TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (2024)

Personal Finance Banking Savings

Written by Sophia Acevedo; edited by Laura Grace Tarpley; reviewed by Evelyn He

Updated

  • Overall Rating
  • Pros and Cons
  • About TD Bank
  • FAQs
  • Personal Bank Accounts
  • Auto Loans
  • Personal Loans
  • Mortgages
  • Credit Cards
  • How TD Bank Compares
  • Why You Should Trust Us

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.

The information for the following product(s) has been collected independently by Business Insider: TD Double Up℠ Visa Credit Card. The details for these products have not been reviewed or provided by the issuer.

TD Bank: Overall Bank Rating

FeaturePersonal Finance Insider rating (out of 5)
Personal bank accounts3.5 to 4
Auto loans1.75
Personal loans4
Mortgages4.5
Credit Cards3.55 (only for the TD Double Up℠ Visa Credit Card )
Trustworthiness4
Total3.75

TD Bank: Pros and Cons

ProsCons
  • Over 1,100 branches and 2,600 ATMs

  • Low or no minimum opening deposits on bank accounts, and some of the best checking account bonuses

  • Variety of mortgage options

  • Personal loans range from $2,000 to $50,000

  • 24/7 customer service

  • Only available on the East Coast
  • Monthly service fees on bank accounts
  • High CD early withdrawal penalties

Compare Today's Rates

About TD Bank

TD Bank is a brick-and-mortar financial institution on the East Coast with over 1,100 branches and 2,600 free ATMs. Branches are accessible in the following states:

  • Connecticut
  • Delaware
  • Florida
  • Maine
  • Maryland
  • Massachusetts
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Vermont
  • Virginia
  • Washington, DC

In March 2024, TD announced a new checking account — TD Complete Checking — to streamline the bank's checking account options. TD Convenience Checking, TD Simple Checking, and TD 60+ Checking will no longer be available for customers to open. These checking accounts will be grandfathered, which means existing customers will still have the same features and benefits, and there won't be service interruptions as long as you maintain your account.

TD Bank has also released a new feature for all checking and savings account customers. Customers can now get eligible direct deposits up to two business days early.

TD Bank is FDIC-insured, which means you may safely keep up to $250,000 in an individual bank account.

TD Bank Digital and Mobile Banking Experience

TD Bank is ranked highly in online banking satisfaction. According to the J.D. Power 2023 U.S. Online Banking Satisfaction Study, TD Bank placed second overall among national banks.

The TD Bank mobile app has mixed ratings, though. TD Bank ranks lower than the study average in a J.D. Power 2023 U.S. Banking Mobile App Satisfaction Study. However, the bank's mobile app has received 4.8 out of 5 stars in the Apple store, with over 247,000 reviews, and 4.1 out of 5 stars in the Google Play Store based on 84,400 reviews.

The TD Bank mobile app experience includes standard mobile app features as well as unique perks.

Similar to most other banking apps, you'll be able to make mobile check deposits and make bill payments. You'll also be able to receive 24/7 live customer support, set customizable alerts, and request a new temporary debit card limit.

TD Bank Customer Service and Support

TD Bank customer service is available 24/7 by phone or live chat. The bank's branches are open on weekdays. Some are also open on Saturdays, and others are open seven days per week.

Something to keep in mind is that TD Bank has a unique holiday banking schedule. Bank locations remain open on President's Day and Indigenous People's Day, which are federal holidays when most banks are closed.

Is TD Bank Trustworthy?

In our TD Bank review, we including ratings from the Better Business Bureau. The BBB grades companies based on how they deal with customer issues, and TD Bank has an A+ rating from the BBB.

In 2023, the bank had to pay $1.2 billion in a settlementthat claimed the bank was involved in a Ponzi scheme started by Robert Allen Stanford, the former chairman of Stanford International Bank. TD Bank provided correspondent banking services to Stanford International Bank.

TD Bank FAQs

What makes TD Bank different from other banks?

TD Bank stands out from other banks if you're interested in a brick-and-mortar banking experience and want bank accounts with low initial deposits, a variety of home loans or personal loan options, or a 2% cash back credit card.

