Varo High-Yield Savings Account

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About Varo Bank High-Yield Savings

The Varo High-Yield Savings Account from Varo Bank is one of the top-rated High-Yield Savings options evaluated on MoneyCompared, earning an overall product score of 9.1/10. Varo Bank is the first all-digital U.S. consumer fintech to receive an official national bank charter from the OCC, offering up to 5.00% APY on savings, fee-free checking, and the Varo Believe Credit Builder Card.
Key highlights include 2.50% - 5.00% APY, a fee structure of $0 Monthly Fee, and Up to 5.00% APY on first $5,000 with direct deposit.

Features

Annual Fee $0 Monthly Fee
Regular APR / Rate 2.50% - 5.00% APY
Intro Offer / Welcome Bonus Up to 5.00% APY on first $5,000 with direct deposit
Savings APY / AER Auto-Save roundups from checking + FDIC insured
Minimum Deposit $0 Minimum Opening Deposit
Foreign Transaction Fee $0 (None)
Deposit Insurance FDIC / NCUA Insured ($250k+)
Mobile App Rating 4.8 / 5.0
Overall Rating 9.1 / 10

About Product

  • Annual / Monthly Fee: $0 Monthly Fee
  • APR / APY Rate: 2.50% - 5.00% APY
  • Intro Offer / Bonus: Up to 5.00% APY on first $5,000 with direct deposit
  • Key Benefits: Auto-Save roundups from checking + FDIC insured
  • Minimum Requirement: $0 Minimum Opening Deposit
  • Institution: Varo Bank (Salt Lake City, UT, USA)

Pros

  • Rate / APY / APR: 2.50% - 5.00% APY
  • Fee Structure: $0 Monthly Fee
  • Welcome Offer / Highlight: Up to 5.00% APY on first $5,000 with direct deposit
  • Key Perks: Auto-Save roundups from checking + FDIC insured

Cons

  • Minimum Requirement: $0 Minimum Opening Deposit
  • Subject to Varo Bank credit or account eligibility terms

Ready to check your rate for Varo High-Yield Savings Account?

Visit the official Varo Bank website to view current terms, eligibility, and apply online.

Visit Official Varo Bank Site ↗