TD Bank Simple Savings Account

TD Bank Simple Savings Account Review

TD Bank Simple Savings Account is offered by TD Bank, founded in 1855 and based in Wilmington, DE. TD Bank Simple Savings Account is available in 16 states across the USA.

• Low APY. The maximum annual percentage yield for this account is only 0.02%.
• Charges a monthly fee. 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.

Pros	Cons
Interest-yielding account.	No signup bonus. Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card Not FDIC-insured. Only available in 16 states. Higher than average wire transfer fees. Monthly service charge (if minimums are not met).

Are savings accounts from TD Bank federally insured?

No, your TD Bank savings accounts are not insured by a federal insurance agency. This means that if TD Bank were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

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:

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.