FVCbank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | FVCbankAdvantage Direct Savings Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.85% | 2.50% - 5.00% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $500 | $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 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.
As of FVCbank offers an APY of 3.85% for its Advantage Direct Savings account, with a minimum balance of $500, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
FVCbank pays $10 more than Varo Bank on a $10,000 balance after one year. FVCbank pays $385, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for FVCbank.
Why FVCbank?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.85%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated iOS app (4.9 vs 4.4)
- ✓Higher rated Android app (4.6 vs 3.6)
— Key Feature Differences —
Better Returns at $25,000
FVCbankFVCbank's Advantage Direct Savings pulls ahead with larger amounts (approx. $963 vs $750/yr).
Best for Simplicity
FVCbankFVCbank's Advantage Direct Savings offers 3.85% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 4.4) and Android app rated 4.6 (vs. 3.6)
Shared Benefits
Over a 1-year period, FVCbank's Advantage Direct Savings pays $10 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
FVCbank offers a competitive Advantage Direct Savings account with an APY of 3.85%, requiring a minimum deposit of $500 and no direct deposit or maintenance fees. This account is online-only and provides straightforward savings without additional conditions. In contrast, Varo Bank's High-Yield Savings Account boasts a higher APY of 5.00% on balances up to $5,000, but requires a Varo bank account and a minimum direct deposit of $1,000 per month. For amounts exceeding $5,000, the APY drops to 2.50%. While Varo's account offers a higher yield, it comes with more restrictions, making FVCbank a simpler alternative.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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FVCbank vs. Varo Bank Savings Calculator
You earn $10 more with FVCbank than Varo Bank 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.
FVCbank
Advantage Direct Savings
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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 | FVCbank | Varo Bank |
|---|---|---|
| APY | 3.85% Verified: 1/21/2026 ↘︎ 0.25%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 Stable (90d) |
| Product Name | Advantage Direct Savings | High-Yield Savings Account |
| Minimum Deposit | $500 | $0 |
| Min. Balance for APY | $500 | $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 | iOS4.4 Android3.6 | iOS4.9 Android4.6 |
| Zelle® Support | Available Integrated into mobile app. | Available Requires history of qualifying direct deposits. |
| BBB Rating | B- | 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 FVCbank 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 | FVCbank | Varo Bank |
|---|---|---|
| Advantage Direct Savings | High-Yield Savings Account | |
Current APY | 3.85% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -8.4 | 0.0 |
Days Since Change | 81 | 307 |
10-Month High | 4.55% | 5.00% |
10-Month Low | 3.85% | 5.00% |
Adjustments / Mo | 0.78 | 0.00 |
Volatility Score | 0.064 | 0.000 |
How to read these metrics(Click to expand)
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