Fitness Bank vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: July 7, 2025
Summary of Fitness Bank vs. Varo Bank
As of July 7, 2025 Fitness Bank offers an APY of 5.00% for its Fitness Elite Checking & Fitness Savings Combo account, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account account.
Fitness Bank yields $125 more than Varo Bank on a $10,000 balance after one year. Fitness Bank pays $500, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Fitness Bank.
In addition, Fitness Bank also offers 4.55% APY for the Fitness Savings Account account.
Fitness Bank
Strengths
- Fitness Bank offers a high APY of 5.00% without a direct deposit requirement.
- Fitness Bank has an A+ BBB rating, indicating strong trustworthiness.
- Fitness Bank's Fitness Savings Account has a competitive APY of 4.55%.
Potential Drawbacks
- Fitness Bank's App Store rating is low at 1.7, indicating user dissatisfaction.
- Fitness Bank requires maintaining specific activity levels to earn the highest APY.
- Fitness Bank charges a $10 maintenance fee unless balance requirements are met.
Varo Bank
Strengths
- Varo Bank has an excellent App Store rating of 4.9 and Google Play rating of 4.7.
- Varo Bank's High-Yield Savings Account has no maintenance fees.
- Varo Bank's APY is straightforward at 5.00% with no tiered requirements.
Potential Drawbacks
- Varo Bank requires a minimum direct deposit of $1,000/month to earn the highest APY.
- Varo Bank's BBB rating is A-, slightly lower than Fitness Bank's A+.
- Varo Bank's APY drops to 2.50% on balances over $5,000.
Summary: Fitness Bank offers a high APY of 5.00% without direct deposit, but has a low App Store rating and specific activity requirements. In contrast, Varo Bank also offers a 5.00% APY but requires a $1,000 monthly direct deposit and has higher user ratings. Fitness Bank has a stronger BBB rating, while Varo Bank's fees are more favorable without maintenance charges, though it has a tiered APY structure beyond $5,000.
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 | 4.55% (as of 7/7/2025) | 5.00% (as of 7/7/2025) | 2.50% - 5.00% (as of 7/7/2025) | |
| 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. | |
| Visit Bank | Fitness Savings Account | Fitness Elite Checking & Fitness Savings Combo | High-Yield Savings Account | |
| App Store Rating | 1.7/5 | 4.9/5 | ||
| Google Play Rating | No | 4.7/5 | ||
| BBB Rating | A+ | A- | ||
Comparative Historical APY Insights (Last 4 Months)
| Fitness Bank | Varo Bank | |||
|---|---|---|---|---|
| Product | Fitness Elite Checking & Fitness Savings Combo | Fitness Savings Account | vs | High-Yield Savings Account |
| Latest APY | 5.00 % | 4.55 % | 5.00 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.00 | |
| Days Since Last Change | 112 | 112 | 112 | |
| High (-4 m) | 5.00 % | 4.55 % | 5.00 % | |
| Low (-4 m) | 5.00 % | 4.55 % | 5.00 % | |
| Draw-down from High | 0.0 % | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 4 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 (-4 m)
- Highest APY in the last 113 days.
- Low (-4 m)
- Lowest APY in the last 113 days.
- Draw-down from High
- How far today sits below the 4-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: 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 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 Fitness Bank would earn you the same as Varo Bank.
More Comparisons
Compare Fitness Bank's APY of 5.00% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Fitness Bank vs Ally Bank | 3.50% | $0 |
| Fitness Bank vs American Express | 3.60% | $0 |
| Fitness Bank vs Axos Bank | 4.66% | $0 |
| Fitness Bank vs Bank of America | 0.01% | $100 |
| Fitness Bank vs Barclays | 4.10% | $0 |
| Fitness Bank vs Capital One | 3.50% | $0 |
| Fitness Bank vs Chase Bank | 0.01% | $0 |
| Fitness Bank vs Chime | 3.75% | $0 |
| Fitness Bank vs CIT Bank | 4.00% | $100 |
| Fitness Bank vs Discover Bank | 3.50% | $0 |
| Fitness Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Fitness Bank vs SoFi Bank | 3.80% | $0 |
| Fitness Bank 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 | 3.50% | $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 | 4.10% | $0 |
| 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 Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs SoFi Bank | 3.80% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |