Bank Reviews

TD Bank Reviews, Rates: CDs, Savings, Money Market, Mortgages

The merger of two banks created the name for the bank TD Bank, also known as the Toronto-Dominion Bank. This well-established bank is well-known for its large clientele base and huge amount of employees. TD Bank is easily one of Canada’s largest banks. While the bank is primarily Canadian, it also does business in the United States. A merger with a bank in the United States has caused TD Bank to also have a large amount of customers in this country, which is at a total of almost 6.4 million.

Canadian business critics have named TD bank as one of the top banks in Canada. With such a prestigious standing in North America, business comes easy to TD Bank. The Toronto-Dominion bank is also well-known for the pride they take in their employees. TD Bank was easily named a top employer by a Canadian journal.

Review: TD Bank Services

Personal Banking: TD Bank not only takes pride in its services and employees, but they also offer their customers a ton of options for personal banking. A checking or savings account with TD Bank is a fairly simple process with limited fees. Banking services are only available in certain states and fees will vary based on location. However, TD offers special perks to their elderly customers and full-time students between the ages of 18-25. If you keep a high balance with TD Bank, then you can get certain financial fees waived. Toronto-Dominion bank is also highly praised for their quick mortgage loan process. Customers are denied or accepted within the same day. They also offer a Hassle-Free Mortgage Guarantee, so that customers can rely on a set interest rate after purchasing a home.

Insurance Products: TD Bank serves a lot of customers with their insurance products. Customers can purchase identity theft protection from the bank they are with to save time and money. With this bank being so skilled in providing insurance products, they are able to offer auto, home, and life insurance to those who qualify.

[tab:CDs]

TD Bank strives to meet your individual financial needs with terms ranging from 91 days to 7 years and competitive interest rates. The convenience of automatic renewal adds to these highly desirable CDs and all it takes it $250 to open and maintain most accounts.

Basic CDs: 11 months – 0.40% APY

  • $250 minimum deposit to open and maintain an account and obtain the current APY
  • No monthly maintenance fee
  • Available as an IRA
  • Other terms available, call Customer Service or visit your local store for more information

No Catch CDs

  • $250 minimum deposit to open and maintain an account and obtain the current APY
  • Convenience of one penalty-free withdrawal per term
  • No monthly maintenance fee

No Catch CD Rates as of 7/22/11

  • 6 months – 0.30% APY
  • 12 months – 0.30% APY

 

Step Rate CDs

  • $250 minimum deposit to open and maintain an account and obtain the current APY
  • Rate increases over time
  • Option to make one penalty-free withdrawal each year within 10 days after the account anniversary date
  • Available as an IRA
  • No monthly maintenance fee

Step Rate CD Rates as of 7/22/11

  • 3 years – 0.88% APY (Year 1-0.60% APY, Year 2-0.85% APY, Year 3-1.19% APY)
  • 5 years – 1.27% APY (Year 1-0.80% APY, Year 2-0.95% APY, Year 3-1.14% APY, Year 4-1.24% APY, Year 5-2.23% APY)

IRA Add-Vantage CD: 12 months – 0.35% APY

  • $250 minimum deposit to open and maintain an account and obtain the current APY
  • Incremental deposits of $500 or more can be added at any time during the term
  • No monthly maintenance fee
  • To apply for this account, call Customer Service or visit your local store

Terms & ConditionsFor the Step Rate CD the annual percentage yield is a Composite APY. The APY assumes each stated interest rate will be in effect for the length of time identified (one (1) year period). Rates are subject to change at any time without notice.

[tab:Savings Accounts]

TD Bank proves they are the most convenient bank in America by providing many differentsavings accounts. Each account serves its own purpose and can help you fulfill your savings goals.

Convenience Savings: $0.01 and more – 0.10% APY

  • No minimum initial deposit to open an account
  • $4 monthly maintenance fee waived if you meet the minimum daily balance requirement, are age 62 or over, and for IRAs
  • $250 minimum daily balance required

TD High-Yield Savings-With TD Bank Checking

  • No minimum initial deposit to open account
  • $15 monthly maintenance fee waived if you meet the minimum daily balance requirement or are age 62
  • $10,000 minimum daily balance required

TD High-Yield Savings-With TD Bank Checking Rates as of 7/22/11

  • $0.01 – $999.99 – 0.30% APY
  • $1,000 – $9,999.99 – 0.30% APY
  • $10,000 – $24,999.99 – 0.50% APY
  • $25,000 – $49,999.99 – 0.60% APY
  • $50,000 – $99,999.99 – 0.70% APY
  • $100,000 – $249,999.99 – 0.80% APY
  • $250,000 – $499,999.99 – 0.90% APY
  • $500,000 – $999,999.99 – 0.90% APY
  • $1,000,000 and more – 0.90% APY

 

TD High-Yield Savings-Without TD Bank Checking

  • No minimum initial deposit to open account
  • $15 monthly maintenance fee waived if you meet the minimum daily balance requirement or are age 62
  • $10,000 minimum daily balance required

