Capital One vs. Varo Bank
Capital One's 360 Performance Savings offers 3.20% APY.
Varo Bank's High-Yield Savings Account advertises 3.75% APY on the first $5,000 and 1.00% on the rest. On $10,000 you would earn about $237 a year.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
On a $10,000 balance, Capital One's 360 Performance Savings earns about $83 more in a year than Varo Bank's High-Yield Savings Account: $320 against $237.
Choose Capital One if getting the best rate matters most, you want a no-strings-attached account, or you value in-person banking and live in a state where the account has branch access.
Important Considerations
At balances above $6,250, Capital One earns more due to Varo Bank's APY cap.
For Varo Bank's High-Yield Savings Account, the top rate needs a linked account at the bank.
| Metric | Capital One360 Performance Savings Oct 21, 2026 | Varo BankHigh-Yield Savings Account Oct 21, 2026 |
|---|---|---|
| APY | 3.20% | Up to3.75%On the first $5,000 · 1.00% above |
Earns in a year | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqLinked AccountDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions pay less on $10,000 than the 10 highest-paying savings accounts we track that are open nationwide. Each of those earns at least $415 a year on $10,000.
Comparison Analysis
Comparing Capital One vs. Varo Bank
Why Capital One?
- No linked account or direct deposit required
- Physical branch access (Over 200 branches in Louisiana, Maryland, New Jersey, New York, Texas, Virginia and Washington, D.C.), for 360 Performance Savings in 8 states and DC only
- Offers 3 different high-yield savings options
Why Varo Bank?
- Higher potential APY (3.75% vs 3.20%) (first $5,000 only, needs a linked account at the bank, requires direct deposit)
Key Feature Differences
Better Returns at $10,000
Capital OneCapital One's 360 Performance Savings earns more on smaller deposits (approx. $320 vs $237/yr).
Better Returns at $25,000
Capital OneCapital One's 360 Performance Savings pulls ahead with larger amounts (approx. $800 vs $387/yr).
Better for Simplicity
Capital OneCapital One's Business Savings Account offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Capital One's 360 Performance Savings pays $83 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Capital One vs. Varo Bank Savings Calculator
You earn $112.5 more with Capital One 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.
Capital One
Business Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
Varo Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$237.50(2.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,237.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $232 a year in interest.
Both Capital One and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | Capital One | Varo Bank |
|---|---|---|
| APY | 3.20% Observed: 10/21/2026 0.20%90-day change | 3.75% Range: 1.00% - 3.75% Observed: 10/21/2026 Stable over 90 days |
| Product Name | 360 Performance Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branches | In 8 states and DC | None |
| Physical Branches | 252 (CT, DC, DE, LA, MD, NJ, NY, TX (+1 more)) | None that serve this account |
| Direct Deposit Req. | None | Required |
| Linked Account | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,500/dayAvailable for 360 Checking accounts. | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | A+ |
| Important Notes | - | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Next Steps | Visit SiteVerify at Capital One Non-sponsored link to official site | Visit SiteVerify at Varo Bank Non-sponsored link to official site |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
Capital One
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Capital One paid a higher average rate on savings and money market deposits than 92% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Varo Bank
The two figures answer different questions, so they sit side by side and are not combined. The 3.75% applies to the first $5,000. The balance above that earns 1.00%.
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
CD rates, term by term
Varo Bank has no CD listed on Banksparency. Capital One lists 10 CD terms, from 6 to 60 months. Its highest rate is 4.40% APY on the 11-month CD. Each row below is one term, with the FDIC national average for that term beside it.
| Term | Capital One APY | FDIC average (Oct 2026) |
|---|---|---|
| 12 months | 4.00% APYNo minimum | 1.76% |
| 6 months | 3.30% APYNo minimum | 1.39% |
| 9 months | 3.75% APYNo minimum | |
| 11 months | 4.40% APYNo minimum | 1.76%12-month average |
| 18 months | 3.60% APYNo minimum | |
| 24 months | 3.50% APYNo minimum | 1.55% |
| 30 months | 3.50% APYNo minimum | |
| 36 months | 3.50% APYNo minimum | 1.39% |
| 48 months | 3.50% APYNo minimum | 1.31% |
| 60 months | 3.60% APYNo minimum | 1.41% |
Varo Bank: no CD listed on Banksparency.
Compare Savings Rates Over Time
Historical Performance
| Metric | Capital One | Varo Bank | |
|---|---|---|---|
| Business Savings Account | 360 Performance Savings | High-Yield Savings Account | |
Current APY | 3.50% | 3.20% | 3.75% |
Trend | Stable | Stable | Stable |
Speed of change | 0.00 | -0.01 | -0.18 |
Days Since Change | 211 | 0 | 111 |
9-Month High | 3.50% | 3.30% | 5.00% |
9-Month Low | 3.50% | 3.00% | 3.75% |
Changes per month | 0.00 | 0.57 | 0.11 |
Steadiness | 0.000 | 0.033 | 0.143 |
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More Comparisons
Compare Capital One's APY of 3.20% with other banks
Compare Varo Bank's APY of 3.75% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.10% | $0 |
| Varo Bank vs American Express | 3.20% | $0 |
| Varo Bank vs Axos Bank | 5.00% | $0 |
| Varo Bank vs Barclays | 3.65% | $0 |
| Varo Bank vs Bask Bank | 3.90% | $0 |
| Varo Bank vs Betterment | 4.25% | $0 |
| Varo Bank vs BMO Alto | 3.00% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 4.00% | $0 |
| Varo Bank vs CIT Bank | 3.75% | $100 |
| Varo Bank vs Citibank | 3.00% | $0 |
| Varo Bank vs Citizens Access™ | 2.80% | $0.01 |
| Varo Bank vs Climate First Bank | 4.01% | $50 |
| Varo Bank vs EverBank | 4.20% | $0 |
| Varo Bank vs Fitness Bank | 3.80% | $100 |
| Varo Bank vs GO2bank | 4.50% | $0 |
| Varo Bank vs Marcus by Goldman Sachs | 3.50% | $0 |
| Varo Bank vs Newtek Bank | 4.20% | $100 |
| Varo Bank vs Openbank | 4.35% | $500 |
| Varo Bank vs Peak Bank | 4.27% | $100 |
| Varo Bank vs Pibank | 4.40% | $0 |
| Varo Bank vs PNC | 3.15% | $0 |
| Varo Bank vs SoFi Bank | 4.40% | $0 |
| Varo Bank vs Synchrony Bank | 3.55% | $0 |
| Varo Bank vs UFB Direct | 4.01% | $5,000 |
| Varo Bank vs Upgrade | 3.30% | $0 |
| Varo Bank vs Wealthfront | 4.20% | $0 |
| Varo Bank vs Wells Fargo | 0.05% | $25 |