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TD Bank: Overall Bank Rating
For our TD Bank review, we rate bank products and services using a variety of methodologies. Learn more about our how we review products below:
TD Bank: Pros and Cons
Compare Today’s Savings Rates
TD Bank Personal Bank Accounts
Compare TD Bank accounts
TD Simple Savings Account
TD Simple Savings Account
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
0.02%
Minimum Deposit Amount
$0
- No monthly fee for students, or for adults under age 24 or age 62 or older
- No monthly fee for the first 12 months, with recurring monthly deposits of $25
- Mobile check deposit
- No minimum opening deposit
- Low APY
- $5 monthly service fee
The Insider’s Take
TD Bank Signature Savings Account pays a higher interest rate than the TD Simple Savings Account on balances of $10,000 or more. However, to get the most out of this account, you’ll need to qualify for a relationship rate and meet one of the requirements to waive the TD Signature Savings – Fees Display. Ultimately, you can find much better rates with the best online banks.
Product Details
- No monthly service fee for students, adults under age 24 or age 62 or older
- Waive $5 monthly service fee by maintaining $300 minimum daily balance
- No monthly fee for the first 12 months if you make recurring $25 monthly deposits
- Interest compounded daily
- FDIC insured
TD Signature Savings
TD Signature Savings
Fees
$15 monthly service fee
Annual Percentage Yield (APY)
0.01% to 4.00%
Minimum Deposit Amount
None
- Earn a competitive APY when you link to another eligible TD Bank account
- Earn a higher APY with a higher balance
- Mobile check deposit
- No minimum opening deposit
- Free incoming wire transfers
- Free money orders
- Free stop payments
- Free official checks
- $15 monthly service fee
- Low APY if you don’t link to another TD Bank account
The Insider’s Take
TD Bank Signature Savings Account pays a higher interest rate than the TD Simple Savings Account on balances of $10,000 or more. However, to get the most out of this account, you’ll need to qualify for a relationship rate and meet one of the requirements to waive the TD Signature Savings – Fees Display. Ultimately, you can find much better rates with the best online banks.
Product Details
- Earn a bump rate APY when you link a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan
- Earn 0.01% APY if you maintain less than $10,000 in your account
- Earn 0.05% APY if you don’t have an eligible TD Bank account and maintain an account balance between $10,000 and $24,999
- Earn 0.10% APY if you don’t have an eligible TD Bank account and maintain an account balance between $25,000 and $49,999
- Earn 0.15% APY if you don’t have an eligible TD Bank account and maintain an account balance between $50,000 and $99,999
- Earn 2.00% APY if you link an eligible TD bank account and maintain an account balance between $10,000 and $24,999
- Earn 2.25% APY if you have an eligible TD Bank account and maintain an account balance between $25,000 and $49,999
- Earn 2.50% APY if you have an eligible TD Bank account and maintain an account balance between $50,000 and $99,999
- Earn 4.00% APY if you have an eligible TD Bank account and maintain an account balance over $100,000
- Waive $15 monthly service fee by maintaining a $10,000 minimum balance, linking to a TD Beyond Checking Account, or opening an IRA
- No out-of-network ATM fees and ATM fee refunds if you maintain a $2,500 balance
- FDIC insured
TD Bank (Member FDIC) has two savings accounts: TD Signature Savings and the TD Simple Savings Account.
The TD Simple Savings Account makes it easy to waive monthly service fees during the first year — just make a recurring deposit of at least $25 each month. After that, you’ll need to maintain a minimum daily balance of $300 or meet certain age-specific requirements.
TD Signature Savings generally offers more competitive interest rates than TD Simple Savings Account for most account balances. However, you’ll need to be mindful of a $15 monthly service fee. To waive the monthly fee you must maintain a $10,000 minimum balance, link to a TD Beyond Checking Account, or open an IRA.
If you qualify for a relationship rate, you’ll also earn a higher interest rate on TD Signature Savings, especially on higher balances. To qualify for a relationship rate, you must link a savings account to a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan.
See Insider’s TD Bank savings rates review.
