• Suntrust Bank 6 Month CD Rates: 0.50%: Compare 1 year rates in United States. Account Name Rate; BOI USA 1 Year CD Rate: 2.60%: Sallie Mae 1 Year CD Rates: 2.55%.
• SunTrust offers traditional CDs with terms ranging from 6 to 24 months. The interest rates on SunTrust CDs are very low when compared to CD interest rates and high-yield savings accounts offered.

Suntrust Bank 1 Year CD Rates: 2.00%. Suntrust Bank 6 Month CD Rates: 0.50%. Suntrust Bank Discussion. Q: what are the CD rates for Suntrust in.

• Competitive promotional interest rates
• Suite of bank accounts available

• High minimum deposit
• Low-earning rates outside of promotional CDs

• SunTrust customers who want to benefit from high-earning timed deposits

SunTrust offers certificate of deposit accounts ranging from six months to 2 years. This allows you to open a CD term for however long you’d like it to be within that range. You won’t find the rates for non-promotional terms online, however. You’ll need to call the bank to find the exact rates for these accounts. Unfortunately, these accounts offer relatively low rates.

You’ll do best to open a SunTrust CD with Promotional Rates. Note that you will have to deposit at least $2,000 to open a SunTrust CD account. This may be a high amount for many, but a higher balance does earn more in interest than a smaller balance.

6-Month CD Interest Rate Comparison

Overview of SunTrust CDs

SunTrust offers a huge range of CD terms overall with the shortest term at six months and the longest available term at 2 years. However, you’ll want to focus most on the Promotional CDs listed above. Those have the best CD rates that SunTrust offers. For example, if you want to open a six-month account, you’ll earn at only a 0.05% APY. If you’re looking for a shorter-term, perhaps a simple savings account or money market account with a higher interest rate would work better for you. Those accounts allow much more flexibility in accessing your money, too.

CDs are meant to be held to maturity without any extra deposits or withdrawals. Once a SunTrust CD reaches maturity, it will automatically renew for the same term length and the published rate at the time of renewal. If you don’t want it to renew, you can withdraw some or all of the amount in the account or make an additional deposit.

If you desperately need to make a withdrawal from a CD before its maturity date, you’ll likely face a penalty. For starters, if you have a CD up to 31 days long, you’ll have to forfeit the equivalent of seven days’ interest. Accounts from one to six months assess a penalty equivalent to six months’ interest. Early withdrawals from an account of six to 12 months penalize the equivalent amount of nine months’ interest. The penalty equals 12 months’ interest on accounts between 12 and 24 months, 24 months’ interest on accounts between 24 and 60 months and 6 months’ interest on accounts longer than 60 months.

How Much You Earn With SunTrust Certificate of Deposits Over Time

You stand to earn much more with a longer-term SunTrust Promotional CD. Even with a promotional rate, the 6-month CD earns a few dollars over the term no matter what your initial deposit is. Any promotional terms longer than that, however, offer some great growth as you can see below.

SunTrust compounds CD interest daily. This grows your money more efficiently than compounding weekly, for example. With daily compounding, your initial deposit will earn interest today, and then tomorrow that new amount (your deposit plus interest earned) will earn interest again and so on until the account matures.

The amounts given below represent what your final balance would look like with the given accounts and initial deposits.

How SunTrust CDs Rates Compare to Other Banks'

If you wanted to open a regular SunTrust CD, you wouldn’t get any standout rates or earnings. Instead, consider opening a Promotional CD, the accounts with higher-earning rates. That way, you can make more out of your initial deposit.

SunTrust’s Promotional CD rates fall somewhere in between the low rates of big banks (like Chase) and the best CD rates from online banks. Its closest competitor in terms of rates is HSBC. HSBC offers only the three terms shown below, although each has a pretty high rate. Plus, HSBC requires a lower initial deposit amount of $1,000.

For even higher CD rates, you’ll want to turn to online banks like Ally and Marcus by Goldman Sachs. Ally is hugely beneficial since it does not require a minimum deposit. This allows you to set aside whatever amount you feel comfortable with. Ally High Yield CDs earn according to balance tiers which means a higher balance can earn at a higher rate. The Ally rates below are for the lowest tiers.

Marcus offers higher rates across all balances, although you need at least $500 to open a CD account.

Compare SunTrust Bank to Other Competitive Offers

Should You Get a SunTrust CD Account?

You should consider getting a SunTrust CD account if you’re already a customer with the bank. This will make it much easier for you to contact the bank about its CD accounts and rates, whether at a branch or over the phone. Otherwise, you might have difficulty learning about the various rates offered for non-Promotional CDs.

If you decide that you do want to open a SunTrust CD, you should strongly consider a Promotional CD. These accounts offer much better rates which make your deposit and the hassle of opening an account much more worthwhile.

