TD Bank Savings Account Rates April 2011

To accumulate savings in a secure and systematic way, savings bank account is the best option. Formally it was difficult for middle class people to open a bank account as it required heavy initial deposit. Nowadays banking systems have changed so that even middle and low income groups can put their small savings in a bank. TD bank is one organization which provides attractive savings schemes to different levels of people. Lets quickly review the high interest savings accounts schemes offered by the TD bank.

First category is the Convenience Savings Deposit under which no initial deposit is required to open an account and the interest rate is 0.10% APY. Next is the High Yield Savings with TD checking. Under this scheme, for a balance of $0.01 to $9,999.99, the interest rate is 0.30% and for a balance of $10,000 to $24,999.99, the interest rate is 0.60%, for a balance of $25,000 to $49,999.99, the TD Bank Savings Account rate is 0.70%, for a balance of $50,000 to $99,999.99, the interest rate is 080%, for a balance of $100,000 to $249,999.99, the interest rate is 0.90% APY and for balances of $250,000 and above, the interest rate is 1%.

There is a scheme for youngsters called the Young Saver where the TD Bank savings rates are 0.10% APY and the minimum balance required is $0.01. Under the Health Savings Account, the interest rate is 0.02% for balance up to $2,499.99 while for a balance of $2,500 to $9,999.99, the rate is 0.40% APY. For a balance of $10,000 and above, the interest rate is 0.60% APY. There is no monthly maintenance fee and the minimum initial deposit is $25.

There is another scheme called the Club Saver where the savings account rates at TD Bank are 0.10% and required balance is $0.01.These are attractive and competitive for all kinds of investors.

 

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