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Truist Bank CD rates

Updated July 9, 2024
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In 2019, BB&T and SunTrust banks merged to form a new institution that became Truist Bank. Since then, services from the two former banks have moved over to Truist. Customers of both former banks have seen changes in what kinds of accounts are available to them and what features the accounts have.

Truist locations are in 17 states in the East and South and the District of Columbia.

Truist CD Rates

Truist offers various CDs, ranging from seven days to 60 months. However, you must visit a branch to view all of the bank’s terms and yield options, and you must visit a branch to open a CD.

CDs with seven- to 31-day terms require a minimum opening deposit of $2,500. CDs with 32-day to 60-month terms require a $1,000 minimum opening deposit.

At the end of the term, the CD can either be redeemed or renewed. An early withdrawal penalty applies to funds withdrawn before the end of the term, which may include a portion of the principal.

Here’s a closer look at Truist’s special CD rates.

Account name Term APY Minimum deposit
CD  5 months 4.50% $1,000
CD 12 months 4.00% $1,000

Note: Annual percentage yields (APYs) shown are as of July 9, and may vary by region for some products.

How Truist compares to top-yielding banks

Like many of its competitors, Truist offers online banking, including a mobile banking app that makes it easy to open and check up on accounts at your convenience.

Most of Truist’s deposit accounts offer paltry yields, but its seven-month and one-year CDs are offering competitive APYs at the moment. Though the $1,000 deposit is also reasonably priced, you may be able to find CDs at slightly higher rates for a smaller deposit at some online banks.

Some competitors, including Marcus by Goldman Sachs, offer a greater variety of CD types, including no-penalty and bump-up CD options.

Marcos Cabello Arrow Right Writer, Banking/Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.