TD Bank Savings Account Interest Rates for June 2026

TD Bank pays up to 3.00% APY on its Signature Savings account, but only customers who keep a balance of $100,000 or more actually qualify for that top rate, and monthly fees apply to both of its savings products.

At a Glance

• TD Simple Savings pays a flat 0.02% APY regardless of balance
• TD Signature Savings ranges from 0.01% to 3.00% APY, with the top rate requiring $100,000
• Both accounts carry monthly maintenance fees of $5 and $15 that can be waived
• TD Bank operates branches in only 15 states plus Washington, D.C.
• Rates can vary by ZIP code, so figures reflect the New York City market

What TD Bank's Two Savings Accounts Actually Pay

TD Bank keeps its savings lineup simple: there's Simple Savings, aimed at people just starting to build a cash cushion, and Signature Savings, built for customers sitting on larger balances. Neither comes close to matching the top rates available at online banks, but the structure of each is worth understanding before you sign up.

Those figures are current as of publication and apply to the New York City region specifically. TD Bank adjusts rates by location, so someone opening an account in Florida or Massachusetts might see slightly different numbers. It's worth checking the rate for your specific ZIP code before assuming these figures apply to you.

Simple Savings: Built for Small Balances

TD Simple Savings has no minimum deposit requirement, which makes it an easy entry point for new savers. But the tradeoff is a APY of just 0.02%, far below the national average of 0.41% recorded by the FDIC as of April 24, 2025. Interest compounds monthly, so the account does grow, just very slowly.

There's a $5 monthly service fee, though TD Bank offers a few ways around it. Account holders under 18 or over 62 skip the fee automatically. New customers can also get it waived for the first year by setting up a recurring transfer of $25 or more from a linked TD checking account. Alternatively, keeping a minimum balance of $300 in the account clears the fee as well.

Withdrawals are capped at six per month. Go over that limit and TD Bank charges $9 for each additional transaction, a detail easy to overlook until it shows up as a surprise charge.

Signature Savings: The Path to 3.00% APY

Signature Savings functions as TD Bank's answer to a high-yield account, but reaching the advertised 3.00% APY takes serious cash. Without any relationship rate bump, the account's APY stays below average until the balance climbs to $250,000 or more.

There's a shortcut, though. TD Bank customers who link an eligible checking account or credit card to their Signature Savings account qualify for what the bank calls a relationship rate bump. That bump kicks in on balances of $10,000 and up, offering a meaningfully higher APY than the standard tier. Even with the relationship bump, though, you still need $100,000 parked in the account to hit the full 3.00% APY.

The monthly fee on this account runs $15, higher than Simple Savings, but there are multiple ways to avoid paying it. Maintaining a daily balance of $10,000 or more clears the fee. So does linking an eligible TD checking account. Opening the Signature Savings account as an individual retirement account also qualifies for the waiver.

Where the Fees Get Waived, and Where They Don't

Both accounts allow up to six withdrawals or transfers per month before fees apply. On Simple Savings, exceeding that limit costs $9 per extra transaction. TD Bank's own materials note a separate $3 charge structure referenced elsewhere for excess withdrawals, so it pays to read your specific account agreement closely rather than assume a single number applies across both products.

Beyond the withdrawal limits, the monthly maintenance fees are the biggest drag on either account if left unwaived. A $15 fee on Signature Savings adds up to $180 a year, which could easily wipe out whatever interest a smaller balance earns. That math changes dramatically once a balance crosses the thresholds needed for a fee waiver or a rate bump.

Where TD Bank Operates and What Else It Offers

TD Bank ranks as the tenth largest bank in the country, according to Federal Reserve data on large commercial banks, despite operating branches in a relatively small footprint. Brick and mortar locations exist only in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C. Customers outside those states cannot open a TD Bank savings account, though the bank does allow online applications for those who qualify by location.

Beyond savings and checking accounts, TD Bank offers certificates of deposit, credit cards, personal loans, and mortgages. Its CD offerings include options with higher than average APYs for existing customers, along with some CDs that permit penalty free withdrawals depending on the term. TD Bank also runs periodic promotional offers on deposit accounts, giving new customers a bonus for opening an account and meeting certain activity requirements.

How TD Bank's Rates Stack Up Against Better Alternatives

Given the low APY on Simple Savings and the steep balance requirement on Signature Savings, most savers with less than six figures parked away will find better returns elsewhere. High-yield savings accounts at online banks routinely offer APYs several times higher than TD's Simple Savings rate, with no minimum balance and no monthly fee.

Certificates of deposit are another option worth weighing, particularly for money that doesn't need to stay liquid. CDs lock in a fixed APY for a set term, ranging from a single month to several years, though early withdrawal typically triggers a penalty. Money market accounts offer a middle ground, sometimes pairing competitive rates with check writing privileges and debit card access, though they can carry higher fees or balance minimums than a standard savings account.

For savers willing to lock up cash for at least a year, U.S. government I bonds offer protection against inflation, though it's worth comparing their rates against CDs before committing. And for those who want easy access to cash without withdrawal limits, some banks now offer high-yield checking accounts that combine competitive interest with unlimited transactions and ATM access.

Why Rates Are Under Pressure Right Now

The Federal Reserve cut interest rates by a quarter of a percentage point on December 10, the third consecutive meeting with a reduction and the sixth cut since September 2024. That move brought the federal funds rate down to a range of 3.50% to 3.75%. Because savings account rates tend to track the fed funds rate closely, further declines in bank APYs are likely if the Fed continues easing. Anyone holding cash in a savings account or CD right now has an incentive to compare current offers rather than assume today's rate will still be there next quarter.