Certificates of Deposit (CDs) Add guarantee – and gusto – to your savings goals. With locked-in rates, a CD from Parkway Bank helps you to know exactly what you're saving and when. Rates that are higher than regular savings, that even increase as you select longer terms, don't exactly hurt either. TCF Bank 1 Year CD Rates. Type Fixed: Rate 0.10%: Currency: USD: The rate of 0.10% is 1.1% lower than the average 1.2%. Also it is 2.5% lower than the highest rate 2.60 Updated Aug, 2019 on TCF Bank's secure website. The rate of 0.10% is 1.1% lower than the average 1.2%. Also it is 2.5% lower than the highest rate 2.60 Updated Aug, 2019.
- Variety of term lengths and investment options
- Low minimum deposit requirement
- Less than competitive rates
- Branch locations restricted to three states
- Midwestern bankers who already have an account with TCF Bank
TCF Bank, which has its headquarters in Midland, Michigan and the overwhelming majority of its locations in the same state, offers several different types of certificates of deposit (CDs) with varying term lengths. With over 200 branch locations, the bank is a large presence in the state of Michigan.
Opening a CD account requires you to visit a TCF branch, and locations are limited to three states in the central Midwest. TCF has two locations in Northern Indiana, 28 locations in Ohio and 233 locations in Michigan. Like many brick-and-mortar banks, the rates offered are significantly lower than the best CD rates you'll find with online banks, although the four-year and five-year offerings are both over 1%. Golden pokies no deposit bonus codes 2020.
Standard CD
These are the standard offerings from TCF, meaning that there are no special features or anything to differentiate from a typical CD.
| Term Length | Minimum Deposit | APY | |
| 15 Month | $100 | 0.15% | Compare CD Rates |
| 18 Month | $100 | 0.15% | Compare CD Rates |
| 24 Month | $100 | 0.15% | Compare CD Rates |
| 30 Month | $100 | 0.20% | Compare CD Rates |
'Add-On' CD
The 'Add-On' CD, available only in a 12-month term length, allows you to add to your initial investment at any time during the term. All you have to do is make sure you're adding at least $100 each time, and you continue to contribute throughout the 12 months.
| Term Length | Minimum Deposit | APY | |
| 12 Month | $100 | 0.10% | Compare CD Rates |
'Raise Your Rate' CD
With the 'Raise Your Rate' CD, you have the ability to increase the interest rate of your CD one time during the course of its term. This comes with conditions, however. You can only increase the rate if the rates on new CDs have increased since you purchased yours. Also, you will only be able to raise your rate a maximum of 1%, even if rates on new CDs have increased beyond that maximum.
With these conditions in mind, you shouldn't purchase the 'Raise Your Rate' CD solely for the possibility of a rate increase, as it's just as possible that an increase never comes.
| Term Length | Minimum Deposit | APY | |
| 36 Month | $100 | 0.30% | Compare CD Rates |
| 48 Month | $100 | 0.30% | Compare CD Rates |
| 60 Month | $100 | 0.30% | Compare CD Rates |
12-Month Add-On CD Interest Rate Comparison
Compare TCF Bank to Other Competitive Offers
Overview of TCF Bank CDs
With eight different term lengths and three categories available, TCF Bank offers many different options when it comes to CDs. Furthermore, $100 is a comparatively low minimum deposit requirement, making these accounts more available to potential bankers who may not be looking to invest thousands.
If you need your money back before your CD's maturity date, you'll have to cough up an early withdrawal penalty. The exact penalty will depend on the term length of your CD. If your term is 12 months or shorter, you'll pay a penalty of three months' interest. So, if you open a $500 CD with a 12-month term and you withdraw early, you would pay a penalty of $2.
If you're withdrawing from a CD between 13 and 35 months, the penalty rises to six months' interest, and if your term is longer than 36 months, the penalty is a year of interest. For example, if you invested $1,000 in a 24-month CD and withdrew early, you would pay a penalty of $2.51.
Unless you're withdrawing a hefty sum of money from a long-term CD, the early withdrawal penalties will probably be manageable enough. Nevertheless, it's typically unwise to invest money in a CD unless you're confident that you won't need the money until your maturity date.
