Lauren Graves

Marcus CD Rates – Now up to 5.00% APY!

Fact Checked : Dan Nelson
Updated August 7, 2023

You’ve likely heard of Goldman Sachs, the global investment services firm that’s been around since 1869 and has over $2.1 trillion in assets under management, but you might not be as familiar with their digital subsidiary, Marcus.

Marcus by Goldman Sachs is an online-only, FDIC-insured bank based out of Salt Lake City, Utah.

On the savings side, Marcus offers a full suite of deposit accounts. These include:

9 regular CDs (certificates of deposit) with terms ranging from 6 months to 6 years,
a No-Penalty CD with a 13 month term,
a Rate Bump CD with a 20 month term and
a variable-rate online savings account.

For the purpose of this review, we will just focus on Marcus by Goldman Sachs’s CDs and their rates – which all beat the national average by comfortable margins.

To see if their CDs are right for you, continue reading below.

Marcus CD Rates + Account Details

image credit: marcus.com

All of the CDs offered through Marcus by Goldman Sachs come with a low minimum deposit requirement of just $500 and are FDIC insured up to $250,000 per depositor. This includes their standard CDs as well as their No Penalty CD and Bump Up CD.

CD Rates

CD Term	APY
6 month	4.85%
7 month No-Penalty CD	0.45%
9 month	4.90%
11 month No-Penalty CD	0.35%
12 month	5.00%
13 month No-Penalty CD	4.50%
18 month	4.90%
20 month Rate Bump CD	4.35%
2 year	4.40%
3 year	4.30%
4 year	4.00%
5 year	3.80%
6 year	3.70%

APY = Annual Percentage Yield

To put the offers above in perspective, the current national average for 12 month CDs and 60 months CDs sit at just 1.72% APY and 1.37% APY, respectively, according to FDIC data.

That said, top yields from other online banks and credit unions with nationwide acceptance are now inching over the 5.25% and 4.50% APY mark for the same respective terms.

How do Marcus CD Rates Compare

Take a look at the table below to see how Marcus by Goldman Sachs CD rates compare to other CD rates offered by FDIC-insured online banks.

Bank	Best CD Rate
Ally Bank	5.00%
Discover Bank	5.00%
Synchrony Bank	5.10%
TIAA Bank	5.25%
Marcus by Goldman Sachs	5.00%

CD rates surveyed on August 7, 2023.

How Much Can You Make with a Marcus Bank CD?

The amount of money you can earn with a Marcus by Goldman Sachs CD is going to depend on your deposit size, the CD term you select and its APY (annual percentage yield). Below are some potential earnings assuming a deposit size of $100,000.

CD Term	APY	Earnings
6 months	4.85%	$2,396.29
12 months	5.00%	$5,000.00
24 months	4.40%	$8,993.60
60 months	3.80%	$20,499.92

Earnings = Sum of all interest payments through maturity.

No-Penalty CDs

Marcus by Goldman Sachs currently offers three No Penalty CDs, but only one has a competitive yield.

The no-penalty CD is much more liquid than your standard CD as it comes with no early withdrawal penalty – meaning your funds are accessible at any time.

You’ll earn the fixed APY for the duration of your CD, but you can withdraw up to 100% of the funds 7 days after issuance without incurring any penalty fee.

No-Penalty CDs come with a minimum deposit requirement of $500.

Rate Bump CD

Marcus’s newest CD offering is their 20 month Rate Bump CD. This is a great product for a rising interest rate environment because they let account holders raise the rate of their CD one time during its duration. Of course there are no penalties or fees associated with changing the rate and you may request to change it whenever the CD holds a higher rate than the one you are locked in with.

As with all of Marcus’s CDs, this one also comes with a minimum deposit requirement of $500.

Compounding and Crediting Interest

Interest on Marcus CDs is compounded daily and credited back to your account monthly.

Interest is compounded using the daily balance method, meaning the interest rate is applied to your principal and all accrued interest every day. You can learn more in their Truth-in-Savings disclosure forms.

10-Day Rate Guarantee

Marcus CDs are backed by a 10-day Rate Guarantee, which promises the highest published interest rate and APY (annual percentage yield) Marcus has to offer on your term for 10 days after certificate issuance. Essentially, you’ll get the highest rate on your account as possible for a short time—you aren’t locked into a rate until that 10-day period is up. To ensure that this safety net is enforced, just make sure you have the $500 minimum deposited in the account within this time period.

Grace Period and Early Withdrawal Fees

There is a 10 day grace period within which you should try to make any changes or withdrawals after a CD renews.

If nothing is done during this grace period CDs automatically renew with the same term and the going APY at that time.

If you need the funds from your CD prior to its maturity you will incur an early withdrawal fee (not applicable to No Penalty CD specials).

Early withdrawal fees are as follows:

For terms of less than 1 year, you’ll be charged 90 days’ simple interest
for terms of 1 – 5 years, you’ll be charged 270 days’ simple interest
for terms more than five years, you’ll be charged 365 days’ simple interest.

How to Open and Fund the CD

Marcus CDs must be opened online. To get started go here and have the following pieces of personal and financial information readily available to expedite the process:

Personal Information

Your Social Security number
A government-issued ID
A valid email address

Financial Information

If transferring funds from another bank or credit union, please have:

your current bank or credit union’s routing number
bank account number where the funds will be withdrawn from to fund your Marcus CD

Huntington Bank CD Rates – Now up to 5.39% APY!

Written by: Lauren Graves

Fact Checked : Dan Nelson
Updated August 2, 2023

Originally founded as The Huntington National Bank in 1866 in Columbus, Ohio, Huntington Bank has maintained its regional status over the years despite several mergers and acquisitions and hefty asset growth.

Today, Huntington Bank is the 28th largest U.S. bank by asset size with over $182.9 billion in assets and $108 billion in deposits.

