Marcus By Goldman Sachs vs Varo Money
High-Yield Savings Accounts Comparison
Last Updated: September 18, 2025
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Summary of Marcus by Goldman Sachs vs. Varo Bank
As of September 18, 2025 Marcus by Goldman Sachs offers an APY of 3.65% for its Marcus Online 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 yields $10 more than Marcus by Goldman Sachs on a $10,000 balance after one year. Marcus by Goldman Sachs pays $365, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Marcus by Goldman Sachs
Strengths
- Marcus by Goldman Sachs offers a competitive APY of 3.65% with no direct deposit requirement.
- Marcus by Goldman Sachs has a strong BBB rating of A+.
- Marcus by Goldman Sachs charges no maintenance fees.
Potential Drawbacks
- Marcus by Goldman Sachs has no physical branches.
- Marcus by Goldman Sachs has a lower APY compared to Varo Bank.
Varo Bank
Strengths
- Varo Bank provides a high APY of 5.00% on savings up to $5,000.
- Varo Bank has an excellent App Store rating of 4.9.
- Varo Bank is BBB Accredited with a rating of A-.
Potential Drawbacks
- Varo Bank requires a minimum direct deposit of $1,000/month to earn the highest APY.
- Varo Bank has no physical branches.
Summary: Marcus by Goldman Sachs offers a solid APY of 3.65% without direct deposit requirements, while Varo Bank provides a higher APY of 5.00% but mandates a $1,000 monthly direct deposit. Both banks are online-only, with Varo Bank having better App Store and Google Play ratings. However, Marcus has a superior BBB rating of A+ compared to Varo's A-. Overall, Varo Bank may appeal more to those who can meet the direct deposit requirement.
Compare Marcus by Goldman Sachs' vs Varo Bank's Savings Accounts
| Marcus by Goldman Sachs | Varo Bank | ||
|---|---|---|---|
| Product | Marcus Online Savings Account | vs | High-Yield Savings Account |
| APY | 3.65% (as of 9/18/2025) | 2.50% - 5.00% (as of 9/18/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. Min. $1,000/month | |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | ||
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.1/5 | 4.6/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 8 Months)
| Marcus by Goldman Sachs | Varo Bank | ||
|---|---|---|---|
| Product | Marcus Online Savings Account | vs | High-Yield Savings Account |
| Latest APY | 3.65 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.0 | 0.0 | |
| Rate Changes / Mo | 0.26 | 0.00 | |
| Days Since Last Change | 113 | 232 | |
| High (-8 m) | 3.90 % | 5.00 % | |
| Low (-8 m) | 3.65 % | 5.00 % | |
| Draw-down from High | -6.4 % | 0.0 % | |
| Volatility (CV) | 0.027 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-8 m)
- Highest APY in the last 233 days.
- Low (-8 m)
- Lowest APY in the last 233 days.
- Draw-down from High
- How far today sits below the 8-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Marcus by Goldman Sachs vs Varo Bank
All calculations are based on APY.
Marcus by Goldman Sachs
APY: 3.65%
Total savings breakdown:
- Interest earned: $2,209.7 (10.93%)
- Total contributions: $13,000 (64.33%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,209.70
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $20,209.7
Earnings: $2,209.7
Bank OverviewVaro Bank
APY: 5.00%
ℹ️You earn 5.00% on the first $5,000 and 2.50% on the rest.
Total savings breakdown:
- Interest earned: $2,211.4 (10.94%)
- Total contributions: $13,000 (64.32%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,211.40
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Marcus by Goldman Sachs's total earnings would be $1.7 lower than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Marcus by Goldman Sachs' APY of 3.65% with other banks
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.50% | $0 |
| Varo Bank vs American Express | 3.50% | $0 |
| Varo Bank vs Axos Bank | 4.46% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Barclays | 4.10% | $0 |
| Varo Bank vs BrioDirect | 4.30% | $5,000 |
| Varo Bank vs Capital One | 3.50% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 3.75% | $0 |
| Varo Bank vs CIT Bank | 4.00% | $100 |
| Varo Bank vs Discover Bank | 3.50% | $0 |
| Varo Bank vs Elevault | 4.60% | $0 |
| Varo Bank vs EverBank | 4.30% | $0 |
| Varo Bank vs Fitness Bank | 4.75% | $100 |
| Varo Bank vs FVCbank | 4.35% | $500 |
| Varo Bank vs GO2bank | 4.50% | $0 |
| Varo Bank vs Neighbors Bank | 4.60% | $0 |
| Varo Bank vs Newtek Bank | 4.35% | $0 |
| Varo Bank vs Peak Bank | 4.35% | $100 |
| Varo Bank vs Pibank | 4.60% | $0 |
| Varo Bank vs Presidential Bank | 4.50% | $5,000 |
| Varo Bank vs Santander Bank | 0.03% | $25 |
| Varo Bank vs SoFi Bank | 4.50% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |
| Varo Bank vs TIMBR | 4.40% | $1,000 |
| Varo Bank vs UFB Direct | 4.10% | $5000 |
| Varo Bank vs Wells Fargo | 2.51% | $25 |
| Varo Bank vs Zynlo Bank | 4.35% | $10 |