UFB Direct vs. Varo Bank
UFB Direct's UFB Checking and Savings Bundle pays 3.46% 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? UFB Direct pays $109 more than Varo Bank annually ($346 vs $237).
Choose UFB Direct if getting the best rate matters most. Choose Varo Bank if you want Zelle for quick transfers.
Important Considerations
Both UFB Checking and Savings Bundle and High-Yield Savings Account pay their top rate only if you also open a checking account at the same institution.
| Metric | UFB DirectUFB Checking and Savings Bundle Sep 14, 2026 | Varo BankHigh-Yield Savings Account Sep 14, 2026 |
|---|---|---|
| APY | 3.46% | 1.00% - 3.75% |
Earns in a year | $5,000+$0 $10,000+$346 $25,000+$865 | $5,000+$187 $10,000+$237 $25,000+$387 |
Min. Deposit | $5,000 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | The regular savings or money market APY may be boosted by direct deposits, minimum balance of $10,000 and making 10 approved debit card transactions per statement cycle. The checking account also earns interest. See bank for full details. | 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 InsuredHigh MinimumGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily 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 4.20% APY.
Comparison Analysis
Comparing UFB Direct vs. Varo Bank
Executive Summary
At a balance of $10,000, UFB Direct offers 3.46%, its headline UFB Checking and Savings Bundle, while Varo Bank offers 1%, and its headline High-Yield Savings Account offers 3.75% from a balance of $0.01. Varo Bank has been the leader since at least January 21, 2026, and its effective APY at this balance is 1%. UFB Direct's average savings and money market deposits reported a core average of 3.32% as of June 30, 2026.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why UFB Direct?
- Offers an interest-bearing checking account in addition to the savings APY
- Access to over 90,000 fee-free ATMs
- Offers 2 different high-yield savings options
Why Varo Bank?
- Higher potential APY (3.75% vs 3.26%-3.46%) on balances up to $5,000 (requires checking bundle & direct deposit)
- Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
UFB DirectUFB Direct's UFB Checking and Savings Bundle earns more on smaller deposits (approx. $346 vs $237/yr).
Better Returns at $25,000
UFB DirectUFB Direct's UFB Checking and Savings Bundle pulls ahead with larger amounts (approx. $865 vs $387/yr).
Better for Simplicity
UFB DirectUFB Direct's UFB Portfolio Savings offers 3.26% APY with no bundling, direct deposit requirement or caps.
Requires Banking Relationship
UFB Checking and Savings Bundle and High-Yield Savings Account both require a checking account bundle and qualifying requirements to pay their highest rates.
Shared Benefits
Over a 1-year period, UFB Direct's UFB Checking and Savings Bundle pays $109 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
UFB Direct vs. Varo Bank Savings Calculator
You earn $108.5 more with UFB Direct 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.
UFB Direct
UFB Checking and Savings Bundle
Savings Breakdown
- Interest Earned+$346.00(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,346.00
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 UFB Direct and Varo Bank advertise far more than that typical branch-bank rate.
| Feature | UFB Direct | Varo Bank |
|---|---|---|
| APY | 3.46% Observed: 9/14/2026 Stable over 90 days | 3.75% Range: 1.00% - 3.75% Observed: 9/14/2026 1.25%90-day change |
| Product Name | UFB Checking and Savings Bundle | High-Yield Savings Account |
| Minimum Deposit | $5,000 | $0 |
| Min. Balance for APY | $10,000 | $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. | Required | 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 | A+ | A+ |
| Important Notes | The regular savings or money market APY may be boosted by direct deposits, minimum balance of $10,000 and making 10 approved debit card transactions per statement cycle. The checking account also earns interest. See bank for full details. | 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 UFB Direct Non-sponsored link to official site | Visit SiteVerify at Varo Bank Non-sponsored link to official site |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
UFB Direct
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Axos Bank paid a higher average rate on savings and money market deposits than 91% of banks that reported a figure (3,938 banks; FDIC call report). The all-bank median was 1.45%.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Varo Bank
The two figures answer different questions, so they sit side by side and are not combined. The 3.75% applies to the first $5,000. The balance above that earns 1.00%.
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the 3,938 banks that reported a figure for the quarter ending June 30, 2026.
Money market accounts
A money market account holds a savings balance and adds check or debit card access. The figure each bank advertises is its best APY across every active tier, so the sentence under it says which balance earns that rate.
UFB Direct
UFB Portfolio Money Market
3.26% APY
No minimum. As observed Sep 14, 2026.
Varo Bank
No money market account listed here.
The FDIC national money market average was 0.63% in Aug 2026.
Compare Savings Rates Over Time
Historical Performance
| Metric | UFB Direct | Varo Bank | |
|---|---|---|---|
| UFB Portfolio Savings | UFB Checking and Savings Bundle | High-Yield Savings Account | |
Current APY | 3.26% | 3.46% | 3.75% |
Trend | Stable | Stable | Stable |
Speed of change | -0.09 | -0.11 | -0.07 |
Days Since Change | 251 | 251 | 74 |
12-Month High | 4.01% | 4.21% | 5.00% |
12-Month Low | 3.26% | 3.46% | 3.75% |
Changes per month | 0.41 | 0.41 | 0.08 |
Steadiness | 0.057 | 0.053 | 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 UFB Direct's APY of 3.46% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| UFB Direct vs Ally Bank | 3.00% | $0 |
| UFB Direct vs American Express | 3.00% | $0 |
| UFB Direct vs Axos Bank | 4.21% | $0 |
| UFB Direct vs Barclays | 3.65% | $0 |
| UFB Direct vs Capital One | 3.50% | $0 |
| UFB Direct vs Chime | 3.75% | $0 |
| UFB Direct vs CIT Bank | 3.75% | $100 |
| UFB Direct vs EverBank | 3.90% | $0 |
| UFB Direct vs Marcus by Goldman Sachs | 3.40% | $0 |
| UFB Direct vs Newtek Bank | 4.20% | $100 |
| UFB Direct vs Openbank | 3.80% | $500 |
| UFB Direct vs Pibank | 4.10% | $0 |
| UFB Direct vs SoFi Bank | 4.00% | $0 |
| UFB Direct vs Synchrony Bank | 3.30% | $0 |
| UFB Direct vs Wealthfront | 3.95% | $0 |