I opened a 30 day TD earlier for my EF. While waiting for it to be processed, I realized if the effort was worth it for the 100 peso additional interest compared to just leaving it in my savings account.

So out of curiosity, why do TDs still exist? Are they meant for those who have really big amounts of savings (read millions)?

At the very least, does it have an impact on my credit score, if any (versus just keeping the money in a savings account)? Or do I just get brownie points/goodwill with my bank for doing so? I mean, for the bank personal to put effort in opening this TD and waiving the inter regional withdrawal charge for me, maybe she gets rewarded for that as well (commissions, metrics)?