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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.
APY = Annual Percentage Yield
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.
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% |
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.
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 |
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.
Pros
Cons
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.
TD Bank also offers these other types of CDs:
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.
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.
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
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