Truist offers certificates of deposit (CDs) between seven days and five years, meaning you’ll need to look elsewhere for longer-term options. More frustratingly, though, Truist doesn’t publish their CD rates online, which means you’ll have to go into a branch to open an account.
Annual percentage yields (APYs) and account details are accurate as of August 24th, 2023.
Overview of Truist CDs
You must visit a branch to open one of these accounts.
Most banks charge a penalty if you break the CD before maturity, but all do. Some banks offer no-penalty CDs.
How Truist CD rates compare
You’ll need to visit a Truist bank branch to see if its CDs rank among the best available.
Use our CD calculator to figure out how much interest you’ll earn on your particular balance.
Alternatives to CDs from Truist Bank
Aside from CDs, Truist’s offerings include savings and money market accounts.
The Truist One Money Market Account has a $50 minimum opening deposit, but you can have the $12 monthly fee waived if you maintain a minimum daily balance of $1,000. This account pays 0.01% APY.
The Truist One Savings also has a minimum deposit of $50 and earns 0.01% APY. You can have the $5 monthly fee waived with a minimum daily balance of $300. You can also have the fee waived if you have an automatic recurring deposit of $25 or more per month into the account or if you have a checking account with Truist Bank. They will also waive the fee if you are under 18.
Truist Bank review
Charlotte, North Carolina-based Truist arose in 2019 with the merger of two banks: BB&T and SunTrust.
With nearly $547 billion in assets, Truist ranks as the seventh largest bank in the U.S. It operates a little more than 2,000 branches and provides access to more than 3,000 ATMs.
Unfortunately, size doesn’t necessarily translate to satisfaction. Overall, customers turn their thumbs-down on Truist.
In all of the regions where it operates, Truist scored the lowest or among the lowest scores in the J.D. Power 2023 U.S. Retail Banking Satisfaction Study. For instance, Truist received the lowest score (607 out of 1,000) in J.D. Power’s survey of banking customers in the Southeast region (Georgia, North Carolina and South Carolina).
Furthermore, Truist ranked last in the J.D. Power 2022 U.S. National Banking Satisfaction Study, which examined nine major U.S. banks. Truist’s score was 605 out of 1,000.
On the positive side, Truist earns kudos from USA TODAY Blueprint as the best HELOC lender for quick closings, and its LightStream platform gets some love from USA TODAY Blueprint as the best personal loan provider for fast funding.
Frequently asked questions (FAQs)
To find out rates for CDs, you must call Truist or visit one of its banks. If longer CDs have higher interest rates you can consider creating a CD ladder to take advantage of the higher rates without having to lock in your whole balance.
Truist operates branches in 17 states, plus the District of Columbia.
Truist does offer online banking. However, you can’t open a CD online.