TD Bank Simple Checking Account
TD Bank Simple Checking Account
Fees
$5.99 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
- No minimum opening deposit
- Receive 0.25% discount on TD Bank home equity or personal loan
- Free overdraft protection
- $5.99 monthly service fee, with no way to waive it
- $3 out-of-network ATM fee
- $35 overdraft fee
Product Details
- Access to 1,100 locations and over 2,600 ATMs
- No way to waive $5.99 monthly service fee
- FDIC insured
TD Bank Convenience Checking Account
TD Bank Convenience Checking Account
Fees
$15 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
- No monthly service fee if you’re ages 17 to 23
- No opening deposit
- Free overdraft protection
- $15 monthly service fee
- No interest earned
- $3 out-of-network ATM fee
- $35 overdraft fee
Product Details
- Access to 1,100 branch locations and over 2,600 ATMs
- Waive $15 monthly fee with $100 daily balance
- No opening deposit
- FDIC insured
TD Bank Beyond Checking Account
TD Bank Beyond Checking Account
Fees
$25 monthly service fee
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
$0
- No opening deposit
- Free overdraft protection
- 2 overdraft fee reimbursements per year
- Waive other TD Bank account monthly fees when you have a Beyond Checking Account
- No out-of-network ATM fees
- Reimburses out-of-network ATM fees charged by providers when your balance is at least $2,500
- $25 monthly service fee
- $35 overdraft fee
Product Details
- Earn $300 when you have $2,500 in qualifying direct deposits within 60 days
- Access to over 1,100 branch locations
- Waive $25 monthly fee with $5,000 in monthly direct deposits, OR $2,500 minimum balance, OR total of $25,000 in all TD Bank accounts
- No opening deposit or minimum account balance
- Interest compounded daily
- FDIC insured
TD Bank offers a variety of checking accounts. You don’t need a minimum deposit to open any TD Bank checking account. However, all of the accounts have monthly service fees. You can waive monthly service fees on some TD Bank checking accounts by meeting certain minimum balance requirements or if you fit a specific age group.
See Insider’s TD Bank Checking Account review.
TD Bank Choice Promotional CD
TD Bank Choice Promotional CD
Annual Percentage Yield (APY)
0.05% to 5.00%
Minimum Deposit Amount
$250
- $250 minimum opening deposit
- Standard term options
- Solid interest rate compared to other brick-and-mortar banks
- High early withdrawal penalties
Product Details
- Terms range from 3 months to 5 years
- Earn 0.05% to 1.00% APY, or 0.05% to 5.00% APY if qualify for a relationship bump rate when you also have an eligible checking account
- Early withdrawal penalties: All interest earned for terms under 90 days; 3 months of interest on terms between 90 days and 1 year; 6 months of interest on terms between 1 year and 2 years; 9 months of interest on terms between 2 years and 3 years; 1 year of interest on terms between 3 years and 4 years; 18 months of interest on terms between 4 years and 5 years; 2 years of interest on terms 5 years or longer
- Interest compounded and deposited monthly
- FDIC insured
TD Bank No-Catch CD
TD Bank No-Catch CD
Annual Percentage Yield (APY)
0.05%
Minimum Deposit Amount
$250
- One penalty-free withdrawal per term
- $250 minimum opening deposit
- Low interest rates
- Only two terms to choose from
Product Details
- Two terms: 6 months and 12 months
- If you withdraw funds, you still must leave at least $250 in the account to keep it open
- Interest compounded and paid monthly
- Member FDIC
TD Bank Step Rate CD
TD Bank Step Rate CD
Annual Percentage Yield (APY)
0.05% to 0.15%
Minimum Deposit Amount
$250
- Interest rate increases every year
- You can make a partial or total penalty-free withdrawal on each anniversary
- $250 minimum opening deposit
- Low interest rates
- Only two terms to choose from
- High penalties if you withdraw money outside of an anniversary
Product Details
- Two terms: 3 years and 5 years
- If you withdraw funds, you still must leave at least $250 in the account to keep it open
- Early withdrawal penalties: You can withdraw money on each anniversary with no penalty; otherwise, the penalty is 12 months interest for the 3-year term and 24 months interest for the 5-year term
- Interest compounded and paid monthly
- Member FDIC
TD Bank CD rates are relatively low overall, with the exception of a few terms. It also has a no-penalty CD and a step-up CD, though, so TD is a good choice if you want a variety of options.
TD Bank Auto Loans
TD Bank Auto Loans
Regular Annual Percentage Rate (APR)
Undisclosed
Recommended Credit
Undisclosed
Loan Amount Range
Undisclosed
- Easy to find where dealers are nearby
- Refinancing, lease buyouts unavailable
- Only provides funding at partner dealerships
- Doesn’t disclose loans terms, rates, fees, or eligibility criteria
Product Details
- TD Bank is an indirect lender, meaning it only finances cars purchased through dealerships
- Use the company’s website to find partner dealerships close to you
- Available in all 50 states
TD Bank is an indirect lender, so you won’t be able to get an auto loan directly from the financial institution. Information about auto loans term, rates, and fees isn’t available online. You’ll have to find a dealership partner to learn more about TD Bank auto loans.
See Insider’s TD Bank auto loans review.
TD Bank Personal Loans
TD Bank Fit Loan
Regular APR
8.99% to 23.99%
Loan Amount Range
$2,000 to $50,000
- Fast funding
- No origination fees or prepayment penalties
- Competitive rates
- Wide range of loan amounts
- 24/7 customer service
- Only available to borrowers in certain states
- Late fee
- No cosigned loans available
Product Details
- Loan amounts range from $2,000 to $50,000
- The late fee is 5% of the minimum payment due or $10, whichever is less
- Term lengths are between 36 to 60 months
TD Bank has unsecured personal loans called Fit Loans. You may qualify for a Fit Loan if you live in a state that has a TD branch. Loan amounts range from $2,000 to $50,000.
