TD Bank CD Rates and Review: Promotional Terms, Penalties and Renewal
By: Conor Keenan, AWMA® | Updated: October 29, 2026
CompareAccounts co-founder and Accredited Wealth Management Advisor® designee with 10+ years covering banking and investing. His work has appeared in The Wall Street Journal, Reuters, and Yahoo Finance.
Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.
TD Bank CDs may suit savers who want a fixed rate with access to branch service and can meet the $250 opening minimum. Compare the specific promotional term before opening: TD’s quoted yields differ substantially by term, and an automatic renewal can use a different rate. Its No-Catch CD offers limited withdrawal flexibility rather than unrestricted access.
Our view: shortlist TD when a quoted term matches your goal and the service is convenient, then compare it with online alternatives. Do not choose a long term on the assumption that every TD CD pays the same promotional yield.
Key Takeaways
- Opening deposit: The minimum for the CDs discussed here is $250.
- Term selection matters: The Pennsylvania rates reviewed October 24, 2026 ranged from 2.00% to 4.30% promotional APY across the quoted Choice terms.
- Renewal needs attention: Choice CDs generally renew at the applicable non-promotional rate unless you arrange another eligible option.
- Limited no-penalty access: A No-Catch CD permits one penalty-free principal withdrawal per term, after the first seven days.
- Calendar the maturity: TD provides a 10-calendar-day grace period beginning on the maturity date.
TD Bank CD rates by term
The table shows TD Choice quotes displayed for Pennsylvania on October 24, 2026, alongside the bank’s rate sheet effective September 25, 2026. All displayed opening-balance tiers from $250 through $100,000 and above showed the same APYs for these terms. These are dated, location-specific quotes, not a guarantee for another location or a later application. Rates can change before opening.
| Term | Promotional APY | Non-promotional APY | Minimum opening deposit |
|---|---|---|---|
| 3 months | 2.00% | 1.99% | $250 |
| 6 months | 2.00% | 1.99% | $250 |
| 9 months | 3.51% | 3.49% | $250 |
| 10 months | 2.00% | 1.99% | $250 |
| 12 months | 4.15% | 4.14% | $250 |
| 18 months | 4.25% | 4.24% | $250 |
| 24 months | 4.30% | 4.29% | $250 |
| 3 years | 2.00% | 1.99% | $250 |
| 5 years | 2.00% | 1.99% | $250 |
Check your location and term on TD’s CD page and read the current CD rate sheet before committing funds. APY includes compounding under the account’s conditions. A fixed rate protects that account’s rate during the term; it does not guarantee that the rate will outpace inflation or future offers.
Choice, No-Catch and IRA CDs
TD Choice CDs
Choice CDs provide fixed terms ranging from three months to five years in the reviewed lineup. Current promotional eligibility does not require a linked TD checking account. The bank separately displays promotional and non-promotional rates; that distinction still matters when comparing opening and renewal terms.
The opening minimum is $250, and the account does not have a monthly maintenance fee. Additional principal generally cannot be deposited during the term. Choose the opening amount and maturity date around a real goal, rather than tying up all available cash simply to obtain a quoted yield.
TD No-Catch CDs
No-Catch CDs are available in six- and 12-month terms. They allow one penalty-free principal withdrawal per term, either partial or full, but no withdrawal during the first seven days. Subsequent principal withdrawals can incur the standard penalty. This differs from an ordinary savings account, where repeated access is part of the product.
The reviewed rate sheet lists 0.05% APY for these No-Catch terms. The flexibility can therefore involve a substantial yield tradeoff compared with a promotional Choice CD. Compare an accessible savings account as well as other no-penalty CDs before paying for flexibility through a lower yield.
TD IRA CDs
Eligible TD CDs can also be held within an IRA. An IRA is the tax wrapper; a CD is the deposit investment inside it. The current rate sheet excludes the six- and 12-month No-Catch CDs from IRA availability and lists an IRA Add-Vantage CD separately. Confirm the exact available product with TD rather than assuming every CD can be opened as an IRA.
IRA contributions, transfers and distributions have tax rules in addition to the CD contract. A bank’s withdrawal-penalty exception does not automatically eliminate an IRS tax or additional tax. Start with our IRA overview if you are comparing retirement and nonretirement deposits.
Early withdrawal penalties
TD’s personal deposit agreement bases the standard CD penalty on the term and the amount of principal withdrawn. The schedule below uses the contract interest rate, rather than simply multiplying the APY. Its month-based calculation uses 30-day months.
| Original term | Interest penalty on principal withdrawn |
|---|---|
| 7–89 days | Interest for the full term |
| 90 days to less than 1 year | 3 months |
| 1 year to less than 2 years | 6 months |
| 2 years to less than 3 years | 9 months |
| 3 years to less than 4 years | 12 months |
| 4 years to less than 5 years | 18 months |
| 5 years or more | 24 months |
The penalty can reduce principal when earned interest is insufficient. TD may waive a penalty in specified circumstances such as death or legal incompetence; ask about documentation rather than assuming a waiver. No-Catch’s one permitted withdrawal is a separate product feature.
Keep emergency funds outside a standard CD. A ladder can spread maturity dates, but it does not remove the penalty on an individual rung that you break early.
Maturity, the grace period and automatic renewal
The 10-calendar-day grace period begins on the maturity date. During that window, contact TD to withdraw funds, adjust the amount or choose another available term under the bank’s procedures. Calendar days include weekends, so confirm the last actionable date and available service channels in advance.
