PNC vs. Varo Bank
Comparing PNC and Varo Bank for high-yield savings: PNC's PNC High Yield Savings pays 3.25% 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 $50 more than PNC annually ($375 vs $325).
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
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 $16,667, PNC earns more due to Varo Bank's APY cap.
Varo Bank requires a checking account to unlock its top savings rate, while PNC offers its savings account standalone.
| Metric | PNCPNC High Yield Savings Apr 7, 2026 | Varo BankHigh-Yield Savings Account Apr 6, 2026 |
|---|---|---|
| APY | 3.25% | 2.50% - 5.00% |
Est. Earnings | $5,000+$163 $10,000+$325 $25,000+$813 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | 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 AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingStable Rate |
Executive Summary
Varo Bank's High-Yield Savings Account offers a significantly higher APY of 5.00%, making it the standout choice for savers, especially for balances up to $5,000, after which the rate drops to 2.50%. However, it requires a Varo bank account and a minimum direct deposit of $1,000 per month. In comparison, PNC's High Yield Savings provides a competitive 3.25% APY with no direct deposit requirement, but is limited to select states. PNC also offers a Standard Savings account with a lower APY of 0.03%, but the High Yield option is the primary focus. Overall, Varo Bank is the winner based on the provided data.
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 (5.00% vs 3.25%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓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 $325/yr).
Better Returns at $25,000
PNCPNC's PNC High Yield Savings pulls ahead with larger amounts (approx. $813 vs $750/yr).
Best for Simplicity
PNCPNC's PNC High Yield Savings offers 3.25% 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 $50 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 $50 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+$325.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,325.00
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 $324 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 | 3.25% Verified: 4/7/2026 ↘︎ 0.05%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 4/6/2026 Stable (90d) |
| Product Name | PNC High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 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 | None |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC 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 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 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 | 3.25% | 0.03% | 5.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -7.8 | 0.1 | 0.0 |
Days Since Change | 31 | 340 | 364 |
12-Month High | 3.95% | 0.03% | 5.00% |
12-Month Low | 3.25% | 0.01% | 5.00% |
Adjustments / Mo | 0.41 | 0.08 | 0.00 |
Volatility Score | 0.082 | 0.164 | 0.000 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare PNC vs...
Comparing against Standard Savings
Compare Varo Bank vs...
Comparing against other Bundled Accounts
More Comparisons
Compare PNC's APY of 3.25% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| PNC vs Ally Bank | 3.20% | $0 |
| PNC vs American Express | 3.20% | $0 |
| PNC vs Axos Bank | 4.21% | $0 |
| PNC vs Barclays | 3.85% | $0 |
| PNC vs Capital One | 3.20% | $0 |
| PNC vs Chime | 3.00% | $0 |
| PNC vs CIT Bank | 3.75% | $100 |
| PNC vs Discover Bank | 3.30% | $0 |
| PNC vs EverBank | 3.90% | $0 |
| PNC vs Marcus by Goldman Sachs | 3.65% | $0 |
| PNC vs Newtek Bank | 4.20% | $0.01 |
| PNC vs Openbank | 4.00% | $500 |
| PNC vs Pibank | 4.60% | $0 |
| PNC vs SoFi Bank | 4.00% | $0 |
| PNC vs Synchrony Bank | 3.50% | $0 |
| PNC vs Wealthfront | 4.20% | $0 |