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TD Bank Review

TD Bank Review

TD Bank Review


TD Bank is one of the largest banks in the United States by assets. It has 1,220 stores on the East Coast of the United States, with operations in 15 states and Washington, D.C. The bank has a history of more than 150 years, serving 9.5 million customers.

TD Bank offers some interesting features and benefits. If you’re looking for a new bank account or looking to move your personal banking elsewhere, TD Bank may be a good choice.

Learn more about how TD Bank can support your personal financial goals. This review focuses on TD Bank Personal Banking.

Account details and Annual Return (APY) are correct as of April 6, 2021. TD Bank product details, rates and fee information may vary by location. For this review, we used the bank’s New York location.

Account Basics

Take an exam

TD Bank offers five checking accounts with different benefits and features.

TD facilitates inspection. This is the standard checking account that banks use for everyday banking. The $15 monthly maintenance fee is waived if you have a minimum daily balance of $100. There is also no monthly maintenance fee for students aged 17-23. With this account, you can get a debit card, online and mobile banking services, mobile checking deposits, overdraft protection on a connected TD Bank savings account, a mobile phone for sending money, discounts on TD Bank personal and home equity loans, and other available options. Features to help manage your financial life.

TD is beyond review. This is a checking account with more privileges and features than convenience checking, but you must have a more significant banking relationship with TD Bank to make it worthwhile. There is a monthly maintenance fee of $25 for this account. However, the fee is waived if you make direct deposits of $5,000 or more per month, have a daily account balance of at least $2,500, or have a combined balance of $25,000 across multiple TD Bank accounts. Eligible TD Beyond checking account customers also receive additional benefits such as free ATM transactions at non-TD Bank ATMs, free overdraft fees twice a year, and free standard checks. The Beyond checking account also pays interest, but the APY is currently 0.01%.

TD 60 Plus exam. This account is designed for people 60 and older. It offers interest (0.01% APY), free checks, and no monthly fees if your daily minimum balance is $250.

TD Student Check. The TD Bank Student Chequing Account offers special benefits for students and young adults ages 17-23, such as: B. No monthly fees and no minimum deposits.
TD Simple Exam. If you want a basic checking account and are willing to pay the $5.99 monthly fee, the account offers debit cards, online banking, and other everyday checking account features with no minimum balance requirements.
Regardless of your age and banking needs, TD Bank offers simple checking account options along with useful features and benefits.


TD Bank offers some savings accounts with different APYs based on your minimum balance and overall banking relationship.

  • TD saves easily. This savings account pays 0.02% APY. There is a $5 monthly maintenance fee for this account, which the bank will waive if you maintain a daily balance of at least $300 or link your savings account with an eligible TD Bank checking account.
  • TD goes beyond saving. This savings account offers a “relationship bump” rate. You will receive a slightly higher APY if you have a banking relationship with TD Bank and link other eligible accounts to your savings account. Beyond Savings requires a minimum daily balance of $20,000; to earn 0.15% APY, a minimum daily balance of $250,000.

TD Bank offers a higher APY to encourage customers to open multiple accounts and do more banking through them. Yet despite the relationship crisis, TD Bank’s savings account rates are still pretty low — well below the rates on the best online savings accounts.

Currency market

The TD Growth Money Market Account is a tiered interest product that pays higher APY for higher balances. You must maintain a balance of at least $2,000 in your account to waive the $12 monthly fee. There’s also no monthly fee if you’re 62 or older.

TD increases the interest rate slightly when you increase your savings by $50 or more per month. Standard account rates are between 0.01% and 0.05% APY, depending on account balance. Under the relationship boost rate, the account pays 0.01% to 0.10% APY based on the account balance.


TD Bank offers certificates of deposit (CDs) with terms ranging from three months to five years. APY varies by CD type, term and deposit amount. In addition to the TD Choice promotional CD, TD Bank offers two other CD options:

TD No Catch CD. This CD gives you one free payment per semester. If you want more flexibility in deciding when you can withdraw funds from a CD, this CD might be a good choice. However, the APY is only 0.05%, which is not much better than the savings account at TD Bank. Available periods are 6 and 12 months.

TD Cadence CD. This CD gives you free fines on every anniversary of your CD account opening and guarantees your APY increase every year. You can register for three or five years. The five-year TD Step Rate CD gives you the best APY of 0.15%.

While TD Bank has some interesting options for certain types of CDs, their APYs are much lower than the best CD courses. If you want to get the best APR on your savings, other banks or credit unions can help you get more returns on your savings.

Other banking products

In addition to personal deposit accounts, TD Bank offers its customers the following banking products and services:

  • Home equity loans and lines of credit
  • Credit cards
  • Mortgages
  • IRAs
  • Personal loans
  • Debit cards
  • Small business products and services
  • Prepaid cards
  • Investing and wealth management for individuals, families and businesses
  • Commercial lending and treasury services.

Salient features

TD Bank frequently offers promotional offers to new customers, offering cash incentives for signing up for certain accounts.

In addition, Bank is positioned as a brand that is more convenient and “unexpectedly user-friendly” than other banks. The bank provides customer service 24 hours a day, 365 days a year through its mobile app, website or by phone at 1-888-751-9000. The bank is also encouraging customers to get in touch with customers via Facebook Messenger and Twitter. Bank branches are open on Saturdays and Sundays to make banking more convenient for people on weekends.

Access anytime, anywhere

Bank offers more than 1,200 locations and more than 700 ATMs. The TD Bank mobile app has a 4.8-star rating on the App Store and a 4.6-star rating on Google Play. Key features of the TD Bank mobile app include:

  • Mobile Check Deposit
  • Peer-to-peer payments with Cell
  • online payment
  • Check account balance
  • Transfers between accounts
  • TD ASAP Live Customer Service (available 24/7)

TD Bank Cards are also compatible with digital wallets. So if you happen to be traveling without a debit card, you can still pay with your mobile device.


  • Highly rated mobile app
  • 24/7 customer service across multiple channels
  • Convenient Bank Branch Weekend Hours
  • Current Accounts for Students and Seniors
  • Different types of CDs available


  • Savings accounts, money market accounts, and CDs have lower APYs
  • Monthly fees for some of his accounts

How TD Bank is doing

Like many other large banks, TD Bank currently operates in a near-zero interest rate environment, making it difficult to offer very attractive APYs on savings accounts, money market accounts, and CDs. If you want a higher APY for your savings, consider using an online bank or credit union.

However, if you want the convenience and accessibility of banking at large regional banks across the East Coast, TD Bank offers some valuable features and benefits. The mobile app is highly rated and designed for everyday banking. It offers convenient features such as digital wallet compatibility, mobile check deposits, and the ability to send money using your mobile phone.

TD Bank is a full-service bank that offers loans, credit cards and other financial products. If you have their checking account, it can allow you to get better deals on personal loans, mortgages, or other financial accounts. It prioritizes customer service and makes it easy to reach customer service via in-app communication, social media channels, and email or phone.

This East Coast bank is worth considering for your personal banking needs.

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