TD Bank Savings Rate Audit
A major East Coast bank. Simple Savings pays 0.02% APY. The best high-yield savings accounts pay 4.40% APY — a 4.38% point gap that costs real money every year.
Data as of May 25, 2026
Annual Cost of Staying at TD Bank
| Balance | TD Bank Earns | Best HYSA Earns | You Lose |
|---|---|---|---|
| $10,000 | $2 | $440 | $438/yr |
| $25,000 | $5 | $1,100 | $1,095/yr |
| $50,000 | $10 | $2,200 | $2,190/yr |
| $100,000 | $20 | $4,400 | $4,380/yr |
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Based on your savings balance, this account maximizes your yield with FDIC protection.
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Open Rate Gap Calculator →Frequently Asked Questions
What APY does TD Bank pay on savings?
TD Bank currently pays 0.02% APY on standard savings accounts. This is significantly below the best available high-yield savings rates of 4.40% APY.
How much am I losing at TD Bank?
On a $25,000 balance, the gap between TD Bank (0.02%) and the best HYSA (4.40%) costs you approximately $1,095 per year in foregone interest.
Is it safe to switch to an online savings account?
Yes. Top online HYSAs are FDIC-insured up to $250,000 per depositor — the same federal protection as any major bank. The FDIC has never failed to pay an insured deposit.
How long does it take to switch?
Most online HYSAs take 5-10 minutes to open. ACH linking to your existing bank takes 1-2 business days. You can keep your current bank account while earning better rates on savings.