Capital One vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: July 7, 2025
Summary of Capital One vs. Varo Bank
As of July 7, 2025 Capital One offers an APY of 3.50% for its 360 Performance Savings account, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account account.
Varo Bank yields $25 more than Capital One on a $10,000 balance after one year. Capital One pays $350, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Capital One
Strengths
- Offers a competitive APY of 3.50%, though it decreased from 3.60% last month.
- No direct deposit requirement for the 360 Performance Savings account.
- Capital One has over 200 branches across several states.
Potential Drawbacks
- Lower APY compared to Varo Bank's 5.00%.
- Only a 4.5 Google Play rating, lower than Varo's 4.7.
Varo Bank
Strengths
- Highest APY of 5.00% for the High-Yield Savings Account.
- Excellent 4.7 Google Play rating, higher than Capital One's 4.5.
- No maintenance fees for the High-Yield Savings Account.
Potential Drawbacks
- Requires direct deposit of at least $1,000/month to earn the highest APY.
- Varo Bank has no physical branches.
Summary: Capital One offers a 3.50% APY with no direct deposit requirement and physical branches, while Varo Bank provides a higher 5.00% APY but requires a direct deposit. Additionally, Varo has no maintenance fees but lacks physical locations. Both banks have strong App Store ratings, with Varo slightly ahead on Google Play.
Compare Capital One's vs Varo Bank's Savings Accounts
| Capital One | Varo Bank | ||
|---|---|---|---|
| Product | 360 Performance Savings | vs | High-Yield Savings Account |
| APY | 3.50% (as of 7/7/2025) | 2.50% - 5.00% (as of 7/7/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. Min. $1,000/month | |
| Note | N/A | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | |
| Visit Bank | 360 Performance Savings | High-Yield Savings Account | |
| App Store Rating | 4.9/5 | 4.9/5 | |
| Google Play Rating | 4.5/5 | 4.7/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 5 Months)
| Capital One | Varo Bank | ||
|---|---|---|---|
| Product | 360 Performance Savings | vs | High-Yield Savings Account |
| Latest APY | 3.50 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.3 | 0.0 | |
| Rate Changes / Mo | 0.54 | 0.00 | |
| Days Since Last Change | 11 | 166 | |
| High (-5 m) | 3.80 % | 5.00 % | |
| Low (-5 m) | 3.50 % | 5.00 % | |
| Draw-down from High | -7.9 % | 0.0 % | |
| Volatility (CV) | 0.021 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 167 days.
- Low (-5 m)
- Lowest APY in the last 167 days.
- Draw-down from High
- How far today sits below the 5-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 Capital One vs Varo Bank
All calculations are based on APY.
Capital One
APY: 3.50%
Total savings breakdown:
- Interest earned: $35 (3.38%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.62%)
Your total balance
$1,035.00
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $1,035
Earnings: $35
Bank DetailsVaro Bank
APY: 5.00%
Total savings breakdown:
- Interest earned: $50 (4.76%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.24%)
Your total balance
$1,050.00
Effective APY: 5.00% (based on your deposit and contributions)
Total balance: $1,050
Earnings: $50
Bank DetailsAfter 1 year Capital One would earn you $15 less than Varo Bank.
More Comparisons
Compare Capital One's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Capital One vs Ally Bank | 3.50% | $0 |
| Capital One vs American Express | 3.60% | $0 |
| Capital One vs Axos Bank | 4.66% | $0 |
| Capital One vs Bank of America | 0.01% | $100 |
| Capital One vs Barclays | 4.10% | $0 |
| Capital One vs Chase Bank | 0.01% | $0 |
| Capital One vs Chime | 3.75% | $0 |
| Capital One vs CIT Bank | 4.00% | $100 |
| Capital One vs Discover Bank | 3.50% | $0 |
| Capital One vs Fitness Bank | 5.00% | $100 |
| Capital One vs Marcus by Goldman Sachs | 3.65% | $0 |
| Capital One vs SoFi Bank | 3.80% | $0 |
| Capital One vs Synchrony Bank | 3.80% | $0 |
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.50% | $0 |
| Varo Bank vs American Express | 3.60% | $0 |
| Varo Bank vs Axos Bank | 4.66% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Barclays | 4.10% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 3.75% | $0 |
| Varo Bank vs CIT Bank | 4.00% | $100 |
| Varo Bank vs Discover Bank | 3.50% | $0 |
| Varo Bank vs Fitness Bank | 5.00% | $100 |
| Varo Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs SoFi Bank | 3.80% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |