High-Yield Savings Account Comparison

Peak Bank vs. Varo Bank

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 6, 2025
Advertising Disclosure: We may earn a commission from partner links.

Peak Bank

Envision High Yield Savings

4.20%
APY
Dec 6, 2025
FDIC InsuredLow MinimumsGreat iOS AppGreat Android App
Show Fine Print & Trends
Min. Deposit$100
Min. Balance$0
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 58095)
EligibilityUnited States
Mobile Ratings
iOS:4.8Android:4.6
BBB Rating
A+(Not BBB Accredited)

Rate Stability

Rate Adjusted
-0.15%
Since 90 days ago
Read Bank Overview

Varo Bank

High-Yield Savings Account

Up to
5.00%
APY
Dec 5, 2025
FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android App
Range: 2.50% – 5.00%
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0.01
Maintenance Fee$0
Compound FreqDaily
Direct DepositRequired (Min. $1,000/month)
Deposit InsuranceFDIC Insured(Cert: 59190)
EligibilityUnited States
Mobile Ratings
iOS:4.9Android:4.6
BBB Rating
A(BBB Accredited)

Important Note

Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.

Rate Stability

Very StableNo rate changes in last 90 days
Read Bank Overview

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.

Find Branch Access

Comparison Analysis

Comparing Peak Bank vs. Varo Bank

Updated: Dec 6, 2025

Why Peak Bank?

  • ✓No checking account or direct deposit required

Why Varo Bank?

  • ✓Higher potential APY (5.00% vs 4.20%) on balances up to $5,000 (requires checking bundle & direct deposit)

— Key Feature Differences —

Better Returns at $10,000
Peak Bank

Peak Bank's Envision High Yield Savings earns more on smaller deposits (approx. $420 vs $375/yr).

Better Returns at $25,000
Peak Bank

Peak Bank's Envision High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $750/yr).

Best for Simplicity
Peak Bank

Peak Bank's Envision High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.

Shared Benefits

Both offer monthly maintenance-free account options Available Nationwide Available to New & Existing Customers
The Bottom Line

Over a 1-year period, Peak Bank's Envision High Yield Savings pays $45 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.

Varo BankPeak Bank
Automated Data Audit

Executive Summary

Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on balances up to $5,000, making it the winner in this comparison. However, to qualify for this rate, a Varo bank account and a minimum direct deposit of $1,000 per month are required. For those looking for a simpler option without such conditions, Peak Bank's Envision High Yield Savings provides a solid alternative at 4.20% APY, with no direct deposit requirement and a minimum deposit of $100. Both banks operate online and charge no maintenance fees.

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.

ExplorePeak BankExploreVaro Bank
FeaturePeak BankVaro Bank
APY
4.20%
Verified: 12/6/2025
↘︎ 0.15%90d Change
5.00%
Range: 2.50% - 5.00%
Verified: 12/5/2025
Stable (90d)
Product NameEnvision High Yield SavingsHigh-Yield Savings Account
Minimum Deposit$100$0
Min. Balance for APYN/A$0.01
Monthly Fee$0$0
Branch AccessNoneNone
Account Type
Online Only
Online Only
Direct Deposit Req.None
RequiredMin. $1,000/month
Checking BundleNo Yes
Mobile Apps
iOS4.8
Android4.6
iOS4.9
Android4.6
BBB RatingA+A
Important Notes-Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.
Next Steps
- View Details
- View Details

Savings Comparison

Calculations based on current APY.
$
$

Peak Bank earns $352.9 more than Varo Bank.

Peak Bank

Envision High Yield Savings

4.20% APY

Savings Breakdown

  • Interest Earned
    +$2,564.30(12.5%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,564.30

Effective APY
4.20%
View Details

Varo Bank

High-Yield Savings Account

5.00% APY

5.00% on first $5,000 and 2.50% thereafter.

Savings Breakdown

  • Interest Earned
    +$2,211.40(10.9%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,211.40

Effective APY
3.65%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

📈 Compare Savings Rates Over Time

Historical Performance

Last 10 Months Analysis
MetricPeak BankVaro Bank
Envision High Yield SavingsHigh-Yield Savings Account
Current APY
4.20%5.00%
Trend
 Stable Stable
Velocity (bps/mo)
-3.70.0
Days Since Change
66290
10-Month High
4.54%5.00%
10-Month Low
4.20%5.00%
Adjustments / Mo
0.410.00
Volatility Score
0.0280.000
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 295-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Compare Similar Alternatives

Compare Peak Bank vs...

Comparing against Standard Savings

vs Peak Bank
PibankNo Bundle Req
4.60%
APY
vs Peak Bank
Neighbors BankNo Bundle Req
4.50%
APY
vs Peak Bank
TIMBRNo Bundle Req
4.40%
APY

Compare Varo Bank vs...

