TIMBR vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | TIMBRPremium Savings Account Jan 21, 2026 | Varo BankHigh-Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 4.15% | 2.50% - 5.00% |
Est. Earnings | $5,000+$208 $10,000+$415 $25,000+$1,038 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $1,000 | $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 InsuredLow Minimums | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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.
As of TIMBR offers an APY of 4.15% for its Premium 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.
TIMBR pays $40 more than Varo Bank on a $10,000 balance after one year. TIMBR pays $415, while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for TIMBR.
Why TIMBR?
- ✓No checking account or direct deposit required
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.15%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated iOS app (4.9 vs 0.0)
- ✓Higher rated Android app (4.6 vs 0.0)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
TIMBRTIMBR's Premium Savings Account earns more on smaller deposits (approx. $415 vs $375/yr).
Better Returns at $25,000
TIMBRTIMBR's Premium Savings Account pulls ahead with larger amounts (approx. $1038 vs $750/yr).
Best for Simplicity
TIMBRTIMBR's Premium Savings Account offers 4.15% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 0.0) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, TIMBR's Premium Savings Account pays $40 more interest on a $10,000 balance than Varo Bank's High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Varo Bank's High-Yield Savings Account offers a competitive 5.00% APY on deposits up to $5,000, with a lower rate of 2.50% for amounts exceeding that limit. However, this account requires a Varo bank account and a minimum direct deposit of $1,000 per month. In contrast, TIMBR's Premium Savings Account provides a straightforward 4.15% APY with no direct deposit requirement or caps, making it a simpler option for savers. Both accounts are online-only and come with no maintenance fees, but the eligibility restrictions for Varo may limit its appeal compared to TIMBR.
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
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TIMBR vs. Varo Bank Savings Calculator
You earn $40 more with TIMBR than Varo 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.
TIMBR
Premium Savings Account
Savings Breakdown
- Interest Earned+$415.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,415.00
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 | TIMBR | Varo Bank |
|---|---|---|
| APY | 4.15% Verified: 1/21/2026 ↘︎ 0.25%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/21/2026 Stable (90d) |
| Product Name | Premium Savings Account | High-Yield Savings Account |
| Minimum Deposit | $1,000 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS- Android- | iOS4.9 Android4.6 |
| Zelle® Support | Not Supported | 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 TIMBR 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 | TIMBR | Varo Bank |
|---|---|---|
| Premium Savings Account | High-Yield Savings Account | |
Current APY | 4.15% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.6 | 0.0 |
Days Since Change | 13 | 335 |
11-Month High | 4.55% | 5.00% |
11-Month Low | 4.15% | 5.00% |
Adjustments / Mo | 0.18 | 0.00 |
Volatility Score | 0.018 | 0.000 |
How to read these metrics(Click to expand)
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