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.