | -3.7 |
Days Since Change | 36 | 66 |
10-Month High | 3.70% | 4.54% |
10-Month Low | 3.30% | 4.20% |
Adjustments / Mo | 0.41 | 0.41 |
Volatility Score | 0.036 | 0.028 |
How to read these metrics(Click to expand)
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