Presidential Bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Presidential BankAdvantage Savings Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 3.25% - 3.75% | 2.50% - 5.00% |
Est. Earnings | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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 InsuredMod. MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDirect Deposit ReqChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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Comparison Analysis
Comparing Presidential Bank vs. Varo Bank
As of both Presidential Bank (Advantage Savings) and Varo Bank (High-Yield Savings Account) offer an APY of 3.75% .
Both banks yield $375 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
Why Presidential Bank?
- ✓Physical branch access (10 locations in Maryland, Virginia and Washington D.C.)
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 3.75%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated Android app (4.6 vs 4.2)
— Key Feature Differences —
Better Returns at $25,000
Presidential BankPresidential Bank's Advantage Savings pulls ahead with larger amounts (approx. $938 vs $750/yr).
Requires Banking Relationship
Both banks require a checking account bundle and qualifying requirements to access their highest rates.
Shared Benefits
Executive Summary as of
Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00%, applicable on balances up to $5,000, while any amount above that earns 2.50%. To qualify for this rate, customers must set up a Varo bank account and have a minimum direct deposit of $1,000 per month. In comparison, Presidential Bank's Advantage Savings provides a lower APY of 3.75%, which requires a monthly direct deposit of $500 into an Advantage Checking Account and a minimum deposit of $5,000. Both accounts have no maintenance fees and are FDIC insured, but Varo operates online only.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Presidential Bank vs. Varo Bank Savings Calculator
Both accounts earn exactly the same amount.
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
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.
| Feature | Presidential Bank | Varo Bank |
|---|---|---|
| APY | 3.75% Range: 3.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.75%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 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 Android4.2 | iOS4.9 Android4.6 |
| Zelle® Support | Available Native integration; Advantage Savings supports Zelle. | Available Requires history of qualifying direct deposits. |
| 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 | Visit SiteVerify at Presidential Bank 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 | Presidential Bank | Varo Bank |
|---|---|---|
| Advantage Savings | High-Yield Savings Account | |
Current APY | 3.75% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -5.4 | 0.0 |
Days Since Change | 35 | 365 |
12-Month High | 4.50% | 5.00% |
12-Month Low | 3.75% | 5.00% |
Adjustments / Mo | 0.25 | 0.00 |
Volatility Score | 0.063 | 0.000 |
How to read these metrics(Click to expand)
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