TD Bank Savings Account Rates – Forbes Advisor


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TD Bank offers two savings account options to help you grow your money. Savers can choose TD Simple Savings, the basic option, or TD Signature Savings, which offers more benefits and the ability to earn higher interest.

Rates on TD Bank savings accounts start at 0.01% APY, or annual percentage yield, and range up to 0.25% APY.

With different options to choose from, it helps to know how TD Bank savings account rates work.

Annual percentage returns (APY) and account details are accurate as of September 23, 2022.

TD Bank Savings Account Interest Rates (US)

The maximum TD Bank Savings Account interest rate you can earn will depend on:

  • The account you choose
  • Your savings balance
  • If you qualify for a relationship rate increase

The TD Bank Simple Savings Account earns a fixed rate of 0.02% on all balances. That’s below the national average savings account rate of 0.17% reported by the FDIC.

You’ll get the highest rates with Signature Savings, especially the premium rates available when you link a qualifying TD Bank chequing account, credit card, mortgage or home equity loan. Here’s how Signature rate tiers compare, with and without the rate hike.

TD Bank Signature Savings Account Interest Rates by Balance Tier

Overview of TD Bank Savings Accounts

TD Bank operates more than 1,100 branches in the United States. So you may be able to open a savings account in person if you prefer branch banking. But the returns on the accounts are lower than the rates offered by online banks.

If you’re considering a TD Savings option, it helps to know the basic requirements.

Minimum deposit

TD Bank does not have a minimum deposit requirement for any of its savings accounts. That might make TD attractive if you’re just starting to save.

Minimum daily balance

You will need to maintain a minimum daily balance to avoid monthly service charges on TD Bank savings accounts.

The daily balance required to avoid the $5 fee for Simple Savings is $300. The fee is also waived if you are 18 or younger, or 62 or older.

You can avoid the $15 Signature Savings fee by maintaining a minimum daily balance of $10,000, linking an eligible TD checking account, or opening your savings account as an IRA.


With Simple Savings you will earn 0.02% APY regardless of how much you keep in the account.

Rates on Signature Savings start at just 0.01% APY, but you’ll get higher rates if you maintain a larger balance and/or qualify for a relationship rate increase if you have another account at TD.

Monthly fee

The monthly cost of a TD Bank savings account depends on the account you choose. The fee is $5 for Simple Savings and $15 for Signature Savings. The bank is willing to waive fees if you maintain a minimum balance or meet other conditions.

Dialing schedule

TD Bank compounds and pays savings account interest on a monthly basis.

How much can you earn?

If you earn the fixed 0.02% APY with a TD Simple Savings Account, the interest won’t add up much. You could do a little better with a Signature Savings Account.

Here’s a comparison of the interest you could earn with a $10,000 deposit and a 10-year savings schedule.

You can use our savings calculator to see how much you could earn with a higher balance and higher rate on Signature Savings.

TD Bank vs. Other banks

TD Bank Savings Account interest rates are similar to what you’d get from other big traditional banks, which means APYs are relatively low, even if you qualify for a relationship rate increase .

In general, mainstream banks like TD tend to offer meager rates on interest-bearing accounts. The best online banks offer much more competitive savings rates.

Other TD Bank Savings Options

In addition to savings accounts, TD Bank offers Certificate of Deposit (CD) accounts as a savings alternative. TD’s options include standard CDs, promotional CDs, penalty-free CDs and step-up CDs. The shortest CD term is three months, while the longest CD term is five years.

TD Bank CD rates aren’t as competitive as you’ll find at online banks or even some other brick-and-mortar banks.


TD Bank offers you several ways to save and earn interest, with no minimum opening deposit required. Although TD Bank savings account interest rates are comparable to those you’ll find at other big brick and mortar banks, you might get a better rate on savings deposits at an online bank.

You may want to consider a TD Bank savings account if you like branch banking. But you’ll want to make sure you can avoid monthly maintenance fees.

Frequently Asked Questions (FAQs)

What is the interest rate for the TD Bank Savings Account?

Interest on TD Bank savings accounts ranges from 0.01% to 0.25% APY. You earn the highest rates with a Signature Savings account, which also charges a higher monthly maintenance fee than the other option, Simple Savings.

Which bank has the best savings account rates?

Online banks typically offer the highest APYs on savings accounts, largely due to their lower running costs. Digital banks also tend to pay higher rates on CDs and money market accounts than traditional banks.

Should I open a CD account or a savings account?

CDs can help you grow your savings for medium to long term goals. With a CD, you agree to leave your money in the account for a set period or term. Once the CD “matures” at the end of the term, you can withdraw your savings and the interest earned. Savings accounts offer more flexibility since you can withdraw money at least six times a month.


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