TD Bank Savings Account Interest Rates for June 2023

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When it comes to stashing your savings somewhere, the interest rate offered is a top concern for many. After all, a traditional savings account could leave your savings collecting little more than dust. If you want to put your funds to work for you without giving up easy access, a high-yield savings account is a worthwhile option.

Read: How To Guard Your Wealth From a Potential Banking Crisis With Gold

Here’s a closer look at the TD Bank savings account options. With the information all in one place, you can decide if TD Bank is the right place for your funds.

TD Bank Savings Accounts

In terms of asset size, TD Bank is one of the top banks in North America. The large bank is known for offering top customer service and convenient checking account options. Additionally, TD Bank offers two savings account options to consider. Below you’ll find a closer look at both account options.

TD Simple Savings

The TD Simple Savings account is designed for anyone looking to build their savings. Although the account comes with a $5 monthly maintenance fee, you can tap into many ways to avoid the fee. You must meet one of the requirements below to waive the monthly fee:

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One of the account benefits is that you’ll earn interest on your savings. The APY tied to the account is .

TD Signature Savings

The TD Signature Savings account comes with a monthly maintenance fee of $15. But you can get the fee waived if you meet one of the following requirements:

The interest rate tied to the TD Signature Savings account varies based on your relationship with the bank. If you link an eligible TD Bank personal or small business checking, home equity loan, credit card or mortgage, then you get access to the relationship bump rate. In other words, TD Bank chooses to reward its loyal customers with a slightly higher interest rate.

With a higher balance, you’ll also unlock higher interest rates. With that, savers who like having access to a large stash of cash might find an incentive to work with the TD Bank Signature Savings account.

TD Bank Savings Account Interest Rates

Below you’ll find a concise breakdown of the interest rates associated with each TD Bank account.

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Account Standard APY APY (with Relationship Bump Rate) Balance required for APY
TD Simple Savings N/A $0+
TD Signature Savings $0.01 to $9,999.99
TD Signature Savings $10,000 to $24,999.99
TD Signature Savings $25,000 to $49,999.99
TD Signature Savings $50,000 to $99,999.99
TD Signature Savings $100,000 to $249,999.99
TD Signature Savings $250,000+

Based on the information above, you can see that you’ll need substantial savings to unlock the best rates available through TD Bank. Additionally, you’ll need to have a qualifying TD Bank account to unlock the top rates. If you have less than $10,000 to save or don’t currently work with TD Bank, then the interest rates listed above might not be enticing enough to open a savings account through this bank.

How Do TD Bank Savings Rates Stack Up?

When you look at your options, it’s clear that the TD Signature Savings account offers a higher APY than the TD Simple Savings account. If your priority is finding the higher interest rate within TD Bank, then the TD Signature Savings account stands out. That’s especially true if you have a qualifying account to push your APY into the higher relationship bracket.

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But it’s natural to ask yourself how the TD Bank savings rates stack up against other account options.

In contrast to the national average deposit rate of 0.40%, the TD Signature Savings account looks attractive. But the reality is that you can find high-yield savings accounts offering more attractive interest rates with fewer banking relationship strings attached.

For example, TAB Bank offers a high-yield savings account with a APY. And it doesn’t come with a minimum opening balance requirement or monthly service fees. In another example, American Express National Bank, Member FDIC, is offering a high-yield savings account with an annual percentage yield (APY) of . Plus, you won’t find minimum balance requirements or monthly fees attached.

If you want to explore even more high-yield savings accounts with attractive rates and minimal fees, take a look at GOBankingRates’ list of top high-yield savings accounts.

Bottom Line

A quick search shows that you can find higher savings rates through other financial institutions. If you are looking to put your savings in an account with the market’s top APYs, then TD Bank likely won’t be the right fit.

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However, TD Bank might be a better choice for an existing TD Bank customer who wants to keep money management simply by sticking with the same bank. If you have at least $10,000 to save, you’ll find a reasonably high interest rate when you link your other TD Bank accounts.

As a saver, you’ll have to decide whether or not TD Bank is the right place to stash your savings. If these accounts don’t suit your needs, explore other high-yield savings account options today.


The right savings account can make all the difference. Below is some information to help you get started:
  • Which bank gives 7% interest on a savings account?
    • Landmark Credit Union offers an APY of 7.50% on balances up to $500 in its Premium Checking account. Beyond this account, you'll be hard-pressed to find an interest rate above 7%.
  • Does TD Bank have a high-interest savings account?
    • Yes. TD Bank has a high-interest savings account. However, it's possible to find higher APYs available elsewhere.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of June 13, 2023.

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