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TD Bank vs Ally Bank

TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Ally Bank? Read our comparison chart below.

TD Bank has 1,300 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.

While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.

Compare TD Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 TD BankAlly Bank
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TD Bank

Ally Bank

SPECIAL OFFER
TD Beyond Checking - Learn More

Read TD Bank Review

SPECIAL OFFER
Online Savings Account - 1.00% APY - Learn More

Read Ally Bank Review

 

Benefits and Features

Savings0.05% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.
1.00% APY
CD0.10% - 0.15% APY (up to 0.50% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).0.35% to 1.10% APY. Terms of 3 months to 5 years. 12-month CD APY of 1.00%
Checking 0.10% APY under $15,000; 0.50% APY $15,000 or more
Money Market0.01% - 0.10% APY (up to 0.15% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old.
0.50% APY
Customer Service24/7 Live Customer Service (Telephone)
24/7
ATMsApproximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and FloridaOver 43,000 no-fee Allpoint ATMs
IRA CD0.10% - 0.15% APY (up to 0.50% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). 
Locations1300 locations along the east coast.
Online Only
 

CreditDonkey® Reviews

 TD BankAlly Bank
Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • Extended banking hours
  • Low requirements to waive monthly fees
  • No foreign transaction fees
Cons:
  • No free checking
  • Low APY
  • Only on East Coast
Pros:
  • CD options
  • No account minimums
  • Good customer service
Cons:
  • Low Checking APY for lower balance customers
Bottom LineEast Coast bank with relatively low minimum balance requirements... Read full reviewSolid online bank with a great user-friendly website and customer service... Read full review
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What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code.

    Ally Bank: Pricing information from published website as of 07/30/2020.

    Which is Better: TD Bank or Ally Bank?

    Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing TD Bank or Chase.

    In short: Ally Bank's savings and money market are worth mentioning.


    Articles on TD Bank


    Articles on Ally Bank


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