The regional bank serves seven states in the Midwest:

Ohio,
Illinois,
Indiana,
Kentucky,
Michigan,
Pennsylvania,
and West Virginia.

The holding company of which Huntington Bank is the banking subsidiary is called Huntington Bancshares. This entity trades on the NASDAQ under the ticker HBAN.

If you’re a consumer looking to earn a good rate of return on the money you deposit, this bank leaves much to be desired.

Its deposit products—CD and money market accounts, specifically—are far from competitive and even lag the national average currently.

That said, the bank has good branch and service accessibility and lets you waive account fees fairly easily, so if you can look past low APYs, there are some advantages.

In this review we’ll be looking at Huntington Bank’s CD Rates and Relationship Money market account.

Huntington Bank CD Rates + Account Details

Huntington Bank’s deposit products are insured by the FDIC up to $250k per depositor or $500k on joint accounts.

Their CD rates have grown more competitive in 2023 but only for their promotional deposits. Their standard CD rates haven’t risen at all. This is on par with what we’ve seen at many large national banks, such as Bank of America or Wells Fargo, who have little incentive to attract new savers with high returns even as the Fed continues to raise rates.

The good news is Huntington Bank has been adding more promotional CDs to their certificate of deposit suite and now offers 5 promotional CDs with terms ranging from 7 to 25 months. This is up from just 1 promotional CD offered in the Spring.

All Huntington Bank certificates of deposit require a minimum opening deposit of $1,000.

Promotional CD Rates

Term	APY
7 months	4.86%
11 months	5.39%
17 months	4.86%
25 months	4.34%

APY = Annual Percentage Yield

During our last update in July Regions also had a 14 month promotional CD offer but they removed it in August. Their promotional CD rates are offered in 2 tiers by deposit size. The 2 tiers currently pay the same yield but for future reference they are:

$1,000 – $19,999.99
$20,000 +

Standard CD Rates

Term	APY
1 month	0.05%
3 months	0.05%
6 months	0.10%
9 months	0.10%
12 months	0.10%
18 months	0.10%
24 months	0.10%
36 months	0.10%
48 months	0.10%
60 months	0.10%
72 months	0.10%

APY = Annual Percentage Yield

Huntington Bank’s standard CD rates are offered in 3 tiers with all tiers paying the same yield currently. The tiers are:

$1,000 – $9,999.99
$10k – $49,999.99
$50k – $99,999.99

To give these yields (above) some context, the current national average on a 12 month CD and a 60 month CD sit at just 1.72% and 1.37%, respectively, according to FDIC data.

How do Huntington Bank’s CD Rates Compare

Take a look at the table below to see how Huntington Bank’s CD rates compare to other FDIC-insured regional banks.

Bank	Best CD Rate
Citizens Bank	4.50%
Fifth Third Bank	5.00%
Santander Bank	5.50%
Huntington Bank	5.39%

CD rates surveyed on August 2, 2023.

How Much Can You Make with a Huntington Bank CD?

The amount of money you can earn with a Huntington Bank CD is going to depend on your deposit size, the CD term you select and its APY (annual percentage yield). Below are some potential earnings assuming a deposit size of $100,000.

CD Term	APY	Earnings
7 months	4.86%	$2,806.94
11 months	5.39%	$4,929.95
17 months	4.86%	$6,954.06
25 months	4.34%	$9,254.47

Earnings = Sum of all interest payments through maturity.

Compounding and Paying Interest

Interest is compounded daily and credited either monthly, quarterly, semi-annually, annually, or at maturity. You get to choose the frequency.

Huntington Bank offers Jumbo CDs and IRA CDs as well however these all come with the same yields shown above. Certificates with balances of $100,000 are considered to be Jumbo CDs. This bank has also offered promotional deposits in the past, but is not running any at this time.

Early Withdrawal Penalties

If you need access to your funds prior to the maturity date of your Huntington Bank CD you will incur the following penalties:

For terms of 91 days or less, you will owe the full term of your account in simple interest.
For terms of 92 days to 1 year, the penalty is 3 months interest.
For terms of 1 year to 18 months, the penalty is 6 months interest.
Finally, for terms of more than 18 months, the penalty is 12 months interest.

The minimum early withdrawal penalty is 7 days interest.

Grace Period

There is a standard grace period of 10 days for Huntington Bank CDs in which you can withdraw or add funds to your deposit. All accounts are automatically renewable unless you specifically request otherwise except for accounts used for public funds or those with opening balances of $100,000 or more with a term of less than one month. These are not eligible for automatic renewal.

Huntington Bank Relationship Money Market Account Rate + Details

A Huntington Bank Relationship Money Market account now offers competitive yields but also comes with a significantly steeper minimum deposit requirement of $25,000.

The precise interest rate you’ll earn, however, depends on your “relationship” with the bank. And by this, they mean which other accounts you hold with them.

The rate table below shows the APY you’ll earn based on the type of account(s) you hold.

Money Market Rates

Account Held	APY on money market
Standard	4.49%
Huntington Perks Checking	4.54%
Huntington Platinum Perks Checking	4.59%
Private Client Account	4.70%

APY = Annual Percentage Yield

Please note that Huntington Bank only provides the advertised yields on money market balances that are $2 million dollars or less. For all money market accounts with balances above $2m, the APY will be just 0.25%.

To put these yields in perspective the current national average for a money market account with a balance of less than $100,000 is 0.63%.

That said, there are a number of FDIC-insured online banks with savings accounts and/or money market accounts with rates above 5.00% APY and minimum balance requirements of less than $1,000.

Interest is compounded monthly and credited monthly.

Avoid Fees

These accounts have the potential to ding you $25/month in maintenance fees. Here’s how to avoid that:

Maintain an average daily balance of at least $25,000 (which is also the only way to earn dividends on your balance).
Maintain either a Huntington Perks Checking or Huntington Platinum Perks Checking account.

