Peak Bank vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Peak Bank vs. Synchrony Bank
As of September 5, 2025 Peak Bank offers an APY of 4.35% 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 $55 more than Synchrony Bank on a $10,000 balance after one year. Peak Bank pays $435, while Synchrony Bank pays $380 - an APY advantage for Peak Bank.
Peak Bank
Strengths
- Peak Bank offers a higher APY of 4.35% compared to Synchrony Bank's 3.80%.
- Peak Bank has an excellent BBB rating of A+.
- Peak Bank has no maintenance fees.
Potential Drawbacks
- Peak Bank is not BBB accredited.
- Peak Bank has no physical branches.
- Peak Bank requires a minimum deposit of $100.
Synchrony Bank
Strengths
- Synchrony Bank has no minimum deposit or balance requirements.
- Synchrony Bank has a solid App Store rating of 4.8.
- Synchrony Bank has no maintenance fees.
Potential Drawbacks
- Synchrony Bank's APY is lower at 3.80%.
- Synchrony Bank has a lower Google Play rating of 4.5.
- Synchrony Bank is not rated by the BBB.
Summary: Peak Bank offers a higher APY of 4.35% and an A+ BBB rating, but requires a $100 minimum deposit and is not accredited. In contrast, Synchrony Bank has no minimum deposit or balance requirements and maintains a competitive App Store rating, but offers a lower APY of 3.80% and lacks BBB rating. Both banks have no maintenance fees and operate online only.
Compare Peak Bank's vs Synchrony Bank's Savings Accounts
| Peak Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Envision High Yield Savings | vs | High Yield Savings |
| APY | 4.35% (as of 9/5/2025) | 3.80% (as of 9/5/2025) | |
| 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 | 4.6/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 7 Months)
| Peak Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Envision High Yield Savings | vs | High Yield Savings |
| Latest APY | 4.35 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -2.2 | -4.4 | |
| Rate Changes / Mo | 0.44 | 0.15 | |
| Days Since Last Change | 35 | 94 | |
| High (-7 m) | 4.54 % | 4.00 % | |
| Low (-7 m) | 4.35 % | 3.80 % | |
| Draw-down from High | -4.2 % | -5.0 % | |
| Volatility (CV) | 0.016 | 0.026 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 203 days.
- Low (-7 m)
- Lowest APY in the last 203 days.
- Draw-down from High
- How far today sits below the 7-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.
Calculate Savings Growth for Peak Bank vs Synchrony Bank
All calculations are based on APY.
Peak Bank
APY: 4.35%
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Effective APY: 4.35% (based on your deposit and contributions)
Total balance: $20,662
Earnings: $2,662
Bank OverviewSynchrony Bank
APY: 3.80%
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
Effective APY: 3.80% (based on your deposit and contributions)
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 $356.1 higher than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Peak Bank's APY of 4.35% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Peak Bank vs Ally Bank | 3.50% | $0 |
| Peak Bank vs American Express | 3.50% | $0 |
| Peak Bank vs Axos Bank | 4.46% | $0 |
| Peak Bank vs Bank of America | 0.01% | $100 |
| Peak Bank vs Barclays | 4.10% | $0 |
| Peak Bank vs BrioDirect | 4.30% | $5,000 |
| Peak Bank vs Capital One | 3.50% | $0 |
| Peak Bank vs Chase Bank | 0.01% | $0 |
| Peak Bank vs Chime | 3.75% | $0 |
| Peak Bank vs CIT Bank | 4.00% | $100 |
| Peak Bank vs Discover Bank | 3.50% | $0 |
| Peak Bank vs Elevault | 4.60% | $0 |
| Peak Bank vs EverBank | 4.30% | $0 |
| Peak Bank vs Fitness Bank | 4.75% | $100 |
| Peak Bank vs FVCbank | 4.35% | $500 |
| Peak Bank vs GO2bank | 4.50% | $0 |
| Peak Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Peak Bank vs Neighbors Bank | 4.60% | $0 |
| Peak Bank vs Newtek Bank | 4.35% | $0 |
| Peak Bank vs Pibank | 4.60% | $0 |
| Peak Bank vs Presidential Bank | 4.50% | $5,000 |
| Peak Bank vs Santander Bank | 0.03% | $25 |
| Peak Bank vs SoFi Bank | 3.80% | $0 |
| Peak Bank vs TIMBR | 4.40% | $1,000 |
| Peak Bank vs UFB Direct | 4.21% | $5000 |
| Peak Bank vs Varo Bank | 5.00% | $0 |
| Peak Bank vs Wells Fargo | 2.51% | $25 |
| Peak Bank vs Zynlo Bank | 4.35% | $10 |