Bask Bank vs. Varo Bank
Bask Bank and Varo Bank both offer 3.75% APY on their high-yield savings accounts. With identical rates, your choice comes down to other factors like mobile app quality, branch access, or customer service reputation.
The Bottom Line
Who pays more interest on $10,000? Bask Bank pays $138 more than Varo Bank annually ($375 vs $237).
The Bask Bank and Varo Bank savings accounts are very similar. Choose Bask Bank if getting the best rate matters most, or you want a no-strings-attached account. Choose Varo Bank if BBB rating matters to you.
Important Considerations
Varo Bank's High-Yield Savings Account pays its top rate only if you also open a checking account with Varo Bank, while Bask Bank's Interest Savings Account stands alone.
| Metric | Bask BankInterest Savings Account Sep 7, 2026 | Varo BankHigh-Yield Savings Account Sep 5, 2026 |
|---|---|---|
| APY | 3.75% | 1.00% - 3.75% |
Earns in a year | $5,000+$188 $10,000+$375 $25,000+$938 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Executive Summary
Bask Bank and Varo Bank both offer high-yield savings accounts with an APY of 3.75%. Bask Bank's Interest Savings Account has no minimum balance requirement, no direct deposit needed, and is available online nationwide. In contrast, Varo Bank's High-Yield Savings Account requires a Varo bank account and direct deposit to earn the stated APY, which applies only to balances up to $5,000; any amount above that earns a lower APY. Therefore, for those seeking simplicity and higher returns on larger deposits, Bask Bank's offering is the more straightforward choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bask Bank?
- No checking account or direct deposit required
Why Varo Bank?
No distinct advantages found vs Bask Bank.
Key Feature Differences
Better Returns at $10,000
Bask BankBask Bank's Interest Savings Account earns more on smaller deposits (approx. $375 vs $237/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $938 vs $387/yr).
Better for Simplicity
Bask BankBask Bank's Interest Savings Account offers 3.75% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $138 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
Bask Bank vs. Varo Bank Savings Calculator
You earn $137.5 more with Bask 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.
Bask Bank
Interest Savings Account
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
Savings Breakdown
- Interest Earned+$237.50(2.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,237.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $232 a year in interest.
Both Bask Bank and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | Bask Bank | Varo Bank |
|---|---|---|
| APY | 3.75% Observed: 9/7/2026 0.25%90-day change | 3.75% Range: 1.00% - 3.75% Observed: 9/5/2026 1.25%90-day change |
| Product Name | Interest Savings Account | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | Not reported | 1 (UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Available for Interest Checking; not for standalone savings. | Available Requires history of qualifying direct deposits. |
| BBB Rating | B | A+ |
| Important Notes | - | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Next Steps | Visit SiteVerify at Bask 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 | Bask Bank | Varo Bank |
|---|---|---|
| Interest Savings Account | High-Yield Savings Account | |
Current APY | 3.75% | 3.75% |
Trend | Stable | Stable |
Speed of change | -0.05 | -0.07 |
Days Since Change | 125 | 67 |
12-Month High | 4.15% | 5.00% |
12-Month Low | 3.75% | 3.75% |
Changes per month | 0.41 | 0.08 |
Steadiness | 0.033 | 0.038 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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Compare Bask Bank's APY of 3.75% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bask Bank vs Ally Bank | 3.00% | $0 |
| Bask Bank vs American Express | 3.00% | $0 |
| Bask Bank vs Axos Bank | 4.21% | $0 |
| Bask Bank vs Barclays | 3.65% | $0 |
| Bask Bank vs Capital One | 3.50% | $0 |
| Bask Bank vs Chime | 3.75% | $0 |
| Bask Bank vs CIT Bank | 3.75% | $100 |
| Bask Bank vs EverBank | 3.90% | $0 |
| Bask Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Bask Bank vs Newtek Bank | 4.20% | $100 |
| Bask Bank vs Openbank | 3.80% | $500 |
| Bask Bank vs Pibank | 4.10% | $0 |
| Bask Bank vs SoFi Bank | 4.00% | $0 |
| Bask Bank vs Synchrony Bank | 3.30% | $0 |
| Bask Bank vs Wealthfront | 3.95% | $0 |