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Truist Bank offers a simple CD account with several potential interest rate tiers
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Fact checked by Hans Daniel Jasperson
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.
Important
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 | 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 |
Important
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
Read the original article on Investopedia.