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TD Bank has long customer service hours and bank accounts with low minimum opening deposits. You also might like TD Bank if you're searching for a variety of home loan options.
TD Bank: Overall Bank Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Personal bank accounts | 3.5 to 4 |
| Auto loans | 1.75 |
| Personal loans | 4 |
| Mortgages | 4.5 |
| Credit Cards | 3.55 (only for the TD Double Up℠ Visa Credit Card ) |
| Trustworthiness | 4 |
| Total | 3.75 |
TD Bank: Pros and Cons
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Compare Today's Rates
About TD Bank
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
In March 2024, TD announced a new checking account — TD Complete Checking — to streamline the bank's checking account options. TD Convenience Checking, TD Simple Checking, and TD 60 Checking will no longer be available for customers to open. These checking accounts will be grandfathered, which means existing customers will still have the same features and benefits, and there won't be service interruptions as long as you maintain your account.
TD Bank has also released a new feature for all checking and savings account customers. Customers can now get eligible direct deposits up to two business days early.
TD Bank is FDIC-insured, which means you may safely keep up to $250,000 in an individual bank account.
TD Bank Digital and Mobile Banking Experience
TD Bank is ranked highly in online banking satisfaction. According to the J.D. Power 2023 U.S. Online Banking Satisfaction Study, TD Bank placed second overall among national banks.
The TD Bank mobile app has mixed ratings, though. TD Bank ranks lower than the study average in a J.D. Power 2023 U.S. Banking Mobile App Satisfaction Study. However, the bank's mobile app has received 4.8 out of 5 stars in the Apple store, with over 247,000 reviews, and 4.1 out of 5 stars in the Google Play Store based on 84,400 reviews.
The TD Bank mobile app experience includes standard mobile app features as well as unique perks.
Similar to most other banking apps, you'll be able to make mobile check deposits and make bill payments. You'll also be able to receive 24/7 live customer support, set customizable alerts, and request a new temporary debit card limit.
TD Bank Customer Service and Support
TD Bank customer service is available 24/7 by phone or live chat. The bank's branches are open on weekdays. Some are also open on Saturdays, and others are open seven days per week.
Something to keep in mind is that TD Bank has a unique holiday banking schedule. Bank locations remain open on President's Day and Indigenous People's Day, which are federal holidays when most banks are closed.
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, and TD Bank has an A rating from the BBB.
In 2023, the bank had to pay $1.2 billion in a settlement that claimed the bank was involved in a Ponzi scheme started by Robert Allen Stanford, the former chairman of Stanford International Bank. TD Bank provided correspondent banking services to Stanford International Bank.
TD Bank FAQs
TD Bank stands out from other banks if you're interested in a brick-and-mortar banking experience and want bank accounts with low initial deposits, a variety of home loans or personal loan options, or a 2% cash back credit card.
Yes. TD Bank accounts have monthly service fees and some have overdraft fees to be mindful of.
TD Bank's mobile app has mixed ratings. It received 4.8 out of 5 stars in the Apple store based on over 247,000 ratings. It also has 4.1 out of 5 stars in the Google Play store with over 84,400 reviews. TD Bank ranks lower than the average according to a J.D. Power 2023 U.S. Banking Mobile App Satisfaction Study, though.
TD Bank Personal Bank Accounts
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TD Simple Savings Account
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TD Signature Savings
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TD Bank Essential Banking
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TD Bank Complete Checking
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TD Bank Beyond Checking Account
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TD Bank Choice Promotional CD
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TD Bank No-Catch CD
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TD Bank Step Rate CD
TD Simple Savings Account
$5 monthly service fee
0.02%
$0
$200
- 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
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 monthly service fee. Ultimately, you can find much better rates with the best online banks.
TD Bank- Earn $200 when you deposit at least $10,000 within the first 20 days and maintain at least a $10,000 balance for 90 additional days from the 20th day after account opening (offer expires March 31, 2025)
- 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
$15 monthly service fee
0.01% to 4.00%
None
$200
- 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
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. Ultimately, you can find much better rates with the best online banks.
TD Bank- Earn $200 when you deposit at least $10,000 within the first 20 days and maintain at least a $10,000 balance for 90 additional days from the 20th day after account opening (offer expires March 31, 2025)
- 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 of $10,000 or more
- 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.
If you have a personal or business checking account, you'll also need to meet additional requirements to qualify for a "relationship rate" — either receive a monthly direct deposit or make at least three deposits, withdrawals, payments, or transactions monthly.
Both the TD Simple Savings Account and TD Signature Savings come with a savings account bonus. You can earn up to $200 if you open a new account and meet the bonus requirements. This offer ends on October 31, 2024.
See Business Insider's TD Bank Savings Rates Review.
