TD Bank Review 2026: Checking, Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
At TD Bank, a brick-and-mortar bank with a strong presence in the Eastern U.S., you’ll find straightforward accounts with average features. Its most attractive account may be TD Complete Checking, which has an avoidable monthly fee.
TD Bank is one of NerdWallet’s overall lowest-rated financial institutions due to its low interest rates, high overdraft fee and its recent enforcement action (more information below). If you’re looking for higher rates or better overdraft policies, check out NerdWallet’s picks for the best high-yield savings accounts and the best banks for overdrafts.
Accounts are available in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C.
NerdWallet star-rating penalty for CFPB enforcement action, Sept. 11, 2024: TD Bank was ordered to pay $28 million by the Consumer Financial Protection Bureau. The CFPB found three illegal practices: Failing to correct credit card reporting errors, sharing fake and negative bank account information with consumer reporting agencies (which can affect consumers’ eligibility when applying at new banks) and refusing to investigate or resolve consumer complaints. Hundreds of thousands of bank accounts were affected. NerdWallet deducted 0.5 star from TD Bank’s overall rating because of the negative impact of the actions discovered. See more from the CFPB’s statement or read about our penalties on our methodology page.
In October 2024, TD Bank agreed to over $3 billion in penalties and growth restrictions as part of a settlement with regulators stemming from charges related to money laundering.
No minimum opening deposits on checking and savings accounts.
24/7 customer service by phone.
Highly rated mobile apps.
Overdraft buffer.
Low rates on savings accounts.
Monthly fees (though some are avoidable).
Product reviews
Certificates of deposit
TD Bank’s certificates of deposit have terms from three months to five years. In addition to regular CDs, the bank offers other special types of CDs that don’t have penalties for early withdrawals or offer annual rate increases. The minimum deposit is $250.
» Want to explore better options? Read NerdWallet's top CD rates this month
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 3 months | 0.05% | $250 |
| 6 months | 1.00% | $250 |
| 1 year | 3.24% | $250 |
| 1.5 years | 0.05% | $250 |
| 2 years | 0.05% | $250 |
| 3 years | 1.99% | $250 |
| 5 years | 1.99% | $250 |
TD Bank CD
Customer experience & overdraft fees
Customer experience
TD Bank offers long hours at many branches and 24/7 phone support. Plus, it has more than 2,600 ATMs from Maine to Florida, and customers have free access to TD Bank’s ATMs in Canada. Customers have the option of banking online, or using TD Bank’s mobile banking apps, which are available for iOS and Android devices.
» More for Canadian readers: Check out NerdWallet's review of Canada's TD Bank
Overdraft fees
TD Bank charges $35 for each overdraft transaction, about the same as many large national banks charge. On top of that, you can be charged up to three overdraft fees a day. The bank won’t charge you these fees if your account is overdrawn by $50 or less, or if you’re able to bring your balance to $0 or more by 11 p.m. ET the next business day.
You can also opt to link a savings account for fee-free overdraft transfers. The bank doesn’t charge a fee for having nonsufficient funds because of returned payments.
» Want to compare? See what other banks charge for overdraft fees
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.