How Much You Earn With TCF Bank Certificate of Deposits Over Time
Interest for all CD accounts at TCF Bank compound monthly, which is less frequently than many high-rate CDs that compound daily. This can make a big impact if you invest a large sum of money for several years. For smaller deposits and shorter terms, though, the difference can be as little as a dollar or even less.
Note that the calculations below are based on the assumption that you don't withdraw any interest during the term and that you never exercise the option to raise your rate during the 60-month term.
| Initial Deposit | 12 Month 'Add-On' CD | 24 Month CD | 60 Month CD |
| $1,000 | $1,004.01 | $1,010.05 | $1,025.31 |
| $2,500 | $2,510.02 | $2,525.12 | $2,563.27 |
| $5,000 | $5,020.04 | $5,050.24 | $5,126.55 |
| $10,000 | $10,040.07 | $10,100.48 | $10,253.10 |
How TCF Bank CD Rates Compare to Other Banks'
TCF Bank CD Rates are in a sort of middle ground. They outshine the rates of large, national banks like Chase or Wells Fargo, but they aren't as competitive as exclusively online banks like Ally or Marcus by Goldman Sachs.
The $100 minimum deposit requirement makes TCF Banks CDs more accessible than a lot of brick-and-mortar banks that have minimums of $500 or even $1,000. That advantage also applies to Marcus by Goldman Sachs, which has a minimum of $500, but it isn't as strong against Ally, which has no minimum requirement.
Note that the rates below assume a deposit of $1,000.
| Term Length | TCF Bank | Ally Bank | Chase |
| 12 Month | 0.10% | 1.50% | 0.02% |
| 36 Month | 0.30% | 1.55% | 0.10% |
| 60 Month | 0.30% | 1.60% | 0.10% |
Should You Get a TCF Bank CD Account?
If you already have a checking or savings account with TCF Bank and you are interested in doing all of your banking in one place, then a TCF Bank CD might be an option you would want to consider, especially if you're looking for a longer-term CD. If, however, you don't have an existing TCF account and you're comfortable doing some of your banking online, you can find much more competitive rates elsewhere.
- Wide range of term options
- Low interest rates
- Current TCF Bank customers who don't want to open accounts at other banks
TCF Bank serves seven states and offers a wide range of certificate of deposit (CD) term options. With terms ranging from three months to 10 years, it's sure to appeal to both short- and long-term savers. The minimum deposit of $500 is also lower than many large banks. However, interest rates from TCF Bank do not always compare favorably to some of the best CD rates. You can get a higher rate with a promotional CD, but promotional CDs have their own requirements that may make them too expensive for some people.
Whether or not you open an account with TCF Bank will depend on your individual goals and financial situation. Below we go over everything you need to consider before opening an account.
| CD Length | Minimum Deposit | APY: Standard | APY: Relationship Rate | |
| 3-11 Month | $500 | 0.05% | 0.05% | Compare CDs |
| 12-13 Month | $500 | 0.10% | 0.10% | Compare CDs |
| 14-29 Month | $500 | 0.15% | 0.15% | Compare CDs |
| 30-35 Month | $500 | 0.20% | 0.20% | Compare CDs |
| 36-47 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 48-59 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 60-120 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 6 Month Promotional CD | $500 | 1.10% | 1.10% | Compare CDs |
Tcf Bank Cd Rates Chicago
15-Month CD Interest Rate Comparison
Overview of TCF Bank CDs
TCF Bank has about 320 branch locations spread across Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin. In order to open a CD, you will need to visit a local branch.
The CDs from TCF Bank all require a $500 minimum deposit. Terms range in length from three months to 10 years. Interest rates may also be higher for customers who qualify for the relationship rate. The only requirement for getting the relationship rate is to have a checking account with TCF Bank. All CD terms and rates also qualify for use in an individual retirement account (IRA).
Interest compounds daily and when it credits to your account will depend on the length of your CD term. Terms of less than 12 months will only get interest credited at maturity. Interest will credit quarterly to accounts with terms of 12 months or more. The default option is for interest to credit to your account, but you can elect to have your interest go into a TCF Bank savings or checking account. If you choose to move your credit to another account, you have the option to receive interest payments quarterly or monthly.
