This TD Bank review 2020 consists of advantages and disadvantages of TD Bank's financial products as experienced by customers. TD (Toronto Dominion) Bank is a multinational bank headquartered in Ontario, Canada, founded in the year 1955 and is the world's 26th largest bank. The bank deals with various banking and financial products such as savings account, checking account, mortgage, etc.
TD Bank Review - Editor's Rating
3.3Overall3Support4CDs3UI/App3Charges and Fees4Checking Account3Savings Account
|1. TD Bank offers varieties of checking accounts with opening bonus of up to $300
|1. No overdraft protection with checking accounts
|2. Monthly fee can be waived by maintaining very low balance
|2. Charges fee for non TD Bank ATM cash withdrawal
|3. No minimum deposit to open an account
|3. Low APY comparable to online savings accounts.
|4. Few of the branches remains open on Sundays as well
|4. Direct deposits and monthly fee waiver are not related.
|5. No fee for international transactions
|5. Less number of ATMs
TD Bank Overall Ratings
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TD Bank Savings Account Reviews
There are three different savings account offered by TD Bank - TD Simple Savings, TD Select Savings and TD Growth Money Market with $5, $15 and $11 monthly fee respectively. There are many other options as well in the market, TD Bank is not for those who are looking for high APY, no monthly fee, no overdraft fee and other offers. Overall their savings accounts are neither too good nor too bad. They are just average savings accounts.
TD Bank Savings Account Ratings
TD Bank Mortgage Reviews
TD Bank is on of the biggest player in the market for mortgages. The reviews of most of the customers are positive and they are happy with the services. Compare to other banks the interest rates are as per the industry standard, and other criteria for approval is also on lower end. They accept lower down payment compare to other banks. Their mortgage consists of 30 year, 15 year, right step 30 year, 5/1 ARM and 7/1 ARM with APR 4.10%, 3.45%, 4.10%, 4.01% and 3.98% respectively. TD Bank does not have branches in every corner in the United States, so, it might not be feasible for few customers.
TD Bank Mortgage Ratings
TD Bank Checking Account Reviews
They offer the best checking accounts with no minimum deposits, however, there is monthly fee which can be avoided if certain conditions are fulfilled. They have six different checking accounts suitable for every individual whether old or young TD Simple Checking, TD Premier Checking, TD Student Checking, TD Relationship Checking, TD Convenience Checking and TD Sixty Plus Checking. Each of these Checking accounts has different benefits and are for different age groups and different individuals. You can get $300 as bonus if you deposit $2,500 within the first two months of opening Premier Checking account. Overall their checking accounts are good and customers are happy provided you choose as per your requirement.
TD Bank Checking Account Ratings
TD Bank Personal Loan Reviews
TD Bank offers three different unsecured personal loans -
- TD Personal Loan
- TD Express Personal Loan
- TD Personal Line of Credit
1. TD Personal Loan allows you credit of upto $50,000 with maximum five year period to repay the amount. You must be 18 years old, your area of residence must fall under one of their branches and your credit score must good enough to get an approval. Interest rates varies as per your profile and can be as low as 8% if your salary is very high, you work for an A-List company and you have a credit score of 900 plus.
2. TD Express Personal Loan can be taken for emergency situations, the bank provides loan upto $15,000 and is approved in short period of time, maximum three days. Eligibility criteria is same as TD Personal Loan.
3. TD Personal Line of Credit is similar to a credit card where in the total amount of loan is the maximum amount you can avail at any point of time, however, you can take any other amount less than the maximum amount as well. You need to pay interest only on the amount you have availed and not on the total amount reserved for you. There is no definite interest rate and it fluctuates every time. Credit Line is suitable for professional such as Lawyers, Doctors and Chartered Accountants.
TD Bank Personal Loan Ratings
TD Bank Auto Loan Reviews
TD Auto loans are same as personal loan with same limits and same eligibility criteria except auto loans are secured loan. In case of default in the payment of installments for three months the bank has the right to auction the financed vehicle as per the terms of the contract. TD Bank has customer support which serves 24 hrs a day and seven days a week. In case of any queries regarding any product or services you may call them at 1-888-751-9000.
TD Bank Auto Loan Ratings