Truist Bank certificate of deposit review

Would you like to read a comprehensive review of the Truist Bank certificate of deposit? Responsible Economy has conducted a thorough analysis of all its features, including the interest rate, terms, fees, and everything you need to know. You will also find a comparison of the best certificates of deposit in the United States for 2023, as well as an explanatory video. Welcome!

Explicative video

We have created a video that provides a concise overview of the key features of the Truist Bank certificate of deposit. If you find our content valuable, we encourage you to subscribe to our channel to show your support and receive daily videos.

Features

In this section, we will provide a comprehensive breakdown of each characteristic:

Interest rate

The interest rate offered by Truist Bank’s certificate of deposit varies depending on the chosen term. Here is a table showcasing the different terms and corresponding interest rates:

Terms	Yields
7 months	4.25% APY
12 months	3.50% APY

Truist Bank’s Certificate of Deposit interest rates may not be as competitive compared to other banks offering higher rates, some up to 5.25% APY. With interest rates in the United States currently being high, it presents a favorable opportunity to explore other options that offer more attractive returns on your investment.

Fees

It’s important to consider the presence of annual or monthly maintenance fees when evaluating certificate of deposit options. In the case of Truist Bank’s CD, it is advantageous as it does not impose any maintenance fees, making it a cost-effective choice. Additionally, the CD is free to open, further enhancing its appeal to potential investors.

Minimum deposit

To open the Truist Bank certificate of deposit, a minimum deposit of $1000 is required. This minimum deposit amount serves as a threshold for opening the CD and starting your investment journey with Truist Bank.

Best certificate of deposit in 2023

Here is a ranking of the best certificates of deposit available for opening in the United States in 2023:

Certificates of deposit calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

Truist Bank certificate of deposit calculator

Calculate

Pros and cons

After reviewing all the features of the Truist Bank certificate of deposit and comparing it with the best CDs available in the United States, we have created a table outlining the advantages and disadvantages:

Pros	Cons
No fees	There are CDs with higher interest rates
	Minimum deposit $1000

Requirements

To open a Truist Bank certificate of deposit, you need to meet the following requirements:

• Reside in the United States.
• Be at least 18 years old.
• Have a valid Social Security number.
• Possess an American bank account number.

Frequent questions

Here are some commonly asked questions about the Truist Bank certificate of deposit:

More information about Truist Bank

Here is a table with information of interest about Truist Bank:

Information	Description
Website	https://www.truist.com/
Twitter	https://twitter.com/TruistNews
Facebook	https://www.facebook.com/truist
YouTube	https://www.youtube.com/channel/UC10Dmvy2Ih93O8hCg_UYN6w

Related content

Finally, we show you related content about certificates of deposit:

Updated the day 1 September, 2023 by Alfredo Barandiarán