Desjardins Group vs Toronto-Dominion Bank (TD)

Item: Desjardins Group
Rating: 4

A side-by-side comparison of ratings, customer experience, products, fees, and pros & cons to help you choose the right bank.

VS

Desjardins Group

4.0

Open account Read full review

Toronto-Dominion Bank (TD)

4.3

Open account Read full review

Toronto-Dominion Bank (TD) edges ahead on our overall rating (4.3 vs 4.0), but the right pick depends on which products and fees matter most to you.

Overview

Top chequing accounts

Top savings account

Desjardins Group has no savings account listed.

TD Growth™ Savings Account

2.6 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Earn the Boosted Rate on eligible accounts with balances over $5,000

Regular Interest

Up to 1.5%

Monthly Fee

$0

Welcome Bonus Details

Earn a Boosted Savings Rate for eligible accounts with balances over $5,000¹

Highlights

Earn a Boosted savings rate for eligible accounts with balances over $5,000¹
Interest a higher rate of interest the more you save
No monthly account fee
Unlimited transfers to your TD deposit accounts ($5 charge for other transactions)

Top credit card

All products offered

Open Desjardins Group account Open Toronto-Dominion Bank (TD) account

Compare Desjardins with other banks

Compare TD with other banks

Desjardins Group, or Desjardins for short, markets itself as “the largest cooperative financial group in Canada.” The organization offers its members a broad range of financial services including everyday banking, savings, credit cards, mortgages, loans, insurance, and wealth management. Its strongest physical presence is in Quebec and Ontario, where it has 189 caisses and branches as well as 1,260 ATMs.

Providing a full suite of banking products, Desjardins allows members to choose from banking packages ranging from the Basic Plan to the Unlimited Plus Plan. Fee waivers are also available. Desjardins has non-registered savings accounts, credit cards, borrowing products and investment services. Its account fees compare reasonably well with those of the biggest banks in Canada, though its overall fees and savings rates fall short of what customers can find at online banks and fintechs.

Desjardins has several credit cards including those with a cash back option and rewards through its BONUSDOLLARS program. While the rewards platform does not carry the same national recognition as those of the big banks, it still gives members a way to earn rewards across eligible products.

As it provides access to an array of lending options as well as a full-service brokerage and private wealth management, Desjardins delivers more depth than many smaller credit unions or digital banks. Its regional concentration, however, makes it less convenient for Canadians who live outside of these areas. Those within the core markets may find Desjardins to be a strong full-service alternative to the major banks.

Toronto Dominion, known as TD, delivers a strong all-around banking experience through a broad product lineup and extensive branch networks including 1,100 branches throughout the United States. The bank boasts consistency across many categories with few major weaknesses.

Offering a range of banking products, TD has accounts for Canadian newcomers, youth, students, and even international students. It provides banking starting at a cost of $0 for specific groups up to an “All-Inclusive Banking Plan” with premium features and a much higher price tag. Fee waivers are available for those who maintain a certain balance in their account. Long-term savings rates may be less competitive than online banks and fintechs though.

TD has a smaller credit card offering in comparison to some of the other biggest banks in Canada. It does, however, have some strong products, including the TD® Aeroplan® Visa Infinite Card, which FinlyWealth ranks as the best overall Aeroplan credit card.

With a broad lending offering, TD receives recognition for its Canada-US cross-border services as well as various lending products. Its mortgage and lending breadth is amongst the strongest in Canada, though the bank doesn’t always have the lowest rates.

Overall rating

4.0

4.3

Customer experience

3.1

3.2

Best for

Desjardins is best for Canadians who want full-service banking through a cooperative financial institution. It is particularly useful for those in Quebec or Ontario where there is the largest branch and ATM presence.

TD Bank is best for Canadians looking for full-service banking with a vast offering of lending products, premium chequing accounts, branch access and cross-border banking support in the US.

Pros & cons

Pros

Cooperative structure can appeal to those who prefer a member-focused financial institution
Broad lineup of products
Strong reputation as Canada’s largest cooperative financial group
Competitive chequing-account fee waivers compared with many of the Big Six Banks
Strong branch and ATM presence in Quebec with additional access in Ontario
Supports both a full-service brokerage and an online brokerage
BONUSDOLLARS program provides eligible credit cardholders a way to earn and redeem rewards

Cons

Branch and ATM network is highly concentrated in Quebec and Ontario
Savings rates may be below those of online banks and fintechs
Rewards ecosystem is less comprehensive than those from the larger banks
Premium account packages have fewer perks than some of the alternative options at the Big Six banks
Not the lowest-cost option for those who want no-fee digital banking

Pros

TD Canada’s mobile app ranks well with consumers
Extensive branch network
Availability of premium banking options and fee-waiver options
Stand-out credit cards despite a limited offering
Promotional pricing periodically available for better rates and rewards
Extensive mortgage and lending offerings with flexible products
Strong retail presence in the United States and cross-border support

