Varo Money Savings Account
Varo Bank
5.00% APY
Bonus for new customers who open an account via a referral link and receive at least $500 in qualifying direct deposits within 45 days.
$0
$0
What sets this account apart is its tiered APY structure, offering an impressive 5.00% on balances up to $5,000 for customers who meet direct deposit requirements. This makes it particularly attractive for those who can maintain qualifying deposits, ensuring they earn the highest possible interest on their savings.
Pros:
- High yield on first $5,000
- No monthly fees
Cons:
- Requires direct deposit to earn top rate
Overall, the Varo Money Savings Account is ideal for individuals who can meet direct deposit requirements and are looking to maximize their savings with a competitive 5.00% APY, all while enjoying the added benefit of no monthly fees. With a welcome bonus of $100, it’s a great option for those seeking to grow their savings efficiently.