High-Yield Savings Account Comparison

Elevault vs. Varo Bank

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 6, 2025
Advertising Disclosure: We may earn a commission from partner links.

Elevault

High Yield Savings Account

4.08%
APY
Dec 6, 2025
FDIC InsuredNo Minimums
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 1528)
EligibilityUnited States
Mobile Ratings
iOS:3.7Android:3.9
BBB Rating
A+(Not BBB Accredited)

Important Note

The 4.08% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.

Rate Stability

Rate Adjusted
-0.52%
Since 90 days ago
Read Bank Overview

Varo Bank

High-Yield Savings Account

Up to
5.00%
APY
Dec 5, 2025
FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android App
Range: 2.50% – 5.00%
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0.01
Maintenance Fee$0
Compound FreqDaily
Direct DepositRequired (Min. $1,000/month)
Deposit InsuranceFDIC Insured(Cert: 59190)
EligibilityUnited States
Mobile Ratings
iOS:4.9Android:4.6
BBB Rating
A(BBB Accredited)

Important Note

Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.

Rate Stability

Very StableNo rate changes in last 90 days
Read Bank Overview

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.

Find Branch Access

Comparison Analysis

Comparing Elevault vs. Varo Bank

Updated: Dec 6, 2025

Why Elevault?

  • ✓No checking account or direct deposit required

Why Varo Bank?

  • ✓Higher potential APY (5.00% vs 4.08%) on balances up to $5,000 (requires checking bundle & direct deposit)
  • ✓Higher rated iOS app (4.9 vs 3.7)
  • ✓Higher rated Android app (4.6 vs 3.9)

— Key Feature Differences —

Better Returns at $10,000
Elevault

Elevault's High Yield Savings Account earns more on smaller deposits (approx. $408 vs $375/yr).

Better Returns at $25,000
Elevault

Elevault's High Yield Savings Account pulls ahead with larger amounts (approx. $1020 vs $750/yr).

Best for Simplicity
Elevault

Elevault's High Yield Savings Account offers 4.08% APY with no bundling, direct deposit requirement or caps.

Best Mobile App Experience
Varo Bank

Varo Bank offers an iOS app rated 4.9 (vs. 3.7) and Android app rated 4.6 (vs. 3.9)

Shared Benefits

Both offer monthly maintenance-free account options Both banks have options with $0 opening deposit Available Nationwide Available to New & Existing Customers
The Bottom Line

Over a 1-year period, Elevault's High Yield Savings Account pays $33 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.

Varo BankElevault
Automated Data Audit

Executive Summary

Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on balances up to $5,000, making it the winner in this comparison. However, to earn this rate, customers must set up a Varo bank account and maintain a direct deposit of at least $1,000 per month. For those seeking a simpler option without direct deposit requirements, Elevault's High Yield Savings Account provides a solid alternative with a 4.08% APY on balances up to $250,000, and it has no minimum deposit or maintenance fees. Both accounts are online-only and FDIC insured.

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.

ExploreElevaultExploreVaro Bank
FeatureElevaultVaro Bank
APY
4.08%
Verified: 12/6/2025
↘︎ 0.52%90d Change
5.00%
Range: 2.50% - 5.00%
Verified: 12/5/2025
Stable (90d)
Product NameHigh Yield Savings AccountHigh-Yield Savings Account
Minimum Deposit$0$0
Min. Balance for APY$0$0.01
Monthly Fee$0$0
Branch AccessNoneNone
Account Type
Online Only
Online Only
Direct Deposit Req.None
RequiredMin. $1,000/month
Checking BundleNo Yes
Mobile Apps
iOS3.7
Android3.9
iOS4.9
Android4.6
BBB RatingA+A
Important NotesThe 4.08% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500.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
- View Details
- View Details

Savings Comparison

Calculations based on current APY.
$
$

Elevault earns $275 more than Varo Bank.

Elevault

High Yield Savings Account

4.08% APY

Savings Breakdown

  • Interest Earned
    +$2,486.40(12.1%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,486.40

Effective APY
4.08%
View Details

Varo Bank

High-Yield Savings Account

5.00% APY

5.00% on first $5,000 and 2.50% thereafter.

Savings Breakdown

  • Interest Earned
    +$2,211.40(10.9%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $5,000

Projected Balance

$20,211.40

Effective APY
3.65%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

📈 Compare Savings Rates Over Time

Historical Performance

Last 4 Months Analysis
MetricElevaultVaro Bank
High Yield Savings AccountHigh-Yield Savings Account
Current APY
4.08%5.00%
Trend
 Stable Stable
Velocity (bps/mo)
-16.60.0
Days Since Change
32121
4-Month High
4.60%5.00%
4-Month Low
4.08%5.00%
Adjustments / Mo
0.490.00
Volatility Score
0.0480.000
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 122-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Compare Similar Alternatives

Compare Elevault vs...

Comparing against Standard Savings

vs Elevault
PibankNo Bundle Req
4.60%
APY
vs Elevault
Neighbors BankNo Bundle Req
4.50%
APY
vs Elevault
TIMBRNo Bundle Req
4.40%
APY

Compare Varo Bank vs...