Cons

Elevated fees compared to fintechs and digital banks (though competitive amongst the Big Six)
Monthly account fees on most chequing accounts unless minimum balance maintained
Minimum balance waiver set at a higher balance compared to the other major banks
Savings accounts have a lower interest rate, even amongst the Big Six

Desjardins Unlimited Plan

3.7 Our rating

OPEN ACCOUNT

on Desjardins' website

Welcome Bonus

N/A

Monthly Fee

$15.95 (waivable)

Account Type

Chequing • Personal

Highlights

Monthly fee of $15.95 (waived with a $4,000 minimum balance)
No ATM fees with the AccuLink® network
Eligible for member dividends³
Unlimited transactions through AccèsD, an ATM² or teller
$1.50 cost for Interac^® e-Transfers

Account Fees

Monthly Fee

$15.95

eStatement

Included

Desjardins Unlimited Plus Plan

3.6 Our rating

OPEN ACCOUNT

on Desjardins' website

Welcome Bonus

N/A

Monthly Fee

$23.95 (waivable)

Account Type

Chequing • Personal

Highlights

Monthly fee of $23.95 (waived with a $5,000 minimum balance)
No cost for ATM transactions in the AccuLink® network
Member dividend³ eligibility
No limit on transactions through AccèsD, ATM², cheque, or teller
No charge for Interac^® e-Transfers

Account Fees

Monthly Fee

$23.95

eStatement

Included

TD Student Chequing Account

4.8 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Receive value of up to $560 with a Student Banking Package

Regular Interest

Up to 0.01%

Monthly Fee

$0

Account Type

Chequing • Student

Welcome Bonus Details

Get as much as $560 in value with a Student Banking Package:

Cash offering of $125 when you open a new Student Chequing Account and complete two of the following by August 31, 2026:

Arrange a recurring direct deposit and receive payment from either your employer or the Government

Initiate or receive an e-Transfer for $30 or more

Use your Visa Debit to make an online purchase

Establish Pre-Authorized Transfer Service or Simply Save Service on your TD Savings Account

Cash Back Dollars of up to $100 if you open an eligible TD Cash Back Visa before June 29, 2026
Get up $250 in value when you open your first TD Direct Investing Account
Savings of $60 with no monthly fees annually on TD Monthly Plan Overdraft Protection services on a new Student Chequing Account
$25 gift card for Uber when you (a) establish a TD Student Chequing Account and meet eligibility criteria before August 31, 2026 (b) open a qualifying credit card before June 29, 2026. You must also keep the Student Chequing Account and your credit card active for five months after the account opening.

Offer expires June 29, 2026

Highlights

Made for students and youth under the age of 23
No monthly fee on the account or overdraft protection
Free Interac e-Transfers
Minimum balance not required
Interest earned on all balances
Receive 0.5 bonus stars for every dollar of spending at participating Starbucks⁶

Account Fees

Monthly Fee

$0

eStatement

Included

Transactions

e-Transfer Fee

$0

ATM Fees

Own Network

$0

Canadian ATMs

$2

USA

$3

International

$5

TD Unlimited Chequing Account

3.9 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Receive up to $750 in value on new accounts(§)

Regular Interest

Up to 0%

Monthly Fee

$17.95 (waived with $4,000 balance)

Account Type

Chequing • Personal

Welcome Bonus Details

Earn up to $750 in value for new TD Unlimited Chequing Accounts.

Interest rates

All balances 0%

Highlights

No limit on transactions
Full fee rebate if you meet the minimum balance requirement of $4,000^{1, 2}
Free Interac e-Transfers³
No charge from TD for ATM transactions within Canada⁵
Paper statement $2.00 monthly
Account holders get a first year fee rebate on eligible TD credit cards⁴

Account Fees

Monthly Fee

$17.95

Fee Waiver: Full fee rebate if you meet the minimum balance requirement

$4,000 min. balance

eStatement

Included

Transactions

e-Transfer Fee

$0

ATM Fees

Own Network

$0

Canadian ATMs

$0

USA

$3

International

$5

Desjardins Flexi Visa

4.0

Finly Rating

APPLY NOW

on Desjardins' website

Welcome Bonus

N/A

Rewards Rate

No Rewards

Annual Fee

$0

Interest Rates

10.9% - 19.9 / 12.9%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Get your free credit score

Our Rating

4/5

If you plan to carry a balance on your credit card, this is one of the best no-fee, low-interest-rate credit cards in Canada. However, outside of this specific use case, the card doesn't offer many additional benefits.

