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TD Bank certificate of deposit (CD) accounts offer a variety of benefits for people who are looking for a secure way to save money.
CDs are certificates of deposit that offer a guaranteed rate of return and are low-risk investments. They require a minimum deposit and have a fixed term and rate, which can be renewed at the end of the term if desired.
Their CDs are FDIC-insured, meaning you can trust your money is safe and secure.
TD Bank offers a variety of terms on its CD accounts. The interest rates vary slightly depending on what type of CD you choose, but even its top offering pales in comparison to the best CD rates.
Read more: See the best TD Bank bonus offers…
TD Bank CD Rates
TD Bank offers standard Choice Promotional CDs, Choice Promotional CDs with a bump rate, Step Rate CDs and TD No-Catch CDs. Each comes with a range of term options.
TD Bank’s CDs may not be available in all markets.
TD Bank’s Choice Promotional CD Rates
| Account | Term | Relationship Bump Rate | Minimum deposit to earn APY |
|---|---|---|---|
| TD Choice Promotional CD | 3 months | 0.05% APY | $250 |
| TD Choice Promotional CD | 6 months | 3.51% APY | $10,000 |
| TD Choice Promotional CD | 9 months | 4.15% APY | $250 |
| TD Choice Promotional CD | 1 year | 3.51% APY | $250 |
| TD Choice Promotional CD | 1 year | 4.00% APY | $10,000 |
| TD Choice Promotional CD | 18 months | 0.05% APY | $250 |
| TD Choice Promotional CD | 2 years | 3.75% APY | $250 |
| TD Choice Promotional CD | 2 years | 4.25% APY | $10,000 |
| TD Choice Promotional CD | 3 years | 0.05% APY | $250 |
| TD Choice Promotional CD | 5 years | 0.05% APY | $250 |
TD Bank’s bump rates are for customers who have an eligible checking account at TD Bank.
TD Bank also offers a Step Rate CD. The account starts out paying the same APY as Choice CDs but increases 5 basis points each year for the length of the CD term.
Two term options are offered: 3 and 5 years. Step Rate CDs also allow customers to make one penalty-free withdrawal within 10 calendar days of the anniversary date of opening the account.
Step Rate CDs At TD Bank
| Account | Term | Composite APY | Minimum opening deposit |
| TD Step Rate CD | 3 years | 0.10% | $250 |
| TD Step Rate CD | 5 years | 0.15% | $250 |
Note: Annual percentage yields (APYs) shown are as of Mar. 30, 2023, and may vary by region for some products.
How TD Bank CD Rates Compare To High-Yield Accounts
Some of TD Bank’s relationship CDs might be worth looking into if you live near a TD Bank store or have a checking account there. However, TD Bank’s standard rate CDs are much worse than those offered by other online banks.
Choosing an online bank with a good reputation that is insured by the Federal Deposit Insurance Corp. (FDIC) is one way to get a higher APY and keep your money safe in case the bank goes out of business. Just make sure your money doesn’t go over the limits and rules set by the FDIC.
Here are some good online CD account options:
Read more: Find the best nationwide CD rates here…
TD Bank’s Other Savings Options
TD Bank offers a no-catch CD, which allows one penalty-free withdrawal per term.
TD Bank also offers savings accounts and a money market account, with rates that aren’t very competitive.
READ MORE: See The Best Bank Promotions Here And The Best Investing Promotions Here
