Barclays vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Barclays
Tiered Savings
Up to4.00%APYDec 17, 2025FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppRange: 3.85% – 4.00%Show Fine Print & Trends Hide Details
Barclays
Tiered Savings
Varo Bank
High-Yield Savings Account
Up to5.00%APYDec 16, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 2.50% – 5.00%Show Fine Print & Trends Hide Details
Varo Bank
High-Yield Savings Account
Comparison Analysis
Comparing Barclays vs. Varo Bank
As of Barclays offers an APY of 4.00% for its Tiered Savings account, with a minimum balance of $250,000, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Barclays pays $10 more than Varo Bank on a $10,000 balance after one year. Barclays pays $385 (with an effective APY of 3.85%), while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Barclays.
In addition, Barclays also offers 3.60% APY for the Online Savings account, with a minimum balance of Enough to earn $0.01 in interest.
Why Barclays?
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.60%-4.00%) on balances up to $5,000 (requires checking bundle & direct deposit)
— Key Feature Differences —
Better Returns at $25,000
BarclaysBarclays's Tiered Savings pulls ahead with larger amounts (approx. $963 vs $750/yr).
Best for Simplicity
BarclaysBarclays's Online Savings offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Barclays's Tiered Savings pays $10 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00% on balances up to $5,000, making it the winner among the two banks. However, this account requires a Varo bank account and a minimum direct deposit of $1,000 per month. In contrast, Barclays provides a Tiered Savings account with an APY of 4.00% for balances over $250,000 and 3.85% for lower amounts, alongside an Online Savings account yielding 3.60% APY with no direct deposit requirement. Both banks are online-only and have 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.
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.
Barclays vs. Varo Bank Savings Calculator
You earn $10 more with Barclays than Varo Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Barclays | Varo Bank |
|---|---|---|
| APY | 4.00% Range: 3.85% - 4.00% Verified: 12/17/2025 ↘︎ 0.10%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 12/16/2025 Stable (90d) |
| Product Name | Tiered Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $250,000 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.9 Android4.7 | iOS4.9 Android4.6 |
| BBB Rating | A+ | A |
| Important Notes | The 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. | 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Barclays | Varo Bank | |
|---|---|---|---|
| Online Savings | Tiered Savings | High-Yield Savings Account | |
Current APY | 3.60% | 4.00% | 5.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.7 | -4.3 | 0.0 |
Days Since Change | 22 | 29 | 329 |
11-Month High | 4.00% | 4.50% | 5.00% |
11-Month Low | 3.60% | 4.00% | 5.00% |
Adjustments / Mo | 0.55 | 0.64 | 0.00 |
Volatility Score | 0.026 | 0.037 | 0.000 |
How to read these metrics(Click to expand)
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