Current Truist CD Rates
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Truist Bank has branches in 17 US states and Washington, DC. The bank offers certificates of deposits (CDs), which are savings accounts that lock in your rate for the entire term. CDs provide a guaranteed rate of return since there's no chance your rate will increase or decrease before the term ends.
Truist CD Rates
Truist has competitive CD rates on two terms, regardless of where you live:
| CD term | APY (Annual Percentage Yield) |
| 7 months | |
| 12 months |
The bank does offer other CD terms ranging from seven days to five years. But it doesn't display these rates online, and rates may vary by location. So you need to call or visit your local branch to ask about rates for a term.
Still, Truist rates on terms other than seven and 12 months are very low across the board. The best CD rates are usually from online banks.
Truist CD Rates Pros and Cons
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How Truist CD Rates Compare
Truist CDs vs. Chase CDs
As with Truist, Chase CD rates can vary depending on where you live. But Chase posts all of its rates online so they're easy to find.
Chase's standard rates are low overall, but you can earn a "relationship rate" if you also have a Chase checking account. While this doesn't make a huge difference on some terms, you can earn a significantly higher relationship rate on other terms.
If you qualify for a relationship rate with Chase, it might be the better pick. Just look at the Chase website to see rates in your area for the term you're interested in to decide whether it's worth using this bank.
Truist CDs vs. Bank of America CDs
Bank of America CD rates depend on the CD type and term length you choose. There are three types of CDs: fixed, featured, and flexible.
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Bank of America CDs are stronger than Truist CDs overall, but your choice could come down to which term length you want.
Why You Should Trust Us: How We Reviewed Truist CDs
We reviewed Truist CDs using Insider's certificate of deposit methodology. For CDs, we look at the minimum deposit, interest rates, variety of term options, early withdrawal penalties, mobile app, ethics, and customer support. We rank each category, then calculate the average and assign CDs a score between 0 and 5.