What is the best TD savings account?

Posted on by Muna Meyer

What is the best TD savings account?

Amongst TD Canada Trust’s savings accounts, the TD High Interest Savings Account offers the highest interest rate and no monthly fees. Although there are transaction fees on ATM withdrawals and e-transfers. However, debit transactions and transfers are free if you maintain a monthly balance of at least $25,000.

Is TD savings account free?

Come on in and open a TD Simple Savings account. It’s free for customers aged 18 and under, and it’s easy to add money to your account in store, at the ATM, or by mobile deposit. That’s all you need to do to start saving money in your own bank account.

How much do I need to keep in my TD savings account?

TD Simple Savings No minimum deposit is required to open this TD Bank account unless you open it as an IRA, which requires a $300 minimum. The account has an interest rate of 0.05% APY. Fees: A $5 monthly maintenance fee is charged unless you maintain a minimum daily balance of at least $300.

Is it good to open a savings account?

“A savings account allows you to save for large things you want to purchase by keeping those funds siloed in a place where it’s harder for you to spend them,” Sturgeon says. Since a federal regulation generally only allows six withdrawals per month, you will have fewer opportunities to derail your savings goals.

How much money do I need to keep in my TD savings account?

How do I waive TD monthly fee?

Here’s how to get your fees waived on qualifying accounts:

  1. Maintain a Minimum Account Balance.
  2. Schedule Qualifying Direct Deposits.
  3. Link Your TD Bank Accounts.
  4. Take Advantage of Student and Senior Waivers.
  5. Opt Into Overdraft Protection.
  6. Stick With Standard Overdraft Service.
  7. Subscribe To Low Balance Alerts.

What are the disadvantages of a savings account?

Three disadvantages of savings accounts are minimum balance requirements, lower interest rates than other accounts/investments, and federal limits on saving withdrawal. If you’re fortunate enough to have extra money for long-term goals, first, pat yourself on the back!