Are there any fees associated with TD Bank accounts?

Yes. TD Bank accounts have monthly service fees and some have overdraft fees to be mindful of.

How user-friendly is TD Bank's mobile app?

TD Bank's mobile app has mixed ratings. It received 4.8 out of 5 stars in the Apple store based on over 247,000 ratings. It also has 4.1 out of 5 stars in the Google Play store with over 84,400 reviews. TD Bank ranks lower than the average according to a J.D. Power 2023 U.S. Banking Mobile App Satisfaction Study, though.

TD Bank Personal Bank Accounts

Compare TD Bank accounts

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (1)

    TD Simple Savings Account

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (2)

    TD Signature Savings

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (3)

    TD Bank Essential Banking

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (4)

    TD Bank Complete Checking

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (5)

    TD Bank Beyond Checking Account

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (6)

    TD Bank Choice Promotional CD

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (7)

    TD Bank No-Catch CD

  • TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (8)

    TD Bank Step Rate CD

Minimum deposit

$0

Annual Percentage Yield (APY)

0.02%

Minimum deposit

None

Annual Percentage Yield (APY)

0.01% to 4.00%

Minimum deposit

$0

Annual Percentage Yield (APY)

None

Minimum deposit

$0

Annual Percentage Yield (APY)

None

Minimum deposit

$0

Annual Percentage Yield (APY)

0.01%

Minimum deposit

$250

Annual Percentage Yield (APY)

1.00% to 5.00%

Minimum deposit

$250

Annual Percentage Yield (APY)

0.05%

Start saving

TD Bank, Member FDIC

Start saving

TD Bank, Member FDIC

Start banking

TD Bank, FDIC Insured

Start banking

TD Bank, Member FDIC.

Start banking

TD Bank, FDIC Insured

Start saving

TD Bank, FDIC Insured

Start saving

TD Bank, FDIC Insured

Start saving

TD Bank, FDIC Insured

TD Simple Savings Account

TD Simple Savings Account

Start saving

TD Bank, Member FDIC

Insider’s Rating

4/5

Perks

Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)

Fees

$5 monthly service fee

Annual Percentage Yield (APY)

0.02%

Minimum Opening Deposit

$0

Bonus

Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)

$200

Pros

  • No monthly fee for students, or for adults under age 24 or age 62 or older
  • No monthly fee for the first 12 months, with recurring monthly deposits of $25
  • Mobile check deposit
  • No minimum opening deposit

Cons

  • Low APY
  • $5 monthly service fee

Insider’s Take

TD Bank Signature Savings Account pays a higher interest rate than the TD Simple Savings Account on balances of $10,000 or more. However, to get the most out of this account, you'll need to qualify for a relationship rate and meet one of the requirements to waive the TD Signature Savings - Fees Display. Ultimately, you can find much better rates with the best online banks.

Product Details

  • Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)
  • No monthly service fee for students, adults under age 24 or age 62 or older
  • Waive $5 monthly service fee by maintaining $300 minimum daily balance
  • No monthly fee for the first 12 months if you make recurring $25 monthly deposits
  • Interest compounded daily
  • FDIC insured

TD Signature Savings

TD Signature Savings

Start saving

TD Bank, Member FDIC

Insider’s Rating

3.75/5

Perks

Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)

Fees

$15 monthly service fee

Annual Percentage Yield (APY)

0.01% to 4.00%

Minimum Opening Deposit

None

Bonus

Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)

$200

Pros

  • Earn a competitive APY when you link to another eligible TD Bank account
  • Earn a higher APY with a higher balance
  • Mobile check deposit
  • No minimum opening deposit
  • Free incoming wire transfers
  • Free money orders
  • Free stop payments
  • Free official checks

Cons

  • $15 monthly service fee
  • Low APY if you don't link to another TD Bank account

Insider’s Take

TD Bank Signature Savings Account pays a higher interest rate than the TD Simple Savings Account on balances of $10,000 or more. However, to get the most out of this account, you'll need to qualify for a relationship rate and meet one of the requirements to waive the TD Signature Savings fees. Ultimately, you can find much better rates with the best online banks.