A Huntington Bank money market account does have check-writing capabilities, but their checking accounts do.

Huntington Bank Fee Schedule

Type	Fee
Wire Transfers – Domestic Incoming	$15
Wire Transfers – Domestic Outgoing	$25
Wire Transfers – International Incoming	$15
Wire Transfers – International Outgoing	$75
Stop Payment	$31
Return Deposit Item	$10
Foreign Currency Fee	$8 (exchange rates apply)
Expedited Delivery	$25 (debit or ATM card)
Cashier Check	$6

Checks are also available but the cost per box varies based on design.

If you plan on using a Huntington Bank ATM card you’ll want to note that Huntington Bank charges a $3 fee for each out of network cash withdrawal on top of whatever the ATM owner charges.

Huntington Bank Account Features + Customer Sentiment

One of the noteworthy account features across many Huntington Bank accounts is the 24-Hour Grace, which is basically built-in overdraft protection.

This protection feature will give you 24 hours to make a deposit to bring your balance positive in the event of an overdraft. It is applied for free to all checking, savings, and money market accounts with Huntington Bank.

Relationship rate benefits take certain decent Huntington Bank products—like savings and money market accounts—and make them better. So if you intend to join Huntington, know that you will get the most out of this membership if you have multiple accounts with the bank.

This bank hasn’t received the best ratings from other review sites online with scores ranging between 1.5 (ConsumerAffairs) and 3.5 (WalletHub) stars. That said, the majority of the dis-satisfaction tends to reside on the loan site with mortgage and auto loan clients being the most vocal about their negative experiences.

The Huntington Bank app has a 4.4-star rating on Google Play and a 4.8-star rating on the App Store. This app has been praised for being comprehensive and having unique features that you don’t always see in a banking app.

You can reach customer service in a number of ways. You can call (800) 480-2265 from 7:00 AM to 7:00 PM ET, live chat with a representative through the Huntington website, tweet @AskHuntington, or even direct message the bank on Facebook.

Customer service isn’t the only important aspect of overall banking experience. As mentioned, Huntington Bank has great accessibility. There are over 800 Huntington Bank branches and 1,400 ATMs across Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia, and this bank does a good job of placing its branches strategically for maximum convenience. Case in point, if you live in the Midwest, you’ve probably even seen a Huntington Bank hub in your local grocery store.

Huntington Bank customers can make ATM and mobile deposits up to midnight with All Day Deposit.

Regions Bank CD Rates – Now up to 5.15% APY!

Written by: Lauren Graves

Fact Checked : Dan Nelson
Updated August 2, 2023

Regions Bank, headquartered in Alabama, is a sizable full-service financial institution serving customers across 16 U.S. states.

Although it is geographically limited, it is still the 23rd largest bank in the country by asset size.

Regions Bank is also a member of the S&P 500 with its $153 + billion in assets. This traditional, regional bank is available to anyone that lives in the following states:

Alabama,
Arkansas,
Florida,
Georgia,
Illinois,
Indiana,
Iowa,
Kentucky,
Louisiana,
Mississippi,
Missouri,
North Carolina,
South Carolina,
Tennessee, or
Texas.

Those that qualify for membership may choose to bank in-person at a branch, or digitally by enrolling in online banking.

Checking, savings, money market, and CD accounts are eligible for online banking.

Find out all there is to know below—from savings rates to disclosures—and what its members have to say about banking with Regions.

Regions Bank CD Rates + Account Details

Regions Bank offers “Relationship Rates” and Promotional Relationship Rates.” Their Relationship Rate CDs are not competitive at this time, however, their Promotional Relationship CDs are starting to nudge upwards.

For exact rates being offered near you, you’ll need to search the Regions CD rate search tool.

The CD rates shown below were surveyed on August 2, 2023 using a Miami, Florida zip code (33012).

CD Rates Promotional

Regions Bank Promotional CDs require a minimum deposit of $10,000 to open. To obtain the higher “Relationship” rate you must open and maintain a Regions checking account.

Term	Standard APY	Relationship APY
8 months	4.75%	5.00%
14 months	4.90%	5.15%
26 months	4.25%	4.50%

APY = Annual Percentage Yield

CD Rates Non-Promotional

A minimum deposit of $2,500 is required for terms of 7 – 89 days and a minimum deposit of $500 is required for all other terms.

CD Term	Standard APY	Relationship APY
1 – 5 months	0.01%	0.01%
6 months	0.01%	0.03%
8 – 12 months	0.01%	0.03%
14 – 17 months	0.01%	0.03%
18 – 23 months	0.01%	0.03%
24 – 25 months	0.01%	0.05%
27 – 35 months	0.01%	0.05%
36 – 47 months	0.01%	0.05%
48 – 59 months	0.01%	0.05%
60 – 72 months	0.01%	0.05%

APY = Annual Percentage Yield

As you can see, there are plenty of CD terms to choose from at Regions Bank but the rates offered are very low unless you opt for a promotional CD. To give the offers (above) a little more context, the national average for 12 month and 60 month CDs sits at 1.72% and 1.37%, respectively, according to FDIC data.

That said, the top CD rates from online banks and nationally available credit unions are inching over the 5.25% APY and 4.50% APY mark for the same respective terms.

How do Regions Bank’s CD Rates Compare?

Take a look at the table below to see how the best CD rates offered by Regions Bank compare to other regional banks and their top CD rates.

Bank	Best CD Rate (APY)
Huntington Bank	5.39%
Santander	5.50%
Truist	5.00%
Regions	5.15%

CD rates surveyed August 2, 2023.

How Much Can You Make with a Regions Bank CD?

The amount of money you can earn with a CD form Regions Bank is going to depend on your deposit size, the CD term you select and its going APY (annual percentage yield). Take a look at the table below to see how much you’d assuming a $25,000 deposit and an existing Regions Bank Checking account to obtain the Relationship APY.

