Chase Bank vs. Varo Bank
Chase Bank's Chase Savings℠ pays 0.01% APY while Varo Bank's High-Yield Savings Account pays 3.75% APY.
Note: Varo Bank's High-Yield Savings Account also needs 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? Varo Bank pays $236 more than Chase Bank annually ($237 vs $1).
Choose Chase Bank if you want a no-strings-attached account. Choose Varo Bank if getting the best rate matters most.
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 Chase Bank's Chase Savings℠ stands alone.
| Metric | Chase BankChase Savings℠ Sep 7, 2026 | Varo BankHigh-Yield Savings Account Sep 5, 2026 |
|---|---|---|
| APY | 0.01% | 1.00% - 3.75% |
Earns in a year | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | 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 AppIn-Person AccessZelle® SupportedStable Rate | 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.
Comparison Analysis
Comparing Chase Bank vs. Varo Bank
Executive Summary
Varo Bank offers a significantly higher APY of 3.75% on its High-Yield Savings Account, which applies to balances up to $5,000, making it a compelling choice for savers compared to Chase Bank's savings options, which all yield just 0.01%. While Chase provides various savings accounts, including the Chase Savings℠ and Chase Premier Savings, they do not compete with Varo's rates. However, Varo's account requires a linked bank account and direct deposit, while Chase does not have such requirements. Additionally, Varo Bank operates online only, whereas Chase has physical branches.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- No checking account or direct deposit required
- Offers 4 different high-yield savings options
Why Varo Bank?
- Higher potential APY (3.75% vs 0.01%) on all balances
Key Feature Differences
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $237 vs $1/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $387 vs $3/yr).
Better for All-in-One Banking
Varo BankVaro Bank's High-Yield Savings Account pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $236 more interest on a $10,000 balance than Chase Bank's Chase Savings℠.
*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
Chase Bank vs. Varo Bank Savings Calculator
You earn $236.5 more with Varo Bank than Chase 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.
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
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.
| Feature | Chase Bank | Varo Bank |
|---|---|---|
| APY | 0.01% Observed: 9/7/2026 Stable over 90 days | 3.75% Range: 1.00% - 3.75% Observed: 9/5/2026 1.25%90-day change |
| Product Name | Chase Savings℠ | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $5 | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 5,394 (AL, AR, AZ, CA, CO, CT, DC, DE (+41 more)) | 1 (UT) |
| Direct Deposit Req. | None | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Available Requires history of qualifying direct deposits. |
| BBB Rating | A- | A+ |
| Important Notes | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. | 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 Chase 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 | Chase Bank | Varo Bank |
|---|---|---|
| Chase Savings℠ | High-Yield Savings Account | |
Current APY | 0.01% | 3.75% |
Trend | Stable | Stable |
Speed of change | 0.00 | -0.07 |
Days Since Change | 363 | 67 |
12-Month High | 0.01% | 5.00% |
12-Month Low | 0.01% | 3.75% |
Changes per month | 0.00 | 0.08 |
Steadiness | 0.000 | 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 Chase Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.00% | $0 |
| Chase Bank vs American Express | 3.00% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.65% | $0 |
| Chase Bank vs Capital One | 3.50% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Chase Bank vs Newtek Bank | 4.20% | $100 |
| Chase Bank vs Openbank | 3.80% | $500 |
| Chase Bank vs Pibank | 4.10% | $0 |
| Chase Bank vs SoFi Bank | 4.00% | $0 |
| Chase Bank vs Synchrony Bank | 3.30% | $0 |
| Chase Bank vs Wealthfront | 3.95% | $0 |