TD Canada Trust Lowers Prime Rate to 6.70%

Toronto, July 24, 2024 – TD Canada Trust has made a notable change to its lending rates. Starting July 25, 2024, the bank is reducing its TD Prime Rate by 25 basis points, bringing it down to 6.70%. This decision comes as part of their strategy to adapt to current economic conditions.

TD Canada Trust, which is a part of the larger TD Bank Group, serves millions of customers across different sectors. With this rate drop, it aims to benefit those who rely on its loans and credit services. The bank is well-known for being one of the largest in North America.

The Toronto-Dominion Bank, which oversees TD Canada Trust, operates across several segments, including Personal and Commercial Banking, Wealth Management, and Wholesale Banking. It continues to rank high among the world’s leading financial institutions, boasting substantial assets and a vast number of active online customers.

As consumers and businesses navigate through various financial decisions, the updated prime rate could influence borrowing costs for a host of loans like personal loans, mortgages, and credit lines. This move reflects TD’s efforts to remain competitive and responsive to market dynamics.