CD Term	APY	Earnings
8 months	5.00%	$826.54
14 months	5.15%	$1,508.44
26 months	4.50%	$2,501.64

Earnings = Sum of all interest payments through maturity.

Compounding and Crediting Interest

Interest is compounded daily and paid monthly, quarterly, semi-annually, annually, or at maturity, depending on your term. If a certificate is 1 year or more, interest is credited quarterly back into it unless you’ve asked for these payments to be disbursed to another checking or savings account in which case you may choose the disbursement frequency.

Grace Period and Early Withdrawal Penalties

The grace period on a Regions Bank Time Deposit account is 10 days and early withdrawal fees will come with the following charges/fees:

For terms of 31 days or less, you will be charged all the interest your account would have earned;
for terms of 32 – 181 days, you will be charged 31 days’ interest;
for terms of 182 – 364 days, you will be charged 90 days’ interest;
and for terms of 365 or more, you will be charged 182 days’ interest.

Regions Savings Accounts + Money Market Account Details

All of Regions deposit accounts (both fixed rate and variable) are FDIC insured up to the legal limit of $250,000.

For a savings account option, you can choose from the LifeGreen account, the Regions Savings account, and the Now Savings account, but their savings rates aren’t providing much in the way of returns to consumers.

Savings Rates

Account Name	Min Deposit	Avoid Fee	APY
LifeGreen Savings	$50	Must have checking account or $5/mo	0.01%
Regions Savings	$50	$300 avg. daily balance or $5/mo	0.01%
Now Savings	$10	None	0.01%
Money Market	$100	$2,500 avg. daily balance or $12/mo	0.01% – 0.05%
Premium Money Market	$100	$15k avg. daily balance or $15/mo	1.50% – 3.50%

APY = Annual Percentage Yield

Average savings account rates sit at 0.40% while average money market account rates sit at 0.59% according to the FDIC, but the most competitive variable-rate accounts on the market are hovering around 5.00% APY with no minimum balance requirements or monthly fees.

LifeGreen Savings Account Details

You’ll need to search rates by area to be sure what Regions Bank is offering in your location, but across several zip codes, 0.01% is what you’ll get on a LifeGreen Savings account regardless of your balance.

Now for some good news. This account also comes with a 1% annual savings bonus of up to $100. To nab this bonus rate, you’ll have to set up automatic monthly transfers of $10 or more from your Regions LifeGreen checking account into your savings account.

Regions Savings Account Details

A Regions Savings won’t do you any better in earnings as it also pays a rate of 0.01%. This account requires a minimum opening deposit of $50 and an average daily balance of $300. If your balance is below this, you’ll be charged a monthly low balance fee of $5. A Regions Savings account does not pay a savings bonus.

Regions Now Savings Account Details

Finally, there is the Regions Now Savings account, and this has an APY of—you guessed it—0.01%, but it’s a little more flexible than the last one. Requiring a minimum opening deposit of $10 and absent maintenance fees, this account is fairly easy to get. The only account opening requirement is that you have a Regions Now Card, a reloadable Visa Prepaid Card.

Although you don’t need a Regions checking account to open a Now savings account, this savings account also comes with a 1% annual savings bonus of up to $100 if you set up monthly transfers from a checking account. And for every month that you make a deposit of at least $5 into this and don’t make any withdrawals, you’ll get a $1 bonus. A Now savings account is the only savings account mentioned so far that will always earn the same rate across all balances.

Dividends on all Regions savings accounts are compounded daily and paid monthly. Excessive withdrawals outside of the federally-enforced limit of 6 will cost you $3 each.

Regions Bank Money Market Account Details

If you’re looking for an alternative or addition to these standard savings accounts, Regions Bank also offers Money Market Accounts and Premium Money Market Accounts. Their normal money market accounts aren’t competitive at this time and yield just 0.01% APY. Their Premium Money Market Accounts pay a better interest rate on your balance but still fall far short of top yields from other online banks.

The annual percentage yield is determined by your balance amount. See the table below for details.

Premium Money Market Account Rates

Balance	APY
$0.00 – $9,999.99	1.50%
$10k – $49,999.99	2.00%
$50k – $99,999.99	2.50%
$100k – $249,999.99	3.50%
$250k +	3.50%

APY = Annual Percentage Yield

To put these yields into perspective, the current national average for a money market account sits at 0.59% APY according to FDIC data.

You can open either type of MMA with a deposit of $100, but a Money Market Account requires a minimum average daily balance of only $2,500 to avoid a $12 monthly maintenance fee while the Premium MMA requires $15,000 or a LifeGreen Preferred checking account (an interest-bearing checking account with high balance requirements) to avoid a $15 monthly maintenance fee. Excessive withdrawal from a money market account will cost you $15 a piece.

Regions Bank Fee Schedule

Depending on which actions you take with your Regions Bank account and how you move your money about, you may encounter fees from time to time.

Below is a complete list of potential fees and account limitations you may come across:

Action	Fee/Limitation
Domestic Wire (inbound)	$15
Domestic Wire (outbound)	$30
Insufficient Funds Fee	$36
Overdraft Fee	$36
Monthly Service Charge	$12
Is the Monthly Service Charge Avoidable?	Yes
Permitted Monthly Withdrawals	6
Max Number of Checks per Month	6
Online Banking	Yes
Online Bill Pay	Yes
Online Statements	Yes

Banking Experience and Customer Sentiment

When you bank with Regions, you’ll have access to over 1,952 ATMs in the bank’s cross-state service area and branches. There are around 1,454 branch locations in 16 states, and you can use the site’s locator to see if there’s an ATM or branch location near you. Keep in mind that Regions will not reimburse out-of-network ATM charges.