Pros & Cons

Pros

No annual fee
Low interest rates
Comprehensive insurance

Cons

No rewards
No benefits
Short travel coverage

Card Details

Rewards

No rewards earned on this card

Insurance

Coverage

Travel Medical Insurance (64 & under)
$5M/insured up to 3 days, under 75 years old
Trip Cancellation
$500 per person for trips up to 3 days
Trip Interruption
$1,000 per person for trips up to 3 days
Baggage Delay
$500 per person after 6 hours delay for trips up to 3 days
Lost or Stolen Baggage
$500 per person for trips up to 3 days
Common Carrier Travel Accident Insurance
$10,000 per person for trips up to 3 days
Mobile Device Insurance
$1,000
Purchase Protection
90 days
Extended Warranty
Doubled up to 1 year

Eligibility

Credit Score
Good
Annual Income
N/A

TD First Class Travel® Visa Infinite* Card

4.7

Finly Rating

APPLY NOW

on TD's website

Exclusive · From FinlyWealth$50$140 rebate

Limited offer · ends

Welcome Bonus

Earn up to $1,300 in value†, including up to 146,000 TD Rewards Points† and receive an Annual Fee rebate for the first year†.

Rewards Rate

2x - 8x

Points

Annual Fee

$139 $0

Interest Rates

21.99% / 22.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Get your free credit score

Our Rating

4.7/5

The TD First Class Travel Visa Infinite Card is an excellent option for frequent travelers who book through Expedia For TD and want to maximize rewards on travel purchases. The high welcome bonus and extensive insurance coverage make this card stand out. However, the high income requirements and limited value of TD points may not make it the best fit for everyone.

Pros & Cons

Pros

High rewards
First-year fee rebate
Extensive insurance
Annual travel credit

Cons

High income requirements
Low point value
Potentially week booking portal

Card Details

Rewards

Earn 8 TD Rewards Points^†for every $1 you spend when you book travel through Expedia^®For TD^†
Earn 6 TD Rewards Points^† for every $1 you spend on Groceries, Dining, and Public Transit^†
Earn 4 TD Rewards Points^† for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media^†
Earn 2 TD Rewards Points For every $1 you spend on other Purchases made using your Card^† plus earn an annual Birthday Bonus^† of up to 10,000 TD Rewards Points
Earn more at Starbucks: Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.

Insurance

Coverage

Travel Medical Insurance (64 & under)^†
21 days
Travel Medical Insurance (65 to 75)^†
4 days
Trip Cancellation^†
$1,500
Trip Interruption^†
$5,000
Flight Delay^†
$500
Baggage Delay^†
$1,000
Lost or Stolen Baggage^†
$1,000
Common Carrier Travel Accident Insurance^†
$500,000
Car Rental Damage & Theft^†
yes
Hotel Burglary Insurance^†
$2,500
Purchase Protection^†
90 days
Extended Warranty^†
Up to 1 year
Mobile Device Insurance^†
$1,000

Benefits

Details

Visa Infinite Exclusive Benefits^†
Concierge Services^†
Golf Benefit^†
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
Extra points^†
Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.
Annual Birthday Bonus^†
Earn a Birthday Bonus of up to 10,000 TD Rewards Points
Car Rental Discount^†
10% off base rate of Avis Rent A Car and Budget Rent A Car
Travel Credit^†
Get an annual TD Travel Credit of $100 when you book at Expedia For TD
Airport Lounge - Dragon Pass^†
Enjoy your time at the airport with global airport lounge access and 4 complimentary lounge visits with Visa Airport Companion Program

Eligibility

Credit Score
Good
Annual Income
$60,000 personal or $100,000 household

12 products

Chequing

Desjardins Basic Plan

Desjardins Intermediate Plan

Desjardins Unlimited Plan

Desjardins Unlimited Plus Plan

Credit cards

Desjardins Bonus Visa

Desjardins Cash Back Mastercard

Desjardins Cash Back Visa

Desjardins Cash Back World Elite® Mastercard®

Desjardins Flexi Visa

Desjardins Odyssey Gold Visa

Desjardins Odyssey Visa Infinite Privilege

Desjardins Odyssey World Elite Mastercard

17 products

Savings

TD ePremium Savings Account

TD Growth™ Savings Account

TD Every Day Savings Account

Chequing

TD Unlimited Chequing Account

TD Every Day Chequing Account

TD Minimum Chequing Account

TD Student Chequing Account

Credit cards

TD Aeroplan® Visa Infinite* Card

TD Cash Back Visa Infinite* Card

TD Cash Back Visa* Card

TD First Class Travel® Visa Infinite* Card

TD Low Rate Visa* Credit Card

TD Platinum Travel Visa* Card

TD Rewards Visa* Card

TD® Aeroplan® Visa Infinite Privilege* Credit Card

TD® Aeroplan® Visa Platinum* Card

TD® Aeroplan® Visa* Business Card

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Elevated mortgage and loan rates in comparison to digital-first lenders

Every credit card charges a foreign transaction fee

Historically extended branch hours were pared back post-Covid

Premium banking benefits available, though they come at a cost or require high account balances