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.

YouTube video
Truist Bank certificate of deposit

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:

TermsYields
7 months4.25% APY
12 months3.50% APY
Terms and yields
Truist Bank CD rates

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:

Logo capital One CDs
  • 5.25% APY
  • Minimum deposit: $0
  • Term: 18 months
  • Member FDIC
Marcus by Goldman Sachs
  • 5.10% APY
  • Minimum deposit: $500
  • Term: 12 months
  • Member FDIC
CIT Bank Logo
  • 5.00% APY
  • Minimum deposit: $1,000
  • Term: 6 months
  • Member FDIC
synchrony-bank-logo
  • 5.40% APY
  • Minimum deposit: $0
  • Term: 16 months
  • Member FDIC
Alliant Logo
  • 5.18% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Bask bank logo
  • 5.15% APY
  • Minimum deposit: $1,000
  • Term: 12 months
  • Member FDIC
Barclays Logo
  • 5.15% APY
  • Minimum deposit: $0
  • Term: 12 months
  • Member FDIC
BMO logo
  • 5.25% APY
  • Minimum deposit: $1,000
  • Term: 13 months
  • Member FDIC

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

Truist Bank certificate of deposit calculator

Your earnings:
Total Result:

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:

ProsCons
No feesThere are CDs with higher interest rates
Minimum deposit $1000
Pros and cons Truist Bank certificate of deposit

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:

InformationDescription
Websitehttps://www.truist.com/
Twitterhttps://twitter.com/TruistNews
Facebookhttps://www.facebook.com/truist
YouTubehttps://www.youtube.com/channel/UC10Dmvy2Ih93O8hCg_UYN6w
Interest information about Truist Bank

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

Updated the day 1 September, 2023 by Alfredo Barandiarán

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