Skip to Main Content
CDs

TD Bank CD rates

TD bank logo
Image by Getty Images; Illustration by Tiffany Herring
Written by
Libby Wells
  • /
  • 2 min read
Edited by
Brian Beers
  • /
  • 2 min read
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

Bankrate Logo

Why you can trust Bankrate

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.

Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.

Bankrate Logo

Editorial Integrity

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Here is a list of our banking partners.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.

Bankrate Logo

Insurance Disclosure

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states were it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

TD Bank offers a variety of terms on its certificates of deposit, a boon for consumers looking to build a CD ladder. The interest rates vary slightly depending on what type of CD you choose, but even its top offering pales in comparison to the best CD rates. TD Bank’s CD rates are below Bankrate’s national average.

TD Bank has a tiered-rate structure for its CDs, but rates are currently the same regardless of the amount deposited. The bank’s highest CD rates are part of a step-rate program that raises the rate each year.

TD Bank earned a 3.5 out of 5 in Bankrate’s overall rating of the bank, and its CDs earned 3 out of 5 stars.

TD Bank CD rates

TD Bank offers standard Choice Promotional CDs, Choice Promotional CDs with a bump rate, Step Rate CDs and TD No-Catch CDs. Each comes with a range of term options. TD Bank’s CDs may not be available in all markets.

Here’s a look at TD Bank’s CD rates:

These are the rates for TD Bank’s Choice Promotional CDs.

Account Term Standard rate Relationship Bump Rate Minimum deposit to earn APY
TD Choice Promotional CD 3 months 0.05% 0.05% $250
TD Choice Promotional CD 6 months 0.05% 0.05% $250
TD Choice Promotional CD 9 months 0.05% 0.05% $250
TD Choice Promotional CD 1 year 0.05% 0.05% $250
TD Choice Promotional CD 18 months 0.05% 0.05% $250
TD Choice Promotional CD 2 years 0.05% 0.05% $250
TD Choice Promotional CD 3 years 0.05% 0.05% $250
TD Choice Promotional CD 5 years 0.05% 0.05% $250

TD Bank’s bump rates are for customers who have an eligible TD checking account.

TD Bank also offers a Step Rate CD. The account starts out paying the same APY as Choice CDs but increases 5 basis points each year for the length of the CD term. (Five basis points equal 0.05 percent.) Two term options are offered: three and five years. Step Rate CDs also allow customers to make one penalty-free withdrawal within 10 calendar days of the anniversary date of opening the account.

These are the composite yields for Step Rate CDs at TD Bank.

Account Year Composite APY Minimum opening deposit
TD Step Rate CD 3 years 0.10% $250
TD Step Rate CD 5 years 0.15% $250

Note: Annual percentage yields (APYs) shown are as of June 20, 2022, and may vary by region for some products.

How TD Bank CD rates compare to top-yielding banks

Some of TD Bank’s CDs might be worth considering if you live near a TD Bank store or have a checking account at TD Bank, but TD Bank’s CD rates fall well short of those offered by online bank competitors.

Choosing a highly rated online bank that’s insured by the Federal Deposit Insurance Corp. (FDIC) can be a way to get a higher APY and to keep your money safe in case of a bank failure. Just make sure your money is within FDIC limits and guidelines.

Consider a bank that offers consistently higher rates, such as Marcus by Goldman Sachs or Ally Bank. Though there are other online banks that might offer higher APYs than Marcus and Ally.

Other savings options at TD Bank

TD Bank offers a no-catch CD, which allows one penalty-free withdrawal per term.

TD Bank also offers savings accounts and a money market account. Both offer relatively uninspiring interest rates.

Written by
Libby Wells
Contributing writer
Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications.
Edited by
Brian Beers
Senior wealth editor

You may also like