Presidential Bank vs. Varo Money
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Presidential Bank vs. Varo Bank
Key Metrics at a Glance
| Feature | Presidential Bank | Varo Bank |
|---|---|---|
| Top Savings APY | 4.25% Advantage Savings | 5.00% High-Yield Savings Account |
| Minimum to Open | $5,000 | $0 |
| Minimum Balance for Top APY | N/A | $0.01 |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. |
Presidential Bank
Strengths
- Presidential Bank has 10 branches in Maryland, Virginia, and Washington D.C.
- Advantage Savings offers a competitive APY of 4.25%, despite a recent decrease from 4.50%.
- No maintenance fees on the Advantage Savings account.
Potential Drawbacks
- The Advantage Savings account requires a monthly direct deposit of $500 to earn the higher APY.
- Presidential Bank's BBB rating is A- but not BBB Accredited.
- The App Store rating is lower at 4.8 compared to Varo Bank.
Varo Bank
Strengths
- Varo Bank offers a higher APY of 5.00% on the High-Yield Savings Account.
- The High-Yield Savings Account has no minimum deposit requirement.
- Varo Bank has an excellent App Store rating of 4.9.
Potential Drawbacks
- Varo Bank is online-only with no physical branches.
- Direct deposit of $1,000/month is required to earn the listed APY.
- The lower APY for balances above $5,000 is 2.50%.
→ As of November 12, 2025 Presidential Bank offers an APY of 4.25% for its Advantage Savings account, with a minimum balance of N/A, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
→ Presidential Bank yields $50 more than Varo Bank on a $10,000 balance after one year. Presidential Bank pays $425, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Presidential Bank.
Calculate Savings Growth for Presidential Bank vs Varo Bank
Presidential Bank - Advantage Savings
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewVaro Bank - High-Yield Savings Account
ℹ️You earn 5.00% on the first $5,000 and 2.50% on the rest.
Total savings breakdown:
- Interest earned: $2,211.4 (10.94%)
- Total contributions: $13,000 (64.32%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,211.40
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Presidential Bank's total earnings would be $385.4 higher than Varo Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Presidential Bank's vs Varo Bank's Savings Accounts
| Presidential Bank | Varo Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High-Yield Savings Account |
| APY | 3.75% - 4.25% (as of 11/12/2025) | 2.50% - 5.00% (as of 11/12/2025) | |
| Bundled Account | Yes | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $5,000 | $0 | |
| Minimum Balance for APY | N/A | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | Yes. To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. | Yes. Min. $1,000/month | |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | ||
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.1/5 | 4.6/5 | |
| BBB Rating | A- | A |
Comparative Historical APY Insights (Last 11 Months)
| Presidential Bank | Varo Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High-Yield Savings Account |
| Latest APY | 4.25 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.4 | 0.0 | |
| Rate Changes / Mo | 0.09 | 0.00 | |
| Days Since Last Change | 7 | 329 | |
| High (-11 m) | 4.50 % | 5.00 % | |
| Low (-11 m) | 4.25 % | 5.00 % | |
| Draw-down from High | -5.6 % | 0.0 % | |
| Volatility (CV) | 0.010 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 11 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-11 m)
- Highest APY in the last 330 days.
- Low (-11 m)
- Lowest APY in the last 330 days.
- Draw-down from High
- How far today sits below the 11-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.