Rates that make you double take

Start earning

Annual Percentage Yield (APY)1

Then, earn up to

Annual Percentage Yield (APY)1

Get a no-fee2 Varo Bank Account,
then set up your Varo Savings Account.

Annual Percentage Yield1

• Balance must be at least $0.01 to earn interest


The Savings Account balance must be $50,000 or less and the customer must meet both of the following requirements:
• Receive payroll or government direct deposits totaling at least $1,000 each month into the Varo Bank Account
• Use the Varo Visa® Debit Card to authorize at least 5 purchases each month (excluding ATM or Over-the-Counter Cash Withdrawals and P2P transfers)

New customers seeking to qualify for 2.80% APY will first need to set up direct deposit and receive their debit card in the mail and activate it. Until the qualifying direct deposit(s) are posted and debit card purchase transactions made, they will earn 2.12% APY.

For details see the Rate Information section of the Varo Savings Account Agreement.

Is your bank helping you save?

If their APY is next to nothing, if your account can’t automatically save for you, if you have to pay fees or meet a minimum balance… you could be getting a lot more from your money.

Here’s how our rates stack up for a $10,000 savings balance



Whatever the balance, still no fees
There’s no minimum balance requirement to open a Varo Savings Account, and you start earning interest with a balance of just 1 penny. Plus, no fees ever.


What’s APY?
APY is the amount of compounded interest you earn on your savings every day. We deposit it into your account the first of each month.

Up, up, and away

Looking to earn 2.80% APY? Follow these steps:

  • Make at least 5 Varo Visa® Debit Card purchases each calendar month.

  • Receive payroll or government Direct Deposits of at least $1,000 each calendar month into your Varo Bank Account.

  • Have a Varo Savings Account balance less than $50,000.

Otherwise, enjoy 2.12% APY. You’ll make other rates blush.
(See the Varo Savings Account Agreement here.)

Why don’t we just save for you?

Automatic savings tools transfer money from your Varo Bank Account to your Varo Savings Account,  and you don’t have to think about it.

Save Your Pay: Takes a percentage of your Varo Bank Account deposits and automatically transfers it to your Savings Account (you choose the percentage!)

Save Your Change: Rounds up every transaction to the nearest dollar and transfers that amount from your Varo Bank Account to your Savings Account

Stop paying account fees.1 Apply for a Varo Bank Account today!

13,000+ 5-star reviews
on App Store and Google Play™ Store

5 stars

“Varo is a mobile-only banking app with a hard-to-beat combo: free checking and high-yield savings.”

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