Regions Bank users are mostly content with what this institution brings to the table. Out of 2,100 customer reviews left on WalletHub, Regions Bank pulled 3.8 stars, suggesting that the bank might provide a better banking experience than it does opportunities for significant savings growth.

The app for this bank is well-liked on both Google Play with a rating of 4.8 stars and on the App Store with a rating of 4.8 stars as of August, 2023.

It should be noted that the recently-updated Regions Bank website is rather poor. Though mostly comprehensive, the site is difficult to use and makes tracking down information excessively tedious. You’ll need to perform individual searches for rates on all accounts in your area and even important information such as ACH transfer limits, which aren’t listed because they “may vary by account.” Both sending and receiving daily and rolling transfer limits are determined on an individual basis, so you won’t know what yours are until you contact support at 1-800-472-2265 (the number for online banking support).

Regions Bank customer service can be reached in a variety of ways. The live chat feature on the bank’s website offers quick response times for simple questions, but a call to the customer service center at 1-800-734-4667 can also get you the help you need. If you have questions about Regions credit cards, mortgages, or loans, find the extension devoted to your inquiry topic. Tweet @askRegions to get support via social media or send a secure email through this form.

Truist CD Rates – Now up to 5.00% APY!

Written by: Lauren Graves

Fact Checked : Dan Nelson
Updated August 1, 2023

Truist, formerly SunTrust Bank, is a both a brick-and-mortar and online bank. Their branch locations are limited to a handful of states in the Southeast, but their personal banking products can be managed 100% digitally – making Truist and their deposit accounts accessible to just about anyone.

In this review we’ll cover Truist’s CD rates (certificates of deposit).

They currently offer just two CDs online – a 7 month and 12 month CD online. They may have additional offers in-branch, but you’ll have to stop by a location near you to see what (if anything) is available.

To see if Truist’s online CDs are right for you continue reading our review below.

Truist CD Rates + Account Details

image credit: truist.com

If you navigate to Truist’s certificates of deposit page you’ll see they claim to offer CDs with terms ranging from 7 days to 60 months. That said, if you’re opening an account online, they only offer a 7 month CD and a 12 month CD.

CD Rates

CD rates surveyed June 8, 2023.

Deposit Size	CD Term	APY
$0 – $49,999	7 months	5.00%
$50k – $99,999		5.00%
$100k + (Jumbo)		5.00%
$0 – $49,999	12 months	4.50%
$50k – $99,999		4.50%
$100k + (Jumbo)		4.50%

APY = Annual Percentage Yield

Truist’s CD rates are not competitive at this time and provide flat yields across all terms. For context, the national average for a 6 month CD and a 12 month CD sit at 1.30% and 1.72% APY, respectively, according to FDIC data.

However, top yields from online banks are inching close to the 5.25% APY mark for the same terms.

How Do Truist’s CD Rates Compare?

Take a look at the table below to see how the best CD rates offered by Truist stack up against the competition.

Bank	Best CD Rate (APY)
Chase Bank	5.00%
Morgan Stanley	5.42%
Santander Bank	5.50%
Truist	5.00%

CD rates surveyed August 1, 2023.

How Much Can You Make with a Truist CD?

The amount of money you can earn with a Truist CD is going to depend on your deposit size, the CD term you select and its going APY (annual percentage yield). Take a look at the table below to see how much you’d earn based on a $25,000 deposit.

CD Term	APY	Earnings
7 months	5.00%	$721.75
12 months	4.50%	$1,125.00

Earnings = Sum of all interest payments through maturity.

Minimum Deposit and Rate Tiers

A minimum deposit of $1,000 is required to open a Truist CD.

If you go into a branch and are able to open a short term CD of 7 days to 31 days, the minimum deposit requirement is going to be $2,500.

As you can see from the table above, Truist CD rates are tiered and determined by deposit size (although all tiers pay the same APY currently). The tiers are as follows:

>$9,999
$10,000 – $49,999
$50,000 – $99,9999
$100,000+

All tiers currently pay the same rate and APY (annual percentage yield). This may change as rates continue to rise.

Early Withdrawal Penalties

With Truist, early withdrawal fees may result in a reduction of principal if accrued interest is not sufficient to cover the penalty. This is less forgiving than many CD accounts on the market. The fees are as follows:

CDs with a term of less than 3 months, the penalty shall be all interest that would have been
earned or $25, whichever is greater.
CDs with a term of 3-12 months, the penalty shall be an amount equal to 3 months simple interest earned on the principal amount withdrawn or $25, whichever is greater.
CDs with a term of 13-23 months, the penalty shall be an amount equal to 6 months simple interest earned on the principal amount withdrawn or $25, whichever is greater.
CDs with a term 24 months or greater, the penalty shall be an amount equal to 12 months simple interest on the principal amount withdrawn or $25, whichever is greater.

Grace Period

For CDs with terms longer than 32 days the grace period will be a standard 10 calendar days upon maturity in which you may withdraw any and all funds from your deposit without incurring a fee.

For CDs with short terms that are 31 days or under, your grace period will be just 1 day.

You will receive a notice prior to maturity to let you know of the upcoming grace period. If nothing is done during this time, the CD will renew with the same term for the going rate and APY at that time.

Banking Experience and Customer Sentiment

If you’d like to open a CD in person, Truist has just over 2,700 branches in 15 states. You can locate a branch near you here. These states are as follows:

Alabama,
District of Columbia,
Florida,
Georgia,
Indiana,
Kentucky,
Maryland,
North Carolina,
New Jersey,
Ohio,
Pennsylvania
South Carolina
Tennessee
Texas
Virginia
West Virginia

In terms of consumer reviews, Truist doesn’t perform all that well. They have just a 1.09 out of 5 star rating on the BBB with over 2,238 consumer reviews and a 1.1 out of 5 star rating on Trustpilot with 1,194 consumer reviews.

