Peak Bank vs. Synchrony Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Peak Bank vs. Synchrony Bank
Key Metrics at a Glance
Feature | Peak Bank | Synchrony Bank |
---|---|---|
Top Savings APY | 4.20% Envision High Yield Savings | 3.80% High Yield Savings |
Minimum to Open | $100 | $0 |
Minimum Balance for Top APY | $0 |
Peak Bank
Strengths
- Peak Bank offers a higher APY of 4.20% compared to Synchrony Bank's 3.80%.
- Peak Bank has an A+ BBB rating, indicating strong trustworthiness.
- Peak Bank has no maintenance fees for its savings account.
Potential Drawbacks
- Peak Bank's APY decreased from 4.35% over the last 30 days.
- Peak Bank has no physical branches for in-person banking.
- Peak Bank is not BBB Accredited.
Synchrony Bank
Strengths
- Synchrony Bank requires no minimum deposit or balance for its savings account.
- Synchrony Bank has a solid App Store rating of 4.8.
- Synchrony Bank has no maintenance fees for its savings account.
Potential Drawbacks
- Synchrony Bank's APY is lower at 3.80% compared to Peak Bank.
- Synchrony Bank has a Google Play rating of only 4.5.
- Synchrony Bank is not rated by the BBB.
→ As of October 21, 2025 Peak Bank offers an APY of 4.20% for its Envision High Yield Savings account, with a minimum balance of , compared to Synchrony Bank's 3.80% APY for its High Yield Savings account, with a minimum balance of $0.
→ Peak Bank yields $40 more than Synchrony Bank on a $10,000 balance after one year. Peak Bank pays $420, while Synchrony Bank pays $380 - an APY advantage for Peak Bank.
Calculate Savings Growth for Peak Bank vs Synchrony Bank
Peak 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 OverviewSynchrony Bank - High Yield Savings
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Peak Bank's total earnings would be $258.4 higher than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Peak Bank's vs Synchrony Bank's Savings Accounts
Peak Bank | Synchrony Bank | ||
---|---|---|---|
Product | Envision High Yield Savings | vs | High Yield Savings |
APY | 4.20% (as of 10/21/2025) | 3.80% (as of 10/21/2025) | |
Bundled Account | No | No | |
FDIC-insured | Yes | Yes | |
Online Only | Yes | Yes | |
Compound Frequency | Daily | Daily | |
Minimum Deposit | $100 | $0 | |
Minimum Balance for APY | N/A | $0 | |
Maintenance Fee | $0 | $0 | |
Direct Deposit Required | No | No | |
App Store Rating | 4.8/5 | 4.8/5 | |
Google Play Rating | 4.7/5 | 4.5/5 | |
BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 8 Months)
Peak Bank | Synchrony Bank | ||
---|---|---|---|
Product | Envision High Yield Savings | vs | High Yield Savings |
Latest APY | 4.20 % | 3.80 % | |
Trend | Sideways | Sideways | |
Slope (bps/mo) | -3.1 | -3.6 | |
Rate Changes / Mo | 0.48 | 0.12 | |
Days Since Last Change | 20 | 140 | |
High (-8 m) | 4.54 % | 4.00 % | |
Low (-8 m) | 4.20 % | 3.80 % | |
Draw-down from High | -7.5 % | -5.0 % | |
Volatility (CV) | 0.022 | 0.025 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 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 (-8 m)
- Highest APY in the last 250 days.
- Low (-8 m)
- Lowest APY in the last 250 days.
- Draw-down from High
- How far today sits below the 8-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.