![]() Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. ![]() But you’ll want to make certain you can avoid the monthly maintenance fees. You may consider a TD Bank savings account if you like branch banking. While TD Bank savings account interest rates are on par with what you’ll find at other large traditional banks, you could get a better rate on savings deposits at an online bank. TD Bank gives you multiple ways to save and earn interest, with no minimum opening deposit required. The rates on TD Bank CDs are not as competitive as what you’ll find at online banks or even some other traditional banks. ![]() The shortest CD term is three months, while the longest CD term is five years. TD’s options include standard CDs, promotional CDs, no-penalty CDs and step-rate CDs. In addition to savings accounts, TD Bank offers certificate of deposit (CD) accounts as a savings alternative. The best online banks offer savings rates that are much more competitive. In general, conventional brick-and-mortar banks like TD tend to offer meager rates on interest-bearing accounts. TD Bank savings account interest rates are similar to what you’d get from other big traditional banks-meaning the APYs are relatively low, even if you qualify for a relationship rate bump. Just plug in your initial deposit, monthly contribution and the account’s corresponding APY to see how much you could earn over a specific number of months or years. Use the below savings calculator to see how money much you could earn with a higher balance and higher rate on Signature Savings account. You could do somewhat better with a Signature Savings account. If you’re earning the flat APY of 0.02% with a TD Simple Savings account, the interest won’t add up to much. TD Bank compounds and pays savings account interest on a monthly basis. The bank is willing to waive the fees if you maintain a minimum balance or meet other requirements. ![]() The fee is $5 for Simple Savings and $15 for Signature Savings. The monthly cost of a TD Bank savings account depends on the account you choose. Rates on Signature Savings start at a mere 0.01% APY, but you’ll earn higher rates when you maintain a larger balance and/or qualify for a relationship rate bump if you have another account at TD. With Simple Savings, you’ll earn 0.02% APY, regardless of how much money you keep in the account. You can avoid the $15 fee for Signature Savings by maintaining a $10,000 minimum daily balance, linking an eligible TD checking account or opening your savings account as an IRA. The daily balance required to sidestep the $5 fee for Simple Savings is $300 The fee also is waived if you’re age 18 or younger, or 62 or older. You will need to keep a minimum daily balance to avoid the monthly service fees on TD Bank savings accounts. That could make TD attractive if you’re just getting started with saving. TD Bank does not have a minimum deposit requirement for either of its savings accounts. If you’re considering a TD savings option, it’s helpful to know the basic requirements. But the yields on the accounts fall short of the rates offered by online banks. TD Bank operates more than 1,100 branches in the U.S., so you may be able to open a savings account in person if you prefer branch banking. ![]()
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