TD Bank certificate of deposit review

Would you like to read a comprehensive review of TD Bank’s certificate of deposit? Responsible Economy has conducted a thorough analysis of its various features, including the interest rate, terms, fees, and everything you need to know. Additionally, we provide a comparison of the top certificates of deposit in the United States in 2023, along with an explanatory video. Welcome!

Explicative video

We have created a video that provides a concise summary of all the features of TD Bank’s Certificate of Deposit. If you enjoy our content, we encourage you to show your support by subscribing to our channel. By subscribing, you will receive daily videos from us. Thank you!

Features

In this section, we provide a detailed breakdown of each characteristic:

Interest rate

The interest rate of the certificates of deposit varies according to the terms chosen. Here is a table with the different terms and interest rates:

TermsYields
6 months3.51% APY
9 months4.50% APY
12 months3.75% APY
Terms and yields
TD Bank certificate of deposit rates

TD Bank’s Certificate of Deposit interest rates are not competitive compared to other banks offering rates of up to 5.25% APY. Currently, interest rates in the United States are quite high, presenting a potentially advantageous opportunity.

Fees

When considering a certificate of deposit, it’s important to always review the annual or monthly maintenance fees. The TD Bank Certificate of Deposit stands out as it does not have any maintenance fees, making it free to open and maintain.

Minimum deposit

To open the TD Bank Certificate of Deposit, a minimum deposit of $250 is required.

Best certificate of deposit in 2023

We have compiled a ranking of the best certificates of deposit available for opening in the United States in 2023:

Logo capital One CDs
  • 5.25% APY
  • Minimum deposit: $0
  • Term: 18 months
  • Member FDIC
Marcus by Goldman Sachs
  • 5.10% APY
  • Minimum deposit: $500
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 5.00% APY
  • Minimum deposit: $1,000
  • Term: 6 months
  • Member FDIC
synchrony-bank-logo
  • 5.40% APY
  • Minimum deposit: $0
  • Term: 16 months
  • Member FDIC
Alliant Logo
  • 5.18% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 5.15% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 5.15% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 5.25% APY
  • Minimum deposit: $1,000
  • Term: 13 months
  • Member FDIC

Certificates of deposit calculator

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

TD Bank certificate of deposit calculator

TD Bank certificate of deposit calculator

Your earnings:
Total Result:

Pros and cons

After thoroughly examining the features of the TD Bank certificate of deposit and comparing it with other top CDs in the United States, we have compiled a table highlighting the advantages and disadvantages of the TD Bank CD:

ProsCons
No feesThere are CDs with higher interest rates
Minimum deposit $250
Pros and cons TD Bank certificate of deposit

Requirements


To open the TD Bank certificate of deposit, you must meet the following requirements:

  • Residency: You need to be a resident of the United States.
  • Age: You must be at least 18 years old.
  • Social Security Number: You should have a valid Social Security Number.
  • American Account Number: You need to have an active American account number to facilitate the deposit and withdrawal of funds.

Conclusion

Based on our review, we have concluded that TD Bank’s certificate of deposit may not be considered competitive due to its comparatively low interest rate and the requirement of a minimum deposit of $250. When compared to the best certificates of deposit available in the market, TD Bank’s offering may not provide the same level of potential return on investment. It is recommended to explore other options and compare interest rates, terms, and minimum deposit requirements to find a certificate of deposit that better aligns with your financial goals and preferences.

Frequent questions

Now we answer all the questions you may have about the TD Bank certificate of deposit:

More information about TD Bank

Here is a table with information of interest about TD Bank:

InformationDescription
Websitehttps://www.td.com
Twitterhttps://twitter.com/TDBank_US
Facebookhttps://www.facebook.com/TDBank
YouTubehttps://www.youtube.com/user/TDBankUS
Interest information about TD Bank

Finally, we show you related content about certificates of deposit:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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