See Insider’s TD Bank personal loans review.
TD Bank Mortgages
TD Bank Mortgages
Types of Loans Offered
Conforming, FHA, VA, construction, jumbo, Medical Professional, TD Right Step, TD Home Access, home equity loan, HELOC
- Wide range of mortgage options
- Offers affordable loan programs with flexible credit requirements
- Easily explore customized rates
- Only available in 15 states and Washington, DC
- Lender fees aren’t listed online
Product Details
- Offers mortgages in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, DC.
- Minimum credit score and down payment displayed are for conforming mortgages
TD Bank may be a solid choice if you’re looking for a variety of home loans. The bank has conforming loans, FHA loans, VA loans, construction loans, jumbo loans, Medical Professional mortgages, TD Right Step mortgages, TD Home Access mortgages, home equity loans, and HELOCs.
See Insider’s TD Bank mortgage review.
TD Bank Credit Cards
TD Double Up℠ Visa Credit Card
Intro APR
0% intro APR on balance transfers for first 15 billing cycles
Regular APR
19.74%, 24.74% or 29.74% variable
Recommended Credit
Good to Excellent
- Earns unlimited 2% cash back on purchases
- Good intro APR on balance transfers
- No annual fee
- Other no-annual-fee cash-back cards offer better welcome bonuses
- Intro APR isn’t valid for purchases
- Foreign transaction fees
Product Details
- The information related to the TD Double Up℠ Credit Card has been collected by Business Insider and has not been reviewed by the issuer.
- Earn $100 cash back as a statement credit after spending $1,000 within the first 90 days of account opening
- Enjoy a 0% intro APR for 15 months from account opening for balance transfers and then 19.74%, 24.74% or 29.74% variable APR
- Earn 2% cash back on all purchases
- $0 annual fee
TD Bank also offers several types of credit cards, including secured credit cards, travel credit cards, and cash back credit cards.
The TD Double Up℠ Visa Credit Card is notably listed in our guide for the best 2% cash back credit cards as a top pick for TD Bank customers.
How TD Bank Works
TD Bank is a brick-and-mortar financial institution on the East Coast with over 1,100 branches and 2,600 free ATMs. Branches are accessible in the following states:
- Connecticut
- Delaware
- Florida
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Pennsylvania
- Rhode Island
- South Carolina
- Vermont
- Virginia
- Washington, DC
Customer service is available 24/7 over the phone. Branches are open on weekdays, some are also open on Saturdays, and others are open seven days per week.
The bank’s mobile app has received 4.8 out of 5 stars in the Apple store and 4.2 out of 5 stars in the Google Play Store.
TD Bank is FDIC-insured, which means you may safely keep up to $250,000 in an individual bank account.
Is TD Bank Trustworthy?
In our TD Bank review, we including ratings from the Better Business Bureau. The BBB grades companies based on how they deal with customer issues.
TD Bank has an A+ rating from the BBB. Bear in mind a good BBB rating isn’t necessarily the be-all and end-all. Consider talking to current customers or reading online customer reviews to get a well-rounded perspective of TD Bank.
TD Bank has been involved in one recent public controversy. In 2020, the US Bureau of Consumer Financial Protection required TD Bank to pay $122 million in a settlement that accused the bank of charging customers a Debit Card Advance service without their permission.
TD Bank Review vs. Citizens Bank Review
Citizens Bank has more than 1,200 branches and 3,300 ATMs along the East Coast and Midwest. It has locations in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, DC.
You might prefer Citizens Bank over TD Bank if you’re searching for more savings account options. Citizens Bank has a personal money market account while TD Bank doesn’t.
Citizens also might be worth considering for auto loans if you live in Connecticut, Massachusetts, or Rhode Island. The bank is piloting an auto loan program in these areas right now.
TD Bank may be a better choice if you’re searching for more options for home loans. For example, TD Bank offers a physician home loan.
TD Bank Review vs. Bank of America Review
Bank of America has 4,200 branches in 37 states and DC, while TD Bank has around 1,100 branches in 15 states and DC. Bank of America could be a better option if you want a larger branch network.
You might prefer TD Bank if you’re looking for more options for home loans. Bank of America doesn’t have home equity loans or construction loans.
TD Bank: Frequently Asked Questions
You may open a TD checking or savings with $0. CDs require at least $250.
TD Bank might a good choice if you prefer traditional brick-and-mortar banks to credit unions or online banks. It is also may be ideal if you want to open bank accounts with low initial deposits, a variety of home loan or personal loan options, or a 2% cash back credit card.
TD Bank lets you open a bank account online or at a local branch.
You will need to share your name, birth date, address, social security number, or tax identification number. If you open an account in person, you’ll need to bring a US ID.
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