Varo logo

Varo

All-digital bank with high-yield savings

stocks
Founded 2015Regulation FDIC Insured
Min Investment
N/ASee details
Target Return
Up to 5% APYAnnualized
Annual Fee
0%of AUM
Liquidity
Daily
Accredited
NoOpen to all

Pros & Cons

Pros

  • National bank charter
  • No fees
  • High APY on savings

Cons

  • Savings rate tiered
  • Not an investment platform
  • Limited products
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Head-to-Head

PlatformMinTarget ReturnAnnual FeeLiquidityAccredited
Varo logoVaro◀—Up to 5% APYNo feesDailyNo
CIT Bank logoCIT Bank—4–5.5% APYNo feesDailyNo
American Express Savings logoAmerican Express Savings—4–5% APYNo feesDailyNo
Public logoPublic—Market returns0–2% premium bond feeDailyNo
LendingClub logoLendingClub—4–7%No fee on savingsDaily (savings)No
06

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