A Choice CD generally renews for the same term at the applicable non-promotional rate unless you make another arrangement. A promotional rate is not promised for the next term. The opening APY is not the renewal APY, and today’s non-promotional quote is not a forecast of the rate when your CD matures.
No-Catch CDs generally renew into another No-Catch CD of the same term. You can discuss switching to an eligible Choice promotional term during the grace period. Eligible personal Choice CDs can be renewed online; adding or withdrawing funds can require a branch visit. No-Catch, IRA, business and other specialty accounts have different service procedures and may require phone or branch assistance.
Before maturity, save the original confirmation, current statement, maturity date and intended instructions. Afterward, verify the actual renewed term, rate and transferred amount instead of relying only on the request confirmation.
How to open and fund a TD CD
- Check availability. Select your location and confirm the specific product and term.
- Prepare identification and funding details. Follow TD’s current identity-verification and application requirements, with at least $250 for the opening deposit.
- Choose a supported channel. Eligible Choice accounts can be opened online; confirm branch or phone requirements for No-Catch and IRA products.
- Read the final disclosure. Verify the APY, contract rate, maturity, penalty, renewal terms and ownership category before funding.
- Save the records. Confirm the funded balance and maturity reminder, and retain statements you might later need for a large purchase or transfer.
FDIC insurance and remaining risks
TD Bank, N.A. is a Member FDIC. Eligible deposits are generally insured up to $250,000 per depositor, per insured bank, per ownership category. Combine other TD deposits in the same category when evaluating coverage; multiple CDs do not each create a separate $250,000 allowance. Certain retirement deposits have a separate insurance category, subject to its rules.
Deposit insurance protects covered deposits if the bank fails. It does not remove early withdrawal costs, inflation risk or the chance that better rates become available after you lock in. Use the FDIC’s Electronic Deposit Insurance Estimator for the actual ownership and balance arrangement.
Who should consider a TD CD?
A promotional Choice CD may fit a saver with a known future expense, a suitable maturity and a preference for TD’s service access. A No-Catch CD may suit someone who values one planned withdrawal opportunity enough to accept its quoted yield.
Compare another option if you need repeated withdrawals, want to add funds regularly, cannot meet the minimum or would accept a less convenient service channel for a better current quote. Avoid judging the entire lineup by the highest APY on one term.
Alternatives to TD Bank CDs
- Online fixed-rate CDs: Compare the maturity and access requirements in our Marcus CD review and Capital One CD review. Recheck current quotes rather than assuming an online bank always pays more.
- Another branch-based CD: Our PNC CD review helps compare regional availability, minimums and renewal terms.
- Accessible savings: A savings account may be a better home for emergency cash, with a variable rate and different access conditions.
- A CD ladder: Spreading funds across maturities can reduce dependence on one renewal date, while retaining each CD’s withdrawal restrictions. Explore more CD reviews before choosing the rungs.
Pros and Cons
Pros
- A $250 minimum allows smaller opening deposits than some competing CDs.
- Choice rates are fixed for the agreed term.
- Branch service can help with account administration.
- No-Catch provides one penalty-free principal withdrawal after the first seven days.
Cons
- Quoted yields vary substantially by term.
- No-Catch’s reviewed APY is much lower than the higher-yielding Choice terms.
- Standard withdrawal penalties can reduce principal.
- Automatic renewal can place funds into a non-promotional rate.
- Some changes and specialty products require phone or branch handling.
Crowd Work: Save CD records before the account closes
In a June 17, 2025 firsthand comment about mortgage documentation, a TD customer reported being unable to retrieve closed-CD history online or have it emailed. They said the bank directed them to a branch, but they did not have access to one at the time. The customer had retained deposit and withdrawal slips documenting the movement from the CD into checking.
Those records provided a paper trail, but the comment did not establish that the underwriter accepted them or that the mortgage was approved. It also does not prove that TD always handles closed-account records this way.
The practical takeaway is to download statements and retain maturity and transfer confirmations before closing or renewing a CD, especially if the money will fund a home purchase. Ask your lender which documents it requires and your bank how to obtain archived records; a transfer amount alone may not satisfy underwriting.
Sources & Research Methodology
We reviewed original CD-service discussions and relevant replies, selecting this comment because it explicitly describes the writer’s TD account and a concrete recordkeeping problem. Although posted in another bank’s forum, the selected experience concerns TD; the thread’s other-bank complaints are not attributed to TD. It is self-reported, unverified and illustrative rather than representative. Current CD terms come from TD’s official disclosures.
Frequently Asked Questions
What is the minimum deposit for a TD Bank CD?
The Choice and No-Catch CDs discussed here require $250 to open. Confirm the exact product and current account terms, especially for specialty or IRA accounts.
Do promotional TD CD rates require a checking account?
The current Choice promotional terms do not require a linked TD checking account. Confirm eligibility for your location, chosen term and opening or renewal transaction before funding.
Can you withdraw from a TD No-Catch CD without a penalty?
No-Catch permits one penalty-free principal withdrawal per term after the first seven days. A second principal withdrawal can incur the standard penalty. It is not an account for unlimited penalty-free access.
How long is TD’s CD grace period?
The grace period is 10 calendar days beginning on the maturity date. Confirm the final date and the service channel needed for your instructions. A Choice CD generally renews at the applicable non-promotional rate unless you arrange otherwise.
Can a TD CD early withdrawal penalty reduce principal?
Yes. If accrued interest is insufficient to cover the applicable penalty, the charge can reduce principal. The standard penalty depends on the original term and the principal amount withdrawn; No-Catch has a separate limited withdrawal feature.
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