Comparing against other Bundled Accounts

vs Varo Bank
Axos BankChecking Bundle
4.31%
APY
vs Varo Bank
SoFi BankChecking Bundle
4.30%
APY
vs Varo Bank
Presidential BankChecking Bundle
4.00%
APY

More Comparisons

Compare Peak Bank's APY of 4.20% with other banks
Bank PairCompetitor APYMin Deposit
Peak Bank vs Ally Bank3.30%$0
Peak Bank vs American Express3.40%$0
Peak Bank vs Axos Bank4.31%$0
Peak Bank vs Bank of America0.01%$100
Peak Bank vs Barclays4.00%$0
Peak Bank vs Bask Bank3.90%$0
Peak Bank vs BMO Alto3.25%$0
Peak Bank vs BrioDirect4.00%$5,000
Peak Bank vs Capital One3.40%$0
Peak Bank vs Chase Bank0.01%$0
Peak Bank vs Chime3.50%$0
Peak Bank vs CIT Bank3.75%$100
Peak Bank vs Citibank3.30%$0
Peak Bank vs Citizens Access™3.35%$0.01
Peak Bank vs Climate First Bank4.21%$50
Peak Bank vs Discover Bank3.40%$0
Peak Bank vs Elevault4.08%$0
Peak Bank vs EverBank4.05%$0
Peak Bank vs Fitness Bank4.75%$100
Peak Bank vs FNBO Direct3.00%$1
Peak Bank vs Forbright Bank4.00%$0
Peak Bank vs FVCbank3.85%$500
Peak Bank vs GO2bank4.50%$0
Peak Bank vs Ivy Bank4.25%$2,500
Peak Bank vs LendingClub4.20%$0
Peak Bank vs Marcus by Goldman Sachs3.65%$0
Peak Bank vs Neighbors Bank4.50%$0
Peak Bank vs Newtek Bank4.35%$0.01
Peak Bank vs Openbank4.20%$500
Peak Bank vs Pibank4.60%$0
Peak Bank vs PNC3.53%$0
Peak Bank vs Presidential Bank4.00%$5,000
Peak Bank vs Quontic Bank3.75%$100
Peak Bank vs Salem Five Direct3.71%$10
Peak Bank vs Santander Bank0.01%$25
Peak Bank vs SoFi Bank4.30%$0
Peak Bank vs Synchrony Bank3.65%$0
Peak Bank vs TIMBR4.40%$1,000
Peak Bank vs UFB Direct3.71%$5000
Peak Bank vs Valley Direct4.10%$1,000
Peak Bank vs Vio Bank4.16%$100
Peak Bank vs Wealthfront4.15%$0
Peak Bank vs Wells Fargo0.05%$25
Peak Bank vs Zynlo Bank4.05%$10
Compare Varo Bank's APY of 5.00% with other banks
Bank PairCompetitor APYMin Deposit
Varo Bank vs Ally Bank3.30%$0
Varo Bank vs American Express3.40%$0
Varo Bank vs Axos Bank4.31%$0
Varo Bank vs Bank of America0.01%$100
Varo Bank vs Barclays4.00%$0
Varo Bank vs Bask Bank3.90%$0
Varo Bank vs BMO Alto3.25%$0
Varo Bank vs BrioDirect4.00%$5,000
Varo Bank vs Capital One3.40%$0
Varo Bank vs Chase Bank0.01%$0
Varo Bank vs Chime3.50%$0
Varo Bank vs CIT Bank3.75%$100
Varo Bank vs Citibank3.30%$0
Varo Bank vs Citizens Access™3.35%$0.01
Varo Bank vs Climate First Bank4.21%$50
Varo Bank vs Discover Bank3.40%$0
Varo Bank vs Elevault4.08%$0
Varo Bank vs EverBank4.05%$0
Varo Bank vs Fitness Bank4.75%$100
Varo Bank vs FNBO Direct3.00%$1
Varo Bank vs Forbright Bank4.00%$0
Varo Bank vs FVCbank3.85%$500
Varo Bank vs GO2bank4.50%$0
Varo Bank vs Ivy Bank4.25%$2,500
Varo Bank vs LendingClub4.20%$0
Varo Bank vs Marcus by Goldman Sachs3.65%$0
Varo Bank vs Neighbors Bank4.50%$0
Varo Bank vs Newtek Bank4.35%$0.01
Varo Bank vs Openbank4.20%$500
Varo Bank vs Pibank4.60%$0
Varo Bank vs PNC3.53%$0
Varo Bank vs Presidential Bank4.00%$5,000
Varo Bank vs Quontic Bank3.75%$100
Varo Bank vs Salem Five Direct3.71%$10
Varo Bank vs Santander Bank0.01%$25
Varo Bank vs SoFi Bank4.30%$0
Varo Bank vs Synchrony Bank3.65%$0
Varo Bank vs TIMBR4.40%$1,000
Varo Bank vs UFB Direct3.71%$5000
Varo Bank vs Valley Direct4.10%$1,000
Varo Bank vs Vio Bank4.16%$100
Varo Bank vs Wealthfront4.15%$0
Varo Bank vs Wells Fargo0.05%$25
Varo Bank vs Zynlo Bank4.05%$10