Pibank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | PibankPibank Savings Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 4.60% | 2.50% - 5.00% |
Est. Earnings | $5,000+$230 $10,000+$460 $25,000+$1,150 | $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.
As of Pibank offers an APY of 4.60% for its Pibank Savings account, with a minimum balance of $0.01, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Pibank pays $85 more than Varo Bank on a $10,000 balance after one year. Pibank pays $460, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Pibank.
Why Pibank?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.60%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated iOS app (4.9 vs 2.3)
- ✓Higher rated Android app (4.6 vs 1.7)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
PibankPibank's Pibank Savings earns more on smaller deposits (approx. $460 vs $375/yr).
Better Returns at $25,000
PibankPibank's Pibank Savings pulls ahead with larger amounts (approx. $1150 vs $750/yr).
Best for Simplicity
PibankPibank's Pibank Savings offers 4.60% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 2.3) and Android app rated 4.6 (vs. 1.7)
Shared Benefits
Over a 1-year period, Pibank's Pibank Savings pays $85 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
Pibank offers a competitive savings option with its Pibank Savings account, providing a solid APY of 4.60% with no direct deposit requirement and no maintenance fees, making it a straightforward choice for savers. In contrast, Varo Bank's High-Yield Savings Account boasts a higher APY of 5.00% but requires a Varo bank account and a minimum direct deposit of $1,000 per month to earn this rate, capping at $5,000; beyond that, the APY drops to 2.50%. Both accounts are online-only and have no minimum deposit requirements, but Pibank may appeal to those seeking simplicity without the need for direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Pibank vs. Varo Bank Savings Calculator
You earn $85 more with Pibank 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.
Pibank
Pibank Savings
Savings Breakdown
- Interest Earned+$460.00(4.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,460.00
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 | Pibank | Varo Bank |
|---|---|---|
| APY | 4.60% Verified: 1/21/2026 Stable (90d) | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 Stable (90d) |
| Product Name | Pibank Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $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 | iOS2.3 Android1.7 | 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 Pibank 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 | Pibank | Varo Bank |
|---|---|---|
| Pibank Savings | High-Yield Savings Account | |
Current APY | 4.60% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | 0.0 |
Days Since Change | 341 | 336 |
11-Month High | 4.60% | 5.00% |
11-Month Low | 4.60% | 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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