CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still. 1-after 11 hikes in the previous 12 meetings-it has indicated that an additional increase is still on the table. Though the Fed held its benchmark rate steady for a second consecutive meeting on Nov.

There is a $15 monthly maintenance fee but that can be waived if you maintain a minimum daily balance of $10,000, link it to an eligible TD checking account, or open an IRA.Today’s CD rates are higher than we’ve seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation. The TD Signature Savings account offers bump rate APYs and can earn up to a bump rate of 4.00% APY. It has a $5 monthly maintenance fee that can be waived by maintaining a $300 minimum daily balance, having a recurring $25 transfer from a linked TD Bank checking account, or being under age 18 or over age 62. The TD Simple Savings account earns a flat 0.02% APY on all balances. Both the TD Convenience Checking and the TD Simple Checking accounts will give you a 0.25% discount on the APR of home equity loans and personal loans. Many of the checking accounts earn interest but it is typically a very small amount. If you aren’t ready to open a CD yet, TD Bank also offers checking and savings accounts.Īll personal checking accounts are eligible TD Bank checking accounts for purposes of getting the bump rate APY on TD Choice Promotional CDs. The bank operates over 1,100 branches and 2,600 ATMs along the east coast, spread out from Florida to Maine. A merger in the 1950s created the current iteration of TD Bank. But the financial institution can trace its lineage back to the Bank of Toronto, which was founded in 1855.

In terms of assets, TD Bank is the tenth largest bank in the United States. If possible, come to the application prepared with all of your information to streamline the process. You’ll also need to fund the CD with at least a $250 minimum opening deposit, so you’ll need to have a funding source ready.Īccording to TD Bank, it should only take between 5 and 10 minutes to open a CD. As a part of the application, you’ll need to provide your Social Security Number, government-issued ID, and other personal information. You can open a TD Bank CD on the financial institution’s website. As you explore your options, consider using a CD calculator to see how your funds will grow. That’s especially true if you have a specific type of CD in mind, like a jumbo CD or a 10-year CD. If you want to find the best CD rates, the best strategy is to shop around.

Td bank cd interest rates