Savings account rates that make you double take
Start earning
Earn up to
2.80%Annual Percentage Yield (APY)1
Get a no-fee Varo Bank Account,
then set up your high-yield Varo Savings Account.
APY1
Balance Requirements
• None
• No more than $50,000, plus qualifying activities (see below)
Up, up, and away with more savings
Looking to earn 2.80% APY with Varo’s high-yield savings account?
• Keep a Savings Account balance up to $50,000. You read that right. We have a $50,000 maximum, but no minimum balance requirement.
• 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.
Otherwise, enjoy 2.12% APY. See the Varo Savings Account Agreement here.
How our interest rates stack up for a $10,000 savings balance
Your bank should help you save
Does your savings account have a minimum balance or an APY that’s next to nothing?
Whatever the balance, still no monthly fees
There’s no minimum balance requirement to open a Varo Savings Account, and you start earning high-interest on your savings with a balance of $0.01. Plus, no fees ever.
What’s APY?
APY is a percentage rate that shows the total amount of interest you’ll earn on the account balance during one year. APY is based on the interest rate and how often the interest compounds. We add your earnings to your Varo Savings Account balance the first of every month.
We’ll automatically save for you
Automatic savings tools transfer money from your Varo Bank Account to your Varo Savings Account.
Save Your Pay: Takes a percentage of your Varo Bank Account direct 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
What about depositing cash
in the Green Dot® Network?
No fee from Varo
A retail service fee of up to $5.95 applies.
What about ATM fees
from non-Allpoint ATMs?
No fee from Varo
The ATM operator may charge a fee.
Stop paying fees.
Get a Varo Bank Account today!
Applying won’t affect your credit score.
17,000+ 5-star reviews
on App Store and Google Play™ Store
“A hard-to-beat combo: free checking and high-yield savings”
—NerdWallet^
