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

FeaturePeak BankSynchrony 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.
Summary: Peak Bank offers a higher APY of 4.20% and an A+ BBB rating, but it has seen a recent decrease in APY. Synchrony Bank provides no minimum deposit requirements and maintains competitive app ratings, but its APY is lower at 3.80% and lacks BBB accreditation. Both banks have no maintenance fees and operate online-only without physical branches.

→ 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

All calculations are based on APY.

Peak Bank - Envision High Yield Savings

Top APY: 4.20%

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

Effective APY: 4.20% (based on your deposit and contributions)

Total balance: $20,564.3

Earnings: $2,564.3

Bank Overview

Synchrony Bank - High Yield Savings

Top 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 Overview

With 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 BankSynchrony Bank
ProductEnvision High Yield SavingsvsHigh Yield Savings
APY
4.20% (as of 10/21/2025)3.80% (as of 10/21/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyYesYes
Compound Frequency
DailyDaily
Minimum Deposit$100$0
Minimum Balance for APYN/A$0
Maintenance Fee$0$0
Direct Deposit Required
NoNo
App Store Rating4.8/54.8/5
Google Play Rating4.7/54.5/5
BBB RatingA+Not Rated

Comparative Historical APY Insights (Last 8 Months)

Peak BankSynchrony Bank
ProductEnvision High Yield SavingsvsHigh Yield Savings
Latest APY4.20 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)-3.1-3.6
Rate Changes / Mo0.480.12
Days Since Last Change20140
High (-8 m)4.54 %4.00 %
Low (-8 m)4.20 %3.80 %
Draw-down from High-7.5 %-5.0 %
Volatility (CV)0.0220.025
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.

More Comparisons

Compare Peak Bank's APY of 4.20% with other banks
Compare Synchrony Bank's APY of 3.80% with other banks