The Truist app performs much better with 4.7 stars on Google Play with over 175k consumer reviews and 4.7 stars on the App Store with over 560,000 ratings. The mobile and online platforms are said to be easy-to-use and relatively glitch-free.

Truist CD FAQs

Still have questions about Truist Bank’s certificates of deposit? See what other consumers are asking around the web along with our responses below.

Are Truist’s CD Rates FDIC Insured?

Yes. Truist is member FDIC (#6300) and all consumer deposits are federally insured up to $250,000 per depositor.

Does Truist Offer a Money Market Account?

Yes but the account is not competitive at this time. It comes with a $1,000 monthly balance requirement to avoid a $15 monthly surcharge fee and the APY (Annual Percentage Yield) sits at a negligible 0.01%.

Does Truist Offer a Savings Account?

Yes, Truist offers 2 savings accounts. The Truist One Savings account and the Truist Confidence Savings account. Both accounts provide near zero rates (0.01% APY on all balances) and are not competitive at this time.

What is Truist’s Routing Number?

Truist Bank’s routing number is 061000104.

Capital One 360 Performance Savings – Now 4.30% APY!

Written by: Lauren Graves
Published July 31, 2023

Having been founded in just 1994, it might come as a surprise that Capital One is the fifth-largest consumer bank in America today. They are a much newer institution than most of the other big banks like Citibank, Bank of America and Wells Fargo which were founded in the 1800’s and early 1900’s.

In 2011, while Capital One was primarily offering just credit cards and mortgages, they purchased ING Direct, a struggling multinational financial services corporation, and rebranded the accounts as Capital One 360 accounts.

Today, Capital One’s 360 products suite of online deposit accounts consists of:

360 Performance Savings Account (Available for IRAs) – Variable rate of 4.30% APY
360 CDs (certificates of deposit) – Fixed rates up to 4.85% APY (See rates here)
360 Checking – Variable rate of 0.10% APY
Kids Saving Account – Variable rate of 0.30% APY
Money Teen Checking – Variable rate of 0.10% APY

For the purpose of this review, we will focus on the Capital One 360 Performance Savings account, the IRA savings account and Kids Savings account. The 360 Performance Savings account is their most competitive offer but still isn’t as competitive as some of the yields provided by other FDIC-insured online banks.

That said, it does have some unique savings features and award winning apps and technology. Plus, the fact that it has no monthly maintenance fees or minimum deposit or monthly balance requirements make it widely accessible to a large swathe of people.

Capital One 360 Performance Savings Account Rate + Details

The Capital One 360 Performance Savings account is what brings many people to the digital institution, and it’s no secret why. The account is open to pretty much anyone, and in the past, has come with hefty cash bonuses. Today the account still earns a reasonable 4.30% APY and has some legacy features left over from the ING Direct days that are still quite useful.

Savings Rate

Minimum Deposit	Minimum Balance	APY
$0	$0	4.30%

APY = Annual Percentage Yield

To give the yield above some context, the national average for savings accounts sits at just 0.42% according to FDIC data, however, some online banks offer high yield savings accounts and money market accounts with rates above the 5.00% APY mark.

How Does Capital One 360 Performance Savings Compare?

Take a look at the table to see how the 360 Performance Savings account stacks up against other popular online banks and their high yield savings account offers.

Bank	APY	Min. Deposit
Citizens Access	4.50%	$0.01
PNC Bank	4.65%	$0.00
TotalDirectBank	5.20%	$25,000.00
UFB Direct	5.06%	$0.00
Capital One	4.30%	$0.00

Interest rates surveyed on July 31, 2023.

Separate Savings Accounts (formerly Buckets)

One of the more popular legacy features from ING Direct was the savings bucket feature. This allowed users to set up various “buckets” for money to be set aside for particular savings goals. This could be a vacation, a wedding, a downpayment for a house, etc.

Today, this feature still exists with the 360 Performance Savings account, but rather than having “buckets,” Capital One will just give you the option to set up multiple accounts.

If you have monthly direct deposits set up, you can then specify the amount you’d like to have flow into each account. All of the accounts would, of course, earn the same advertised APY.

Compounding Interest

Interest is compounded and paid monthly. Interest is returned to the Performance Savings account when paid.

A 360 Performance Savings account is easy to open and can be created in about 5 minutes. Funds can be transferred electronically between other Capital One accounts, external bank accounts, automatically via direct deposit from an employer or other income source, or by using the mobile check deposit feature.

Fees

Capital One 360 Performance Savings Account Fees

Type	Fee
Account Maintenance	$0
Outgoing Domestic Wire	$30
Statement Copies	$5 per statement
Cashiers Check at Capital One Location	$10
Foreign Check Deposit at Capital One Location	$0

Technically the 360 Performance Savings account only allows up to 6 transfers per statement cycle to a 3rd party or to any of your other deposit accounts at Capital One, however, in their fine print they have noted that they are not currently enforcing this rule and will email clients if/when they choose to do so again.

There are also no limits set for the number of transfers that you may make into your account.

Capital One IRA Savings Account

Capital One offers a variable rate online savings account designed for your IRA (individual retirement account) or Roth IRA.

360 IRA Online Savings Rate

Minimum Deposit	Minimum Balance	APY
$0	$0	4.30%

APY = Annual Percentage Yield

If you don’t already have an IRA or Roth IRA with Capital One you will need to open one of these first. Navigate to the 360 IRA Online Savings page and click on the option suited for your needs.

Traditional IRAs and Roth IRAs have many differences. In a nutshell, contributions to Traditional IRAs may be done before taxes are withdrawn from your paycheck, and earnings within the account are then taxed once the funds are withdrawn (presumably, incrementally starting at retirement).

Roth IRA’s are basically the opposite in that contributions are made with your after-tax earnings, and withdrawals from the account upon retirement can be made tax-free.

You may want to consult with your tax advisor before coming to your final decision.

