Discover Bank vs. Peak Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Discover Bank vs. Peak Bank
Key Metrics at a Glance
| Feature | Discover Bank | Peak Bank |
|---|---|---|
| Top Savings APY | 3.40% Online Savings Account | 4.20% Envision High Yield Savings |
| Minimum to Open | $0 | $100 |
| Minimum Balance for Top APY | $0 |
Discover Bank
Strengths
- Discover Bank offers a competitive APY of 3.40%.
- Discover Bank has an excellent BBB rating of A+ and is BBB Accredited.
- Discover Bank has a high App Store rating of 4.9.
Potential Drawbacks
- Discover Bank's APY decreased from 3.50% to 3.40% in the last 30 days.
- Discover Bank has no physical branches.
Peak Bank
Strengths
- Peak Bank offers a higher APY of 4.20%.
- Peak Bank has a strong Google Play rating of 4.7.
- Peak Bank has no maintenance fees.
Potential Drawbacks
- Peak Bank's APY decreased from 4.35% to 4.20% in the last 30 days.
- Peak Bank is not BBB Accredited despite having a BBB rating of A+.
→ As of October 21, 2025 Discover Bank offers an APY of 3.40% for its Online Savings Account, with a minimum balance of $0, compared to Peak Bank's 4.20% APY for its Envision High Yield Savings account, with a minimum balance of .
→ Peak Bank yields $80 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $340, while Peak Bank pays $420 - an APY advantage for Peak Bank.
Calculate Savings Growth for Discover Bank vs Peak Bank
Discover Bank - Online Savings Account
Total savings breakdown:
- Interest earned: $2,050.5 (10.23%)
- Total contributions: $13,000 (64.84%)
- Initial deposit: $5,000 (24.94%)
Your total balance
$20,050.50
Total balance: $20,050.5
Earnings: $2,050.5
Bank OverviewPeak Bank - Envision High Yield Savings
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Total balance: $20,564.3
Earnings: $2,564.3
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Discover Bank's total earnings would be $513.8 lower than Peak Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Discover Bank's vs Peak Bank's Savings Accounts
| Discover Bank | Peak Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Envision High Yield Savings |
| APY | 3.40% (as of 10/21/2025) | 4.20% (as of 10/21/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $100 | |
| Minimum Balance for APY | $0 | N/A | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.7/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 8 Months)
| Discover Bank | Peak Bank | ||
|---|---|---|---|
| Product | Online Savings Account | vs | Envision High Yield Savings |
| Latest APY | 3.40 % | 4.20 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.0 | -3.2 | |
| Rate Changes / Mo | 0.48 | 0.48 | |
| Days Since Last Change | 21 | 20 | |
| High (-8 m) | 3.75 % | 4.54 % | |
| Low (-8 m) | 3.40 % | 4.20 % | |
| Draw-down from High | -9.3 % | -7.5 % | |
| Volatility (CV) | 0.028 | 0.022 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-8 m)
- Highest APY in the last 249 days.
- Low (-8 m)
- Lowest APY in the last 249 days.
- Draw-down from High
- How far today sits below the 8-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.