TD Bank sells TD Choice Promotional CDs in terms from 3 months to 5 years, plus TD No-Catch CDs that allow one no-penalty withdrawal per term. TD’s CD page shows a promotional and a non-promotional APY for each term and deposit tier, and the rates move, so this page does not repeat them. Check the current numbers at td.com before you decide.
TD Bank CD Terms and Deposit Tiers
| Feature | Detail (per TD’s CD page) |
|---|---|
| Terms shown | 3, 6, 9, 10, 12, 18 and 24 months, 3 years and 5 years |
| Deposit tiers | $250 to $9,999.99; $10,000 to $49,999.99; $50,000 to $99,999.99; $100,000 and up |
| Minimum deposit | $250 |
| Rates shown | A promotional APY and a non-promotional APY for each term and tier |
| Grace period | 10 calendar days from the maturity date |
TD Bank operates mainly along the US East Coast, and products can vary by location.
TD Bank’s Low Minimum Deposit
TD advertises a $250 minimum deposit as a benefit of its CDs. If you are working with a smaller amount, a savings account may be a better fit, since it has no term.
The Renewal Risk
TD says a TD Choice Promotional CD automatically renews to the same term at the non-promotional rate in effect at renewal. If you take action during the 10-calendar-day grace period, you can renew into a promotional term instead. If you open a promotional TD Bank CD:
- Put the maturity date on your calendar
- During the grace period, compare TD’s current offers with other banks’ CD rates
- If TD does not have a competitive rate at renewal, you can withdraw the funds without penalty during the grace period
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