High-Yield Savings Account Comparison

Synchrony Bank vs. Varo Bank

Compare rates, requirements, and features side-by-side to find the best option for you.

Analysis by Aviel Fahl
Updated December 17, 2025

Synchrony Bank

High Yield Savings

3.65%
APY
Dec 17, 2025
FDIC InsuredNo MinimumsGreat iOS AppGreat Android App
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0
Maintenance Fee$0
Compound FreqDaily
Direct DepositNot required
Deposit InsuranceFDIC Insured(Cert: 27314)
EligibilityUnited States
Mobile Ratings
iOS:4.8Android:4.4
BBB Rating
Not Rated(Not BBB Accredited)

Rate Stability

Rate Adjusted
-0.15%
Since 30 days ago
Read Bank Overview

Varo Bank

High-Yield Savings Account

Up to
5.00%
APY
Dec 16, 2025
FDIC InsuredDirect Deposit ReqChecking BundleNo MinimumsGreat iOS AppGreat Android App
Range: 2.50% – 5.00%
Show Fine Print & Trends
Min. Deposit$0
Min. Balance$0.01
Maintenance Fee$0
Compound FreqDaily
Direct DepositRequired (Min. $1,000/month)
Deposit InsuranceFDIC Insured(Cert: 59190)
EligibilityUnited States
Mobile Ratings
iOS:4.9Android:4.6
BBB Rating
A(BBB Accredited)

Important Note

Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required.

Rate Stability

Very StableNo rate changes in last 90 days
Read Bank Overview

Comparison Analysis

Comparing Synchrony Bank vs. Varo Bank

Updated: Dec 17, 2025

As of Synchrony Bank offers an APY of 3.65% for its High Yield Savings account, with a minimum balance of $0, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.

Varo Bank pays $10 more than Synchrony Bank on a $10,000 balance after one year. Synchrony Bank pays $365, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.

Why Synchrony Bank?

  • ✓No checking account or direct deposit required

Why Varo Bank?

  • ✓Higher potential APY (5.00% vs 3.65%) on balances up to $5,000 (requires checking bundle & direct deposit)

— Key Feature Differences —

Better Returns at $25,000
Synchrony Bank

Synchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $750/yr).

Best for Simplicity
Synchrony Bank

Synchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.

Shared Benefits

Both offer monthly maintenance-free account options Both banks have options with $0 opening deposit Available Nationwide Available to New & Existing Customers
The Bottom Line on APY (Interest Only)

Over a 1-year period, Varo Bank's High-Yield Savings Account pays $10 more interest on a $10,000 balance than Synchrony Bank's High Yield Savings.

*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.

Synchrony BankVaro Bank
Automated Data Audit

Executive Summary

Varo Bank offers a High-Yield Savings Account with a competitive 5.00% APY on balances up to $5,000, with a lower rate of 2.50% on amounts above that cap. However, to qualify for this rate, customers must have a Varo bank account and set up a direct deposit of at least $1,000 per month. In contrast, Synchrony Bank provides a High Yield Savings account with a solid 3.65% APY, requiring no direct deposit or account bundling, making it a simpler option. Both banks operate online only and have no maintenance fees, but Varo's higher yield is contingent on meeting specific conditions.

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.

ExploreSynchrony BankExploreVaro Bank

Prefer In-Person Banking?

Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.

Find Branch Access

Synchrony Bank vs. Varo Bank Savings Calculator

Calculations based on current APY for High Yield Savings and High-Yield Savings Account
$
$

You earn $10 more with Varo Bank than Synchrony Bank 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.

