Truist CD Rates

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

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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.

The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Truist Bank CD Overview

CD Term   Tier  APY  Minimum Deposit
9 months $0–$9,999 4.25% $1,000
9 months  $10,000–$49,999  4.25%  $1,000 
9 months  $50,000–$99,999  4.25%  $1,000 
9 months  $100,000–$99,999,999  4.25%  $1,000 
12 months  $0–$9,999  4.00% $1,000 
12 months  $10,000–$49,999  4.00%  $1,000 
12 months  $50,000–$99,999  4.00%  $1,000 
12 months  $100,000–$99,999,999  4.00%  $1,000 

Truist Bank CD Rates: Key Features

APY Range  4.00%–4.25%
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 Savings Account Rates

Per the FDIC, the average deposit rate for a traditional savings account is just 0.37%. 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 9-month CDs offer the highest rates for both small and large balances. 

Article Sources
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  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)."