GO2bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | GO2bankHigh Yield Savings Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 0.00% - 4.50% | 2.50% - 5.00% |
Est. Earnings | $5,000+$225 $10,000+$225 $25,000+$225 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | A GO2bank checking account is required to open a savings account. The 4.50% APY is up to $5,000. Balances above that earn no interest. | 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 InsuredNo MinimumsGreat iOS AppGreat Android AppChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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As of GO2bank offers an APY of 4.50% for its High Yield Savings account, with a minimum balance of $0, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Varo Bank pays $150 more than GO2bank on a $10,000 balance after one year. GO2bank pays $225 (with an effective APY of 2.25%), while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Why GO2bank?
No distinct advantages found vs Varo Bank.
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.50%) on all balances
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $225/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $750 vs $225/yr).
Requires Banking Relationship
Both banks require a checking account bundle to access their highest rates.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $150 more interest on a $10,000 balance than GO2bank's High Yield Savings.
*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 APY of 5.00% on balances up to $5,000, making it the winner compared to GO2bank's High Yield Savings, which provides a 4.50% APY under similar conditions. While both accounts are online-only and require no minimum deposit, Varo mandates a direct deposit of at least $1,000 per month to qualify for the higher rate. For balances exceeding $5,000, Varo's rate drops to 2.50%, whereas GO2bank does not earn interest on amounts above $5,000. GO2bank requires a checking account to open a savings account, while Varo also has a checking account requirement.
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
Non-sponsored link to official site
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GO2bank vs. Varo Bank Savings Calculator
You earn $150 more with Varo Bank than GO2bank 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.
GO2bank
High Yield Savings
4.50% on first $5,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$225.00(2.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,225.00
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 | GO2bank | Varo Bank |
|---|---|---|
| APY | 4.50% 0Verified: 1/21/2026 Stable (90d) | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 Stable (90d) |
| Product Name | High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $5 per month, unless you set up direct deposit | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.8 Android4.5 | iOS4.9 Android4.6 |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| BBB Rating | Not Rated | A |
| Important Notes | A GO2bank checking account is required to open a savings account. The 4.50% APY is up to $5,000. Balances above that earn no interest. | 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 GO2bank 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 | GO2bank | Varo Bank |
|---|---|---|
| High Yield Savings | High-Yield Savings Account | |
Current APY | 4.50% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | 0.0 |
Days Since Change | 167 | 167 |
6-Month High | 4.50% | 5.00% |
6-Month Low | 4.50% | 5.00% |
Adjustments / Mo | 0.00 | 0.00 |
Volatility Score | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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