Openbank vs. Peak Bank
Comparing Openbank and Peak Bank for high-yield savings: Openbank's High-Yield Savings Account pays 4.00% APY while Peak Bank's Envision High Yield Savings pays 3.82% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Openbank pays $18 more than Peak Bank annually ($400 vs $382).
Choose Openbank if getting the best rate matters most, or choose Peak Bank if mobile app quality matters.
| Metric | OpenbankHigh-Yield Savings Account Apr 7, 2026 | Peak BankEnvision High Yield Savings Apr 7, 2026 |
|---|---|---|
| APY | 4.00% | 3.82% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$191 $10,000+$382 $25,000+$955 |
Min Deposit | $500 | $100 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Executive Summary
Openbank offers a High-Yield Savings Account with a competitive APY of 4.00%, making it the winner in this comparison. This account requires a minimum deposit of $500, has no maintenance fees, and is available online only. In contrast, Peak Bank's Envision High Yield Savings account provides a lower APY of 3.82%, with a minimum deposit requirement of $100 and also no maintenance fees. Both accounts do not require direct deposit, and while Peak Bank is noted for its superior mobile app experience, Openbank's higher yield 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.
Why Openbank?
- ✓Higher potential APY (4.00% vs 3.82%) on all balances
Why Peak Bank?
- ✓Higher rated iOS app (4.8 vs 3.1)
- ✓Higher rated Android app (4.5 vs 2.5)
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $400 vs $382/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1000 vs $955/yr).
Best Mobile App Experience
Peak BankPeak Bank offers an iOS app rated 4.8 (vs. 3.1) and Android app rated 4.5 (vs. 2.5)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $18 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Openbank vs. Peak Bank Savings Calculator
You earn $18 more with Openbank 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.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
Peak Bank
Envision High Yield Savings
Savings Breakdown
- Interest Earned+$382.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,382.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $381 per year in interest.
Both Openbank and Peak Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Openbank | Peak Bank |
|---|---|---|
| APY | 4.00% Verified: 4/7/2026 ↘︎ 0.20%90d Change | 3.82% Verified: 4/7/2026 ↘︎ 0.17%90d Change |
| Product Name | High-Yield Savings Account | Envision High Yield Savings |
| Minimum Deposit | $500 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | Not Rated | A+ |
| Next Steps | Visit SiteVerify at Openbank 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 | Openbank | Peak Bank |
|---|---|---|
| High-Yield Savings Account | Envision High Yield Savings | |
Current APY | 4.00% | 3.82% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.5 | -5.1 |
Days Since Change | 7 | 6 |
12-Month High | 4.40% | 4.54% |
12-Month Low | 4.00% | 3.82% |
Adjustments / Mo | 0.33 | 0.66 |
Volatility Score | 0.023 | 0.045 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Openbank's APY of 4.00% with other banks
Compare Peak Bank's APY of 3.82% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Peak Bank vs Ally Bank | 3.20% | $0 |
| Peak Bank vs American Express | 3.20% | $0 |
| Peak Bank vs Axos Bank | 4.21% | $0 |
| Peak Bank vs Barclays | 3.85% | $0 |
| Peak Bank vs Capital One | 3.20% | $0 |
| Peak Bank vs Chime | 3.00% | $0 |
| Peak Bank vs CIT Bank | 3.75% | $100 |
| Peak Bank vs Discover Bank | 3.30% | $0 |
| Peak Bank vs EverBank | 3.90% | $0 |
| Peak Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Peak Bank vs Newtek Bank | 4.20% | $0.01 |
| Peak Bank vs Pibank | 4.60% | $0 |
| Peak Bank vs SoFi Bank | 4.00% | $0 |
| Peak Bank vs Synchrony Bank | 3.50% | $0 |
| Peak Bank vs Varo Bank | 5.00% | $0 |
| Peak Bank vs Wealthfront | 4.20% | $0 |