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 $236 more than TD Bank annually ($237 vs $1).
Choose TD Bank if you value in-person banking. Choose Varo Bank if getting the best rate matters most, or you want Zelle for quick transfers.
Important Considerations
Both TD Signature Savings and High-Yield Savings Account pay their top rate only if you also open a checking account at the same institution.
| Metric | TD BankTD Signature Savings Sep 4, 2026 | Varo BankHigh-Yield Savings Account Sep 4, 2026 |
|---|---|---|
| APY | 0.01% - 2.50% | 1.00% - 3.75% |
Earns in a year | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$187 $10,000+$237 $25,000+$387 |
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
Varo Bank offers a High-Yield Savings Account with a notable APY of 3.75% on balances up to $5,000, making it a strong choice for savers looking to maximize their returns. In contrast, TD Bank's Signature Savings account provides a maximum APY of 2.50%, available when linked to an eligible TD account with a minimum balance of $100,000. While TD Bank's account does offer a tiered structure, Varo's higher yield on smaller deposits gives it a significant advantage. Additionally, Varo requires a bank account and direct deposit to qualify for its rates, whereas TD Bank does not have such requirements.
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 (4.5 vs 4.2)
- 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. $237 vs $1/yr).
Better Returns at $25,000
Varo BankVaro Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $387 vs $3/yr).
Requires Banking Relationship
TD Signature Savings and High-Yield Savings Account both require a checking account bundle to pay their highest rates.
Shared Benefits
Over a 1-year period, Varo Bank's High-Yield Savings Account pays $236 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 $232.5 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+$237.50(2.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,237.50
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% Observed: 9/4/2026 Stable over 90 days | 3.75% Range: 1.00% - 3.75% Observed: 9/4/2026 1.25%90-day change |
| 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 | 1,051 (CT, DC, DE, FL, MA, MD, ME, NC (+8 more)) | 1 (UT) |
| 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 |
Speed of change | -0.27 |
Days Since Change | 64 |
7-Month High | 5.00% |
7-Month Low | 3.75% |
Changes per month | 0.14 |
Steadiness | 0.144 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 209-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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More Comparisons
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 | 4.00% | $0 |
| TD Bank vs Synchrony Bank | 3.30% | $0 |
| TD Bank vs Wealthfront | 3.95% | $0 |