TD Bank CD Rates

Check out these TD Bank CD rates before you open an account.

TD Bank has close to 1,300 branch locations along the East Coast. It bills itself as “America’s Most Convenient Bank” because it offers online, mobile and phone banking; plenty of branches; and longer hours than many banks. Some branches are open on weekends and certain holidays.

In addition to deposit accounts, TD Bank offers several certificate of deposit accounts to choose from. CDs are a safe investment and provide a guaranteed rate of return, making them a popular choice for people who don’t want a lot of risk. If you’re shopping for a CD, this review of TD Bank CD rates might help you decide which CD is best for you.

Here’s a quick look at what this review covers:

TD Bank CD Overview

TD Bank offers five types of CDs with terms ranging from three months to five years. All of the CDs require a nominal opening deposit, but none charge maintenance fees. Compare the terms below to see which options are the best for you.

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TD Bank CDs at a Glance: April 2020
Type Terms Minimum Deposit Annual Percentage Yield
TD Choice Promotional CD 3 months to 5 years $250 Up to 0.50%
TD No-Catch CD 6 or 12 months $250 0.15%
TD Step Rate CD 3 or 5 years $250 0.33%
TD IRA Add-Vantage CD 12 months $250 0.25%
TD Step Rate IRA CD 3 or 5 years $250 0.33%

Learn More: Best National Bank of 2019: TD Bank

Who Are TD Bank CDs Best For?

TD Bank CDs are best for customers who want more than a CD account. Customers with a qualifying checking account earn the best rates on the CD products. Certain features on CDs are also appealing for a select group of customers. For example, the No-Catch CD lets customers withdraw money without paying a penalty before the CD matures. Other interesting features include an annual rate increase on Step Rate CDs and the ability to add money to an IRA through a CD.


  • Rate bump feature gives customers a higher rate
  • Ability to add or withdraw money on some of the CDs
  • FDIC-insurance of TD Bank and its CDs
  • Convenient branch hours
  • Automatic renewal
  • Low minimum deposit required
  • Reimbursement for ATM fees
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  • Rate structure might be a little confusing to some people
  • Higher interest rates from many other online banks
  • Interest compounded monthly instead of daily
  • CD rate can variable by region
  • Best rates reserved for checking account customers

Who Might Want To Open a TD Bank CD?

Customers who either have existing checking accounts with TD Bank and are interested in opening one might find its CDs appealing. You can get a higher rate — referred to by TD Bank as a “rate bump” — if you have an eligible TD Bank checking account. For example, the standard APY for a three-month TD Choice Promotional CD is 0.10%. This goes up to 0.50% with the rate bump.

The low opening deposit is also an attractive feature. Similar banks sometimes require $500, $1,000 or more to open a CD. An affordable opening deposit makes it possible for more people to take advantage of the CD.

Who Might Want To Pass on TD Bank’s CD Options?

If you’re only in the market for a CD, TD Bank might not be the best choice. Although some of the bank’s rates are competitive, you can find better rates for similar products at other banks. TD Bank offers better CD rates for its own customers, so you won’t qualify for the best rates without a TD Bank checking account.

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Customers who want to maximize the return on their CD account should look elsewhere as well. The interest on TD Bank CDs compounds monthly instead of daily. You’ll probably see your money grow faster in another bank that offers daily compounding interest.

See: Best CD Rates and Accounts of 2020

How To Open a TD Bank CD

If you’re ready to open a TD Bank CD, you can complete an application in a local branch or open some accounts online. The TD Choice Promotional CD, TD No-Catch CD and TD Step Rate CD are currently available online, but you’ll have to visit a branch to open one of the IRA CD accounts.

Whether you apply online or in person, you’ll have to provide your contact information, Social Security number and government-issued ID for all account holders. To make the initial deposit, you’ll need the account and routing numbers or debit card for the account you’re transferring money out of. TD Bank gives you the option of adding a checking account at the same time.

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More on TD Bank

More CD Rates

Rates and fees are accurate as of April 15, 2020. All fees and rates are subject to change at the bank’s discretion.

This article has been updated with additional reporting since its original publication.

This content is not provided by TD Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by TD Bank.

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About the Author

Karen Doyle

Karen Doyle is a personal finance writer with over 20 years’ experience writing about investments, money management and financial planning. Her work has appeared on numerous news and finance websites including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC,, and more.

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