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 9, 2026 | Varo BankHigh-Yield Savings Account Feb 21, 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 | As of Jan 9, 2026, Jenius Bank is winding down its U.S. digital banking operations. As a result, no new applications for savings accounts or loans will be accepted. | 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 MinimumsDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingStable Rate |
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
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00% on balances up to $5,000, while amounts above that earn a lower rate of 2.50%. This account requires a Varo bank account and a minimum direct deposit of $1,000 per month, making it suitable for those who can meet these conditions. Additionally, there are no maintenance fees or minimum deposits required, and the account is online-only. In contrast, Jenius Bank currently does not have any products listed.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 3.7)
- ✓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. 3.7)
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.
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.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $374 per year in interest.
Both Jenius Bank and Varo Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Jenius Bank | Varo Bank |
|---|---|---|
| APY | 4.05% Verified: 1/9/2026 ↘︎ 0.15%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 2/21/2026 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 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | A |
| Important Notes | As of Jan 9, 2026, Jenius Bank is winding down its U.S. digital banking operations. As a result, no new applications for savings accounts or loans will be accepted. | 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 | 52 | 352 |
12-Month High | 4.50% | 5.00% |
12-Month Low | 4.05% | 5.00% |
Adjustments / Mo | 0.17 | 0.00 |
Volatility Score | 0.030 | 0.000 |
How to read these metrics(Click to expand)
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Compare Jenius Bank's APY of 4.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Jenius Bank vs Ally Bank | 3.20% | $0 |
| Jenius Bank vs American Express | 3.30% | $0 |
| Jenius Bank vs Axos Bank | 4.21% | $0 |
| Jenius Bank vs Bank of America | 0.01% | $100 |
| Jenius Bank vs Barclays | 3.85% | $0 |
| Jenius Bank vs Capital One | 3.30% | $0 |
| Jenius Bank vs Chase Bank | 0.01% | $0 |
| Jenius Bank vs Chime | 3.00% | $0 |
| Jenius Bank vs CIT Bank | 3.75% | $100 |
| Jenius Bank vs Citibank | 3.20% | $0 |
| Jenius Bank vs Discover Bank | 3.30% | $0 |
| Jenius Bank vs EverBank | 3.90% | $0 |
| Jenius Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Jenius Bank vs Newtek Bank | 4.20% | $0.01 |
| Jenius Bank vs Openbank | 4.09% | $500 |
| Jenius Bank vs Pibank | 4.60% | $0 |
| Jenius Bank vs SoFi Bank | 4.00% | $0 |
| Jenius Bank vs Synchrony Bank | 3.50% | $0 |
| Jenius Bank vs Wealthfront | 3.95% | $0 |
| Jenius Bank vs Wells Fargo | 0.05% | $25 |