TD Bank review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends June 30, 2024)
  • Earn a bump rate APY when you link a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan
  • Earn 0.01% APY if you maintain less than $10,000 in your account
  • Earn 0.05% APY if you don't have an eligible TD Bank account and maintain an account balance of $10,000 or more
  • Earn 2.00% APY if you link an eligible TD bank account and maintain an account balance between $10,000 and $24,999
  • Earn 2.25% APY if you have an eligible TD Bank account and maintain an account balance between $25,000 and $49,999
  • Earn 2.50% APY if you have an eligible TD Bank account and maintain an account balance between $50,000 and $99,999
  • Earn 4.00% APY if you have an eligible TD Bank account and maintain an account balance over $100,000
  • Waive $15 monthly service fee by maintaining a $10,000 minimum balance, linking to a TD Beyond Checking Account, or opening an IRA
  • No out-of-network ATM fees and ATM fee refunds if you maintain a $2,500 balance
  • FDIC insured

TD Bank (Member FDIC) has two savings accounts:TD Signature Savings and the TD Simple Savings Account.

The TD Simple Savings Account makes it easy to waive monthly service fees during the first year — just make a recurring deposit of at least $25 each month. After that, you'll need to maintain a minimum daily balance of $300 or meet certain age-specific requirements.

TD Signature Savings generally offers more competitive interest rates than TD Simple Savings Account for most account balances. However, you'll need to be mindful of a $15 monthly service fee. To waive the monthly fee you must maintain a $10,000 minimum balance, link to a TD Beyond Checking Account, or open an IRA.

If you qualify for a relationship rate, you'll also earn a higher interest rate on TD Signature Savings, especially on higher balances. To qualify for a relationship rate, you must link a savings account to a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan.

If you have a personal or business checking account, you'll also need to meet additional requirements to qualify for a "relationship rate" — either receive a monthly direct deposit or make at least three deposits, withdrawals, payments, or transactions monthly.

See Business Insider's TD Bank Savings Rates Review.

TD Bank Essential Banking

TD Bank Essential Banking

Start banking

TD Bank, FDIC Insured

Insider’s Rating

4/5

Fees

$4.95 monthly service fee

Annual Percentage Yield (APY)

None

Minimum Opening Deposit

$0

Pros

  • No minimum opening deposit
  • No overdraft fees
  • TD Early Pay (direct deposits up to 2 business days early)
  • Possible to waive the monthly service fee

Cons

  • $4.95 monthly maintenance fee
  • $3 non-TD ATM fee
  • No checks

TD Bank Essential Banking review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Access to 1,100 branch locations and over 2,600 ATMs
  • To waive the monthly service fee, you must be between the ages of 13 through 17
  • Member FDIC

TD Bank Complete Checking

TD Bank Complete Checking

Start banking

Insider’s Rating

4/5

Perks

Earn $200 when you have $500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)

Fees

$15 monthly service fee

Annual Percentage Yield (APY)

None

Minimum Opening Deposit

$0

Bonus

Earn $200 when you have $500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)

$200

Pros

  • No minimum opening deposit
  • TD Early Pay (qualifying direct deposits up to two business days early)
  • Possible to waive the monthly maintenance fee
  • Overdraft options available
  • No ATM fees if you’re between the ages of 17 through 23

Cons

  • $15 monthly service fee
  • $35 overdraft fee
  • $3 for non-TD ATMs unless you qualify for waived fees

Insider’s Take

You might like one of TD Bank' primary checking accounts if you prefer banking face-to-face and live near a branch along the East Coast.

