What You Need To Open A Student Account At TD Bank?

One of the challenges students face is not having a personal bank account, while this is very important, most students find it hard to open one for themselves. What You Need To Open A Student Account At TD Bank

What You Need To Open A Student Account At TD Bank?

First of all, what is a TD bank account and why is one important?

The word TD means Term Deposit. A TD bank account is a term deposit or fixed deposit bank account which allows users to deposit money for a fixed period and accumulate interest over time.

There are so many other banks with great features but TD bank stands out and this is why:

TD bank is supposedly America`s most convenient bank has been in operation for well over 150 years providing convenient and unalloyed customer services across the nation. TD Bank has the flexibility to allow users to choose from a variety of five different checking accounts and three different savings accounts.

Of course, they are not infallible like every other entity but have proven to be outstanding in comparison to most other banks, providing great benefits like high-interest rates, easy online access, and whatnot.

There are a lot of things to consider when opening any bank account especially if you are doing it for the first time, If you have it in mind to open a TD bank account or any bank account for the first time, then this article is for you.

Steps to opening a TD bank account:

Step 1; The first thing you want to do opening any bank account of course is to ensure you have all the necessary information at hand.

 Most banks will require that you provide the following detail:

l Your legal full name

l Address

l Date of birth

l Tax number

l Your first deposit.

Step 2; Choose what type of TD account you wish to open.

When opening a bank account, it is required that you select from a list of options what type of bank account you would like to be opened for you. You will be provided with these options, a savings account(which most people prefer) or a checking account.

Step 3; Provide your details and fill out your application form by yourself

Filling the application form is quite quick and easy plus you will be requested to provide very personal information which for so many reasons is best to fill out yourself. You can always go to the nearest TD branch if you encounter any complications with the process.


Like most banks, a TD requires that you make an initial deposit to accumulate interest on your account but this service is not free either as you will be charged every month for maintenance and service charges.

How can you avoid such high fees?

If you want to get past paying high fees, you must maintain a minimum of a certain amount daily. Various banks have different minimum amounts. This saves you from having to pay a monthly service charge.

Subscribe to your banks’ email newsletters and set notifications on.

This is important to avoid paying monthly fees or ATM charges as most banks have ATM service charges, setting up an email alert helps you get information regarding your account status, therefore, keeping you on the notice so you do not drop below your daily limit.

What are the types of bank accounts I can open with TD bank?

TD bank requires you to open either a savings account that most people prefer or a checking account or even both. 

 The savings account can be divided into the following sections

* TD beyond savings; To wave a monthly service charge, keep a minimum of $20,000 daily balance in your account. 

*TD growth money market; To wave a monthly service charge on this account, you need to keep a minimum of $2,000 daily balance in your account 

* TD simple savings; To wave a monthly service charge on this account, you need to keep a minimum of a $300 daily balance in your account

 While the checkings account can be divided into : 

*TD simple checking; There is no minimum balance on this type of account and a low $5.99 monthly maintenance fee. *TD essential banking; This account has a very low monthly maintenance fee of $4.95 and does not incur overdrafts fees or services. 

*Student Checking; Students between 17 and 23 years are liable to get more perks if they used TD convenience checking.

*While adults who are 60 or above can earn interest and are charged no monthly maintenance fee provided they maintain a $250 minimum daily balance.


Regardless of some unfavorable reviews like high fees, low rates, poor website performance, etc, TD bank has a reputation of being America`s most reliable bank over the years and has not proven otherwise. In addition to from usual banking services, they provide unique features like;

l Mobile banking

l Online banking and mobile app deposits 

l 24 hours live automated customer service

With these unique features, one can easily apply for a savings or checking bank account from the comfort of one’s home.

Frequently Asked Questions

1. How much is required to open a student`s bank account at TD Bank?

Opening a TD bank account requires a minimum deposit of $0 and a monthly service charge of $5.99. Some amount could be waved from your monthly fees or if you maintain a daily balance of a certain amount, this should be indicated when you open any type of account with TD bank.

2. How can I open a high-interest rate account?

You can earn high interest when you maintain a minimum balance of $5000 on your account

3. Does the bank have good and effective customer service?

 TD bank has one of the most globally reliable customer services, which has become even better because of the introduction of additional features like mobile app banking, online services, and 24 hours automated customer service from the comfort of your homes.