PNC vs. Varo Bank
PNC's PNC High Yield Savings pays 3.15% APY while Varo Bank's High-Yield Savings Account pays 3.75% APY.
Note: Varo Bank's High-Yield Savings Account also needs 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 $60 more than PNC annually ($375 vs $315).
Choose PNC if you want a no-strings-attached account, or you value in-person banking. Choose Varo Bank if getting the best rate matters most.
Important Considerations
Varo Bank's High-Yield Savings Account pays its top rate only if you also open a checking account with Varo Bank, while PNC's PNC High Yield Savings stands alone.
| Metric | PNCPNC High Yield Savings Aug 22, 2026 | Varo BankHigh-Yield Savings Account Aug 19, 2026 |
|---|---|---|
| APY | 3.15% | 3.75% |
Est. Earnings | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$187 $10,000+$375 $25,000+$937 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive 3.75% APY, which is higher than PNC's PNC High Yield Savings at 3.15%. However, to earn this rate, customers must have a Varo bank account and set up a direct deposit of at least $1,000 per month. Additionally, Varo's APY applies to the first $5,000, with a lower rate of 1.00% on amounts above that. In contrast, PNC's product has no direct deposit requirement and is available to customers in select states, making it a simpler option for those who may not meet Varo's conditions.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why PNC?
- ✓No checking account or direct deposit required
- ✓Physical branch access (Multiple branches in AL, AZ, CA, CO, DE, DC, FL, GA, IL, IN, KS, KY, MD, MA, MI, MO, NJ, NM, NY, NC, OH, PA, SC, TN, TX, VA, WV, WI)
Why Varo Bank?
- ✓Higher potential APY (3.75% vs 3.15%) on all balances
- ✓Available Nationwide
Key Feature Differences
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $315/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $937 vs $788/yr).
Best for Simplicity
PNCPNC's PNC High Yield Savings offers 3.15% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
Varo BankVaro Bank's High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $60 more interest on a $10,000 balance than PNC's PNC High Yield Savings.
*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
Top Market Contenders
PNC vs. Varo Bank Savings Calculator
You earn $60 more with Varo Bank than PNC 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.
PNC
PNC High Yield Savings
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
Varo Bank
High-Yield Savings Account
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 $314 per year in interest.
Both PNC and Varo Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | PNC | Varo Bank |
|---|---|---|
| APY | 3.15% Verified: 8/22/2026 ↘︎ 0.10%90d Change | 3.75% Verified: 8/19/2026 ↘︎ 1.25%90d Change |
| Product Name | PNC High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $1 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 2,418 (AL, AZ, CA, CO, DC, DE, FL, GA (+20 more)) | 1 (UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayCentral to Virtual Wallet suite. | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | A |
| Important Notes | Eligibility restricted to select states. | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Next Steps | Visit SiteVerify at PNC 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 | PNC | Varo Bank | |
|---|---|---|---|
| PNC High Yield Savings | Standard Savings | High-Yield Savings Account | |
Current APY | 3.15% | 0.03% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -12.8 | -0.0 | -5.8 |
Days Since Change | 67 | 362 | 24 |
12-Month High | 3.95% | 0.03% | 5.00% |
12-Month Low | 3.15% | 0.03% | 3.75% |
Adjustments / Mo | 0.49 | 0.00 | 0.08 |
Volatility Score | 0.070 | 0.000 | 0.037 |
How to read these metrics(Click to expand)
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Compare PNC's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| PNC vs Ally Bank | 3.00% | $0 |
| PNC vs American Express | 3.00% | $0 |
| PNC vs Axos Bank | 4.21% | $0 |
| PNC vs Barclays | 3.65% | $0 |
| PNC vs Capital One | 3.50% | $0 |
| PNC vs Chime | 3.75% | $0 |
| PNC vs CIT Bank | 3.75% | $100 |
| PNC vs EverBank | 3.90% | $0 |
| PNC vs Marcus by Goldman Sachs | 3.40% | $0 |
| PNC vs Newtek Bank | 4.20% | $100 |
| PNC vs Openbank | 3.80% | $500 |
| PNC vs Pibank | 4.10% | $0 |
| PNC vs SoFi Bank | 3.80% | $0 |
| PNC vs Synchrony Bank | 3.30% | $0 |
| PNC vs Wealthfront | 3.95% | $0 |