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TD Bank savings account rates

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TD Bank offers two savings account options. One of the accounts can be linked to another eligible TD Bank account to earn the highest interest rate offered, tiered to the account’s balance amount, but the rate is unremarkable.

TD Bank is known for offering good customer service and solid digital banking tools, but if you’re looking for the highest rates, you will want to look elsewhere.

TD Bank earned a 3.5 out of 5 in Bankrate’s overall rating of the bank, while it’s most accessible savings account earned 2.7 out of 5 stars.

TD Bank savings rates

TD Bank’s two savings account choices are the TD Simple Savings and TD Beyond Savings. With Simple Savings, there is a $5 monthly maintenance fee, though the fee is waived with a $300 minimum daily balance or if the account owner is either under 18 or over 62.

The Beyond Savings account charges a $15 monthly fee, which is waived with a $20,000 minimum daily balance. This account also waives non-TD Bank ATM fees.

Here are the interest rates offered on TD Bank’s savings accounts.

Account name Interest rate APY Minimum deposit
TD Simple Savings 0.02% 0.02% $0
TD Beyond Savings 0.01% 0.01% $0

Customers who link another TD Bank account with a Beyond Savings account are eligible for a relationship rate bump. Here are the bank’s tiered interest rates with the rate bump.

Account name APY Minimum daily deposit to earn APY
TD Beyond Savings 0.01% $0.01-$19,999.99
TD Beyond Savings 0.02% $20,000-$49,999.99
TD Beyond Savings 0.03% $50,000-$99,999.99
TD Beyond Savings 0.04% $100,000-$249,999.99
TD Beyond Savings 0.05% $250,000-$499,999.99
TD Beyond Savings 0.05% $500,000-$999,999.99
TD Beyond Savings 0.05% $1,000,000-$9,999,999.99
TD Beyond Savings 0.05% $10,000,000+

Note: Annual percentage yields (APYs) shown are as of Feb. 17, 2022, and may vary by region for some products.

How TD Bank savings rates compare to top-yielding banks

TD Bank’s Simple Savings account offers almost no interest. The bank’s Beyond Savings account, which requires a linked account and a $250,000 balance to earn the highest rate, pays less than the national average. You can find savings accounts that pay more, especially at an online bank.

For a higher interest rate, consider a competitor like Vio Bank or Citibank. Shop around to find the best rates to meet your savings goals more quickly.

Other savings options at TD Bank

TD Bank offers a money market account that pays less than the top TD Bank savings rate, and the rates offered for its eight terms of standard CDs aren’t much better.

Those looking for an alternative to TD’s low savings rates may want to look elsewhere. Even its highest rate, which requires a linked account and a minimum $250,000 in savings, can be easily beat elsewhere.

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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
Wealth editor