Capital One Kids Savings Account

These accounts are great for kids learning the value and discipline of saving money. You’ll have to have another account set up before opening the Kids Savings Account, but once you do, you’ll be able to schedule automatic allowance deposits and keep track of transactions.

Kids Savings Account Rate

Minimum Deposit	Minimum Balance	APY
$0	$0	0.30%

APY = Annual Percentage Yield

On top of the general features mentioned above, there are some neat savings tools for you and your kid(s) to use. For example, you can create individual accounts based on each of your kid’s savings goals so they can watch their money grow.

On the down side, this is one of Capital One’s deposit accounts that hasn’t seen its yield increase with the rising interest rate environment.

Capital One 360 Customer Sentiment & Reviews

Capital One has won several awards for their technology over the years and their ratings in the app stores are a testament to their user centric focus and commitment.

On IOS, they have a whopping 4.9 stars out of 5 based on over 7.5 million consumer ratings and on Android they have a still respectable 4.6 stars out of 5 with over 1.47 million reviews.

All 360 accounts can be managed 100 percent digitally through their mobile apps. Download the Apple app or Android app or simply use the online portal.

We should also note that although Capital One 360 is technically separate from its brick and mortar parent, the bank is not online-only, so customers of the digital bank can expect to have about the same level of access to customer service, branches, ATMs, etc. as customers of the traditional bank.

You can do everything you could possibly need to do with your money—from funding to withdrawals—entirely from your phone or computer, but maybe you’re someone that also wants to be able to walk into a branch or up to an ATM to manage your money too. Unlike many online banks, Capital One 360 lets you do that.

Though most banks and credit unions claim to care more about their customers’ satisfaction and well-being than anything else, few prove it to the extent that Capital One does. In fact, Capital One’s personalized customer support and “customer-centric culture” is so superior to the standard that Forbes published an article (since removed) about it. And for the most part, there are no major complaints against the bank worth noting.

To reach customer support, you can call 1-(877)-383-4802 for general help or track down the specific help center best suited to help you with a problem. For 360 support, call 1-(800)-289-1992 if you’re a new customer and 1-(888)-464-0727 if you’re an existing customer; both lines are available from 8 AM to 11 PM 7 days a week. You can also tweet @AskCapitalOne.

As a Capital One 360 customer, you will have access to over 39,000 surcharge-free ATMs and over 900 branches/cafes. Branches, however, can only be found in eight U.S. states, so accessibility could be considered limited for a bank but is still far better than most online-only institutions.

Capital One 360 Performance Savings FAQs

Still have questions about the Capital One 360 Performance Savings account? See what other consumers are asking around the web as well as our responses below.

Does Capital One 360 Have a Money Market Account?

No. At this time there is no money market account option in the Capital One 360 deposit account suite.

Is Capital One 360 Performance Savings a Good Option?

In terms of usability, you’ll be hard pressed to find another savings account with more highly rated mobile apps.

In terms of savings rates, Capital One doesn’t currently perform that well. Many online banks are now offering rates near or over 5.00% APY (annual percentage yield) following the Fed’s most recent rate hike.

What is the Routing Number for Capital One 360 Accounts?

The routing number for Capital One 360 deposit accounts is 031176110.

Discover Bank CD Rates – Now up to 5.00% APY

Written by: Lauren Graves

Fact Checked : Dan Nelson
Updated July 26, 2023

Ever since Sears first introduced the Discover Credit Card back in 1985, the Discover Bank brand has become a household name.

Although the bank is often associated with their popular credit cards, they also have a suite of FDIC-insured deposit accounts featuring annual percentage yields considerably above the current national average(s).

There deposit account offerings include:

a checking account
an online savings account
a money market account,
and 12 CDs (certificates of deposit) with terms ranging from 3 months to 10 years.

In this review we will just focus on Discover Bank’s CD accounts so if you’re in the market for a fixed-rate certificate of deposit with a competitive yield, then continue reading our review below.

Discover Bank CD Rates + Account Details

image credit: discover.com

Discover Bank CDs require a minimum deposit of $2,500 to open an account. All CD accounts are federally insured by the FDIC up to the applicable limits.

CD Rates

CD Term	APY
3 months	2.00%
6 months	3.40%
9 months	3.50%
12 months	4.85%
18 months	5.00%
24 months	4.30%
30 months	4.30%
3 years	4.30%
4 years	4.00%
5 years	4.00%
7 years	3.80%
10 years	3.80%

APY = Annual Percentage Yield

To put Discover Bank’s CD Rates in perspective, the current national average for a 12 month and a 60 month CD sit at just 1.72% APY and 1.37% APY, respectively, according to recent FDIC data.

That said, the best 12 month CD rates are now crossing the 5 percent mark while the top 5 year CDs are still above 4.50% APY.

How do Discover Bank CD Rates Compare?

If you’re curious to see how Discover Bank’s CD rates compare to other competitive offers from FDIC-insured online banks then take a look at the table below. This shows the highest CD rate offered from Discover Bank along with some of their competitors.

Bank	Best CD Rate (APY)
Barclays	5.00%
First Internet Bank	5.48%
My Banking Direct	5.15%
TIAA Bank	5.25%
Discover Bank	5.00%

CD rates surveyed on July 26, 2023.

How Much Can You Make with a Discover Bank CD?

The amount of money you can earn with a Discover Bank CD is going to depend on your deposit size, the CD term you select as well as its going APY (annual percentage yield). Take a look at the table below. It displays earnings from a handful of Discover Bank CDs assuming a deposit size of $10,000.

CD Term	APY	Earnings
6 months	3.40%	$168.58
12 months	4.85%	$485.00
18 months	5.00%	$759.30
5 years	4.00%	$2,166.53

Earnings = Sum of all interest payments made through maturity.