TD Bank Complete Checking review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Earn $200 when you have $500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)
  • Access to 1,100 branch locations and over 2,600 ATMs
  • TD Complete Checking has no monthly fee if you're a student or young adult between the ages of 17 through 23
  • Monthly service fee can also be waived if you meet one of the following criteria each month: receive direct deposits of $500 or more; maintain a minimum daily balance of $500 or more or maintain a $5,000 minimum daily combined balance across linked personal bank accounts
  • Overdraft protection options: Grace Period offers overdraft fee refunds when you restore your account balance by 11 p.m. ET the next business day; Savings Overdraft protection lets you link a savings account to cover overdrafts
  • Member FDIC

TD Bank Beyond Checking Account

TD Bank Beyond Checking Account

Start banking

TD Bank, FDIC Insured

Insider’s Rating

4/5

Perks

Earn $300 when you have $2,500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)

Fees

$25 monthly service fee

Annual Percentage Yield (APY)

0.01%

Minimum Opening Deposit

$0

Bonus

Earn $300 when you have $2,500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)

$300

Pros

  • TD Early Pay (qualifying direct deposits up to two business days early)
  • No opening deposit
  • Free overdraft protection
  • 2 overdraft fee reimbursem*nts per year
  • Waive other TD Bank account monthly fees when you have a Beyond Checking Account
  • No out-of-network ATM fees
  • Reimburses out-of-network ATM fees charged by providers when your balance is at least $2,500

Cons

  • $25 monthly service fee
  • $35 overdraft fee

Insider’s Take

You might like one of TD Bank's primary checking accounts if you prefer banking face-to-face and live near a branch along the East Coast.

TD Bank Beyond Checking Account review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Earn $300 when you have $2,500 in qualifying direct deposits within 60 days (offer expires June 30, 2024)
  • Access to over 1,100 branch locations
  • Waive $25 monthly fee with $5,000 in monthly direct deposits, OR $2,500 minimum balance, OR total of $25,000 in all TD Bank accounts
  • No opening deposit or minimum account balance
  • Interest compounded daily
  • FDIC insured

TD Bank offers a variety of checking accounts. You don't need a minimum deposit to open any TD Bank checking account. However, all of the accounts have monthly service fees. You can waive monthly service fees on some TD Bank checking accounts by meeting certain minimum balance requirements or if you fit a specific age group.

See Business Insider's TD Bank Checking Account review.

TD Bank Choice Promotional CD

TD Bank Choice Promotional CD

Start saving

TD Bank, FDIC Insured

Insider’s Rating

3.5/5

Annual Percentage Yield (APY)

1.00% to 5.00%

Minimum Opening Deposit

$250

Pros

  • $250 minimum opening deposit
  • Standard term options
  • Solid interest rate compared to other brick-and-mortar banks

Cons

  • High early withdrawal penalties

Insider’s Take

TD Bank Choice Promotional CDs are good options if you want a 6-month or 12-month term, and if you also have a personal checking account so you can earn the higher relationship bump rate on those two terms. Otherwise, you can earn much higher rates at other banks.

TD Bank Choice Promotional CD review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Terms range from 3 months to 5 years
  • Earn 1.00% APY, or 1.00% to 5.00% APY if qualify for a relationship bump rate when you also have an eligible checking account
  • Early withdrawal penalties: All interest earned for terms under 90 days; 3 months of interest on terms between 90 days and 1 year; 6 months of interest on terms between 1 year and 2 years; 9 months of interest on terms between 2 years and 3 years; 1 year of interest on terms between 3 years and 4 years; 18 months of interest on terms between 4 years and 5 years; 2 years of interest on terms 5 years or longer
  • Interest compounded and deposited monthly
  • FDIC insured

TD Bank No-Catch CD

TD Bank No-Catch CD

Start saving

TD Bank, FDIC Insured

Insider’s Rating

3.5/5

Annual Percentage Yield (APY)

0.05%

Minimum Opening Deposit

$250

Pros

  • One penalty-free withdrawal per term
  • $250 minimum opening deposit

Cons

  • Low interest rates
  • Only two terms to choose from

Insider’s Take

A TD Bank No-Catch CD is a decent option if you want to use a brick-and-mortar bank, because it has a low minimum deposit. But if you’re open to online banking, you’ll find significantly higher rates on no-penalty CDs elsewhere.

