Truist CD Rates: June 2024

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Truist CD Rates: June 2024

Truist Bank offers a simple CD account with several potential interest rate tiers

By
Jessica Ullrich
Jessica Ullrich
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Jessica is an Associate Finance Editor on the Performance Marketing team at Investopedia and The Balance. She's been editing financial and business content for over a decade.
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Updated June 03, 2024
Fact checked by
Hans Daniel Jasperson
Hans Daniel Jasperson
Fact checked by Hans Daniel Jasperson
Full Bio
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 BB&T 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 the best CD rates today 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

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 our editorial policy.

  1. Truist. "BB&T and SunTrust Complete Merger of Equals to Become Truist." 

  2. Truist. "CD Disclosure Information." 

  3. Truist. "Personal Certificates of Deposit (CD) Account Overview." 

  4. FDIC. "National Rates and Rate Caps." 

  5. Truist. "Truist Certificates of Deposit (CDs)."