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  TD Bank Simple Savings Account

TD Bank Simple Savings Account

in Savings Accounts from TD Bank · fdic

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TD Bank Simple Savings Account

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in Savings Accounts from TD Bank · Member FDIC

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Highlights
Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.02%
APY Minimum Balance N/A

TD Bank Simple Savings Account Review

TD Bank Simple Savings Account is offered by TD Bank, a bank founded in 1855 and based in Wilmington, DE. TD Bank Simple Savings Account is available in 15 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.02%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $300 or have a monthly direct deposit of $25.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. TD Bank Simple Savings Account does not charge fees on ATM transactions.
TD Bank Simple savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 15 states.
  • Higher than average wire transfer fees.
  • Monthly service charge (if minimums are not met).
TD Bank Simple savings account FAQ

Are savings accounts from TD Bank federally insured?

Yes, your TD Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does TD Bank offer a signup bonus?

TD Bank Simple savings account doesn't offer a signup bonus.

What is the minimum initial deposit for TD Bank Simple savings account?

There is no minimum deposit to open a TD Bank Simple savings account.
TD Bank Simple Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Direct Deposit to Avoid Monthly Fee $25
Minimum Opening Deposit Starting at $0

What APY does TD Bank offer?

TD Bank Simple savings account offers an APY of 0.02% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does TD Bank Simple savings account charge?

TD Bank Simple savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $300. Avoid the monthly fees by setting up a direct deposit of at least $25.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $15 fee.

What features and perks does TD Bank Simple savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - TD Bank Simple savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - TD Bank Simple savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to TD Bank Simple savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for TD Bank Simple savings account?

The customer support email for TD Bank Simple savings account is customer.service@td.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 15 states and Washington, D.C.
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Massachusetts
  • Maryland
  • Maine
  • North Carolina
  • New Hampshire
  • New Jersey
  • New York
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Virginia
  • Vermont

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Direct Deposit to Avoid Monthly Fee $25
Minimum Opening Deposit Starting at $0
Paper Statement Fee $0
Monthly Fee $0 - $5
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $50
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.02%

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