TD Bank No-Catch CD review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Two terms: 6 months and 12 months
  • If you withdraw funds, you still must leave at least $250 in the account to keep it open
  • Interest compounded and paid monthly
  • Member FDIC

TD Bank Step Rate CD

TD Bank Step Rate CD

Start saving

TD Bank, FDIC Insured

Insider’s Rating

3.75/5

Annual Percentage Yield (APY)

0.05% to 0.15%

Minimum Opening Deposit

$250

Pros

  • Interest rate increases every year
  • You can make a partial or total penalty-free withdrawal on each anniversary
  • $250 minimum opening deposit

Cons

  • Low interest rates
  • Only two terms to choose from
  • High penalties if you withdraw money outside of an anniversary

Insider’s Take

TD Bank Step Rate CDs are better options than the bank’s Promotional 3-year and 5-year terms, because you’ll earn more in interest over time. But if your goal is to earn a high interest rate, you can find much higher rates on step-up CDs at other institutions.

TD Bank Step Rate CD review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Two terms: 3 years and 5 years
  • If you withdraw funds, you still must leave at least $250 in the account to keep it open
  • Early withdrawal penalties: You can withdraw money on each anniversary with no penalty; otherwise, the penalty is 12 months interest for the 3-year term and 24 months interest for the 5-year term
  • Interest compounded and paid monthly
  • Member FDIC

TD Bank CD rates are relatively low overall, with the exception of a few terms. It also has a no-penalty CD and a step-up CD, though, so TD is a good choice if you want a variety of options.

See Business Insider's TD Bank CD Rates Review.

TD Bank Auto Loans

TD Bank is an indirect lender, so you won't be able to get an auto loan directly from the financial institution. Information about auto loans term, rates, and fees isn't available online. You'll have to find a dealership partner to learn more about TD Bank auto loans.

TD Bank Personal Loans

TD Bank Fit Loan

Apply now

Compare loan options and get your rates today.

Insider’s Rating

4/5

Regular APR

8.99% to 23.99%

Loan Amount Range

$2,000 to $50,000

Pros

  • Fast funding
  • No origination fees or prepayment penalties
  • Competitive rates
  • Wide range of loan amounts
  • 24/7 customer service

Cons

  • Only available to borrowers in certain states
  • Late fee
  • No cosigned loans available

TD Bank Personal Loan review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Loan amounts range from $2,000 to $50,000
  • The late fee is 5% of the minimum payment due or $10, whichever is less
  • Term lengths are between 36 to 60 months

TD Bank has unsecured personal loans called Fit Loans. You may qualify for a Fit Loan if you live in a state that has a TD branch. Loan amounts range from $2,000 to $50,000.

See Business Insider's TD Bank Personal Loans Review.

TD Bank Mortgages

TD Bank Mortgages

TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (18)

Insider’s Rating

4.73/5

Recommended Credit

620

Minimum Down Payment

3%

Types of Loans Offered

Conforming, FHA, VA, construction, jumbo, Medical Professional, TD Right Step, TD Home Access, home equity loan, HELOC

Pros

  • Wide range of mortgage options
  • Offers affordable loan programs with flexible credit requirements
  • Easily explore customized rates

Cons

  • Only available in 15 states and Washington, DC
  • Lender fees aren’t listed online

Product Details

  • Offers mortgages in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, DC.
  • Minimum credit score and down payment displayed are for conforming mortgages

TD Bank may be a solid choice if you're looking for a variety of home loans. The bank has conforming loans, FHA loans, VA loans, construction loans, jumbo loans, Medical Professional mortgages, TD Right Step mortgages, TD Home Access mortgages, home equity loans, and HELOCs.

See Business Insider's TD Bank Mortgage Review.

