TD Bank vs. Varo Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | TD BankTD Signature Savings Jan 12, 2026 | Varo BankHigh-Yield Savings Account Jan 12, 2026 |
|---|---|---|
| APY | 0.05% - 2.60% | 2.50% - 5.00% |
Est. Earnings | $5,000+$3 $10,000+$5 $25,000+$13 | $5,000+$250 $10,000+$375 $25,000+$750 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.60% is available when you link an eligible TD account and have a minimum balance of $100,000. Otherwise 0.05% is the maximum APY. | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking Bundle |
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Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
As of TD Bank offers an APY of 2.60% for its TD Signature Savings account, with a minimum balance of $100,000, compared to Varo Bank's 5.00% APY for its High-Yield Savings Account, with a minimum balance of $0.01.
Varo Bank pays $370 more than TD Bank on a $10,000 balance after one year. TD Bank pays $5 (with an effective APY of 0.05%), while Varo Bank pays $375 (with an effective APY of 3.75%) - an APY advantage for Varo Bank.
Why TD Bank?
- ✓Physical branch access (Multiple branches in CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA, DC)
Why Varo Bank?
- ✓Higher potential APY (5.00% vs 2.60%) on all balances
- ✓Higher rated Android app (4.6 vs 4.1)
— Key Feature Differences —
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $5/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $750 vs $13/yr).
Requires Banking Relationship
Both banks require a checking account bundle to access their highest rates.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $370 more interest on a $10,000 balance than TD Bank's TD Signature Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00% on balances up to $5,000, making it the clear winner compared to TD Bank's TD Signature Savings, which yields 2.60% for balances over $100,000. Varo's account requires a Varo bank account and a minimum direct deposit of $1,000 per month, while TD's account does not have a direct deposit requirement but has a maintenance fee that can be waived under certain conditions. For those with lower balances, Varo also provides a rate of 2.50% on amounts exceeding $5,000, further enhancing its appeal.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
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TD Bank vs. Varo Bank Savings Calculator
You earn $370 more with Varo Bank than TD Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
TD Bank
TD Signature Savings
Higher APY requires $100,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
Varo Bank
High-Yield Savings Account
5.00% on first $5,000 and 2.50% thereafter.
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | TD Bank | Varo Bank |
|---|---|---|
| APY | 2.60% Range: 0.05% - 2.60% Verified: 1/12/2026 ↘︎ 0.15%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 1/12/2026 Stable (90d) |
| Product Name | TD Signature Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $100,000 | $0.01 |
| Monthly Fee | $10. Waived under some circumstances. | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | Yes | Yes |
| Mobile Apps | iOS4.8 Android4.1 | iOS4.9 Android4.6 |
| Zelle® Support | Available Limit: $1,000/dayLimits increase for established or Private Client accounts. | Available Requires history of qualifying direct deposits. |
| BBB Rating | Not Rated | A |
| Important Notes | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.60% is available when you link an eligible TD account and have a minimum balance of $100,000. Otherwise 0.05% is the maximum APY. | Earn 5.00% APY on up to $5,000 and 2.50% APY on the rest. A Varo bank account & direct deposit required. |
| Next Steps | Visit SiteVerify at TD Bank Non-sponsored link to official site | Visit SiteVerify at Varo Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | TD Bank | Varo Bank |
|---|---|---|
| TD Signature Savings | High-Yield Savings Account | |
Current APY | 2.60% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -8.2 | 0.0 |
Days Since Change | 24 | 346 |
11-Month High | 3.70% | 5.00% |
11-Month Low | 2.60% | 5.00% |
Adjustments / Mo | 0.43 | 0.00 |
Volatility Score | 0.093 | 0.000 |
How to read these metrics(Click to expand)
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