TD Bank CD Rates: Compare Today's TD Bank CD Rates

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TD Bank (Member FDIC) has three types of CDs: the TD Bank Choice Promotional CD - Product Name Only, TD Bank No-Catch CDs - Product Name Only, and TD Bank Step Rate CDs - Product Name Only.

TD Bank CD Rates

TD Bank Choice Promotional CD Rates

TD Bank's most common type of CD is the TD Bank Choice Promotional CD - Product Name Only. Choice Promotional CDs have two interest rates: the standard rate and the relationship bump rate  — you're eligible for the bump rate if you have an eligible TD Bank checking account in good standing when you open or renew your CD. The bump rate is higher for some terms, while it doesn't make a difference on others.

CD rates are the same in many areas, but they can vary by location. Here are the TD Bank Choice Promotional CD rates for New York City, New York:

TD Bank No-Catch CD Rates

TD Bank No-Catch CDs - Product Name Only are no-penalty CDs that allows one penalty-free withdrawal per term. The rates are as follows:

TD Bank Step Rate CD Rates

TD Bank Step Rate CDs - Product Name Only increase your rate every year, and allow one penalty-free withdrawal at each year mark. You can choose from a 3-year or 5-year term. Here are the 3-year rates:

Here are the 5-year rates:

Although the rates are still relatively low, you'll still earn more over the term than you would with a 3-year or 5-year Choice Promotional CD term.

TD Bank CD Rates Pros and Cons

How TD Bank CD Rates Compare

TD Bank CDs vs. Chase Bank CDs

As with TD Bank, Chase CD rates can vary by location. And like TD Bank, its only competitive rates are relationship rates, and only on certain terms. Your choice between the two could come down to which term you want to open — for example, you'd earn a higher relationship rate on a 3-month CD with Chase CD - Brand Name, but the 6-month relationship rate is better with TD Bank.

Chase is a good option if you want to open a longer-term CD, because it has terms up to 10 years. But it doesn't have any no-penalty CDs or step-up CDs, like TD Bank does.

TD Bank CDs vs. Bank of America CDs

Bank of America CD rates depend on where you live, and it only pays high rates on certain terms. Like TD Bank, it has three types of CDs. The best fit could come down to which type of CD or term length you want.

The Bank of America Fixed Term CD - Product Name Only pays low rates overall, but in certain markets, it pays good rates on 3-month, 4-month, and 5-month terms. It has terms up to 10 years.

The Bank of America Featured CD - Product Name Only works similarly to the Fixed Term CD, except it only has five terms: seven months, 10 months, 13 months, 25 months, and 37 months. The 7-month and 13-month terms pay the highest rates. The 25-month CD rate is decent, while 10-month and 37-month CD rates are low.

The Bank of America Flexible CD - Product Name Only is a 12-month no-penalty CD that pays Bank of America Flexible CD - APY APY. So if you want the best no-penalty CD rate, Bank of America is definitely a better choice than TD Bank.

Why You Should Trust Us: How We Reviewed TD Bank CDs

To review TD Bank CDs, we used Insider's certificate of deposit methodology.

We look at interest rates, minimum opening deposits, CD term variety, early withdrawal penalties, ethics, customer support, and the mobile app. We assign each category a rating between 0 and 5, then average the scores together to calculate the CDs' overall ratings.

We did not factor in early withdrawal penalties when rating the No-Catch CD, since it's a no-penalty CD.