Comparing against other Bundled Accounts

vs Varo Bank
Axos BankChecking Bundle
4.31%
APY
vs Varo Bank
SoFi BankChecking Bundle
4.30%
APY
vs Varo Bank
Presidential BankChecking Bundle
4.00%
APY

More Comparisons

Compare Elevault's APY of 4.08% with other banks
Bank PairCompetitor APYMin Deposit
Elevault vs Ally Bank3.30%$0
Elevault vs American Express3.40%$0
Elevault vs Axos Bank4.31%$0
Elevault vs Bank of America0.01%$100
Elevault vs Barclays4.00%$0
Elevault vs Bask Bank3.90%$0
Elevault vs BMO Alto3.25%$0
Elevault vs BrioDirect4.00%$5,000
Elevault vs Capital One3.40%$0
Elevault vs Chase Bank0.01%$0
Elevault vs Chime3.50%$0
Elevault vs CIT Bank3.75%$100
Elevault vs Citibank3.30%$0
Elevault vs Citizens Access™3.35%$0.01
Elevault vs Climate First Bank4.21%$50
Elevault vs Discover Bank3.40%$0
Elevault vs EverBank4.05%$0
Elevault vs Fitness Bank4.75%$100
Elevault vs FNBO Direct3.00%$1
Elevault vs Forbright Bank4.00%$0
Elevault vs FVCbank3.85%$500
Elevault vs GO2bank4.50%$0
Elevault vs Ivy Bank4.25%$2,500
Elevault vs LendingClub4.20%$0
Elevault vs Marcus by Goldman Sachs3.65%$0
Elevault vs Neighbors Bank4.50%$0
Elevault vs Newtek Bank4.35%$0.01
Elevault vs Openbank4.20%$500
Elevault vs Peak Bank4.20%$100
Elevault vs Pibank4.60%$0
Elevault vs PNC3.53%$0
Elevault vs Presidential Bank4.00%$5,000
Elevault vs Quontic Bank3.75%$100
Elevault vs Salem Five Direct3.71%$10
Elevault vs Santander Bank0.01%$25
Elevault vs SoFi Bank4.30%$0
Elevault vs Synchrony Bank3.65%$0
Elevault vs TIMBR4.40%$1,000
Elevault vs UFB Direct3.71%$5000
Elevault vs Valley Direct4.10%$1,000
Elevault vs Vio Bank4.16%$100
Elevault vs Wealthfront4.15%$0
Elevault vs Wells Fargo0.05%$25
Elevault vs Zynlo Bank4.05%$10
Compare Varo Bank's APY of 5.00% with other banks
Bank PairCompetitor APYMin Deposit
Varo Bank vs Ally Bank3.30%$0
Varo Bank vs American Express3.40%$0
Varo Bank vs Axos Bank4.31%$0
Varo Bank vs Bank of America0.01%$100
Varo Bank vs Barclays4.00%$0
Varo Bank vs Bask Bank3.90%$0
Varo Bank vs BMO Alto3.25%$0
Varo Bank vs BrioDirect4.00%$5,000
Varo Bank vs Capital One3.40%$0
Varo Bank vs Chase Bank0.01%$0
Varo Bank vs Chime3.50%$0
Varo Bank vs CIT Bank3.75%$100
Varo Bank vs Citibank3.30%$0
Varo Bank vs Citizens Access™3.35%$0.01
Varo Bank vs Climate First Bank4.21%$50
Varo Bank vs Discover Bank3.40%$0
Varo Bank vs EverBank4.05%$0
Varo Bank vs Fitness Bank4.75%$100
Varo Bank vs FNBO Direct3.00%$1
Varo Bank vs Forbright Bank4.00%$0
Varo Bank vs FVCbank3.85%$500
Varo Bank vs GO2bank4.50%$0
Varo Bank vs Ivy Bank4.25%$2,500
Varo Bank vs LendingClub4.20%$0
Varo Bank vs Marcus by Goldman Sachs3.65%$0
Varo Bank vs Neighbors Bank4.50%$0
Varo Bank vs Newtek Bank4.35%$0.01
Varo Bank vs Openbank4.20%$500
Varo Bank vs Peak Bank4.20%$100
Varo Bank vs Pibank4.60%$0
Varo Bank vs PNC3.53%$0
Varo Bank vs Presidential Bank4.00%$5,000
Varo Bank vs Quontic Bank3.75%$100
Varo Bank vs Salem Five Direct3.71%$10
Varo Bank vs Santander Bank0.01%$25
Varo Bank vs SoFi Bank4.30%$0
Varo Bank vs Synchrony Bank3.65%$0
Varo Bank vs TIMBR4.40%$1,000
Varo Bank vs UFB Direct3.71%$5000
Varo Bank vs Valley Direct4.10%$1,000
Varo Bank vs Vio Bank4.16%$100
Varo Bank vs Wealthfront4.15%$0
Varo Bank vs Wells Fargo0.05%$25
Varo Bank vs Zynlo Bank4.05%$10