Marcus by Goldman Sachs vs. Varo Bank
Comparing Marcus by Goldman Sachs and Varo Bank for high-yield savings: Marcus by Goldman Sachs's Marcus Online Savings Account pays 3.65% APY while Varo Bank's High-Yield Savings Account pays 5.00% APY.
Note: Varo Bank caps its top rate at $5,000 and requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Varo Bank pays $10 more than Marcus by Goldman Sachs annually ($375 vs $365).
Choose Marcus by Goldman Sachs if you want a no-strings-attached account. Choose Varo Bank if you want Zelle for quick transfers.
Important Considerations
Watch out: Varo Bank's 5.00% APY only applies to the first $5,000. With a $10,000 balance, your effective rate drops to 3.75% APY ($375 annually).
At balances above $10,870, Marcus by Goldman Sachs earns more due to Varo Bank's APY cap.
Varo Bank requires a checking account to unlock its top savings rate, while Marcus by Goldman Sachs offers its savings account standalone.
| Metric | Marcus by Goldman SachsMarcus Online Savings Account Feb 6, 2026 | Varo BankHigh-Yield Savings Account Feb 6, 2026 |
|---|---|---|
| APY | 3.65% | 2.50% - 5.00% |
Est. Earnings | $5,000+$183 $10,000+$365 $25,000+$912 | $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 MinimumsGreat iOS AppGreat Android AppDaily CompoundingStable Rate | 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 Marcus by Goldman Sachs vs. Varo Bank
Executive Summary
Varo Bank's High-Yield Savings Account offers a competitive 5.00% APY on balances up to $5,000, making it the standout option compared to Marcus by Goldman Sachs's Marcus Online Savings Account, which provides a 3.65% APY. However, to earn the higher rate with Varo, a bank account and a minimum direct deposit of $1,000 per month are required. For those seeking simplicity without account requirements, Marcus's offering is appealing, as it has no direct deposit requirement and no caps on deposits, making it a solid secondary choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Marcus by Goldman Sachs?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.9 vs 4.6)
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.65%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $25,000
Marcus by Goldman SachsMarcus by Goldman Sachs's Marcus Online Savings Account pulls ahead with larger amounts (approx. $912 vs $750/yr).
Best for Simplicity
Marcus by Goldman SachsMarcus by Goldman Sachs's Marcus Online Savings Account offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $10 more interest on a $10,000 balance than Marcus by Goldman Sachs's Marcus Online 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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Marcus by Goldman Sachs vs. Varo Bank Savings Calculator
You earn $10 more with Varo Bank than Marcus by Goldman Sachs 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.
Marcus by Goldman Sachs
Marcus Online Savings Account
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
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 $364 per year in interest.
Both Marcus by Goldman Sachs and Varo Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Marcus by Goldman Sachs | Varo Bank |
|---|---|---|
| APY | 3.65% Verified: 2/6/2026 Stable (90d) | 5.00% Range: 2.50% - 5.00% Verified: 2/6/2026 Stable (90d) |
| Product Name | Marcus Online Savings Account | 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 | N/A | 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 | - | 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 Marcus by Goldman Sachs 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 | Marcus by Goldman Sachs | Varo Bank |
|---|---|---|
| Marcus Online Savings Account | High-Yield Savings Account | |
Current APY | 3.65% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.8 | 0.0 |
Days Since Change | 254 | 365 |
12-Month High | 3.90% | 5.00% |
12-Month Low | 3.65% | 5.00% |
Adjustments / Mo | 0.16 | 0.00 |
Volatility Score | 0.022 | 0.000 |
How to read these metrics(Click to expand)
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