Colorado Federal Savings Bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Colorado Federal Savings BankPremier Savings Jan 7, 2026 | Varo BankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.05% | 2.50% - 5.00% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$0 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $50,000 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredHigh MinimumGreat iOS App | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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.
Comparison Analysis
Comparing Colorado Federal Savings Bank vs. Varo Bank
As of Colorado Federal Savings Bank offers an APY of 4.05% for its Premier Savings account, with a minimum balance of $50,000, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Colorado Federal Savings Bank pays $30 more than Varo Bank on a $10,000 balance after one year. Colorado Federal Savings Bank pays $405, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Colorado Federal Savings Bank.
In addition, Colorado Federal Savings Bank also offers 4.00% APY for the High Yield Savings account, with a minimum balance of $1.
Why Colorado Federal Savings Bank?
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.00%-4.05%) on all balances
- ✓Higher rated iOS app (4.9 vs 4.3)
- ✓Higher rated Android app (4.6 vs 0.0)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $0/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $750 vs $0/yr).
Best for Simplicity
Colorado Federal Savings BankColorado Federal Savings Bank's Premier Savings offers 4.05% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
Varo BankVaro Bank's High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 4.3) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, Colorado Federal Savings Bank's Premier Savings pays $30 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 as of
Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on balances up to $5,000, requiring a Varo bank account and a minimum direct deposit of $1,000 per month. For amounts exceeding this limit, the APY drops to 2.50%. In contrast, Colorado Federal Savings Bank's Premier Savings account provides a slightly lower 4.05% APY with no direct deposit requirement and a minimum deposit of $50,000. Both banks operate online only, with no maintenance fees, making them accessible options for savers. However, Varo Bank's account is better suited for those who can meet the direct deposit requirement, while Colorado Federal Savings Bank offers a simpler alternative for higher balances.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Colorado Federal Savings Bank vs. Varo Bank Savings Calculator
You earn $650 more with Colorado Federal Savings Bank than Varo Bank on a $50,000 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.
Colorado Federal Savings Bank
Premier Savings
Savings Breakdown
- Interest Earned+$2,025.00(3.9%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$52,025.00
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$1,375.00(2.7%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$51,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Colorado Federal Savings Bank | Varo Bank |
|---|---|---|
| APY | 4.05% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/7/2026 Stable (90d) |
| Product Name | Premier Savings | High-Yield Savings Account |
| Minimum Deposit | $50,000 | $0 |
| Min. Balance for APY | $50,000 | $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 | iOS4.3 Android- | iOS4.9 Android4.6 |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | 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 | Visit SiteVerify at Colorado Federal Savings Bank Non-sponsored link to official site | Visit SiteVerify at Varo Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Colorado Federal Savings Bank | Varo Bank | |
|---|---|---|---|
| Premier Savings | High Yield Savings | High-Yield Savings Account | |
Current APY | 4.05% | 4.00% | 5.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -2.6 | -2.6 | 0.0 |
Days Since Change | 89 | 89 | 322 |
11-Month High | 4.25% | 4.25% | 5.00% |
11-Month Low | 4.05% | 4.00% | 5.00% |
Adjustments / Mo | 0.19 | 0.37 | 0.00 |
Volatility Score | 0.022 | 0.022 | 0.000 |
How to read these metrics(Click to expand)
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