You may also have the option to receive your interest payments as physical checks. If your account balance is at least $5,000 you qualify for quarterly interest checks. You can receive monthly interest checks if your account balance is at least $10,000.
Even though you can transfer interest payments out of your account, you cannot remove any of the principal before the end of your term. Any principal you withdraw is subject to an early withdrawal penalty. The penalty is generally 1% of the amount withdrawn for each year of the CD's term that remains at the time of withdrawal. You won't pay more than 3% and the penalty will never be less than $25 or seven days' interest.
To withdraw funds without paying a penalty, you will need to wait until your CD reaches maturity. At that point you will receive a seven-day grace period. You can make any changes, withdrawals or additions to your account within that time. Your CD will automatically renew at the end of the grace period as long as you have at least $500 left in your account. The new CD will have the same length as the original with the current available interest rate.
In addition to its standard CDs, TCF Bank may also offer promotional or featured CDs. Promotional and featured CDs offer higher rates than a standard CD of the same term length. The minimum deposits are still $500. Interest rates are the same for all customers. There is no relationship rate. The big caveat with promotional CDs is that they require new money. This is money you do not already have on deposit with TCF Bank.
How Much You Earn With TCF Bank CDs Over Time
How TCF Bank CD Rates Compare to Other Banks'
TCF Bank CD Rates are in a sort of middle ground. They outshine the rates of large, national banks like Chase or Wells Fargo, but they aren't as competitive as exclusively online banks like Ally or Marcus by Goldman Sachs.
The $100 minimum deposit requirement makes TCF Banks CDs more accessible than a lot of brick-and-mortar banks that have minimums of $500 or even $1,000. That advantage also applies to Marcus by Goldman Sachs, which has a minimum of $500, but it isn't as strong against Ally, which has no minimum requirement.
Note that the rates below assume a deposit of $1,000.
| Term Length | TCF Bank | Ally Bank | Chase |
| 12 Month | 0.10% | 1.50% | 0.02% |
| 36 Month | 0.30% | 1.55% | 0.10% |
| 60 Month | 0.30% | 1.60% | 0.10% |
Should You Get a TCF Bank CD Account?
If you already have a checking or savings account with TCF Bank and you are interested in doing all of your banking in one place, then a TCF Bank CD might be an option you would want to consider, especially if you're looking for a longer-term CD. If, however, you don't have an existing TCF account and you're comfortable doing some of your banking online, you can find much more competitive rates elsewhere.
- Wide range of term options
- Low interest rates
- Current TCF Bank customers who don't want to open accounts at other banks
TCF Bank serves seven states and offers a wide range of certificate of deposit (CD) term options. With terms ranging from three months to 10 years, it's sure to appeal to both short- and long-term savers. The minimum deposit of $500 is also lower than many large banks. However, interest rates from TCF Bank do not always compare favorably to some of the best CD rates. You can get a higher rate with a promotional CD, but promotional CDs have their own requirements that may make them too expensive for some people.
Whether or not you open an account with TCF Bank will depend on your individual goals and financial situation. Below we go over everything you need to consider before opening an account.
| CD Length | Minimum Deposit | APY: Standard | APY: Relationship Rate | |
| 3-11 Month | $500 | 0.05% | 0.05% | Compare CDs |
| 12-13 Month | $500 | 0.10% | 0.10% | Compare CDs |
| 14-29 Month | $500 | 0.15% | 0.15% | Compare CDs |
| 30-35 Month | $500 | 0.20% | 0.20% | Compare CDs |
| 36-47 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 48-59 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 60-120 Month | $500 | 0.30% | 0.30% | Compare CDs |
| 6 Month Promotional CD | $500 | 1.10% | 1.10% | Compare CDs |
Tcf Bank Cd Rates Chicago
15-Month CD Interest Rate Comparison
Overview of TCF Bank CDs
TCF Bank has about 320 branch locations spread across Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin. In order to open a CD, you will need to visit a local branch.
