MEMS varactors capable of handling large signals and/or achieving a high capacitance tuning range are described. In an exemplary design, a MEMS varactor includes (i) a first bottom plate electrically coupled to a first terminal receiving an input signal, (ii) a second bottom plate electrically coupled to a second terminal receiving a DC voltage, and (iii) a top plate formed over the first and second bottom plates and electrically coupled to a third terminal. The DC voltage causes the top plate to mechanically move and vary the capacitance observed by the input signal. In another exemplary design, a MEMS varactor includes first, second and third plates formed on over one another and electrically coupled to first, second and third terminals, respectively. First and second DC voltages may be applied to the first and third terminals, respectively. An input signal may be passed between the first and second terminals.