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TD Bank has around 1,100 branches and 2,600 ATMs along the East Coast.

The bottom line: TD Bank (Member FDIC) has two savings accounts: TD Signature Savings and TD Simple Savings Account. The better account for you depends on how much money you plan to keep there. While TD Bank pays slightly higher rates than most brick-and-mortar banks, you can find much better rates with online banks.

Compare savings accounts

TD Standard savings rates

At the very minimum, you’ll earn the following standard savings rates with TD Signature Savings:

Balance
Standard APY

$0.01 to $9,999.99
0.01%

$10,000 to $24,999.99
0.05%

$25,000 to $49,999.99
0.10%

$50,000 to $99,999.99
0.15%

$100,000 to $249,999
0.25%

$250,000 +
0.50%

TD Relationship savings rates

TD Bank makes it pretty easy to qualify for a “relationship rate,” or a higher rate as a reward for having another TD Bank product.

You’ll earn the following relationship rates when you link your TD Signature Savings to a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan:

Balance
Relationship APY

$0.01 to $9,999.99
0.01%

$10,000 to $24,999.99
0.50%

$25,000 to $49,999.99
0.75%

$50,000 to $99,999.99
1.00%

$100,000 to $249,999
1.50%

$250,000 +
2.00%

 

You need a relatively high balance to earn a good interest rate with TD Bank. If you’re open to banking online, though, then you can find online banks that pay higher rates with no minimum balance requirements.

TD Simple Savings rates

The TD Simple Savings Account pays 0.05% APY Annual Percentage Yield (APY) on all balances.

Your decision between the two savings accounts could come down to how much money you plan to keep in the account. You’ll earn a higher rate with TD Simple Savings if you a) keep under $10,000 in savings, and b) don’t qualify for relationship rates. However, the difference is minimal.

TD Bank savings rates vs. Bank of America savings rates

Bank of America Advantage Savings pays 0.01% APY on most balances, but you can earn a little more if you qualify for Preferred Rewards. The Preferred Rewards tiers are as follows:

Gold: Earn 0.02% APY with a three-month average combined balance of $20,000 to $49,999.99 in all Bank of America bank accounts or Merrill investments

Platinum: Earn 0.03% APY with a three-month average combined balance …read more

Source:: Business Insider

      

TD Bank pays higher savings rates than most of its competitors, with no minimum opening deposits

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