Table of Contents
Table of Contents
Truist CD Rates
Truist Bank CD Rates: Key Features
Compare CD Account Rates
FAQ
Your Guide to CDs
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- Banking
- Certificate of Deposits (CDs)
Truist Bank offers a simple CD account with several potential interest rate tiers
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Updated June 03, 2024
Fact checked by
Hans Daniel Jasperson
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Fact checked byHans Daniel Jasperson
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Hans Daniel Jasperson has over a decade of experience in public policy research, with an emphasis on workforce development, education, and economic justice. His research has been shared with members of the U.S. Congress, federal agencies, and policymakers in several states.
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Truist CD Rates
Truist may not be a household name yet, but it has a huge presence in the United States. Created in 2019 after SunTrust and merged, Truist Bank is among the 10 largest banks in the country. Truist offers several deposit and savings accounts plus other financial products and services for its banking customers.
A simple certificate of deposit (CD) account is among its offerings. Although Truist may provide different rates to residents of different states, rates for each state and territory were the same as of publication. Here’s what to know about the Truist CD, its terms, features, and more.
Truist Bank CD Overview
| CD Term | APY | Minimum Deposit |
|---|---|---|
| 7 days to 60 months | Not disclosed | $1,000 |
See thebest CD ratestoday before choosing the CD that is best for you.
Truist Bank CD Rates: Key Features
| APY Range | Not disclosed |
|---|---|
| Minimum Balance | $2,500 for terms from 7 to 31 days; $1,000 for terms from 32 days to 60 months |
| Term Range | 7 days to 60 months |
| Early Withdrawal Penalty | Yes, but details not disclosed |
| Grace Period for Penalty-Free Withdrawals | 1 day for terms of 7 to 31 days; 10 days for terms of 32 days to 60 months |
Truist CDs are currently only available in 15 U.S. states and Washington, D.C. These accounts are available to residents of Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North Carolna, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
Compare CD Account Rates
Per the FDIC, the average deposit rate for a traditional savings account is just 0.46%. Deposit rates for CDs are significantly higher, so opening a CD can be a smart move if you’re comfortable with a longer-term investment.
CD rates, terms, minimum balance requirements, and other account features also vary depending on the lender you choose, how much you plan to deposit, and how long you plan to leave your money in the account.
How Do You Get a Truist CD?
If you live in a state where a Truist CD is available, you can visit a local branch to open a new CD account. Unfortunately, you cannot open a Truist CD account online.
Are Truist CDs Worth Investing In?
Depending on your situation, a Truist Bank CD may be worth investing in. But at the time of article publication, Truist’s CD accounts are only available in 15 states and Washington D.C. If Truist’s CD is available in your state, you could benefit from a generous APY and flexible terms. The rates you can get with a Truist CD are significantly higher than the average traditional savings account rates, although they’re not quite the highest; see the best CD rates to learn more.
Are Truist CDs FDIC-Insured?
Yes, Truist Bank CDs are FDIC-insured. FDIC insurance provides banking customers with up to $250,000 worth of coverage per eligible bank and ownership category in case a lending institution has financial difficulties or defaults.
How Do You Get the Best Truist CD Rate?
Truist CD rates may vary by state, but in general, its 7-month CDs offer the highest rates for both small and large balances.
Your Guide to CDs
- What Is a Certificate of Deposit (CD)?
- What Is a Brokered CD?
- What Is a CD Ladder?
- Pros and Cons of CDs
- How to Invest With CDs
- How to Open a CD
- How to Close a CD
- CDs vs. Annuities
- CDs vs. Stocks
- CDs vs. Mutual Funds
- CDs vs. ETFs
- CDs vs. Savings Accounts
- Short-Term vs. Long-Term CDs
- CD Rates News
- Best 1-Year CD Rates
- Best 18-Month CDs
- Best Jumbo CD Rates
- Best 6-Month CD Rates
- Best 3-Month CD Rates
- Best Bank CD Rates
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
Truist. "BB&T and SunTrust Complete Merger of Equals to Become Truist."
Truist. "CD Disclosure Information."
Truist. "Personal Certificates of Deposit (CD) Account Overview."
FDIC. "National Rates and Rate Caps."
Truist. "Truist Certificates of Deposit (CDs)."
Related Terms
What Is a Certificate of Deposit (CD) and What Can It Do for You?
A certificate of deposit (CD) is a type of savings account offered by banks and credit unions that pays a fixed interest rate on money held for an agreed upon period of time.
more
Add-On CDs: Meaning, Pros and Cons, Example
Add-on CDs are specialty CDs that allow you to add more funds to your CD after the initial deposit. Learn whether an add-on or standard CD is a better choice for you.
more
No-Penalty Certificate of Deposit (CD): What It Is, How It Works
A no-penalty certificate of deposit, also known as a liquid CD, allows investors to make early withdrawals without paying a penalty. But it also pays lower interest rates.
more
Fixed-Rate Certificate of Deposit (CD): What It Is, How It Works
A fixed-rate certificate of deposit (CD) is a low-risk investment instrument that has a set interest rate over its entire term.
more
Types of Specialty Certificates of Deposit (CDs) Explained
Specialty CDs offer features such as the ability to add to the principal or avoid early withdrawal fees. Some options offer more flexibility but may have lower rates than standard CDs.
more
Money Markets: What They Are, How They Work, and Who Uses Them
The money market refers to trading in very short-term debt investments. These investments are characterized by a high degree of safety and relatively low rates of return.
more
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