Truist CD rates June 2024
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BLUEPRINT
Updated 10:55 a.m. UTC June 6, 2024
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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 all of its CD rates online and you’ll have to go into a branch to open an account.
Annual percentage yields (APYs) and account details are accurate as of June 6, 2024.
Overview of Truist CDs
While Truist offers many CD lengths, it only reveals the yields for two terms online: 4.50% on a seven-month CD and 4.00% on a 12-month CD; both of which are competitive. For other CD rates and to open one of these accounts, however, you must visit a branch.
| OVERVIEW | |
|---|---|
Minimum deposit
| $2,500 for terms of seven days to 31 days and $1,000 for terms of 32 days to 60 months
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Term lengths
| Seven days to five years
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Compounding schedule
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APYs (annual percentage yields)
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Interest categories (based on account balance)
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Early withdrawal penalty
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Grace period for penalty-free withdrawal after maturity
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Most banks charge a penalty if you break the CD before maturity; however, some 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. See below rates for the Chase relationship certificates of deposit, American Express® certificates of deposit and Huntington Promotional Fixed Rate certificates of deposit.
| TERM | TRUIST CD RATES | CHASE BANK CD RATES | AMERICAN EXPRESS CD RATES | HUNTINGTON BANK FIXED RATE CD RATES |
|---|---|---|---|---|
6 months
| 4.50% (7 months)
| 3.00% APY
| N/A
| 5.13% APY* |
12 months
| 4.00%
| 2.00% APY
| 4.35% APY
| 4.86% APY* |
24 months
| Not stated
| 2.50% APY
| 4.00% APY
| N/A
|
*Promotional Rates.
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 maintenance fee (waived by maintaining a minimum daily ledger balance of $1,000 or more). This account pays 4.25% APY for eligible new account holders, otherwise a standard 0.01% APY applies.
The Truist One Savings also has a minimum deposit of $50 and earns 0.01% APY. You can have the $5 which can be waived by maintaining a minimum daily balance of $300, scheduling a recurring preauthorized internal transfer of $25 or more per statement cycle into the account, being under the age of 18 or by having a related Truist checking product 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 around $555 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 what most of its CD rates are, you must call Truist or visit one of its branches. If several CD rates are enticing, consider creating a CD ladder to take advantage of the best rates without having to lock in your whole balance for one term.
Truist operates branches in 17 states plus the District of Columbia.
Truist does offer online banking. However, you can’t open a CD online.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
