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TD Bank CD Rates: July 2026

TD Bank's CD interest rates are competitive, but only if you're an eligible TD customer

By

Rebecca McClay

Updated June 29, 2026

Woman at home checking her CD statements online — andresr / Getty Images

Key Takeaways

TD Bank offers three different types of CD—a standard CD, a penalty-free CD, and a step-up CD—with a wide range of terms and rates of up to 3.51%.
If you're an existing TD Bank checking customer, you can enjoy a special relationship rate bump.
The bank currently offers CDs in 15 states and the District of Columbia.
TD Bank has decent rates for some terms, but it usually can't match the best CD rates available nationwide.

TD Bank Choice CD Overview: 3 Month
Term	Bump Rate APY	Standard APY
3 month	2.00%	1.99%
6 month	2.00%	3.49%
9 month	3.51%	1.99%
10 month	2.00%	1.99%
12 month	3.25%	3.24%
18 month	2.75%	2.74%
24 month	2.50%	2.49%
36 month	2.00%	1.99%
60 month	2.00%	1.99%

The deposit range for Choice CDs is $250 to $100,000+.

TD Bank CDs: Key Features

TD Bank CD Key Features
CD Type	APY	Minimum Balance	Term Range	Early Withdrawal Penalty
Choice	1.99%–3.51%	$250	3–60 months	3 months to 18 months' interest
No-Catch CD	0.05%	$250	6 - 12 months	3 months to 18 months' interest
Step Rate CD	0.05% to 0.25%	$250	3 - 5 years	3 months to 18 months' interest

Pros and Cons

Pros

Competitive rates
Low minimum deposit
Variety of terms

Cons

Early withdrawal penalty
Potentially higher rates elsewhere

Pros Explained

Competitive rates: TD Bank offers interest rates as high as 3.51% on some of its CDs, which is fairly competitive.
Low minimum deposit: You can get a TD Bank CD for as little as $250 down.
Variety of terms: TD bank CDs have a variety of term lengths, so you can choose one that best fits your financial goals.

Cons Explained

Early withdrawal fees: The penalty for early withdrawals, common on many CDs, is up to 18 months' worth of interest.
Potentially higher rates elsewhere: While TD Bank CD rates are competitive, you may be able to find CDs with greater returns by shopping around.

About TD Bank

TD Bank, established in 1855, is a subsidiary of the Canadian Toronto Dominion Bank, TD Bank’s U.S. headquarters is in Cherry Hill, New Jersey. It currently boasts more than 23 million worldwide customers and has over 1,100 brick-and-mortar locations in the U.S. along the East Coast.

In addition to CDs, it offers checking accounts, savings accounts, credit cards, personal loans and mortgages.

Alternatives to TD Bank CDs

High-yield savings accounts: If you’re willing to open an online savings account elsewhere, you may be able to earn higher rates than what TD Bank CDs offer. See the best high-yield savings account rates to compare how much you could earn.
High-yield checking accounts: You may find relatively high rates with some checking accounts. Be aware of their requirements and limits. The best high-interest checking accounts give you easy access to your money.
Certificates of deposit (CDs): You can also choose from a range of CDs from other financial institutions.
Money market account: Money market account can also provide a return on your savings. Check the best money market account rates to see how it compares.
Treasury securities: These government-backed bills, notes, and bonds sometimes offer even higher rates than CDs and may be more liquid.

Frequently Asked Questions (FAQs)

Do You Need a TD Bank Checking Account to Open a CD Account?

It's not required to have a TD Bank checking account to open one of the bank's CDs, but you do need a personal checking account to qualify for the highest APYs available with TD Bank’s Choice CD (to get the relationship bump rate). The checking account must be open and in good standing at the time you open or renew your TD Bank CD.

What Is the Minimum Deposit Required to Open a TD Bank CD Account?

TD Bank has a minimum deposit requirement of $250 on all of its CDs. However, the bank's Choice CD is a tiered CD, which means that you'll need to deposit more than the minimum to earn a higher rate.

Does TD Bank Have Early Withdrawal Penalties for CD Accounts?

Yes, the bank charges an early withdrawal penalty based on the term of your CD. Here's a quick breakdown of what to expect:

What Is TD Bank’s Step Rate APY?

TD Bank's Step Rate CD offers an APY that increases each year at a guaranteed rate. The three-year and five-year Step Rate CDs have a different rate each year, along with a composite APY that shows the overall amount earned over the term.

Your Guide to CDs

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