Varo Money vs. Vio Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Varo Bank vs. Vio Bank
Key Metrics at a Glance
| Feature | Varo Bank | Vio Bank |
|---|---|---|
| Top Savings APY | 5.00% High-Yield Savings Account | 4.21% Online Savings Account |
| Minimum to Open | $0 | $100 |
| Minimum Balance for Top APY | $0.01 | $0 |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. |
Varo Bank
Strengths
- Varo Bank offers a high APY of 5.00% on savings up to $5,000.
- Varo Bank has a high App Store rating of 4.9.
- Varo Bank has no maintenance fees.
Potential Drawbacks
- Varo Bank requires a minimum direct deposit of $1,000/month to earn the high APY.
- Varo Bank's Google Play rating is lower at 4.6.
Vio Bank
Strengths
- Vio Bank offers a competitive APY of 4.21% without a direct deposit requirement.
- Vio Bank has an A+ BBB rating, indicating higher trustworthiness.
- Vio Bank has a minimum deposit of only $100.
Potential Drawbacks
- Vio Bank charges a $5 maintenance fee if electronic statements are not selected.
- Vio Bank's Google Play rating is significantly lower at 3.3.
→ As of November 12, 2025 Varo Bank offers an APY of 5.00% for its High-Yield Savings Account, with a minimum balance of $0.01, compared to Vio Bank's 4.21% APY for its Online Savings Account, with a minimum balance of $0.
→ Vio Bank yields $46 more than Varo Bank on a $10,000 balance after one year. Varo Bank pays $375 (with an effective APY of 3.75%), while Vio Bank pays $421 - an APY advantage for Vio Bank.
Calculate Savings Growth for Varo Bank vs Vio Bank
Varo Bank - High-Yield Savings Account
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
Total balance: $20,211.4
Earnings: $2,211.4
Bank OverviewVio Bank - Online Savings Account
Total savings breakdown:
- Interest earned: $2,570.8 (12.50%)
- Total contributions: $13,000 (63.20%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,570.80
Total balance: $20,570.8
Earnings: $2,570.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Varo Bank's total earnings would be $359.4 lower than Vio Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Varo Bank's vs Vio Bank's Savings Accounts
| Varo Bank | Vio Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | Online Savings Account |
| APY | 2.50% - 5.00% (as of 11/12/2025) | 4.21% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $100 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $0, if electronic statements selected, otherwise $5 | |
| Direct Deposit Required | Yes. Min. $1,000/month | No | |
| Note | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. Direct deposit required. | ||
| App Store Rating | 4.9/5 | 4.6/5 | |
| Google Play Rating | 4.6/5 | 3.3/5 | |
| BBB Rating | A | A+ |
No historical data available.