Openbank vs. Peak Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Openbank vs. Peak Bank
Key Metrics at a Glance
| Feature | Openbank | Peak Bank |
|---|---|---|
| Top Savings APY | 4.20% High-Yield Savings Account | 4.20% Envision High Yield Savings |
| Minimum to Open | $500 | $100 |
| Minimum Balance for Top APY | $0 |
Openbank
Strengths
- Openbank offers a competitive APY of 4.20% with no maintenance fees.
- No minimum balance requirement for Openbank's High-Yield Savings Account.
Potential Drawbacks
- Openbank has a low App Store rating of 3.2.
- Openbank is not BBB accredited and has no rating.
Peak Bank
Strengths
- Peak Bank has a high App Store rating of 4.8.
- Peak Bank is BBB rated A+, indicating strong trustworthiness.
Potential Drawbacks
- Peak Bank also offers an APY of 4.20%, but no higher rate.
- Peak Bank has a slightly lower Google Play rating of 4.6.
→ As of 11/12/2025 both Openbank (High-Yield Savings Account) and Peak Bank (Envision High Yield Savings) offer an APY of 4.20% .
→ Both banks yield $420 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
Calculate Savings Growth for Openbank vs Peak Bank
Openbank - High-Yield Savings Account
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 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, Openbank's total earnings would be the same as Peak Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Openbank's vs Peak Bank's Savings Accounts
| Openbank | Peak Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | Envision High Yield Savings |
| APY | 4.20% (as of 11/12/2025) | 4.20% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $500 | $100 | |
| Minimum Balance for APY | $0 | N/A | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 3.2/5 | 4.8/5 | |
| Google Play Rating | 3.2/5 | 4.6/5 | |
| BBB Rating | Not Rated | A+ |
Comparative Historical APY Insights (Last 9 Months)
| Openbank | Peak Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | Envision High Yield Savings |
| Latest APY | 4.20 % | 4.20 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.0 | -4.1 | |
| Rate Changes / Mo | 0.35 | 0.46 | |
| Days Since Last Change | 114 | 43 | |
| High (-9 m) | 4.75 % | 4.54 % | |
| Low (-9 m) | 4.20 % | 4.20 % | |
| Draw-down from High | -11.6 % | -7.5 % | |
| Volatility (CV) | 0.028 | 0.026 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 260 days.
- Low (-9 m)
- Lowest APY in the last 260 days.
- Draw-down from High
- How far today sits below the 9-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.