Truist CD rates change regularly and vary by term length

Truist Bank's certificate of deposit (CD) rates shift based on market conditions and the length of time you lock your money away. The rates you see today will not be the same next month, and a 3-month CD pays differently than a 5-year CD. To find the exact rate for the specific term you want, you need to check Truist's website directly or call a branch, because rates are not published in a way that stays current in written guides.

CD rates at Truist also depend on whether you open the account in person at a branch, online, or through a broker. Some banks offer higher rates on online CDs than on branch CDs because online accounts cost them less to run. Truist's online and branch rates may differ, so if you are comparing, check both.

The Federal Reserve's interest rate decisions affect what all banks, including Truist, can offer on CDs. When the Fed raises rates, banks typically raise CD rates within weeks. When the Fed cuts rates, CD rates fall. This means the rate you lock in today is the rate you keep for the entire term — if rates rise after you open your CD, you do not benefit, but you also do not lose if rates fall.

Key Takeaways

  • Truist CD rates vary by term length (3 months, 6 months, 1 year, 3 years, 5 years, and longer) and change as market conditions shift.
  • You must check Truist's website or call a branch to see current rates, because they are updated frequently and not fixed in advance.
  • Online CDs at Truist may offer different rates than branch CDs, so compare both if you are deciding where to open.
  • The rate you lock in when you open a CD stays the same for the entire term, regardless of what happens to market rates later.
  • Early withdrawal from a Truist CD typically costs you some of the interest you earned, so confirm the penalty before you open.

How Truist CD terms and rates work together

Truist offers CDs in several standard terms: 3 months, 6 months, 1 year, 18 months, 2 years, 3 years, 5 years, and sometimes longer. Shorter terms (3 to 6 months) almost always pay less interest than longer terms (3 to 5 years), because you are tying up your money for less time. A 5-year CD at Truist will pay more per year than a 1-year CD, but you cannot touch the money without penalty for five years.

The tradeoff is straightforward: longer commitment, higher rate. Shorter commitment, lower rate. If you think you might need the money within a year, a 1-year CD protects you from a penalty if you do. If you are certain you will not need it for five years, a 5-year CD locks in a higher return.

Truist also offers what it calls "Add-On CDs" or "Step-Up CDs" in some cases, which allow you to add money to the CD after you open it, or which increase the rate at set points during the term. These are less common than standard CDs and have their own rate schedules. Ask a Truist representative whether these options are available and what rates they currently offer.

Where to find Truist's current CD rates

The fastest way to see Truist's current CD rates is to visit Truist.com and navigate to the savings and CDs section. Truist displays rates for each term length on that page, updated regularly. You can see rates for both branch and online accounts there.

If you prefer to speak with someone, call Truist at 1-800-872-2657 or visit a local branch. A representative can tell you the exact rate for any term you are considering and explain any current promotions (such as a higher rate for opening a new account or linking it to a checking account).

You can also compare Truist's rates to other banks' rates using financial websites like Bankrate, DepositAccounts, or the FDIC's BankFind tool. These sites do not set rates — they just display what banks are offering — and they help you see whether Truist's CD rates are competitive for the term you want.

Truist CD penalties and what happens at maturity

When your Truist CD reaches its maturity date, the bank automatically renews it for another term at the current rate, unless you tell it not to. You have a window (usually 7 to 10 days after maturity) to withdraw the money or move it elsewhere without penalty. If you do nothing, Truist renews the CD at whatever rate it is offering that day for the same term length.

If you withdraw money from a Truist CD before it matures, you pay an early withdrawal penalty. The penalty amount depends on the term: longer-term CDs usually have larger penalties than shorter-term CDs. For example, a 5-year CD might have a penalty equal to 150 days of interest, while a 1-year CD might have a penalty equal to 30 days of interest. Truist's website or a representative can tell you the exact penalty for the term you choose before you open the account.

The penalty comes out of your interest earnings first. If you have not earned enough interest yet, the penalty eats into your principal. This is why it matters to know the penalty before you commit — if you think there is any chance you will need the money, a shorter-term CD with a smaller penalty may be safer.

How CD rates at Truist compare to other banks

Truist is a large regional bank with branches across the Southeast and Mid-Atlantic. Large banks like Truist typically offer lower CD rates than online-only banks or credit unions, because they have more overhead (branch staff, buildings, technology). Online banks like Marcus, Ally, or Discover often pay higher rates on CDs because they have no branches to maintain.

If you are choosing between Truist and another bank based on CD rates, the difference can be meaningful. A 5-year CD at an online bank might pay 0.5% to 1% more per year than the same term at Truist. On a $10,000 CD, that difference adds up to $50 to $100 per year. Over five years, that is $250 to $500 in extra interest.

However, Truist offers something online banks do not: a local branch where you can deposit cash, speak to someone in person, and handle other banking needs. If you already have a Truist checking account or use Truist for other services, opening a CD there may be more convenient, even if the rate is slightly lower. The choice depends on whether convenience or the highest possible rate matters more to you.

Special CD offers and promotions at Truist

Truist occasionally runs promotions on CDs, such as a higher rate for new customers, a bonus if you open a CD and a checking account together, or a rate bump if you maintain a minimum balance in a linked account. These promotions change, so they are not listed here, but you can find current offers on Truist.com or by asking a representative.

Some promotions are time-limited, meaning they explore only if you open the CD during a certain window. Others are ongoing. Always ask whether a rate you see is a promotional rate (temporary) or a standard rate (permanent). A promotional rate might be higher, but it applies only to CDs opened during the promotion period.

Frequently Asked Questions

Can I move my CD from Truist to another bank without penalty?

No. If you withdraw the money before the CD matures, Truist charges an early withdrawal penalty. However, once the CD matures, you can withdraw the full amount and move it to another bank without any penalty. You have a grace period (usually 7 to 10 days) after maturity to do this before Truist automatically renews the CD.

What happens if interest rates drop after I open a CD at Truist?

Your rate stays the same for the entire term. If rates drop, you keep earning the higher rate you locked in. This is one advantage of CDs: you are protected from falling rates. The tradeoff is that if rates rise, you cannot move your money to a higher-paying CD without paying the early withdrawal penalty.

Does Truist offer CDs with no early withdrawal penalty?

Truist offers standard CDs with early withdrawal penalties. Some banks offer "no-penalty CDs" that let you withdraw early without a fee, but they typically pay lower rates to offset that flexibility. Check Truist's website or ask a representative whether it currently offers a no-penalty CD product.

Is my money safe in a Truist CD?

Yes. Truist is a member of the Federal Deposit Insurance Corporation (FDIC), which insures deposits up to $250,000 per account holder per bank. Your CD is covered by this insurance, so even if Truist fails, your money is protected up to the limit.

How often do Truist CD rates change?

Truist can change its CD rates at any time, and it typically does so in response to changes in the Federal Reserve's interest rate or shifts in market conditions. Rates may change daily, weekly, or monthly depending on the market. Once you open a CD, your rate is locked in and does not change, but new CDs opened later will reflect the new rates.