TD Bank savings account review

“Interested in discovering all the features of TD Bank’s savings account? Responsible Economy thoroughly analyzes the fees, requirements, yields, and all the conditions that Barclays offers in its savings account. We also provide a detailed comparison with the best savings accounts you can open in the United States, along with an explanatory video to guide you through the process.”

Explicative video

We’ve created a concise and easy-to-understand video that covers all the key features of the TD Bank savings account. If you find our content helpful, please consider supporting us by subscribing. By subscribing, you’ll receive daily videos from us, ensuring you stay up-to-date with valuable financial information.


In this section, we provide an overview of the features of the TD Bank savings account:

Interest rate

TD Bank savings account rates

The interest rate on the TD Bank savings account depends on the account balance. It ranges from a minimum of 0.01% APY to a maximum of 3.51% APY.


TD Bank savings account fees

There is a monthly fee of $15 for the TD Bank savings account unless you meet one of the following requirements:

  • Maintain a minimum daily balance of $10,000.
  • Link an eligible TD Checking account.
  • Open the account as an IRA.

Minimum deposit

You can open the TD Bank savings account without any minimum initial deposit.


Access to TD Bank ATMs allows you to withdraw money from your account without incurring any commission fees.

Deposit funds

You can deposit funds into the savings account through bank transfers or by mailing a check.


To make a withdrawal, you need to initiate a bank transfer from your TD Bank savings account to the desired account.

Best savings accounts 2023

We have conducted a comprehensive comparison of the TD Bank savings account with the best savings accounts available in the United States In this analysis, we highlight the key features of each savings account to help you make an informed decision

CIT Bank Logo
  • 4.05% APY
  • Minimum deposit: $100
  • No welcome bonus
  • Member FDIC
Marcus by Goldman Sachs
  • 4.30% APY
  • Minimum deposit: $0
  • Welcome bonus: $100
  • Member FDIC
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo Sofi
  • 4.50% APY
  • Minimum deposit: $0
  • Welcome bonus: $250
  • Member FDIC
Barclays Logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo capital One CDs
  • 4.30% APY
  • Minimum deposit: $0
  • Member FDIC
  • No welcome bonus
Discover logo
  • 4.30 APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC

Savings accounts calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

TD Bank savings account calculator

TD Bank savings account calculator

Your earnings:
Total Result:

Video with the best savings accounts

We also have made a video with the best savings accounts:

Pros and cons

Once we have seen all the features of the TD Bank savings account and analyzed the main characteristics of the best savings accounts, we are in a position to see a table with all the advantages and disadvantages:

Minimum deposit $0Fees up to $12 per month
Interest rate up to 3.51% APYLow interest rates with small amounts of money..
Pros and cons TD Bank savings account


Opening the TD Bank savings account is a straightforward process, and you only need to fulfill the following simple requirements:

  • Age: You must be over 18 years old to be eligible for the account.
  • Residency: You should be a resident of the United States.
  • Contact Information: Having an American phone number is required for communication purposes.


Indeed, when opening a TD Bank savings account or any other financial account, the institution may require additional documentation to verify your identity and address. These may include:

  • Certified Copy of Identity Document: In most cases, a current, valid passport is commonly accepted as proof of identity. However, some other types of identification documents may be acceptable, depending on the bank’s policies and regulations.
  • Certified Copy or Original Proof of Address: To confirm your residential address, you can provide a certified copy or an original utility bill, bank statement, or building society statement. These documents should display your name and address and should be recent to ensure accuracy.
  • Signed Client Agreement: The bank may require you to sign a client agreement, which is a formal contract outlining the terms and conditions of your savings account.

Frequent questions

Here we answer all the questions you may have:

Conclusions and opinions

After carefully reviewing all the information, our conclusion is that TD Bank does not offer a competitive savings account. The main reason is that they charge a $12 monthly commission if you fail to meet specific requirements, and to qualify for the maximum compensation, you need to maintain a balance in the account exceeding $250,000.

More information about TD Bank

Here you have interest information about TD Bank:

information about TD Bank

Finally you have a related posts about savings account:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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