My Banking Direct vs. Peak Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | My Banking DirectHigh Yield Savings Account Jan 7, 2026 | Peak BankEnvision High Yield Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 3.99% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$200 $10,000+$399 $25,000+$998 |
Min Deposit | $500 | $100 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow 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 4.21% APY.
Comparison Analysis
Comparing My Banking Direct vs. Peak Bank
As of My Banking Direct offers an APY of 4.02% for its High Yield Savings Account, with a minimum balance of $1, compared to Peak Bank's 3.99% APY for its Envision High Yield Savings account, with a minimum balance of .
My Banking Direct pays $3 more than Peak Bank on a $10,000 balance after one year. My Banking Direct pays $402, while Peak Bank pays $399 - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Fast transfers via Zelle®
Why Peak Bank?
- ✓Higher rated Android app (4.6 vs 4.3)
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $3 more interest on a $10,000 balance than Peak Bank's Envision High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the leading choice compared to Peak Bank's Envision High Yield Savings, which provides an APY of 3.99%. Both accounts are online-only and do not require direct deposit, with My Banking Direct requiring a minimum deposit of $500, while Peak Bank has a lower minimum deposit of $100. Both accounts have no maintenance fees and are FDIC insured, but My Banking Direct's higher APY makes it the more attractive option for savers.
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
My Banking Direct vs. Peak Bank Savings Calculator
You earn $3 more with My Banking Direct than Peak 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.
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
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 | My Banking Direct | Peak Bank |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 3.99% Verified: 1/7/2026 ↘︎ 0.21%90d Change |
| Product Name | High Yield Savings Account | Envision High Yield Savings |
| Minimum Deposit | $500 | $100 |
| Min. Balance for APY | $1 | 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 Android4.3 | iOS4.8 Android4.6 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Not Supported |
| BBB Rating | F | A+ |
| Next Steps | Visit SiteVerify at My Banking Direct 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 | My Banking Direct | Peak Bank |
|---|---|---|
| High Yield Savings Account | Envision High Yield Savings | |
Current APY | 4.02% | 3.99% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -4.0 |
Days Since Change | 53 | 6 |
11-Month High | 4.45% | 4.54% |
11-Month Low | 4.02% | 3.99% |
Adjustments / Mo | 0.46 | 0.64 |
Volatility Score | 0.034 | 0.033 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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