TD Bank Essential Banking
$4.95 monthly service fee
None
$0
- No minimum opening deposit
- No overdraft fees
- TD Early Pay (direct deposits up to 2 business days early)
- Possible to waive the monthly service fee
- $4.95 monthly maintenance fee
- $3 non-TD ATM fee
- No checks
- Access to 1,100 branch locations and over 2,600 ATMs
- To waive the monthly service fee, you must be between the ages of 13 through 17
- Member FDIC
TD Bank Complete Checking
$15 monthly service fee
None
$0
$200
- No minimum opening deposit
- TD Early Pay (qualifying direct deposits up to two business days early)
- Possible to waive the monthly maintenance fee
- Overdraft options available
- No ATM fees if you’re between the ages of 17 through 23
- $15 monthly service fee
- $35 overdraft fee
- $3 for non-TD ATMs unless you qualify for waived fees
You might like one of TD Bank' primary checking accounts if you prefer banking face-to-face and live near a branch along the East Coast.
TD Bank Complete Checking- Earn $200 when you have $500 in qualifying direct deposits within 60 days (offer expires October 31, 2024)
- Access to 1,100 branch locations and over 2,600 ATMs
- TD Complete Checking has no monthly fee if you're a student or young adult between the ages of 17 through 23
- Monthly service fee can also be waived if you meet one of the following criteria each month: receive direct deposits of $500 or more; maintain a minimum daily balance of $500 or more or maintain a $5,000 minimum daily combined balance across linked personal bank accounts
- Overdraft protection options: Grace Period offers overdraft fee refunds when you restore your account balance by 11 p.m. ET the next business day; Savings Overdraft protection lets you link a savings account to cover overdrafts
- Member FDIC
TD Bank Beyond Checking Account
$25 monthly service fee
0.01%
$0
$300
- TD Early Pay (qualifying direct deposits up to two business days early)
- 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
You might like one of TD Bank's primary checking accounts if you prefer banking face-to-face and live near a branch along the East Coast.
TD Bank Beyond Checking Account- Earn $300 when you have $2,500 in qualifying direct deposits within 60 days (offer expires October 31, 2024)
- 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 Business Insider's TD Bank Checking Account review.
TD Bank Choice Promotional CD
1.00% to 4.50%
$250
- $250 minimum opening deposit
- Standard term options
- Solid interest rate compared to other brick-and-mortar banks
- High early withdrawal penalties
TD Bank Choice Promotional CDs are good options if you want a 6-month or 12-month term, and if you also have a personal checking account so you can earn the higher relationship bump rate on those two terms. Otherwise, you can earn much higher rates at other banks.
TD Bank Choice Promotional CD- Terms range from 3 months to 5 years
- Earn 1.00% APY, or 2.25% 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
0.05%
$250
- One penalty-free withdrawal per term
- $250 minimum opening deposit
- Low interest rates
- Only two terms to choose from
A TD Bank No-Catch CD is a decent option if you want to use a brick-and-mortar bank, because it has a low minimum deposit. But if you’re open to online banking, you’ll find significantly higher rates on no-penalty CDs elsewhere.
TD Bank No-Catch CD- 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
0.05% to 0.15%
$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
TD Bank Step Rate CDs are better options than the bank’s Promotional 3-year and 5-year terms, because you’ll earn more in interest over time. But if your goal is to earn a high interest rate, you can find much higher rates on step-up CDs at other institutions.
TD Bank Step Rate CD- 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.
See Business Insider's TD Bank CD Rates Review.
TD Bank Auto Loans
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.
TD Bank Personal Loans
8.99% to 23.99%
$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
- 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 Business Insider's TD Bank Personal Loans Review.
TD Bank Mortgages
620
3%
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
- 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 Business Insider's TD Bank Mortgage Review.
TD Bank Credit Cards
$0
0% intro APR on balance transfers for first 15 billing cycles
19.74%, 24.74% or 29.74% variable
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
- 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 Compares
TD Bank vs. Chase
You might prefer Chase Bank if you want a large branch network. It has branches in every U.S. state except Alaska and Hawaii.
Chase has multiple checking accounts to choose from, and depending on which one you choose, you can earn bonuses as high as up to $3,000. Still, TD Bank makes it easier to waive monthly service fees on its checking accounts.
For savings accounts, it's a toss-up between the two banks since their accounts have similar features. The requirements for waiving the monthly service fee are nearly identical. Your best option might ultimately hinge on which bank's branches are closer to your home.
TD Bank vs. Bank of America
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.
Is TD Bank Right for You?
TD Bank might be 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.
If you don't meet the requirement to waive monthly service fees on TD Bank, other banks have fee-free bank accounts that may be a better fit. You should also consider other options if you want to open one of the best high-yield savings accounts or are looking for high CD rates.
Why You Should Trust Us: How We Reviewed TD Bank
For our TD Bank review, we rate bank products and services using our our editorial standards. At Business, we rate products on a scale from zero to five stars. We compare and contrast the features and fine print of various products to help determine if the account may be right for you.
For example, while reviewing a TD Bank checking account, we used our bank account methodology to examine specific account features like opening requirements, monthly service fees, overdraft protection, ATM network availability, and ATM fees. Meanwhile, for credit cards, we look at features such as annual fees and rewards rates and for loans and mortgages, we examined criteria, including (but not limited to) fees and term options.
