The Toronto-Dominion Bank, commonly known as TD bank, was created through a merger in 1955 between the Bank of Toronto and the Dominion Bank. It acquired Canada Trust in 2000. Since then, it has become one of the largest banks in Canada and expanded globally into international markets.
TD Bank is a full-service financial institution, offering its 15 million Canadian customers personal banking, investing, insurance, mortgage, and loan products. It also owns MBNA, a Mastercard provider in Canada that provides co-branded TD credit cards.
Overview
- The second-largest bank in Canada (by net worth)
- Full-service bank with an extensive product menu
- Highly-rated mobile apps
- Valuable welcome bonuses and promotional offers
- Winner of best home and condo insurance in our Best Of Money Awards
Rating methodology
TD's overall rating is 4 out of a possible 5 stars. This number is an average of all the individual products we've rated so far, which you can find more info on below. Each of these are scored by breaking them down into their main parts, then comparing each feature to similar products on the market.
TD Bank accounts: chequing and savings
TD has four tiers of chequing accounts, a student chequing account, and a couple of U.S. chequing accounts. There are also three savings accounts to choose from. Chequing account fees are between $3.95 and $30.95.
The two noteworthy chequing accounts are the TD All-Inclusive Banking Plan and the TD Unlimited Chequing Account. Both offer unlimited transactions and a welcome bonus up to $450. All of TD’s savings accounts are bare bones, with the maximum interest rate reaching just 0.85% on the TD ePremium Savings Account.
TD Minimum Chequing Account
12 transactions a month + Free for GIS recipients and RDSP beneficiaries.
TD Bank credit cards
As one of the largest banks in the country, it's no surprise that TD has an extensive lineup of credit cards, from excellent travel cards to valuable low-interest options. Some come with considerable insurance coverage, and some have extra perks like free roadside assistance. Those with TD All-Inclusive Banking Plan are eligible for an annual credit card fee rebate, too.
The TD Aeroplan Visa Infinite Credit Card is one of Canada's best travel cards. Users get exclusive perks via the Aeroplan program, including preferred pricing on reward flights, a free checked bag, and a $100 NEXUS rebate.
| Credit Card | Score | Welcome Bonus | Annual Fee | Avg. Rate of Return | Apply | Card |
|---|---|---|---|---|---|---|
TD® Aeroplan® Visa Infinite* Card  | 45,000 points (Terms) | $139 1st year free | 2.32% | Apply | ||
TD® Aeroplan® Visa* Infinite Privilege* Credit Card  | 85,000 points (Terms) | $599 | 2.77% | Apply | ||
TD® Aeroplan® Visa Platinum* Card  | 15,000 points (Terms) | $89 1st year free | 1.55% | Apply | ||
TD First Class Travel® Visa Infinite* Card  | 165,000 points (Terms) | $139 1st year free | 1.97% | Apply | ||
TD Platinum Travel Visa* Card  | 50,000 points (Terms) | $89 1st year free | 1.35% | Apply | ||
TD Cash Back Visa Infinite* Card  | $245 (Terms) | $139 1st year free | 1.85% | Apply | ||
TD Cash Back Visa* Card  | $50 (Terms) | $0 | 0.71% | Apply | ||
TD Rewards Visa* Card  | 15,152 points (Terms) | $0 | 0.89% | Apply | ||
TD Low Rate Visa* Card  | N/A (Terms) | $25 | 0% | Apply |
TD Bank insurance
TD Insurance is owned by TD Bank and has coverage for most of life’s necessities – from travel and life to home and auto. This full menu of insurance options makes bundling easy.
Although TD may not have the lowest rates, it does score high in home and condo insurance. It’s convenient for TD customers to apply, and there are discounts for doing it online.
TD Bank investing
With TD Direct Investing, TD makes investing easy. You can use the platform to manage your own investments or work with an advisor to get advice on your portfolio. There's also TD Easy Trade, which is a bit more basic than TD Direct Investing but an excellent choice for beginner investors.
As for your registered accounts, TD has a wide selection of GICs and mutual funds. Most of these have low minimum investment requirements and fairly flexible investment terms. Unfortunately, the return rates aren’t that competitive, and fees can be steep.
TD Bank loans
TD offers a personal line of credit where you can borrow up to $50,000. With flexible payment terms and lower interest than credit cards, a line of credit can be a viable option if you need to pay off debt or make a large purchase. Clients can choose either fixed or variable interest for their TD Personal Line Of Credit, and funds are accessible through online banking, ATMs, cheques, and even a debit card.
These noteworthy features help this loan rank highly on our list of best lines of credit in Canada.
TD Bank mortgages
Mortgage rates at TD are based on the TD prime rate, currently at 4.95%. While overall rates are underwhelming, TD mortgages offer flexible payment options and easy access to TD mortgage insurance. Plus, TD has a convenient mortgage calculator.
The TD Home Equity FlexLine is an alternative to a standard mortgage, allowing customers to borrow up to 80% of their home's value as a revolving credit. A HELOC is flexible, secure, and has lower interest rates than other types of loans.
FAQ
Who owns TD Bank Canada?
TD Bank is part of the TD Bank Group, with many subsidiaries, including TD Wealth, TD Securities, and TD Insurance. It’s a public company traded on the Toronto and New York stock exchanges under the ticker symbol TD.
Is TD customer service good?
In a 2024 study by J.D. Power, TD earned a 60.8% score for customer satisfaction. A 2024 survey by Surviscor awarded TD just 38% for customer service experience. These scores are similar to those of other big banks.
What are the TD Bank mortgage rates?
TD sets its own mortgage prime rate, though it is currently the same as Canada’s prime rate (4.45% right now). At the time of writing, TD's regular mortgage rates range from 6.09% to 8%, depending on type and term length.
How many TD bank locations are there?
TD bank has 1,060 branches and nearly 3,500 ATMs to serve its 14 million clients. TD also has over 1,100 locations in the U.S.A., serving more than 10 million retail, small business, and commercial customers.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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