Presidential Bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Presidential Bank
Advantage Savings
Up to4.00%APYDec 6, 2025FDIC InsuredMod. MinimumDirect Deposit ReqChecking BundleGreat iOS AppGreat Android AppIn-Person AccessRange: 3.50% – 4.00%Show Fine Print & Trends Hide Details
Presidential Bank
Advantage Savings
Varo Bank
High-Yield Savings Account
Up to5.00%APYDec 5, 2025FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android AppRange: 2.50% – 5.00%Show Fine Print & Trends Hide Details
Varo Bank
High-Yield Savings Account
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Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
Comparison Analysis
Comparing Presidential Bank vs. Varo Bank
Why Presidential Bank?
- ✓Physical branch access (10 locations in Maryland, Virginia and Washington D.C.)
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.00%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated Android app (4.6 vs 4.1)
— Key Feature Differences —
Better Returns at $10,000
Presidential BankPresidential Bank's Advantage Savings earns more on smaller deposits (approx. $400 vs $375/yr).
Better Returns at $25,000
Presidential BankPresidential Bank's Advantage Savings pulls ahead with larger amounts (approx. $1000 vs $750/yr).
Requires Banking Relationship
Both banks require a checking account bundle and qualifying requirements to access their highest rates.
Shared Benefits
Over a 1-year period, Presidential Bank's Advantage Savings pays $25 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.
Executive Summary
Varo Bank offers a competitive High-Yield Savings Account with an APY of 5.00% on balances up to $5,000, making it the higher-yield option compared to Presidential Bank's Advantage Savings, which has an APY of 4.00% but requires a minimum deposit of $5,000 and a monthly direct deposit of $500 into an Advantage Checking Account to earn that rate. Varo's account has no minimum deposit requirement and is online-only, while Presidential Bank's account is available through traditional banking channels. For amounts exceeding $5,000, Varo's APY drops to 2.50%.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
| Feature | Presidential Bank | Varo Bank |
|---|---|---|
| APY | 4.00% Range: 3.50% - 4.00% Verified: 12/6/2025 ↘︎ 0.50%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 12/5/2025 Stable (90d) |
| Product Name | Advantage Savings | High-Yield Savings Account |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | N/A | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | RequiredTo earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | RequiredMin. $1,000/month |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.8 Android4.1 | iOS4.9 Android4.6 |
| 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 |
Savings Comparison
Presidential Bank earns $223.3 more than Varo Bank.
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$2,434.70(11.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,434.70
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$2,211.40(10.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,211.40
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Presidential Bank | Varo Bank |
|---|---|---|
| Advantage Savings | High-Yield Savings Account | |
Current APY | 4.00% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.0 | 0.0 |
Days Since Change | 15 | 352 |
12-Month High | 4.50% | 5.00% |
12-Month Low | 4.00% | 5.00% |
Adjustments / Mo | 0.17 | 0.00 |
Volatility Score | 0.030 | 0.000 |
How to read these metrics(Click to expand)
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