Synchrony Bank

High Yield Savings

3.65% APY

Savings Breakdown

  • Interest Earned
    +$365.00(3.5%)
  • Total Contributions
    $0
  • Initial Deposit
    $10,000

Projected Balance

$10,365.00

Effective APY
3.65%
View Details

Varo Bank

High-Yield Savings Account

5.00% APY

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

Effective APY
3.75%
View Details

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

FeatureSynchrony BankVaro Bank
APY
3.65%
Verified: 12/17/2025
↘︎ 0.15%90d Change
5.00%
Range: 2.50% - 5.00%
Verified: 12/16/2025
Stable (90d)
Product NameHigh Yield SavingsHigh-Yield Savings Account
Minimum Deposit$0$0
Min. Balance for APY$0$0.01
Monthly Fee$0$0
Branch AccessNoneNone
Account Type
Online Only
Online Only
Direct Deposit Req.None
RequiredMin. $1,000/month
Checking BundleNo Yes
Mobile Apps
iOS4.8
Android4.4
iOS4.9
Android4.6
BBB RatingNot RatedA
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
- View Details
- View Details

📈 Compare Savings Rates Over Time

Historical Performance

Last 11 Months Analysis
MetricSynchrony BankVaro Bank
High Yield SavingsHigh-Yield Savings Account
Current APY
3.65%5.00%
Trend
 Stable Stable
Velocity (bps/mo)
-3.50.0
Days Since Change
29329
11-Month High
4.10%5.00%
11-Month Low
3.65%5.00%
Adjustments / Mo
0.270.00
Volatility Score
0.0330.000
How to read these metrics(Click to expand)

Trends & Velocity

  • Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
  • Velocity (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
  • Adjustments/Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

  • High/Low: The absolute ceiling and floor of the rate during the 330-day window.
  • Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
  • Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Compare Similar Alternatives

Compare Synchrony Bank vs...

Comparing against Standard Savings

vs Synchrony Bank
PibankNo Bundle Req
4.60%
APY
vs Synchrony Bank
TIMBRNo Bundle Req
4.40%
APY
vs Synchrony Bank
Newtek BankNo Bundle Req
4.35%
APY

Compare Varo Bank vs...

Comparing against other Bundled Accounts

vs Varo Bank
Axos BankChecking Bundle
4.31%
APY
vs Varo Bank
SoFi BankChecking Bundle
4.30%
APY
vs Varo Bank
Presidential BankChecking Bundle
3.75%
APY

