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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
 Visit SiteLearn More
 

TD Bank

Ally Bank

SPECIAL OFFER
TD $300 Beyond Checking Bonus - Learn More

Read TD Bank Review

SPECIAL OFFER
Online Savings Account - 0.50% 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.
0.50% APY
CD0.05% APY (up to 0.05% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).0.15% to 0.80% APY. Terms of 3 months to 5 years. 12-month CD APY of 0.55%
CheckingTD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠0.10% APY under $15,000; 0.25% APY $15,000 or more
Money Market0.01% - 0.02% APY (up to 0.03% 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 CD0.05% APY (up to 0.05% 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
SavingsStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarStar
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
 Visit SiteLearn More

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 7/23/2021.

TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

  • New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
  • Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
  • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Rush Bill Payments and more.
  • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
  • TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • Overdraft Payback - Get overdraft fees automatically reversed up to two times a year.
  • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
  • TD checking accounts come with an instant-issue debit card. And, you can pay with confidence with Zero Liability protection and 24/7 fraud monitoring.
  • Monthly maintenance fee waived on one TD Simple CheckingSM account and any Savings and Money Market accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.

Which is Better: TD Bank or Ally Bank?

Still need help deciding which bank reviews & deals 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

TD Bank

TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere.

TD Bank Hours

TD Bank is open 7 days a week, depending on the location. Here's when you can visit a branch near you.

Open TD Account

Opening an account with TD Bank is simple. Take a look at what you'll need and check out your account options in our guide.

TD Bank Routing Number

Find your TD Bank routing number by state. Get the correct number with and without a check.

Articles on Ally Bank

Ally Bank

Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.

Ally Bank Routing Number

Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.

Which Do You Think is Best?





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