Varo Bank vs. Vio Bank
Comparing Varo Bank and Vio Bank for high-yield savings: Varo Bank's High-Yield Savings Account pays 5.00% APY while Vio Bank's Online Savings Account pays 4.03% APY.
Note: Varo Bank caps its top rate at $5,000 and requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Vio Bank pays $28 more than Varo Bank annually ($403 vs $375).
Choose Varo Bank if you're an Android user, or you want Zelle for quick transfers. Choose Vio Bank if getting the best rate matters most, or you want a no-strings-attached account.
Important Considerations
Watch out: Varo Bank's 5.00% APY only applies to the first $5,000. With a $10,000 balance, your effective rate drops to 3.75% APY ($375 annually).
At balances above $8,170, Vio Bank earns more due to Varo Bank's APY cap.
Varo Bank requires a checking account to unlock its top savings rate, while Vio Bank offers its savings account standalone.
| Metric | Varo BankHigh-Yield Savings Account Feb 21, 2026 | Vio BankOnline Savings Account Feb 21, 2026 |
|---|---|---|
| APY | 2.50% - 5.00% | 4.03% |
Est. Earnings | $5,000+$250 $10,000+$375 $25,000+$750 | $5,000+$202 $10,000+$403 $25,000+$1,008 |
Min Deposit | $0 | $100 |
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 InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingStable Rate | FDIC InsuredLow MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
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.
Executive Summary
Varo Bank offers a High-Yield Savings Account with an impressive APY of 5.00% on balances up to $5,000, requiring a Varo bank account and a minimum direct deposit of $1,000 per month. For amounts exceeding this cap, the APY drops to 2.50%. In contrast, Vio Bank provides an Online Savings Account with a competitive APY of 4.03% and no direct deposit requirement, making it simpler for customers. While Varo Bank excels in mobile app experience, Vio Bank stands out for its straightforward terms and better returns on larger deposits. Both accounts are online-only and have no maintenance fees if conditions are met.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 4.03%) on balances up to $5,000 (requires checking bundle & direct deposit)
- ✓Higher rated Android app (4.6 vs 3.4)
- ✓Fast transfers via Zelle®
Why Vio Bank?
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Vio BankVio Bank's Online Savings Account earns more on smaller deposits (approx. $403 vs $375/yr).
Better Returns at $25,000
Vio BankVio Bank's Online Savings Account pulls ahead with larger amounts (approx. $1008 vs $750/yr).
Best for Simplicity
Vio BankVio Bank's Online Savings Account offers 4.03% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Varo BankVaro Bank offers an iOS app rated 4.9 (vs. 4.6) and Android app rated 4.6 (vs. 3.4)
Shared Benefits
Over a 1-year period, Vio Bank's Online Savings Account pays $28 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Varo Bank vs. Vio Bank Savings Calculator
You earn $28 more with Vio Bank 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.
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
Vio Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$403.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,403.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $374 per year in interest.
Both Varo Bank and Vio Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Varo Bank | Vio Bank |
|---|---|---|
| APY | 5.00% Range: 2.50% - 5.00% Verified: 2/21/2026 Stable (90d) | 4.03% Verified: 2/21/2026 ↘︎ 0.13%90d Change |
| Product Name | High-Yield Savings Account | Online Savings Account |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0, if electronic statements selected, otherwise $5 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | RequiredMin. $1,000/month | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Requires history of qualifying direct deposits. | Not Supported |
| 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 Varo Bank Non-sponsored link to official site | Visit SiteVerify at Vio Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Varo Bank | Vio Bank |
|---|---|---|
| High-Yield Savings Account | Online Savings Account | |
Current APY | 5.00% | 4.03% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -6.2 |
Days Since Change | 100 | 8 |
3-Month High | 5.00% | 4.21% |
3-Month Low | 5.00% | 4.02% |
Adjustments / Mo | 0.00 | 1.20 |
Volatility Score | 0.000 | 0.016 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Varo Bank vs...
Comparing against other Bundled Accounts
Compare Vio Bank vs...
Comparing against Standard Savings
More Comparisons
Compare Varo Bank's APY of 5.00% with other banks
Compare Vio Bank's APY of 4.03% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Vio Bank vs Ally Bank | 3.20% | $0 |
| Vio Bank vs American Express | 3.30% | $0 |
| Vio Bank vs Axos Bank | 4.21% | $0 |
| Vio Bank vs Bank of America | 0.01% | $100 |
| Vio Bank vs Barclays | 3.85% | $0 |
| Vio Bank vs Capital One | 3.30% | $0 |
| Vio Bank vs Chase Bank | 0.01% | $0 |
| Vio Bank vs Chime | 3.00% | $0 |
| Vio Bank vs CIT Bank | 3.75% | $100 |
| Vio Bank vs Citibank | 3.20% | $0 |
| Vio Bank vs Discover Bank | 3.30% | $0 |
| Vio Bank vs EverBank | 3.90% | $0 |
| Vio Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Vio Bank vs Newtek Bank | 4.20% | $0.01 |
| Vio Bank vs Openbank | 4.09% | $500 |
| Vio Bank vs Pibank | 4.60% | $0 |
| Vio Bank vs SoFi Bank | 4.00% | $0 |
| Vio Bank vs Synchrony Bank | 3.50% | $0 |
| Vio Bank vs Wealthfront | 3.95% | $0 |
| Vio Bank vs Wells Fargo | 0.05% | $25 |