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Compare TD savings account options

Compare TD savings accounts to save cash and earn interest. Plus, check out alternative savings accounts.

If you’re looking to grow your money with one of Canada’s biggest banks, you might be considering opening a TD bank account. Here’s what you need to know about your TD savings account options including fees, features and alternative options to consider.

Compare TD savings account options

Learn more about the following TD accounts for saving:

Finder independently collects TD Bank savings account info. TD Bank savings accounts are not available through this site.

TD Every Day Savings Account

The TD Every Day Savings Account is for those who are just starting to save or those who want frequent access to their money. This account comes with a 0.01% interest rate, a $0 monthly fee and unlimited free transfers to your other TD deposit accounts. Other types of transactions cost $3.00 each, but you get 1 free transaction per month. International students get a 0.25% bonus interest rate with this account.

Alternative: Simplii High Interest Savings Account

Earn between 0.4% and 1.25% (depending on your balance) with the Simplii High Interest Savings Account. Offered by Simplii Financial, an online bank owned by CIBC, this account comes with a $0 monthly fee, $0 unlimited transfers and transactions and no minimum balance requirement. Learn more here.

TD High Interest Savings Account

If you have a more ambitious savings goal, you might get there with the TD High Interest Savings Account. You’ll earn 0.05% interest if you have $5,000+ in your account. Balances of $4,999.99 of less earn 0% interest. Each transaction costs $5.00 unless you keep a minimum balance of $25,000, in which case, these fees are waived.

Alternative: Scotiabank MomentumPLUS Savings Account

Earn up to 6.05% for 3 months on your first account opened. Continue earning interest at the regular rate of 1.2%. Plus, get a bonus rate of 0.85% – 1.25% when you leave funds in your account for 90 – 360 days. The monthly fee is $0, the minimum balance is $0 and you get free transfers between Scotiabank accounts. Learn more here.

TD ePremium Savings Account

The TD ePremium Savings Account may be a good choice for those who enjoy earning a higher interest rate and prefer to do most of their banking online. This plan comes with a $0 fee and pays 1.85% interest on balances of $10,000+. However, the interest rate for balances up to $9,999.99 is 0%.

The TD ePremium Savings Account comes with free online transfers to other TD Canada Trust deposit accounts, but other types of transactions cost $5.00 each. International students get a 0.25% bonus interest rate with this account.

Alternative: Neo Money Account

Offered by Neo Financial — an online bank founded in Calgary, Alberta in 2019 — the Neo Money Account is a chequing and savings account rolled into one. Earn 1% interest on every dollar you save, plus get cashback on purchases made at 10,000+ partner retailers. The monthly fee is $0, and the minimum balance is $0. Learn more here.

Compare other savings accounts

Scotiabank MomentumPLUS Savings Account logo

Scotiabank MomentumPLUS Savings Account

★★★★★

Finder rating 4 / 5

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Interest Rate

6.05% for 3 months, 1.20% thereafter


Transaction Fee

$5.00


e-Transfer Fee

$0


Minimum Balance

$0

EQ Notice Savings Account logo

EQ Notice Savings Account

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Interest Rate

5.00%


Transaction Fee


e-Transfer Fee


Minimum Balance

Simplii High Interest Savings Account logo

Simplii High Interest Savings Account

★★★★★

Finder rating 3.9 / 5

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Interest Rate

5.90%


Transaction Fee

$0


e-Transfer Fee

$0


Minimum Balance

$0

Looking for alternatives to TD savings accounts? The Neo Money Account pays 1% interest and comes with $0 transactions and a $0 monthly fee. You can also score a high rate of 5.00% with a EQ Notice Savings Account, which comes with $0 transactions and a $0 monthly fee.

Look for high bonus rates and promotional offers to grow your money faster. For instance, the Simplii High Interest Savings Account is offering 5.90%, after which you’ll continue to earn at the regular interest rate of 0.4%.

It’s common to find accounts with low or no fees offered by online banks, which are federally regulated and usually backed by the CDIC (Canada Deposit Insurance Corporation), just like Canada’s Big Banks.

TD bank interest rates on savings accounts

Depending on the TD bank account you have, the interest rate can vary from 0% for balances under $5,000 with the TD High Interest Savings Account to 1.85% for balances of $10,000+ with the TD ePremium Savings Account. Here are regular, non-promotional TD bank savings account interest rates as of March 2, 2023.

AccountRegular minimum rateRegular maximum rate

TD Every Day Savings Account

0.01%N/A

TD High Interest Savings Account

0%0.05%

TD ePremium Savings Account

0%1.85%

The benefits of TD savings accounts

TD savings accounts come with the following perks:

  • No monthly fees. All TD savings accounts come with zero monthly fees.
  • Automated savings. Set up pre-authorized transfers to your account on a daily, weekly or monthly basis.
  • TD mobile deposit. Take a picture of the front and back of your cheque, and deposit it via mobile app.
  • TD Canada Trust online banking (EasyWeb) and mobile app. View balances for your TD bank accounts. Transfer funds, deposit cheques, pay bills and more through TD Canada Trust online banking or via mobile app.
  • TD Online and Mobile Security Guarantee. You will receive a full reimbursement from TD for losses due to unauthorized account activity as long as you’ve met your security responsibilities (such as using up-to-date browsers and security software).
  • TD Fraud Alerts. TD account holders who have provided a current phone number will get immediate notifications of any suspicious account transactions.

How to open a TD savings account

Before you open an account online with TD, make sure you meet the eligibility requirements. Generally, the eligibility requirements for TD bank accounts include:

  • Age. You must be at least the age of majority in your province or territory (18 or 19 years old).
  • Student proof. You have to provide proof that you are a full-time post-secondary student to open a TD Student Chequing Account.

Information you’ll need for your application

After checking that you’re eligible for the TD savings account you want, provide your full name, address and contact information as well as an acceptable form of ID such as a driver’s license or permanent resident card.

Frequently asked questions about TD savings accounts

Written by

James Wan

James Wan was a writer for Finder. James graduated with a Communications Degree with a Minor in Journalism from Simon Fraser University and also received his Marketing Management Diploma from the British Columbia Institute of Technology shortly after. See full profile

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