Openbank vs. Peak Bank
Peak Bank edges out Openbank slightly at 4.01% vs 4.00% APY. On a $10,000 balance, the difference is just $1 per year—so other factors may matter more.
The Bottom Line
The Openbank and Peak Bank savings accounts are very similar. Choose Peak Bank if you're an Android user.
| Metric | OpenbankHigh-Yield Savings Account Jun 2, 2026 | Peak BankEnvision High Yield Savings Jul 6, 2026 |
|---|---|---|
| APY | 4.00% | 4.01% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$200 $10,000+$401 $25,000+$1,002 |
Min Deposit | $500 | $100 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
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.
Executive Summary
Openbank offers a High-Yield Savings Account with an APY of 4.00%, while Peak Bank's Envision High Yield Savings provides a slightly lower APY of 4.01%. Both accounts are online-only, require no maintenance fees, and have no direct deposit requirement. Openbank has a minimum deposit of $500, whereas Peak Bank only requires $100. Despite the slight difference in APY, Peak Bank is noted for its superior mobile app experience, with higher ratings on both iOS and Android platforms. For users prioritizing app usability, Peak Bank may be the preferred choice.
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?
No distinct advantages found vs Peak Bank.
Why Peak Bank?
- ✓Higher rated Android app (4.5 vs 3.2)
— Key Feature Differences —
Best Mobile App Experience
Peak BankPeak Bank offers an iOS app rated 4.7 (vs. 4.6) and Android app rated 4.5 (vs. 3.2)
Shared Benefits
Over a 1-year period, Peak Bank's Envision High Yield Savings pays $1 more interest on a $10,000 balance than Openbank's High-Yield Savings Account.
*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 $1 more with Peak Bank than Openbank 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+$401.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,401.00
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 $399 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: 6/2/2026 ↘︎ 0.09%90d Change | 4.01% Verified: 7/6/2026 ↗︎ 0.19%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% | 4.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.3 | -4.9 |
Days Since Change | 63 | 1 |
12-Month High | 4.40% | 4.44% |
12-Month Low | 4.00% | 3.82% |
Adjustments / Mo | 0.33 | 0.66 |
Volatility Score | 0.020 | 0.049 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
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Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare Openbank's APY of 4.00% with other banks
Compare Peak Bank's APY of 4.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Peak Bank vs Ally Bank | 3.10% | $0 |
| Peak Bank vs American Express | 3.10% | $0 |
| Peak Bank vs Axos Bank | 4.21% | $0 |
| Peak Bank vs Barclays | 3.65% | $0 |
| Peak Bank vs Capital One | 3.00% | $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 | 3.40% | $0 |
| Peak Bank vs Newtek Bank | 4.20% | $0.01 |
| Peak Bank vs Pibank | 4.10% | $0 |
| Peak Bank vs SoFi Bank | 3.80% | $0 |
| Peak Bank vs Synchrony Bank | 3.30% | $0 |
| Peak Bank vs Varo Bank | 5.00% | $0 |
| Peak Bank vs Wealthfront | 4.20% | $0 |