The CDs from TCF Bank all require a $500 minimum deposit. Terms range in length from three months to 10 years. Interest rates may also be higher for customers who qualify for the relationship rate. The only requirement for getting the relationship rate is to have a checking account with TCF Bank. All CD terms and rates also qualify for use in an individual retirement account (IRA).
Interest compounds daily and when it credits to your account will depend on the length of your CD term. Terms of less than 12 months will only get interest credited at maturity. Interest will credit quarterly to accounts with terms of 12 months or more. The default option is for interest to credit to your account, but you can elect to have your interest go into a TCF Bank savings or checking account. If you choose to move your credit to another account, you have the option to receive interest payments quarterly or monthly.
You may also have the option to receive your interest payments as physical checks. If your account balance is at least $5,000 you qualify for quarterly interest checks. You can receive monthly interest checks if your account balance is at least $10,000.
Even though you can transfer interest payments out of your account, you cannot remove any of the principal before the end of your term. Any principal you withdraw is subject to an early withdrawal penalty. The penalty is generally 1% of the amount withdrawn for each year of the CD's term that remains at the time of withdrawal. You won't pay more than 3% and the penalty will never be less than $25 or seven days' interest.
To withdraw funds without paying a penalty, you will need to wait until your CD reaches maturity. At that point you will receive a seven-day grace period. You can make any changes, withdrawals or additions to your account within that time. Your CD will automatically renew at the end of the grace period as long as you have at least $500 left in your account. The new CD will have the same length as the original with the current available interest rate.
In addition to its standard CDs, TCF Bank may also offer promotional or featured CDs. Promotional and featured CDs offer higher rates than a standard CD of the same term length. The minimum deposits are still $500. Interest rates are the same for all customers. There is no relationship rate. The big caveat with promotional CDs is that they require new money. This is money you do not already have on deposit with TCF Bank.
How Much You Earn With TCF Bank CDs Over Time
The interest rates from TCF Bank are not very high, and you won't earn much in interest payments. The best way to make sure you earn decent interest is to choose long-term CDs and to deposit as much as you can afford. The relationship rate and promotional CDs will also get you better rates.
To illustrate how low the interest rates are, consider that if you only deposit the account minimum ($500) to a six-month CD, you will earn about 25 cents at the end of your term.
The table below shows what your approximate total balance will be based on different initial deposits and term lengths. This table uses the relationship rates listed above.
| Initial Deposit | 18-Month CD | 36-Month CD | 60-Month CD |
| $500 | $501 | $505 | $510 |
| $1,000 | $1,001 | $1,009 | $1,020 |
| $2,500 | $2,503 | $2,523 | $2,551 |
| $5,000 | $5,005 | $5,045 | $5,101 |
| $10,000 | $10,010 | $10,090 | $10,202 |
How TCF Bank CD Rates Compare to Other Banks'
Because TCF Bank has low interest rates, you should definitely compare CD rates from other banks before opening an account. Depending on what your savings goals are, certain banks may offer more appealing rates.
For example, customers with short-term goals will like the rates from Ally Bank. Ally's interest rates for terms of one year and less are among the highest on the market. Ally is an entirely online bank, so you won't be able to visit a branch in person. But the tradeoff is higher rates. There is also no minimum deposit on Ally CDs.
Tcf Bank Ira Cd Rates
If you prefer a bank with physical branches, consider Capital One. Capital One requires no minimum deposit and has competitive interest rates.
If you are primarily interested in TCF Bank's long-term options, you may be interested in brokered CDs. For example, CDs from Edward Jones offer some of the highest rates and have terms of up to 10 years long. The minimum deposit is $1,000 but the higher price tag could be well worth it if you're looking for the highest rates.
| CD Account | TCF Bank | Ally Bank | Capital One |
| 1 Year | 0.10% | 1.50% | 1.50% |
| 3 Year | 0.30% | 1.55% | 1.40% |
| 5 Year | 0.30% | 1.60% | 1.40% |
Compare TCF Bank to Other Competitive Offers
Should You Get a TCF Bank CD Account?
You should consider a CD with TCF Bank if you already have a relationship with the bank and you don't want to open an account at any new institution. Otherwise, you should consider other banks. Merlin slot. There are better interest rates available whether you are looking for short- or long-term options.