TD High-Yield Savings-Without TD Bank Checking Rates as of 7/22/11

  • $0.01 – $999.99 – 0.05% APY
  • $1,000 – $9,999.99 – 0.05% APY
  • $10,000 – $24,999.99 – 0.25% APY
  • $25,000 – $49,999.99 – 0.35% APY
  • $50,000 – $99,999.99 – 0.45% APY
  • $100,000 – $249,999.99 – 0.55% APY
  • $250,000 – $499,999.99 – 0.65% APY
  • $500,000 – $999,999.99 – 0.65% APY
  • $1,000,000 and more – 0.65% APY

Young Saver: $0.01 and more – 0.10% APY

  • No minimum initial deposit to open account
  • $4 monthly maintenance fee waived if you meet the minimum daily balance requirement or are age 18 and under
  • $250 minimum daily balance required

Health Savings Account

  • $25 minimum initial deposit to open account
  • $20 one-time set-up fee
  • No monthly maintenance fee
  • To open a HSA, you must meet all eligibility requirements.

Health Savings Account Rates as of 7/22/11

  • $0.01 – $2,499.99 – 0.25% APY
  • $2,500 – $9,999.99 – 0.40% APY
  • $10,000 – $24,999.99 – 0.60% APY
  • $25,000 – $49,999.99 – 0.60% APY
  • $50,000 and more – 0.60% APY

Club Saver: $0.01 and more – 0.10% APY

  • No minimum initial deposit required to open account
  • No minimum daily balance required
  • No monthly maintenance fee
  • You determine the payout timing
  • Account is closed at the end of the term when funds are paid out or reinvested
  • Weekly or bi-weekly deposits can be made with automatic transfer from your other TD Bank account(s) or savings deposit ticket

Holiday Club: $0.01 and more – 0.10% APY

  • No minimum initial deposit required to open account
  • No minimum daily balance required
  • No monthly maintenance fee
  • Annual payout timing determined by TD Bank
  • Weekly or bi-weekly deposits can be made with your savings deposit ticket or transfer from your other TD Bank account(s)

Terms & Conditions: Rates are subject to change at any time without notice.

[tab:Money Market]

TD Bank offers ChoiceMoney Market which has tiered interest rates that increase with your account balance. There is no minimum initial deposit to open an account and no monthly maintenance fee of $12 with a $1,000 minimum daily balance, or for customers age 62 and over. This account allows you to write up to six checks a month, free Bill Pay and online statements.

TD Bank: Choice Money Market – New York City, NY – as of 7/22/11

  • $0.01 – $999.99 – 0.10% APY
  • $1,000.00 – $9,999.99 – 0.10% APY
  • $10,000.00 – $24,999.99 – 0.25% APY
  • $25,000.00 – $49,999.99 – 0.40% APY
  • $50,000.00 – $99,999.99 – 0.40% APY
  • $100,000.00 – $249,999.99 – 0.50% APY
  • $250,000.00 – $499,999.99 – 0.50% APY
  • $500,000.00 – $999,999.99 – 0.50% APY
  • $1,000,000.00 and more – 0.50% APY

[tab:Mortgages]

TD Bank offers straightforward, easy-to-understand products and advice for your home mortgage purchasing experience. They offer a remarkable service called Mortgage Rate Security1, which allows you to lower your rate if rates drop after you have made 12 timely payments without refinancing. They also guarantee purchasing a home is smooth with their Hassle-Free Mortgage Guarantee2. If you are a busy person, they do have free rate watch service which allows you to receive the most up-to-date rates.

TD Bank’s Featured Conventional Rates as of 7/29/11

  • 30 yr Fixed Rate – 4.625% Interest Rate – 4.680% APR – 0.000% Points
  • 15 yr Fixed Rate – 3.625% Interest Rate – 3.719% APR – 0.000% Points
  • 1 yr Adjustable Rate – 1.375% Interest Rate – 2.926% APR – 0.000% Points
  • 5 yr Adjustable Rate – 2.875% Interest Rate – 3.007% APR – 0.000% Points

TD Bank’s Featured FHA Rates as of 7/29/11

  • 30 yr Fixed Rate – 4.500% Interest Rate – 5.055% APR – 0.000% Points
  • Low to Moderate 30 yr Fixed Rate – 4.000% Interest Rate – 4.542% APR – 0.000% Points

TD Bank’s Featured Jumbo Conforming Rates as of 7/29/11

  • 30 yr Fixed Rate – 4.625% Interest Rate – 4.649% APR – 0.000% Points
  • 15 yr Fixed Rate – 3.625% Interest Rate – 3.665% APR – 0.000% Points

 

TD Bank’s Featured Jumbo Rates as of 7/29/11

  • 30 yr Fixed Rate – 4.500% Interest Rate – 4.513% APR – 0.000% Points
  • 15 yr Fixed Rate – 3.750% Interest Rate – 3.773% APR – 0.000% Points
  • 1 yr Adjustable Rate – 1.625% Interest Rate – 2.908% APR – 0.000% Points
  • 5 yr Adjustable Rate – 2.875% Interest Rate – 2.969% APR – 0.000% Points

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