Discover Bank vs. Peak Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | Peak BankEnvision High Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.99% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$200 $10,000+$399 $25,000+$998 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android App |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Discover Bank vs. Peak Bank
As of Discover Bank offers an APY of 3.30% for its Online Savings Account, with a minimum balance of $0, compared to Peak Bank's 3.99% APY for its Envision High Yield Savings account, with a minimum balance of .
Peak Bank pays $69 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $330, while Peak Bank pays $399 - an APY advantage for Peak Bank.
Why Discover Bank?
- ✓Fast transfers via Zelle® (up to $600 a day)
Why Peak Bank?
- ✓Higher potential APY (3.99% 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. $399 vs $330/yr).
Better Returns at $25,000
Peak BankPeak Bank's Envision High Yield Savings pulls ahead with larger amounts (approx. $998 vs $825/yr).
Best for Simplicity
Peak BankPeak Bank's Envision High Yield Savings offers 3.99% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Peak Bank's Envision High Yield Savings pays $69 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Peak Bank offers a competitive Envision High Yield Savings account with an APY of 3.99%, making it the preferred choice for savers seeking higher returns. This account requires a minimum deposit of $100 and has no maintenance fees, with daily compounding. Discover Bank's Online Savings Account, while offering a lower APY of 3.30%, is currently not open to new customers and has no minimum deposit or balance requirements. Both accounts are online-only and FDIC insured, but Peak Bank stands out for its higher yield and simplicity.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. Peak Bank Savings Calculator
You earn $69 more with Peak Bank than Discover 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.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Peak Bank
Envision High Yield Savings
Savings Breakdown
- Interest Earned+$399.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,399.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Discover Bank | Peak Bank |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.99% Verified: 1/21/2026 ↘︎ 0.21%90d Change |
| Product Name | Online 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 | iOS4.9 Android4.8 | iOS4.8 Android4.6 |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Next Steps | Visit SiteVerify at Discover Bank Non-sponsored link to official site | Visit SiteVerify at Peak Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Discover Bank | Peak Bank |
|---|---|---|
| Online Savings Account | Envision High Yield Savings | |
Current APY | 3.30% | 3.99% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -4.3 |
Days Since Change | 13 | 20 |
11-Month High | 3.75% | 4.54% |
11-Month Low | 3.30% | 3.99% |
Adjustments / Mo | 0.44 | 0.62 |
Volatility Score | 0.034 | 0.037 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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