TD Bank vs. Varo Bank
TD Bank's TD Signature Savings pays 2.50% APY while Varo Bank's High-Yield Savings Account pays 3.75% APY.
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 $374 more than TD Bank annually ($375 vs $1).
Choose TD Bank if you value in-person banking. Choose Varo Bank if getting the best rate matters most, you're an Android user, or you want Zelle for quick transfers.
Important Considerations
Both institutions require a checking account to access their highest savings rates.
| Metric | TD BankTD Signature Savings Aug 21, 2026 | Varo BankHigh-Yield Savings Account Aug 19, 2026 |
|---|---|---|
| APY | 0.01% - 2.50% | 3.75% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$187 $10,000+$375 $25,000+$937 |
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. The stated APY is available when you link an eligible TD account and have a minimum balance of $100,000. | Earn the stated APY on up to $5,000 and a lower APY on the rest. A Varo bank account & direct deposit required. |
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessChecking Bundle | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these institutions offer rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
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 (3.75% vs 2.50%) on all balances
- ✓Higher rated Android app (4.6 vs 4.1)
- ✓Fast transfers via Zelle®
Key Feature Differences
Better Returns at $10,000
Varo BankVaro Bank's High-Yield Savings Account earns more on smaller deposits (approx. $375 vs $1/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $937 vs $3/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 $374 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
Top Market Contenders
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
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 | 2.50% Range: 0.01% - 2.50% Verified: 8/21/2026 - | 3.75% Verified: 8/19/2026 - |
| 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 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| 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 | Required |
| Checking Bundle | Yes | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | 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. The stated APY is available when you link an eligible TD account and have a minimum balance of $100,000. | Earn the stated APY on up to $5,000 and a lower 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 | Varo Bank |
|---|---|
| High-Yield Savings Account | |
Current APY | 3.75% |
Trend | Stable |
Velocity (bps/mo) | -29.8 |
Days Since Change | 23 |
6-Month High | 5.00% |
6-Month Low | 3.75% |
Adjustments / Mo | 0.15 |
Volatility Score | 0.144 |
How to read these metrics(Click to expand)
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Compare TD Bank's APY of 2.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| TD Bank vs Ally Bank | 3.00% | $0 |
| TD Bank vs American Express | 3.00% | $0 |
| TD Bank vs Axos Bank | 4.21% | $0 |
| TD Bank vs Barclays | 3.65% | $0 |
| TD Bank vs Capital One | 3.50% | $0 |
| TD Bank vs Chime | 3.75% | $0 |
| TD Bank vs CIT Bank | 3.75% | $100 |
| TD Bank vs EverBank | 3.90% | $0 |
| TD Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| TD Bank vs Newtek Bank | 4.20% | $100 |
| TD Bank vs Openbank | 3.80% | $500 |
| TD Bank vs Pibank | 4.10% | $0 |
| TD Bank vs SoFi Bank | 3.80% | $0 |
| TD Bank vs Synchrony Bank | 3.30% | $0 |
| TD Bank vs Wealthfront | 3.95% | $0 |