Fitness Bank vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: September 16, 2025
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Summary of Fitness Bank vs. Varo Bank
As of September 16, 2025 Fitness Bank offers an APY of 4.75% for its Fitness Elite Checking & Fitness Savings Combo account, with a minimum balance of $100, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Fitness Bank yields $100 more than Varo Bank on a $10,000 balance after one year. Fitness Bank pays $475, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Fitness Bank.
In addition, Fitness Bank also offers 4.45% APY for the Fitness Savings Account account.
Fitness Bank
Strengths
- Fitness Bank offers a higher APY of 4.75% compared to Varo Bank's 5.00%.
- Fitness Bank has an A+ BBB rating, indicating strong trustworthiness.
- Fitness Bank allows account opening without a direct deposit requirement.
Potential Drawbacks
- Fitness Bank's APY decreased from 4.85% over the last 30 days.
- Fitness Bank's app ratings are low: 1.7 (App Store) and 0.0 (Google Play).
- Fitness Bank charges a $10 maintenance fee unless balance requirements are met.
Varo Bank
Strengths
- Varo Bank provides a competitive APY of 5.00% with a direct deposit requirement.
- Varo Bank has a $0 maintenance fee, making it cost-effective.
- Varo Bank boasts high app ratings: 4.9 (App Store) and 4.6 (Google Play).
Potential Drawbacks
- Varo Bank's APY is lower on balances exceeding $5,000 (2.50%).
- Varo Bank requires a minimum direct deposit of $1,000/month to earn the listed APY.
- Varo Bank has an A- BBB rating, slightly lower than Fitness Bank.
Summary: Fitness Bank offers a high APY of 4.75% but has seen a decrease recently and imposes maintenance fees. In contrast, Varo Bank provides a higher APY of 5.00% with a direct deposit requirement and no maintenance fees. Varo also enjoys significantly better app ratings, while Fitness Bank has a stronger BBB rating. Overall, Varo Bank may appeal more to tech-savvy users, while Fitness Bank might attract those prioritizing trustworthiness.
Compare Fitness Bank's vs Varo Bank's Savings Accounts
| Fitness Bank | Varo Bank | |||
|---|---|---|---|---|
| Product | Fitness Savings Account | Fitness Elite Checking & Fitness Savings Combo | vs | High-Yield Savings Account |
| APY | 4.45% (as of 9/16/2025) | 4.75% (as of 9/16/2025) | 2.50% - 5.00% (as of 9/16/2025) | |
| Bundled Account | No | Yes | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $100 | $100 | $0 | |
| Minimum Balance for APY | $100 | $100 | $0.01 | |
| Maintenance Fee | $10. Waived for average daily balances > $100 | $10. Waived for average daily balances > $100 | $0 | |
| Direct Deposit Required | No | No | Yes. Min. $1,000/month | |
| Note | This is a tiered account. To earn the highest tier you must track at least 12,500 avg. daily steps using the FitnessBank Step Tracker app as well as maintain a balance of $100. Failure to do so will result in a lower APY. See bank for more details and all tiers. | This is a tiered account. To earn the highest tier you must make 15 debit card transactions per Account Period, maintain $5,000 avg. minimum balance in the Elite Checking account, track at least 10,000 avg. daily steps using the FitnessBank Step Tracker app, as well as maintain a savings balance of $100. Failure to do so will result in a lower APY. See bank for more details and all tiers. | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | |
| App Store Rating | 1.7/5 | 4.9/5 | ||
| Google Play Rating | No | 4.6/5 | ||
| BBB Rating | A+ | A- | ||
Comparative Historical APY Insights (Last 6 Months)
| Fitness Bank | Varo Bank | |||
|---|---|---|---|---|
| Product | Fitness Elite Checking & Fitness Savings Combo | Fitness Savings Account | vs | High-Yield Savings Account |
| Latest APY | 4.75 % | 4.45 % | 5.00 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -3.4 | -1.3 | 0.0 | |
| Rate Changes / Mo | 0.33 | 0.33 | 0.00 | |
| Days Since Last Change | 13 | 13 | 183 | |
| High (-6 m) | 5.00 % | 4.55 % | 5.00 % | |
| Low (-6 m) | 4.75 % | 4.45 % | 5.00 % | |
| Draw-down from High | -5.0 % | -2.2 % | 0.0 % | |
| Volatility (CV) | 0.016 | 0.007 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 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 (-6 m)
- Highest APY in the last 184 days.
- Low (-6 m)
- Lowest APY in the last 184 days.
- Draw-down from High
- How far today sits below the 6-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 Fitness Bank vs Varo Bank
All calculations are based on APY.
Fitness Bank
APY: 4.75%
Total savings breakdown:
- Interest earned: $2,924.7 (13.98%)
- Total contributions: $13,000 (62.13%)
- Initial deposit: $5,000 (23.90%)
Your total balance
$20,924.70
Effective APY: 4.75% (based on your deposit and contributions)
Total balance: $20,924.7
Earnings: $2,924.7
Bank OverviewVaro Bank
APY: 5.00%
ℹ️You earn 5.00% on the first $5,000 and 2.50% on the rest.
Total savings breakdown:
- Interest earned: $2,211.4 (10.94%)
- Total contributions: $13,000 (64.32%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,211.40
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Fitness Bank's total earnings would be $713.3 higher than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Fitness Bank's APY of 4.75% with other banks
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.50% | $0 |
| Varo Bank vs American Express | 3.50% | $0 |
| Varo Bank vs Axos Bank | 4.46% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Barclays | 4.10% | $0 |
| Varo Bank vs BrioDirect | 4.30% | $5,000 |
| Varo Bank vs Capital One | 3.50% | $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 Elevault | 4.60% | $0 |
| Varo Bank vs EverBank | 4.30% | $0 |
| Varo Bank vs FVCbank | 4.35% | $500 |
| Varo Bank vs GO2bank | 4.50% | $0 |
| Varo Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs Neighbors Bank | 4.60% | $0 |
| Varo Bank vs Newtek Bank | 4.35% | $0 |
| Varo Bank vs Peak Bank | 4.35% | $100 |
| Varo Bank vs Pibank | 4.60% | $0 |
| Varo Bank vs Presidential Bank | 4.50% | $5,000 |
| Varo Bank vs Santander Bank | 0.03% | $25 |
| Varo Bank vs SoFi Bank | 4.50% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |
| Varo Bank vs TIMBR | 4.40% | $1,000 |
| Varo Bank vs UFB Direct | 4.21% | $5000 |
| Varo Bank vs Wells Fargo | 2.51% | $25 |
| Varo Bank vs Zynlo Bank | 4.35% | $10 |