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TD Bank’s CD interest rates are competitive, but only if you’re an eligible TD customer
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TD Bank CD Rates
TD Bank offers three different types of certificates of deposit (CDs)—a standard CD, a penalty-free CD, and a step-up CD—with a wide range of terms and rates. If you’re an existing TD Bank checking customer, you can enjoy a special relationship rate bump.
The bank currently offers its CDs in 15 states and the District of Columbia. As you shop around and compare your options, here’s what to know about TD Bank CD rates.
Important
The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.
TD Bank Choice CD
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 3.00% | 1.00% |
| $10,000–$49,999.99 | 3.00% | 1.00% |
| $50,000–$99,999.99 | 3.00% | 1.00% |
| $100,000+ | 3.00% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 5.00% | 1.00% |
| 10,000–$49,999.99 | 5.00% | 1.00% |
| $50,000–$99,999.99 | 5.00% | 1.00% |
| $100,000+ | 5.00% | 1.00% |
See the best CD rates today before choosing the CD that is best for you.
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 4.00% | 1.00% |
| $10,000–$49,999.99 | 4.00% | 1.00% |
| $50,000–$99,999.99 | 4.00% | 1.00% |
| $100,000+ | 4.00% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 4.00% | 1.00% |
| $10,000–$49,999.99 | 4.00% | 1.00% |
| $50,000–$99,999.99 | 4.00% | 1.00% |
| $100,000+ | 4.00% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 4.00% | 1.00% |
| $10,000–$49,999.99 | 4.00% | 1.00% |
| $50,000–$99,999.99 | 4.00% | 1.00% |
| $100,000+ | 4.00% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 4.00% | 1.00% |
| $10,000–$49,999.99 | 4.00% | 1.00% |
| $50,000–$99,999.99 | 4.00% | 1.00% |
| $100,000+ | 4.00% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 3.51% | 1.00% |
| $10,000–$49,999.99 | 3.51% | 1.00% |
| $50,000–$99,999.99 | 3.51% | 1.00% |
| $100,000+ | 3.51% | 1.00% |
| Deposit Range | Bump Rate APY | Standard APY |
| $250–$9,999.99 | 2.50% | 1.00% |
| $10,000–$49,999.99 | 2.50% | 1.00% |
| $50,000–$99,999.99 | 2.50% | 1.00% |
| $100,000+ | 2.50% | 1.00% |
Important
If you have an eligible TD Bank personal checking account when you open your CD but you close it before the CD renews, you won’t earn the bump rate again upon renewal.
No-Catch CD
| Term Length | APY |
| 6 months | 0.05% |
| 12 months | 0.05% |
Step Rate CD
| Year | APY |
| Year 1 | 0.05% |
| Year 2 | 0.10% |
| Year 3 | 0.15% |
| Composite APY | 0.10% |
| Year | APY |
| Year 1 | 0.05% |
| Year 2 | 0.10% |
| Year 3 | 0.15% |
| Year 4 | 0.20% |
| Year 5 | 0.25% |
| Composite APY | 0.15% |
TD Bank CDs: Key Features
| APY Range | 1.00%–5.00% |
| Minimum Balance | $250 |
| Term Range | 3–60 months |
| Early Withdrawal Penalty |
90 days–1 year: 3 months’ interest 1–2 years: 6 months’ interest 2–3 years: 9 months’ interest 3–4 years: 12 months’ interest 4–5 years: 18 months’ interest |
| APY Range | 0.05%–0.05% |
| Minimum Balance | $250 |
| Term Range | 6–12 months |
| Early Withdrawal Penalty |
90 days–1 year: 3 months’ interest 1–2 years: 6 months’ interest 2–3 years: 9 months’ interest 3–4 years: 12 months’ interest 4–5 years: 18 months’ interest |
| APY Range | 0.10%–0.15% (Composite APY) |
| Minimum Balance | $250 |
| Term Range | 3–5 years |
| Early Withdrawal Penalty |
One penalty-free withdrawal per anniversary; standard withdrawal penalty otherwise: 90 days–1 year: 3 months’ interest 1–2 years: 6 months’ interest 2–3 years: 9 months’ interest 3–4 years: 12 months’ interest 4–5 years: 18 months’ interest |
Compare CD Account Rates
Do You Need a TD Bank Checking Account to Open a CD Account?
It’s not required to have a TD Bank checking account to open one of the bank’s CDs, but you do need a personal checking account to qualify for the highest APYs available with TD Bank’s Choice CD (to get the relationship bump rate). The checking account must be open and in good standing at the time you open or renew your TD Bank CD.
What Is the Minimum Deposit Required to Open a TD Bank CD Account?
TD Bank has a minimum deposit requirement of $250 on all of its CDs. However, the bank’s Choice CD is a tiered CD, which means that you’ll need to deposit more than the minimum to earn a higher rate.
Does TD Bank Have Early Withdrawal Penalties for CD Accounts?
Yes, the bank charges an early withdrawal penalty based on the term of your CD. Here’s a quick breakdown of what to expect:
| CD Term | Early Withdrawal Penalty |
| 90 days–1 year | 3 months’ interest |
| 1–2 years | 6 months’ interest |
| 2–3 years | 9 months’ interest |
| 3–4 years | 12 months’ interest |
| 4–5 years | 18 months’ interest |
If you open a TD Bank No-Catch CD, you can take one withdrawal during your CD’s term without incurring a penalty. Additionally, the Step Rate CD allows one penalty-free withdrawal at each anniversary during your term.
What Is TD Bank’s Step Rate APY?
TD Bank’s Step Rate CD offers an APY that increases each year at a guaranteed rate. The three-year and five-year Step Rate CDs have a different rate each year, along with a composite APY that shows the overall amount earned over the term.
Your Guide to CDs
- What Is a Certificate of Deposit (CD)?
- What Is a Brokered CD?
- What Is a CD Ladder?
- Pros and Cons of CDs
- How to Invest With CDs
- How to Open a CD
- How to Close a CD
- CDs vs. Annuities
- CDs vs. Stocks
- CDs vs. Mutual Funds
- CDs vs. ETFs
- CDs vs. Savings Accounts
- Short-Term vs. Long-Term CDs
- CD Rates News
- Best 1-Year CD Rates
- Best 18-Month CDs
- Best Jumbo CD Rates
- Best 6-Month CD Rates
- Best 3-Month CD Rates
- Best Bank CD Rates
Read the original article on Investopedia.