Jenny Ellis
Truist Bank CD rates reach as high as 3.50% APY on select terms as of June 2026, giving savers in its footprint a competitive short term parking spot for cash. But the bank only operates in 15 states and Washington D.C., so plenty of would be customers will need to look elsewhere.
A Bank Born From a Merger, Now Among the Biggest
Truist formed in 2019 when SunTrust and BB&T combined operations, and the resulting company now ranks among the ten largest banks in the country by assets. That scale gives it the ability to offer a full menu of deposit products: checking, savings, money market accounts, debit and gift cards, health savings accounts, and certificates of deposit. The CD lineup is fairly simple by design, with terms running from just 7 days out to 60 months.
Rates do not appear to vary by state right now. Whether a customer lives in Charlotte or Miami, the published annual percentage yields are the same, at least based on the bank's current rate sheet. That uniformity makes comparison shopping easier for anyone weighing Truist against a competitor, since there is no need to check state by state pricing.
What the Rates and Terms Actually Look Like
| Feature | Detail |
|---|---|
| CD term range | 7 days to 60 months |
| Top APY | Up to 3.50% |
| Minimum deposit | At least $1,000 (varies by term) |
| Minimum balance for 7 to 31 day terms | $2,500 |
| Minimum balance for 32 days to 60 months | $1,000 |
| Early withdrawal penalty | Yes, specific terms not publicly disclosed |
| Grace period, 7 to 31 day terms | 1 day |
| Grace period, 32 days to 60 months | 10 days |
Notice the split in minimum balances. Shorter terms, those lasting a month or less, require a heavier $2,500 deposit, while anything from about a month up to five years only needs $1,000 to open. That structure rewards savers willing to lock up money for longer with a lower barrier to entry, even though the shortest terms are where Truist tends to post its most attractive yields.
Truist does charge an early withdrawal penalty if a customer pulls money out before maturity, though the bank has not published the exact fee schedule. What is public is the grace period: one day of wiggle room after a 7 to 31 day CD matures, and ten days after anything longer matures, during which a saver can withdraw or roll over funds without a penalty.
Where Truist Actually Operates
Truist CDs, along with the rest of the bank's retail products, are only available to residents of Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington D.C. Outside that footprint of 15 states plus the district, there is no way to open an account, and CD shoppers elsewhere in the country will need to compare other banks.
Opening a CD also is not something Truist lets customers do purely online. Anyone interested has to visit a branch in person, which is a meaningful limitation compared with online focused banks that let customers open accounts entirely on the web in a few minutes.
Weighing the Pros Against the Cons
On the plus side, Truist's rates tend to run above the national average for CDs, particularly on its shorter terms, and there are no monthly maintenance fees attached to the accounts. That combination makes the CDs reasonably attractive for someone who already banks with Truist or lives within its service area.
The drawbacks are just as real. Geographic restriction is the big one: 15 states and D.C. is a fraction of the country, so most Americans simply cannot use this product. And even within that footprint, Truist's rates are not always the best available. Some terms are competitive, others less so, which means it pays to check current rate tables at multiple banks before committing.
Alternatives Worth Comparing Before You Commit
Because Truist's CD rates vary in competitiveness by term, it makes sense to shop the broader market before depositing money. Several other paths for parking savings deserve a look:
- Other high yield CDs: Some banks and credit unions post rates that beat Truist's on longer or shorter terms alike, so comparing current listings before depositing is worthwhile.
- High yield savings accounts: These offer APYs of 4% or more at some institutions, which can match or exceed Truist's best CD rate while keeping funds more accessible.
- High interest checking accounts: A checking account without withdrawal limits can sometimes pay more than a traditional checking account, though usually less than a CD.
- Money market accounts: These blend savings style yields with check writing and debit card access, though they may carry monthly fees or minimum balance rules.
- Series I savings bonds: Issued by the U.S. government, I bonds are designed to protect savings from inflation. They may or may not beat the best CD rates, and require a minimum one year commitment.
Truist Bank CDs are FDIC insured, meaning deposits are protected up to $250,000 per depositor, per ownership category, in the event the bank runs into financial trouble. That insurance is standard across FDIC member banks and applies the same way to Truist as it would to any competitor.
For someone who already lives in Truist's footprint and wants a simple, branch based CD with no monthly fees, the bank's short term rates are hard to ignore. For everyone else, or for savers chasing the single best yield regardless of institution, a broader rate comparison across banks, credit unions, and online savings options remains the more reliable approach.
