Presidential Bank vs. Varo Money
High-Yield Savings Account Comparison
Last Updated: October 15, 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 | 4.50% Advantage Savings | 5.00% High-Yield Savings Account |
| Minimum to Open | $5,000 | $0 |
| Minimum Balance for APY | N/A | $0.01 |
Presidential Bank
Strengths
- Presidential Bank offers a competitive APY of 4.50%, unchanged from 30 days ago.
- The Advantage Savings account has no maintenance fees.
- Presidential Bank has 10 physical branches across Maryland, Virginia, and Washington D.C.
Potential Drawbacks
- To earn the higher APY, a $500 monthly direct deposit into an Advantage Checking Account is required.
- Presidential Bank is not BBB Accredited despite an A- rating.
- The app ratings are lower than Varo Bank's.
Varo Bank
Strengths
- Varo Bank provides a higher APY of 5.00%, consistent over the last month.
- The High-Yield Savings Account has no minimum deposit requirement.
- Varo Bank is BBB Accredited, also holding an A- rating.
Potential Drawbacks
- Varo Bank has no physical branches, operating exclusively online.
- To earn the higher APY, a $1,000 monthly direct deposit is necessary.
- The account offers a lower APY of 2.50% on balances over $5,000.
Summary: Varo Bank offers a higher APY of 5.00% with no minimum deposit, but requires a $1,000 monthly direct deposit. Presidential Bank's APY is 4.50% with a $500 direct deposit requirement and has physical branches. Both banks have an A- BBB rating, but only Varo Bank is BBB Accredited. Presidential Bank has lower app ratings compared to Varo Bank.
→ As of October 15, 2025 Presidential Bank offers an APY of 4.50% 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 $75 more than Varo Bank on a $10,000 balance after one year. Presidential Bank pays $450, 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
All calculations are based on APY.
Presidential Bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewVaro Bank
APY: 5.00%
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
Effective APY: 3.65% (based on your deposit and contributions)
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 $548.7 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 | 4.00% - 4.50% (as of 10/15/2025) | 2.50% - 5.00% (as of 10/15/2025) | |
| 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 | 4.2/5 | 4.6/5 | |
| BBB Rating | A- | A- |
Comparative Historical APY Insights (Last 10 Months)
| Presidential Bank | Varo Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High-Yield Savings Account |
| Latest APY | 4.50 % | 5.00 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 300 | 300 | |
| High (-10 m) | 4.50 % | 5.00 % | |
| Low (-10 m) | 4.50 % | 5.00 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 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 (-10 m)
- Highest APY in the last 302 days.
- Low (-10 m)
- Lowest APY in the last 302 days.
- Draw-down from High
- How far today sits below the 10-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.
More Comparisons
Compare Presidential Bank's APY of 4.50% with other banks
Compare Varo Bank's APY of 5.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Varo Bank vs Ally Bank | 3.40% | $0 |
| Varo Bank vs American Express | 3.50% | $0 |
| Varo Bank vs Axos Bank | 4.51% | $0 |
| Varo Bank vs Bank of America | 0.01% | $100 |
| Varo Bank vs Barclays | 4.10% | $0 |
| Varo Bank vs BrioDirect | 4.20% | $5,000 |
| Varo Bank vs Capital One | 3.40% | $0 |
| Varo Bank vs Chase Bank | 0.01% | $0 |
| Varo Bank vs Chime | 3.75% | $0 |
| Varo Bank vs CIT Bank | 3.85% | $100 |
| Varo Bank vs Discover Bank | 3.40% | $0 |
| Varo Bank vs Elevault | 4.34% | $0 |
| Varo Bank vs EverBank | 4.05% | $0 |
| Varo Bank vs Fitness Bank | 4.75% | $100 |
| Varo Bank vs FVCbank | 4.10% | $500 |
| Varo Bank vs GO2bank | 4.50% | $0 |
| Varo Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Varo Bank vs Neighbors Bank | 4.50% | $0 |
| Varo Bank vs Newtek Bank | 4.35% | $0 |
| Varo Bank vs Peak Bank | 4.20% | $100 |
| Varo Bank vs Pibank | 4.60% | $0 |
| Varo Bank vs Santander Bank | 0.01% | $25 |
| Varo Bank vs SoFi Bank | 4.50% | $0 |
| Varo Bank vs Synchrony Bank | 3.80% | $0 |
| Varo Bank vs TIMBR | 4.40% | $1,000 |
| Varo Bank vs UFB Direct | 3.96% | $5000 |
| Varo Bank vs Wells Fargo | 0.05% | $25 |
| Varo Bank vs Zynlo Bank | 4.20% | $10 |