GO2bank vs. Varo Bank
GO2bank's High Yield Savings pays 4.50% APY while Varo Bank's High-Yield Savings Account pays 3.75% APY.
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 $12 more than GO2bank annually ($237 vs $225).
Choose Varo Bank if getting the best rate matters most, BBB rating matters to you, or you want Zelle for quick transfers.
Important Considerations
Both High Yield Savings and High-Yield Savings Account pay their top rate only if you also open a checking account at the same institution.
| Metric | GO2bankHigh Yield Savings Sep 11, 2026 | Varo BankHigh-Yield Savings Account Sep 11, 2026 |
|---|---|---|
| APY | 4.50% | 1.00% - 3.75% |
Earns in a year | $5,000+$225 $10,000+$225 $25,000+$225 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | A GO2bank checking account is required to open a savings account. The stated APY is up to $5,000. Balances above that earn no interest. | 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 AppChecking BundleStable Rate | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Looking for Simplicity?
Don't want a checking bundle? We track many savings and money market accounts that pay competitive rates without checking requirements.
Executive Summary
GO2bank offers a High Yield Savings account with an APY of 4.50% on balances up to $5,000, requiring a GO2bank checking account to open. In comparison, Varo Bank's High-Yield Savings Account provides a lower APY of 3.75% on similar balances, but it also requires a Varo bank account and direct deposit. Both accounts are online-only and available nationally. While Varo Bank has a competitive offering, GO2bank's higher APY makes it the more attractive option for savers looking to maximize their interest earnings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why GO2bank?
- Higher potential APY (4.50% vs 3.75%) on balances up to $5,000 (requires checking bundle)
Why Varo Bank?
- Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $237 vs $225/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $387 vs $225/yr).
Requires Banking Relationship
High Yield Savings and High-Yield Savings Account both require a checking account bundle to pay their highest rates.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $12 more interest on a $10,000 balance than GO2bank's High Yield 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
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GO2bank vs. Varo Bank Savings Calculator
You earn $212.5 more with GO2bank 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.
GO2bank
High Yield Savings
Savings Breakdown
- Interest Earned+$450.00(4.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,450.00
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 $220 a year in interest.
Both GO2bank and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | GO2bank | Varo Bank |
|---|---|---|
| APY | 4.50% Observed: 9/11/2026 Stable over 90 days | 3.75% Range: 1.00% - 3.75% Observed: 9/11/2026 1.25%90-day change |
| Product Name | High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $5 per month, unless you set up direct deposit | $0 |
| Compound Frequency | Quarterly | 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 | Yes | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Requires history of qualifying direct deposits. |
| BBB Rating | F | A+ |
| Important Notes | A GO2bank checking account is required to open a savings account. The stated APY is up to $5,000. Balances above that earn no interest. | 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 GO2bank 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 | GO2bank | Varo Bank |
|---|---|---|
| High Yield Savings | High-Yield Savings Account | |
Current APY | 4.50% | 3.75% |
Trend | Stable | Stable |
Speed of change | 0.00 | -0.07 |
Days Since Change | 361 | 71 |
12-Month High | 4.50% | 5.00% |
12-Month Low | 4.50% | 3.75% |
Changes per month | 0.00 | 0.08 |
Steadiness | 0.000 | 0.039 |
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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More Comparisons
Compare GO2bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| GO2bank vs Ally Bank | 3.00% | $0 |
| GO2bank vs American Express | 3.00% | $0 |
| GO2bank vs Axos Bank | 4.21% | $0 |
| GO2bank vs Barclays | 3.65% | $0 |
| GO2bank vs Capital One | 3.50% | $0 |
| GO2bank vs Chime | 3.75% | $0 |
| GO2bank vs CIT Bank | 3.75% | $100 |
| GO2bank vs EverBank | 3.90% | $0 |
| GO2bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| GO2bank vs Newtek Bank | 4.20% | $100 |
| GO2bank vs Openbank | 3.80% | $500 |
| GO2bank vs Pibank | 4.10% | $0 |
| GO2bank vs SoFi Bank | 4.00% | $0 |
| GO2bank vs Synchrony Bank | 3.30% | $0 |
| GO2bank vs Wealthfront | 3.95% | $0 |