More Comparisons

Compare Synchrony Bank's APY of 3.65% with other banks
Bank PairCompetitor APYMin Deposit
Synchrony Bank vs Affirm3.60%$0
Synchrony Bank vs Ally Bank3.30%$0
Synchrony Bank vs American Express3.40%$0
Synchrony Bank vs Axos Bank4.31%$0
Synchrony Bank vs Bank of America0.01%$100
Synchrony Bank vs Barclays4.00%$0
Synchrony Bank vs Bask Bank3.90%$0
Synchrony Bank vs Betterment3.25%$10
Synchrony Bank vs BMO Alto3.25%$0
Synchrony Bank vs Bread Savings4.10%$100
Synchrony Bank vs BrioDirect3.75%$5,000
Synchrony Bank vs Capital One3.40%$0
Synchrony Bank vs Charles Schwab Bank0.15%$0
Synchrony Bank vs Chase Bank0.01%$0
Synchrony Bank vs Chime3.50%$0
Synchrony Bank vs CIT Bank3.75%$100
Synchrony Bank vs Citibank3.30%$0
Synchrony Bank vs Citizens Access™3.15%$0.01
Synchrony Bank vs Climate First Bank4.21%$50
Synchrony Bank vs Discover Bank3.40%$0
Synchrony Bank vs E*TRADE from Morgan Stanley3.50%$0
Synchrony Bank vs Elevault3.82%$0
Synchrony Bank vs EverBank4.05%$0
Synchrony Bank vs Fitness Bank4.75%$100
Synchrony Bank vs FNBO Direct3.00%$1
Synchrony Bank vs Forbright Bank4.00%$0
Synchrony Bank vs FVCbank3.85%$500
Synchrony Bank vs GO2bank4.50%$0
Synchrony Bank vs Ivy Bank4.10%$2,500
Synchrony Bank vs LendingClub4.00%$0
Synchrony Bank vs Marcus by Goldman Sachs3.65%$0
Synchrony Bank vs Neighbors Bank4.30%$0
Synchrony Bank vs Newtek Bank4.35%$0.01
Synchrony Bank vs Openbank4.20%$500
Synchrony Bank vs Peak Bank4.20%$100
Synchrony Bank vs Pibank4.60%$0
Synchrony Bank vs PNC3.30%$0
Synchrony Bank vs Presidential Bank3.75%$5,000
Synchrony Bank vs Quontic Bank3.75%$100
Synchrony Bank vs Salem Five Direct3.61%$10
Synchrony Bank vs Sallie Mae Bank3.90%$0
Synchrony Bank vs Santander Bank0.01%$25
Synchrony Bank vs SoFi Bank4.30%$0
Synchrony Bank vs TD Bank2.75%$0
Synchrony Bank vs TIMBR4.40%$1,000
Synchrony Bank vs UFB Direct3.60%$5000
Synchrony Bank vs Upgrade3.05%$0
Synchrony Bank vs Valley Direct4.00%$1,000
Synchrony Bank vs Vio Bank4.16%$100
Synchrony Bank vs Wealthfront4.15%$0
Synchrony Bank vs Wells Fargo0.05%$25
Synchrony Bank vs Zynlo Bank4.05%$10
Compare Varo Bank's APY of 5.00% with other banks
Bank PairCompetitor APYMin Deposit
Varo Bank vs Affirm3.60%$0
Varo Bank vs Ally Bank3.30%$0
Varo Bank vs American Express3.40%$0
Varo Bank vs Axos Bank4.31%$0
Varo Bank vs Bank of America0.01%$100
Varo Bank vs Barclays4.00%$0
Varo Bank vs Bask Bank3.90%$0
Varo Bank vs Betterment3.25%$10
Varo Bank vs BMO Alto3.25%$0
Varo Bank vs Bread Savings4.10%$100
Varo Bank vs BrioDirect3.75%$5,000
Varo Bank vs Capital One3.40%$0
Varo Bank vs Charles Schwab Bank0.15%$0
Varo Bank vs Chase Bank0.01%$0
Varo Bank vs Chime3.50%$0
Varo Bank vs CIT Bank3.75%$100
Varo Bank vs Citibank3.30%$0
Varo Bank vs Citizens Access™3.15%$0.01
Varo Bank vs Climate First Bank4.21%$50
Varo Bank vs Discover Bank3.40%$0
Varo Bank vs E*TRADE from Morgan Stanley3.50%$0
Varo Bank vs Elevault3.82%$0
Varo Bank vs EverBank4.05%$0
Varo Bank vs Fitness Bank4.75%$100
Varo Bank vs FNBO Direct3.00%$1
Varo Bank vs Forbright Bank4.00%$0
Varo Bank vs FVCbank3.85%$500
Varo Bank vs GO2bank4.50%$0
Varo Bank vs Ivy Bank4.10%$2,500
Varo Bank vs LendingClub4.00%$0
Varo Bank vs Marcus by Goldman Sachs3.65%$0
Varo Bank vs Neighbors Bank4.30%$0
Varo Bank vs Newtek Bank4.35%$0.01
Varo Bank vs Openbank4.20%$500
Varo Bank vs Peak Bank4.20%$100
Varo Bank vs Pibank4.60%$0
Varo Bank vs PNC3.30%$0
Varo Bank vs Presidential Bank3.75%$5,000
Varo Bank vs Quontic Bank3.75%$100
Varo Bank vs Salem Five Direct3.61%$10
Varo Bank vs Sallie Mae Bank3.90%$0
Varo Bank vs Santander Bank0.01%$25
Varo Bank vs SoFi Bank4.30%$0
Varo Bank vs TD Bank2.75%$0
Varo Bank vs TIMBR4.40%$1,000
Varo Bank vs UFB Direct3.60%$5000
Varo Bank vs Upgrade3.05%$0
Varo Bank vs Valley Direct4.00%$1,000
Varo Bank vs Vio Bank4.16%$100
Varo Bank vs Wealthfront4.15%$0
Varo Bank vs Wells Fargo0.05%$25
Varo Bank vs Zynlo Bank4.05%$10