FNBO Direct vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | FNBO DirectHigh-Yield Online Savings Account Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.00% | 2.50% - 5.00% |
Est. Earnings | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $1 | $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 InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | 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 FNBO Direct vs. Varo Bank
As of FNBO Direct offers an APY of 3.00% for its High-Yield Online Savings Account, with a minimum balance of $0.01, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Varo Bank pays $75 more than FNBO Direct on a $10,000 balance after one year. FNBO Direct pays $300, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Why FNBO Direct?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.00%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated iOS app (4.9 vs 4.5)
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $300/yr).
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.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $75 more interest on a $10,000 balance than FNBO Direct's High-Yield Online 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 an impressive APY of 5.00%, significantly higher than FNBO Direct's 3.00% APY for its High-Yield Online Savings Account. Varo's account requires a direct deposit of at least $1,000 per month and is designed for customers who also open a checking account, providing better returns on smaller deposits. Both accounts are online-only and have no maintenance fees, but FNBO Direct does not require direct deposit, making it a simpler alternative for those who prefer not to meet that condition.
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
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FNBO Direct vs. Varo Bank Savings Calculator
You earn $75 more with Varo Bank than FNBO Direct 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.
FNBO Direct
High-Yield Online Savings Account
Savings Breakdown
- Interest Earned+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | FNBO Direct | Varo Bank |
|---|---|---|
| APY | 3.00% Verified: 1/21/2026 Stable (90d) | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 Stable (90d) |
| Product Name | High-Yield Online Savings Account | High-Yield Savings Account |
| Minimum Deposit | $1 | $0 |
| Min. Balance for APY | $0.01 | $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 | iOS4.5 Android4.8 | iOS4.9 Android4.6 |
| Zelle® Support | Available Online division fully supports Zelle. | 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 FNBO Direct 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 | FNBO Direct | Varo Bank |
|---|---|---|
| High-Yield Online Savings Account | High-Yield Savings Account | |
Current APY | 3.00% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.7 | 0.0 |
Days Since Change | 110 | 180 |
6-Month High | 3.25% | 5.00% |
6-Month Low | 3.00% | 5.00% |
Adjustments / Mo | 0.17 | 0.00 |
Volatility Score | 0.038 | 0.000 |
How to read these metrics(Click to expand)
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