Posted by Chuck on January 17, 2019
High-Yield APY Accounts

Published on January 17th, 2019 | by Chuck

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[Expired] [Targeted] TD Bank 2.50% APY Savings Account, Guaranteed for 12 Months

Deal has expired, view more TD Bank deals by clicking here

The Offer

Direct Link to offer 

  • TD Bank just send out an email offer to some people to get a 2.50% APY rate on a savings account, guaranteed for 12 months.

The Fine Print

  • This offer is only available to customers who have received the introductory rate email.
  • Offer expires April 17, 2019.
  • Minimum $20,000 required to get the rate. Maximum $999,999.
  • Funds must be new deposits not currently held within a TD Bank retail deposit account. (It’ll probably also work to transfer funds out and then back in to fulfill the “new funds” requirement.)
  • Must link the savings account with an eligible account. Eligible accounts include TD Bank personal mortgage, home equity, credit card or active personal or small business checking accounts. An active checking account must have at least three customer-initiated deposit, withdrawal, payment or transfer transactions each calendar month to qualify for the rate bump during the following month. 

Our Verdict

I’m guessing this was sent out to some/all TD Bank checking customers. This is just about the best available rate without having to lock your money up in a CD. The downside of this offer is that they likely won’t continue raising the rate, it’ll probably stay steady at 2.50% for the entire 12 months.

Mainly makes sense for those who anyway use TD, anyway, for their checking, credit card, or mortgage.

Hat tip to reader Chris and Vladimir



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Avi
Avi

Yay! You must be proud of yourself.

G
G

I received the email, I no longer have checking but I have credit card with TD.

nick
nick

hi, i was worried about closing my checking acc with them so they don’t close my CC…. is it safe to close the checking and keep the CC? thanks

Trevor
Trevor

The difference with going for an offer like this is that it’s all but certain to drop below 0.2% after the 12 months is up.

Theorem Ox
Theorem Ox

I’ll pass on this offer myself. Too many conditions for my liking and considering the details of their standard public offer, I am also inclined to agree with Chuck’s suspicion that this account likely won’t remain competitive with potential future rate increases during the promo period (or afterwards for that matter).

Worth mentioning is that the TD Preferred Savings account comes with a $15 monthly maintenance fee if balances fall under $20k (at least for New York accounts).

Eli
Eli

…and Marcus by Goldman Sachs are matching in 3.. 2.. 1…

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