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Fact Checked
Nathan Alderman
If you're in the market for a certificate of deposit (CD), you may want to consider TD Bank for its competitive interest rates. TD Bank offers higher CD interest rates to TD Checking account customers, making it a good choice for those who already bank there.
Keep reading to learn more about how TD Bank CD rates compare to the competition and whether they're right for you.
TD Bank CD rates for 2024
Rates as of May 14, 2024
APY = Annual Percentage Yield
TD Bank CD
Bottom Line
TD Bank offers "bump rates" for select CDs. Customers who already hold another account with TD Bank can earn a higher rate on those CDs; those who don't will earn the lower rate.
MINIMUM DEPOSIT $250.00
| 3 Mo. APY | 6 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|
| 0.05% | 1.00% - 5.00% | 1.00% - 4.75% | 0.05% | 0.05% | 0.05% | 0.05% |
Compare TD Bank CD rates
For non-customers, TD Bank's Standard CD interest rates aren't particularly impressive. But you can qualify for a more competitive APY, known as a "bump rate," if you also have an eligible TD Bank checking account. Here's a look at how its CD rates stack up against its competitors.
Rates as of May 14, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
TD Bank CD review
The CDs offered from TD Bank are a solid choice for those who have an eligible TD Bank checking account. Read below for more details.
TD Choice Promotional CDs
Pros
- Competitive rates for checking account customers
- Low minimum balance
- Decent variety of terms
Cons
- Have to open an eligible TD checking account to qualify for competitive rates
- Low standard APY
- No 4-year CD term
TD Bank's Choice Promotional CDs are designed to benefit the bank's existing customers and attract new ones into the fold. The Bump Rate CDs offer competitive APYs. Plus, the minimum balance requirements are low and customers have a good mix of term options to choose from. Rates and terms may vary by location, so it's best to check TD Bank's website for current rates in your area.
If you don't have an eligible TD Bank checking account, don't worry, as it's easy to open one and start taking advantage of these great products. Of course, if you prefer to stick with your current checking account, you can find CDs at other financial institutions with higher rates.
Other TD Bank CD accounts
TD Bank also offers these other types of CDs:
- TD No-Catch CDs
- TD Step Rate CDs
Who is a TD Bank CD right for?
A TD Bank CD is right for existing TD Bank customers who have an eligible TD Bank checking account and those with at least $250 they can afford to leave untouched for several months.
Bottom line: TD Bank CD rates
Keep reading about TD Bank
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
-
A TD Bank CD can help you grow your wealth, and the variety of terms and low balance requirements make it easy to build a CD ladder.
-
A TD Bank CD is definitely worth it if you have or are willing to open a TD Bank checking account to access the higher rates. Those without a TD Bank checking account may be able to find a better rate elsewhere.
Our Banking Experts
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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