Jenius Bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Jenius BankJenius Savings Jan 7, 2026 | Varo BankHigh-Yield Savings Account Jan 7, 2026 |
|---|---|---|
| APY | 4.05% | 2.50% - 5.00% |
Est. Earnings | $5,000+$203 $10,000+$405 $25,000+$1,013 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $0 | $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 InsuredNo Minimums | 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 Jenius Bank vs. Varo Bank
As of Jenius Bank offers an APY of 4.05% for its Jenius 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.
Jenius Bank pays $30 more than Varo Bank on a $10,000 balance after one year. Jenius Bank pays $405, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Jenius Bank.
Why Jenius Bank?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.05%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated iOS app (4.9 vs 4.0)
- ✓Higher rated Android app (4.6 vs 3.6)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Jenius BankJenius Bank's Jenius Savings earns more on smaller deposits (approx. $405 vs $375/yr).
Better Returns at $25,000
Jenius BankJenius Bank's Jenius Savings pulls ahead with larger amounts (approx. $1013 vs $750/yr).
Best for Simplicity
Jenius BankJenius Bank's Jenius Savings offers 4.05% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 4.0) and Android app rated 4.6 (vs. 3.6)
Shared Benefits
Over a 1-year period, Jenius Bank's Jenius Savings pays $30 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
Jenius Bank's Jenius Savings account offers a competitive 4.05% APY with no minimum deposit, maintenance fees, or direct deposit requirements, making it a straightforward option for savers. In contrast, Varo Bank provides a higher APY of 5.00% on deposits up to $5,000, but it requires a Varo bank account and a minimum direct deposit of $1,000 per month, with a lower rate of 2.50% on amounts exceeding that cap. Both banks operate online only and are FDIC insured, but Jenius Bank stands out for its simplicity and accessibility.
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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Jenius Bank vs. Varo Bank Savings Calculator
You earn $30 more with Jenius Bank 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.
Jenius Bank
Jenius Savings
Savings Breakdown
- Interest Earned+$405.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,405.00
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 | Jenius Bank | Varo Bank |
|---|---|---|
| APY | 4.05% Verified: 1/7/2026 ↘︎ 0.15%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/7/2026 Stable (90d) |
| Product Name | Jenius Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $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 | iOS4.0 Android3.6 | iOS4.9 Android4.6 |
| Zelle® Support | Not Supported | 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 Jenius Bank 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 | Jenius Bank | Varo Bank |
|---|---|---|
| Jenius Savings | High-Yield Savings Account | |
Current APY | 4.05% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.8 | 0.0 |
Days Since Change | 50 | 350 |
11-Month High | 4.50% | 5.00% |
11-Month Low | 4.05% | 5.00% |
Adjustments / Mo | 0.17 | 0.00 |
Volatility Score | 0.029 | 0.000 |
How to read these metrics(Click to expand)
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