Bread Savings vs Varo Bank
Head-to-head comparison of Bread Savings High-Yield Savings and Varo Savings Account, updated daily.
Varo Bank currently wins on APY: 5.00% vs 4.40%
| Feature | Bread SavingsUpdated 1d ago | Varo BankUpdated 1d ago |
|---|---|---|
| APY | 4.40% | 5.00%★ |
| Min opening deposit | $100 | $0★ |
| Min balance for APY | $100 | $0★ |
| Monthly fee | $0.00 | $0.00 |
| Insurance | FDIC | FDIC |
| Compounding | daily | daily |
| ATM access | No | Yes★ |
| Check writing | No | No |
| Mobile app | No | Yes★ |
| Editor rating | 4.1 / 5 | 4.2 / 5★ |
Bread Savings verdict
Bread Savings is bare-bones and proud of it. There is no mobile app, no checking, no ATM — just a savings account with a competitive APY. For savers who want to "set and forget" without temptation to spend, the lack of features is a feature.
Read full Bread Savings review →Varo Bank verdict
Varo offers the highest headline APY on our list, but the conditions are strict: you need direct deposit, qualifying debit card spend, and the rate only applies to the first $5,000. For users who can meet those conditions on a small emergency fund, Varo is mathematically the best option. For larger balances, look elsewhere.
Read full Varo Bank review →