TD Bank Credit Cards

TD Double Up℠ Visa Credit Card

TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (19)

Insider’s Rating

3.85/5

Annual Fee

$0

Intro APR

0% intro APR on balance transfers for first 15 billing cycles

Regular APR

19.74%, 24.74% or 29.74% variable

Recommended Credit

Good to Excellent

Pros

  • Earns unlimited 2% cash back on purchases
  • Good intro APR on balance transfers
  • No annual fee

Cons

  • Other no-annual-fee cash-back cards offer better welcome bonuses
  • Intro APR isn’t valid for purchases
  • Foreign transaction fees

Product Details

  • The information related to the TD Double Up℠ Credit Card has been collected by Business Insider and has not been reviewed by the issuer.
  • Earn $100 cash back as a statement credit after spending $1,000 within the first 90 days of account opening
  • Enjoy a 0% intro APR for 15 months from account opening for balance transfers and then 19.74%, 24.74% or 29.74% variable APR
  • Earn 2% cash back on all purchases
  • $0 annual fee

TD Bank also offers several types of credit cards, including secured credit cards, travel credit cards, and cash back credit cards.

The TD Double Up℠ Visa Credit Card is notably listed in our guide for the best 2% cash back credit cards as a top pick for TD Bank customers.

How TD Bank Compares

TD Bank vs. Chase

You might prefer Chase Bank if you want a large branch network. It has branches in every U.S. state except Alaska and Hawaii.

Chase has multiple checking accounts to choose from, and depending on which one you choose, you can earn bonuses as high as up to $3,000. Still, TD Bank makes it easier to waive monthly service fees on its checking accounts.

For savings accounts, it's a toss-up between the two banks since their accounts have similar features. The requirements for waiving the monthly service fee are nearly identical. Your best option might ultimately hinge on which bank's branches are closer to your home or if you're eligible for a TD Bank savings account bonus.

Chase Bank Review

TD Bank vs. Bank of America

Bank of America has 4,200 branches in 37 states and DC, while TD Bank has around 1,100 branches in 15 states and DC. Bank of America could be a better option if you want a larger branch network.

You might prefer TD Bank if you're looking for more options for home loans. Bank of America doesn't have home equity loans or construction loans.

Bank of America Review

Is TD Bank Right for You?

TD Bank might be a good choice if you prefer traditional brick-and-mortar banks to credit unions or online banks. It is also may be ideal if you want to open bank accounts with low initial deposits, a variety of home loan or personal loan options, or a 2% cash back credit card.

If you don't meet the requirement to waive monthly service fees on TD Bank, other banks have fee-free bank accounts that may be a better fit. You should also consider other options if you want to open one of the best high-yield savings accounts or are looking for high CD rates.

Why You Should Trust Us: How We Reviewed TD Bank

For our TD Bank review, we rate bank products and services using our our editorial standards. At Business, we rate products on a scale from zero to five stars. We compare and contrast the features and fine print of various products to help determine if the account may be right for you.

For example, while reviewing a TD Bank checking account, we used our bank account methodology to examine specific account features like opening requirements, monthly service fees, overdraft protection, ATM network availability, and ATM fees. Meanwhile, for credit cards, we look at features such as annual fees and rewards rates and for loans and mortgages, we examined criteria, including (but not limited to) fees and term options.

Sophia Acevedo

Banking Editor

Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circ*mstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

  • Bank accounts
  • Savings and CD rate trends
  • Budgeting
  • Saving
  • How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.

Evelyn He

Compliance and Operations Associate

Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.

Top Offers From Our Partners

TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (22)

SoFi Checking and Savings Earn up to 4.60% APY on savings balances and up to a $300 bonus with qualifying direct deposit. FDIC Insured.

There is no minimum direct deposit amount required to qualify for the 4.60% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. To earn the $300 bonus, the customer must complete a direct deposit with a minimum initial deposit of $250 in a new SoFi Checking and Savings account within 45 days of clicking to qualify (offer expires 12/31/24).

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TD Bank Review: Exploring Its Banking Services, Benefits, and Drawbacks (2024)
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Name: Duane Harber

Birthday: 1999-10-17

Address: Apt. 404 9899 Magnolia Roads, Port Royceville, ID 78186

Phone: +186911129794335

Job: Human Hospitality Planner

Hobby: Listening to music, Orienteering, Knapping, Dance, Mountain biking, Fishing, Pottery

Introduction: My name is Duane Harber, I am a modern, clever, handsome, fair, agreeable, inexpensive, beautiful person who loves writing and wants to share my knowledge and understanding with you.