TD Bank Review: Checking, Savings and CDs
TD Bank has a strong presence of branches in the Eastern U.S. Its account features are solid, and its Convenience Checking account offers a bonus.
Overall bank rating
3.5
The bottom line:
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. But TD does have two unusual perks: long branch hours and free ATMs in Canada. Its most attractive account may be Convenience Checking, which has a solid bonus.
Best for: East coast customers who would take advantage of TD’s many branches and long hours, keep a bit of a buffer in their checking and savings accounts, and don’t care about maximizing interest.
Pros
No monthly fee for TD Convenience Checking if you maintain a balance of at least $100.
Many of the nearly 1,300 East Coast locations are open seven days a week.
$150 sign-up bonus for Convenience Checking customers.
Cons
$3 fee for non-TD Bank ATMs with TD Simple and TD Convenience checking accounts.
Earns 0.05% APY on Simple Savings; better rates available elsewhere.
Full review
at TD Bank, Member FDIC
3.0
NerdWallet ratingat TD Bank, Member FDIC
Monthly Fee
$15.00
Waived with $100 minimum balance
Bonus
$150
Requirements to qualify
TD Convenience is the most popular checking option, and you can waive the steep fee of $15 if you maintain a daily balance of at least $100. It also has that sign-up bonus. But if you receive more than $2,500 in direct deposits a month, you could be eligible for a $300 sign-up bonus on the interest-bearing account, TD Beyond.

TD Bank TD Simple Savings
3.0
NerdWallet ratingAPY
0.05%
With $1 minimum balance
TD Bank’s Simple Savings account has no minimum deposit to open, but its rate of 0.05% APY is low. And there’s a monthly fee of $5 ($4 if you choose online statements), waived if you have $300 to deposit. For 12 months only, you can avoid the fee by transferring $25 monthly from a TD checking to savings account. For customers with larger balances, TD Preferred Savings earns higher rates, but if your balance falls below $20,000, the monthly fee is $15, or $14 with online statements.
» Want to see more options? Check out NerdWallet’s best savings accounts

TD Bank CD
1.5
NerdWallet rating1-year APY
0.05%
3-year APY
0.05%
5-year APY
0.05%
Minimum Deposit
$250
Standard TD Bank CDs have terms from three months to five years, and it offers several other types of CDs that don’t have penalties or offer annual rate increases. The minimum deposit is $250. You can get a rate increase for various CDs with a checking account in good standing, but overall you can find much higher rates elsewhere.
» Want to explore better options? Read NerdWallet's top CD rates this month
Banking experience
4.5
NerdWallet ratingTD Bank offers long hours for many branches and 24/7 phone support. Plus, it has over 1,900 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 app, which is available for iOS and Android devices.
Overdraft fees
3.0
NerdWallet ratingTD 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 five overdraft fees a day. The bank won’t charge you these fees if your account is overdrawn by $5 or less.
at TD Bank, Member FDIC
3.0
NerdWallet ratingat TD Bank, Member FDIC
Monthly Fee
$15.00
Waived with $100 minimum balance
Bonus
$150
Requirements to qualify
TD Convenience is the most popular checking option, and you can waive the steep fee of $15 if you maintain a daily balance of at least $100. It also has that sign-up bonus. But if you receive more than $2,500 in direct deposits a month, you could be eligible for a $300 sign-up bonus on the interest-bearing account, TD Beyond.

TD Bank TD Simple Savings
3.0
NerdWallet ratingAPY
0.05%
With $1 minimum balance
TD Bank’s Simple Savings account has no minimum deposit to open, but its rate of 0.05% APY is low. And there’s a monthly fee of $5 ($4 if you choose online statements), waived if you have $300 to deposit. For 12 months only, you can avoid the fee by transferring $25 monthly from a TD checking to savings account. For customers with larger balances, TD Preferred Savings earns higher rates, but if your balance falls below $20,000, the monthly fee is $15, or $14 with online statements.
» Want to see more options? Check out NerdWallet’s best savings accounts

TD Bank CD
1.5
NerdWallet rating1-year APY
0.05%
3-year APY
0.05%
5-year APY
0.05%
Minimum Deposit
$250
Standard TD Bank CDs have terms from three months to five years, and it offers several other types of CDs that don’t have penalties or offer annual rate increases. The minimum deposit is $250. You can get a rate increase for various CDs with a checking account in good standing, but overall you can find much higher rates elsewhere.
» Want to explore better options? Read NerdWallet's top CD rates this month
4.5
NerdWallet ratingTD Bank offers long hours for many branches and 24/7 phone support. Plus, it has over 1,900 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 app, which is available for iOS and Android devices.
3.0
NerdWallet ratingTD 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 five overdraft fees a day. The bank won’t charge you these fees if your account is overdrawn by $5 or less.
How does TD Bank compare?
Member FDIC | |
---|---|
APY0.50% With $0 minimum balance | APY0.50% With $0 minimum balance |
BonusN/A | BonusN/A |
RATING METHODOLOGY
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.