Peak Bank vs. SoFi Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Peak Bank
Envision High Yield Savings
4.20%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Peak Bank
Envision High Yield Savings
SoFi Bank
SoFi Savings
Up to4.30%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 3.60% – 4.30%Show Fine Print & Trends Hide Details
SoFi Bank
SoFi Savings
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.
Comparison Analysis
Comparing Peak Bank vs. SoFi Bank
Why Peak Bank?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.0)
Why SoFi Bank?
- ✓Earn a $50 bonus with $1,000+ in direct deposits, or $300 with $5,000+.
- ✓Earn 0.50% APY on checking account with access to 55,000+ fee free ATMs
— Key Feature Differences —
Better Returns at $10,000
SoFi BankSoFi Bank's SoFi Savings earns more on smaller deposits (approx. $430 vs $420/yr).
Best for Simplicity
Peak BankPeak Bank's Envision High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
SoFi BankSoFi Bank's SoFi Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, SoFi Bank's SoFi Savings pays $10 more interest on a $10,000 balance than Peak Bank's Envision High Yield Savings.
Executive Summary
SoFi Bank's SoFi Savings leads with a 4.30% APY, which includes a temporary 0.70% boost for six months, available with a direct deposit of regular income or a $10/month subscription fee. This account comes bundled with a checking account offering a 0.50% APY. In comparison, Peak Bank's Envision High Yield Savings offers a solid 4.20% APY with no direct deposit requirement or maintenance fees, making it a straightforward option for savers. Both accounts are online-only and have no minimum deposit requirements, but SoFi's offer is slightly more attractive for those willing to meet the conditions.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Peak Bank and SoFi Bank.
| Feature | Peak Bank | SoFi Bank |
|---|---|---|
| APY | 4.20% Verified: 12/6/2025 ↘︎ 0.15%90d Change | 4.30% Range: 3.60% - 4.30% Verified: 12/6/2025 ↗︎ 0.50%90d Change |
| Product Name | Envision High Yield Savings | SoFi Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.0 |
| BBB Rating | A+ | A+ |
| Important Notes | - | Limited offer: The 4.30% includes a temporary 0.70% APY boost for 6 months. It is available with a direct deposit of regular income, or a $10/month subscription. See terms at SoFi Bank. The savings account comes bundled with a checking account with a 0.50% APY. |
| Next Steps |
Savings Comparison
SoFi Bank earns $65.1 more than Peak Bank.
Peak Bank
Envision High Yield Savings
Savings Breakdown
- Interest Earned+$2,564.30(12.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,564.30
SoFi Bank
SoFi Savings
Savings Breakdown
- Interest Earned+$2,629.40(12.7%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,629.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Peak Bank | SoFi Bank |
|---|---|---|
| Envision High Yield Savings | SoFi Savings | |
Current APY | 4.20% | 4.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.7 | 8.1 |
Days Since Change | 66 | 24 |
10-Month High | 4.54% | 4.50% |
10-Month Low | 4.20% | 3.80% |
Adjustments / Mo | 0.41 | 0.20 |
Volatility Score | 0.028 | 0.076 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Peak Bank vs...
Comparing against Standard Savings
Compare SoFi Bank vs...
Comparing against other Bundled Accounts