Capital One vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: June 16, 2025
Summary of Capital One vs. Varo Bank
As of June 16, 2025 Capital One offers an APY of 3.60% for its 360 Performance Savings account, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account account.
Varo Bank yields $15 more than Capital One on a $10,000 balance after one year. Capital One pays $360, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Capital One
Strengths
- Capital One offers a competitive APY of 3.60%.
- 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 an A+ BBB rating versus Varo's A-.
Varo Bank
Strengths
- Varo Bank provides a high APY of 5.00% on savings.
- Higher Google Play rating at 4.7 compared to Capital One's 4.5.
Potential Drawbacks
- Direct deposit of $1,000/month is required for the high APY.
- Varo Bank has no physical branches.
Summary: Capital One's 360 Performance Savings offers a solid 3.60% APY without a direct deposit requirement and has over 200 branches. In contrast, Varo Bank provides a higher 5.00% APY but mandates a $1,000 monthly direct deposit and operates online-only with no branches. Additionally, Capital One has a slightly better BBB rating at A+ compared to Varo's A-.
Compare Capital One's vs Varo Bank's Savings Accounts
| Capital One | Varo Bank | ||
|---|---|---|---|
| Product | 360 Performance Savings | vs | High-Yield Savings Account |
| APY | 3.60% (as of 6/16/2025) | 2.50% - 5.00% (as of 6/16/2025) | |
| 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 | 3.60 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.2 | 0.0 | |
| Rate Changes / Mo | 0.41 | 0.00 | |
| Days Since Last Change | 69 | 145 | |
| High (-5 m) | 3.80 % | 5.00 % | |
| Low (-5 m) | 3.60 % | 5.00 % | |
| Draw-down from High | -5.3 % | 0.0 % | |
| Volatility (CV) | 0.018 | 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 145 days.
- Low (-5 m)
- Lowest APY in the last 145 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: 3.60%
Total savings breakdown:
- Interest earned: $36 (3.47%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.53%)
Your total balance
$1,036.00
Effective APY: 3.60% (based on your deposit and contributions)
Total balance: $1,036
Earnings: $36
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 $14 less than Varo Bank.
More Comparisons
Compare Capital One's APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Capital One vs Ally Bank | 3.60% | $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 | 4.20% | $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 | 3.60% | $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 | 3.60% | $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 | 4.20% | $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 | 3.60% | $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 |