TD Simple Savings account review

There's always a good time to start saving for the future. TD Bank's Simple Savings account allows children under 18 and adults to make their goals a reality by using the TD Bank platform.


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Commissions
Account management: $ 5 per month which are waived if you are under 18 or over 62 years of age or maintain a balance of $300
Check deposit: Consult
Check writing: $ 0
Transfers: $ 30 for outgoing transfers and $15 for incoming ones.
Profitability
APY: 0.02%
Rate of interest: Fixed
Interest settlement: Monthly
Advantage
Checkbook: No checkbook

Additional information of TD Simple Savings account

TD Bank Simple Savings account is available to any legal resident or U.S. citizen age 17 or older. It is a process you can complete by filling out the online form, visiting a branch or calling 1-888-751-9000.

TD Simple Savings AccountsThis interest-bearing savings account pays 0.02% APY and comes with a maintenance fee that you can avoid if you meet any of these conditions:

  • Opening it as an IRA.
  • Maintaining a minimum balance of $300.
  • Being younger than 18 or older than 62.
  • Linking it to a Relationship Checking or Beyond Checking account.
  • Linking it to a Convenience Checking account if the primary owner is between the ages of 17 and 23.
  • Establishing a $25 recurring transfer from a TD Checking account during the first year.

Among the advantages of this product, no minimum balance is required to earn dividends. Although this instrument has a limitation of 6 monthly withdrawals, it includes other attractive features:

  • No-fee ATM card
  • Free automatic transfers
  • Free digital or paper statements
  • Mobile Deposit service to deposit checks with your cell phone or tablet.
  • Ability to link this instrument to a checking account for overdraft protection.

TD Bank's Simple Savings account can be an interesting option for young people to start managing their money and for adults to save for the future.

Other savings accounts you may be interested in are those offered by Truist Bank or Wells Fargo.

Español: Cuenta de ahorro TD Simple