TD Bank vs. Varo Bank
Comparing TD Bank and Varo Bank for high-yield savings: TD Bank's TD Signature Savings pays 2.36% APY while Varo Bank's High-Yield Savings Account pays 5.00% APY.
Note: Varo Bank caps its top rate at $5,000.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Varo Bank pays $370 more than TD Bank annually ($375 vs $5).
Choose TD Bank if you value in-person banking. Choose Varo Bank if getting the best rate matters most, or you're an Android user.
Important Considerations
Watch out: Varo Bank's 5.00% APY only applies to the first $5,000. With a $10,000 balance, your effective rate drops to 3.75% APY ($375 annually).
Both banks require a checking account to access their highest savings rates.
| Metric | TD BankTD Signature Savings Feb 7, 2026 | Varo BankHigh-Yield Savings Account Feb 7, 2026 |
|---|---|---|
| APY | 0.05% - 2.36% | 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. 2.36% is available when you link an eligible TD account and have a minimum balance of $250,000. 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 BundleRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingStable Rate |
Looking for Simplicity?
Don't want a checking bundle? We track many high-yield banks that offer competitive rates without checking requirements.
Executive Summary
Varo Bank offers a High-Yield Savings Account with a competitive APY of 5.00%, significantly higher than TD Bank's TD Signature Savings, which provides a maximum APY of 2.36% for balances of $250,000 or more. Varo's account requires a minimum direct deposit of $1,000 per month and is online-only, making it accessible without physical branches. In contrast, TD Bank's account does not require direct deposit but offers a much lower yield for smaller balances. For those who meet the eligibility requirements, Varo Bank stands out as the better option for higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 2.36%) 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.
Non-sponsored link to official site
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 $250,000
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 | 2.36% Range: 0.05% - 2.36% Verified: 2/7/2026 ↘︎ 0.39%90d Change | 5.00% Range: 2.50% - 5.00% Verified: 2/7/2026 Stable (90d) |
| Product Name | TD Signature Savings | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $250,000 | $0.01 |
| Monthly Fee | $10. Waived under some circumstances. | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Multiple branches in CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA, DC | None |
| Direct Deposit Req. | None | RequiredMin. $1,000/month |
| Checking Bundle | Yes | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| 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. 2.36% is available when you link an eligible TD account and have a minimum balance of $250,000. 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 | 2.36% | 5.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -8.8 | 0.0 |
Days Since Change | 22 | 365 |
12-Month High | 3.51% | 5.00% |
12-Month Low | 2.36% | 5.00% |
Adjustments / Mo | 0.41 | 0.00 |
Volatility Score | 0.107 | 0.000 |
How to read these metrics(Click to expand)
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Compare TD Bank's APY of 2.36% with other banks
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|---|---|---|
| TD Bank vs Ally Bank | 3.30% | $0 |
| TD Bank vs American Express | 3.30% | $0 |
| TD Bank vs Axos Bank | 4.21% | $0 |
| TD Bank vs Bank of America | 0.01% | $100 |
| TD Bank vs Barclays | 4.00% | $0 |
| TD Bank vs Capital One | 3.30% | $0 |
| TD Bank vs Chase Bank | 0.01% | $0 |
| TD Bank vs Chime | 3.00% | $0 |
| TD Bank vs CIT Bank | 3.75% | $100 |
| TD Bank vs Citibank | 3.20% | $0 |
| TD Bank vs Discover Bank | 3.30% | $0 |
| TD Bank vs EverBank | 3.90% | $0 |
| TD Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| TD Bank vs Newtek Bank | 4.20% | $0.01 |
| TD Bank vs Openbank | 4.09% | $500 |
| TD Bank vs Pibank | 4.60% | $0 |
| TD Bank vs SoFi Bank | 4.00% | $0 |
| TD Bank vs Synchrony Bank | 3.50% | $0 |
| TD Bank vs Wealthfront | 3.95% | $0 |
| TD Bank vs Wells Fargo | 0.05% | $25 |