PNC vs. Varo Bank
PNC's PNC High Yield Savings pays 3.15% 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? PNC pays $78 more than Varo Bank annually ($315 vs $237).
Choose PNC if getting the best rate matters most, you want a no-strings-attached account, or you value in-person banking.
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 PNC's PNC High Yield Savings stands alone.
| Metric | PNCPNC High Yield Savings Sep 11, 2026 | Varo BankHigh-Yield Savings Account Sep 11, 2026 |
|---|---|---|
| APY | 3.15% | 1.00% - 3.75% |
Earns in a year | $5,000+$158 $10,000+$315 $25,000+$788 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | Eligibility restricted to select states. | 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 InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate 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
Varo Bank offers a High-Yield Savings Account with a competitive APY of 3.75%, which is higher than PNC's PNC High Yield Savings at 3.15%. However, to earn the top rate with Varo, customers must have a Varo bank account and set up direct deposit, while PNC's account has no such requirements. Varo's APY applies to balances up to $5,000, after which the rate drops to 1%. In contrast, PNC's High Yield Savings has no balance cap for the 3.15% APY, making it a more straightforward option for those with larger deposits. Both accounts are FDIC insured.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why PNC?
- No checking account or direct deposit required
- Physical branch access (Multiple branches in AL, AZ, CA, CO, DE, DC, FL, GA, IL, IN, KS, KY, MD, MA, MI, MO, NJ, NM, NY, NC, OH, PA, SC, TN, TX, VA, WV, WI)
Why Varo Bank?
- Higher potential APY (3.75% vs 3.15%) on balances up to $5,000 (requires checking bundle & direct deposit)
- Available Nationwide
Key Feature Differences
Better Returns at $10,000
PNCPNC's PNC High Yield Savings earns more on smaller deposits (approx. $315 vs $237/yr).
Better Returns at $25,000
PNCPNC's PNC High Yield Savings pulls ahead with larger amounts (approx. $788 vs $387/yr).
Better for Simplicity
PNCPNC's PNC High Yield Savings offers 3.15% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, PNC's PNC High Yield Savings pays $78 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
PNC vs. Varo Bank Savings Calculator
You earn $77.5 more with PNC 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.
PNC
PNC High Yield Savings
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
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 PNC and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | PNC | Varo Bank |
|---|---|---|
| APY | 3.15% Observed: 9/11/2026 0.10%90-day change | 3.75% Range: 1.00% - 3.75% Observed: 9/11/2026 1.25%90-day change |
| Product Name | PNC High Yield Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $1 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 2,420 (AL, AZ, CA, CO, DC, DE, FL, GA (+20 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/dayCentral to Virtual Wallet suite. | Available Requires history of qualifying direct deposits. |
| BBB Rating | A+ | A+ |
| Important Notes | Eligibility restricted to select states. | 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 PNC 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 | PNC | Varo Bank | |
|---|---|---|---|
| PNC High Yield Savings | Standard Savings | High-Yield Savings Account | |
Current APY | 3.15% | 0.03% | 3.75% |
Trend | Stable | Stable | Stable |
Speed of change | -0.12 | 0.00 | -0.07 |
Days Since Change | 87 | 361 | 71 |
12-Month High | 3.95% | 0.03% | 5.00% |
12-Month Low | 3.15% | 0.03% | 3.75% |
Changes per month | 0.49 | 0.00 | 0.08 |
Steadiness | 0.066 | 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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Compare PNC's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| PNC vs Ally Bank | 3.00% | $0 |
| PNC vs American Express | 3.00% | $0 |
| PNC vs Axos Bank | 4.21% | $0 |
| PNC vs Barclays | 3.65% | $0 |
| PNC vs Capital One | 3.50% | $0 |
| PNC vs Chime | 3.75% | $0 |
| PNC vs CIT Bank | 3.75% | $100 |
| PNC vs EverBank | 3.90% | $0 |
| PNC vs Marcus by Goldman Sachs | 3.40% | $0 |
| PNC vs Newtek Bank | 4.20% | $100 |
| PNC vs Openbank | 3.80% | $500 |
| PNC vs Pibank | 4.10% | $0 |
| PNC vs SoFi Bank | 4.00% | $0 |
| PNC vs Synchrony Bank | 3.30% | $0 |
| PNC vs Wealthfront | 3.95% | $0 |