Grace Period and Early Withdrawal Fees

Upon the maturity of your Discover Bank CD, you will have a 9 day grace period in which you may modify your CD or close it out. If you need funds prior to this 9 day window, you will incur an early withdrawal fee. Those fees are shown below:

Early withdrawal fees:

CD Term	Penalty
less than 1 year	3 months simple interest
1 – 4 years	6 months simple interest
4 – 5 years	9 months simple interest
5 – 7 years	18 months simple interest
7 – 10 years	24 months simple interest

The only other fee you’ll need to be aware of is for outgoing wires. If you plan on moving any money out of the CD upon maturity you’ll incur a $30 fee per wire.

How do Discover Bank CD Rates Compare

Discover Bank typically offers higher CD rates than the major U.S. banks and competes with other online banks on rates.

That said, while Discover Bank was quick to offer better rates when the interest rate environment started to pick up last year, other banks and credit unions have begun to catch up.

Take a look at the tables below to compare Discover Bank’s CD rates with the big banks, popular online banks and a handful of competitive credit unions with nationwide acceptance.

Discover Bank CD Rates vs Big Banks

Bank	Min. Deposit	Best CD Rate
Discover Bank	$2,500	4.75%
Chase	$1,000	3.75%
Bank of America	$100,000	4.30%
Wells Fargo	$5,000	4.26%
Citibank	$500	4.30%

APY = Annual Percentage Yield

Discover Bank CD Rates vs Online Banks

Bank	Min. Deposit	Best CD Rate
Discover Bank	$2,500	4.75%
Ally Bank	none	5.00%
Capital One 360	none	4.30%
Synchrony Bank	none	5.00%
Marcus by Goldman Sachs	$500	5.05%

APY = Annual Percentage Yield

How Much Can You Earn with a Discover Bank CD

If you’re curious about how much you can earn with a Discover Bank CD, then take a look at the table below. We use a $10,000 deposit as an example.

CD Term	APY	Total Interest Earned
12 month	4.50%	$450
18 month	4.75%	$720.90
24 month	4.30%	$878.49
60 month	4.10%	$2225.13
120 month	4.10%	$4,945.39

APY = Annual Percentage Yield

How to Open a Discover Bank CD

Once you’ve found the right CD term for you, you can navigate to Discover Bank’s online CD page here and click the orange “Open an Account” button found at the top right of the page and directly in the center under the words “Lock in your future.”

When you begin the application process, you’ll want to have some personal information readily available. Be prepared with the following:

full name
home address
date of birth
phone number
Social Security number
employment status (employer and length of employment may be requested)
driver’s license, passport or other form of photo ID

After your application is completed and accepted you can fund the account.

Funding your Discover Bank CD

Upon completing the application you will have exactly 45 days to fund this account. The account can be funded in one of 4 ways. Here are the 4 ways in which you can fund your account:

Transfer funds from another bank account via an online transfer.
Transfer funds from another bank account via telephone. This function is only available for your initial transfer. Call 1-800-347-7000 to get started.
Download their mobile app from iTunes or the Google Play store and complete a mobile check deposit.
Make a check out to yourself and send it via snail mail to the following address: Discover Bank P.O. Box 30417 Salt Lake City, UT 84130

What Happens When Your CD Matures

Exactly 30 days prior to your Discover Bank CD maturing, Discover Bank will send you a notification making you aware of the date.

Upon maturity you will enter what is referred to as a grace period. As mentioned, the grace period with Discover Bank CDs is 9 days. During these 9 days you can make additional deposits, withdraw any interest or principal or change the term of your deposit. However, once you take any of the aforementioned actions, this will trigger the end of your grace period, even if the full 9 days are not up.

If you do nothing during the 9 day grace period your CD will automatically renew into the same CD term you had before with whatever current APY Discover Bank is offering on said term.

Earning Interest

You’ll start earning interest on your deposit the same day it is funded. The interest is compounded daily and returned to the deposit (or another Discover Bank account) once per month.

With the interest earned you can do one of two things:

The do nothing / default option places the interest back into the CD to compound until maturity.
If you’re living off of the interest as income, or for whatever reason want the interest to be accessible, you may have it transferred to another Discover bank account.

Consumer Sentiment + Customer Service

Discover’s performance as a bank is above average with user reviews hovering around 4 out of 5 stars on the top review sites.

The online institution simply has a reputation for being a stand-up company with total transparency. It is also known and respected for having a team of customer service representatives that are as helpful as they are speedy. User reviews reflect satisfaction with the bank, with only the occasional angry customer reporting excessively long transfer holds, unexpected account closures, and the like.

Likewise, the Discover apps are top-notch. With 4.1 million consumer ratings on the Apple store, the IOS app receives a 4.9 out of 5 star rating as of April 2023. It also receives a 4.7 out of 5 star rating on Google Play with over 281k reviews.

Discover has multiple phone lines devoted to various banking needs, and these are all open 24/7 year-round. To open or manage an account, call 1-800-347-7000. For online banking tech support, call 1-800-290-9885. For everything else, visit this page for the right number. Mail can be addressed to:

General Correspondence Discover Bank
P.O. Box 30416
Salt Lake City, UT 84130

Discover has only one branch (the bank’s headquarters in Delaware), but there is a sizable network of ATMs from which you can service your accounts at no cost.

Discover will allow you to make incoming or outgoing ACH transfers of up to $250,000 per month.

Discover Bank Certificates of Deposit Q & A

Still have questions about Discover Bank’s CD rates? Here are some of the common questions consumers have plus our responses below.

Are Discover Bank CDs FDIC insured?

Yes. Like all reputable online banks, Discover Bank is member FDIC (#5649) and all consumer deposits are federally insured up to $250,000 per depositor or $500,000 on joint accounts.

Are there better rates for Discover Bank AAA Members?

Yes. As of July 2023, you can earn 0.05% APY more than the standard CD rates listed above for most or all terms. You can learn more here.