SunTrust Bank operates more than 1,400 bank branches across the southwestern United States. This Atlanta-based bank got its start in 1890 and continues to serve clients with a clear mission statement — “Lighting the way to financial well-being.”

SunTrust Bank offers a range of consumer client services with a significant focus on wealth management, growth and long-term investment planning. Interest rates for SunTrust’s offerings are on par with other brick-and-mortar banks but fall behind its online competition.

As a primarily regional bank, SunTrust offers benefits for clients living in and around its service area, but its web presence may lack some of the functionality and ease-of-use delivered by online only banks.

SunTrust at a glance

Pros

• Historical legacy of financial expertise and wealth management
• Focus on long-term investment growth
• Variety of accounts to match personal needs

Cons

• Branches primarily in the Southwest
• Lower-than-average interest rates
• Mixed reviews about in-person service

What’s interesting about SunTrust

SunTrust’s regional focus allows its advisers to better understand local market trends and make wealth management recommendations that help grow client savings. The bank is also committed to reducing customers’ financial stress with its onUp Movement, which offers advice and strategies to improve financial confidence.

As one of the country’s largest and longest-running regional banks, SunTrust is able to offer competitive interest rates compared to other brick-and-mortar banks and provide a wide variety of accounts to help clients find their best fit.

Things to consider

Lacking a physical presence outside the Southwest, SunTrust Bank struggles to compete online with web-based financial institutions. In addition, their in-branch customer service has mixed reviews across multiple websites. Finally, the bank is currently in the process of merging with BB&T to create a new banking brand, Truist, which may impact long-term operations.

Checking & savings accounts

SunTrust Bank offers three checking account types: Advantage Checking, Essential Checking, and Balanced Checking. Of these three, only the Advantage Checking account is the only one that earns interest on your balance. This interest rate is somewhat lower than comparable brick-and-mortar banks. SunTrust does offer an online questionnaire to help find the best fit for your checking account needs.

Advantage Checking: This account requires a $100 balance to open and offers varying amounts of “Loyalty Cash Bonus” when linked with a SunTrust credit card that adds cash back into your checking account. With more than $3,000 worth of qualifying monthly deposits or a linked SunTrust credit card, this account has no monthly fee.

• Essential Checking: Again, a $100 balance is required to open this account. No interest is accrued, but with $500 worth of deposits or a $500 daily balance, there is no monthly fee. You also receive a “starter pack” of 10 free checks, and students enjoy no monthly maintenance fees for the first five years.
• Balanced Checking: $100 lets you open this account, which is designed to limit overdraft spending and manage checking balances. With a combined daily balance of more than $3,000 across checking, savings, money market and CDs, this account has no fee and also includes a reduced item return fee.

SunTrust also offers two types of savings accounts: Essential Savings and Select Savings.

• Essential Savings: This account requires no minimum balance and has no monthly maintenance fee. Deposits are insured to the FDIC legal limit, and the account comes with free identity theft protection. This account generates no interest and incurs a fee after six withdrawal or balance transfer transactions.
• Select Savings: This account requires a $100 minimum balance and earns interest tied to tiers based on the amount of money in your account. Interest rates are somewhat below similar banks. You also receive a 1% “anniversary bonus” of up to $25 when linked with a qualified checking account.

Money market accounts

SunTrust’s money market accounts require a $100 minimum balance to open and use a tiered interest system. Interest earned is slightly lower than
comparable banks. This account does offer limited check-writing privileges and provides easy online access to account balances and transfer options.

CDs

SunTrust Bank offers two CDs: Personal and Advantage.

Personal CDs require a $2,000 minimum deposit and offer tiered interest, with terms ranging from seven days to 10 years to fit your needs. SunTrust also offers a 12-month special rate which is comparable to other banks. The remainder of its CD interest rates are slightly below average.

Advantage CDs include higher interest rates, one penalty-free withdrawal per term and the ability to increase the CD principal during your term to generate additional interest. Advantage CDs require monthly auto-transfers of at least $50 to maintain higher interest rate offers.

Credit cards

SunTrust offers three Mastercard options: Cash Rewards Credit Card, Travel Rewards Credit Card and Prime Rewards Credit Card.

• Cash Rewards Credit Card: This card offers 5% cash back on gas and grocery purchases up to $6,000 in the first 12 months. It also includes 0.0% introductory APR for 15 months and offers interest rates that are lower than comparable cards. In addition, cardholders receive 2% unlimited cash back on grocery and gas purchases and % on all other purchases after the promotional period ends. This card has no annual fee.
• Travel Rewards Credit Card: After spending $3,000 in qualifying purchases in the first three months after opening this account, cardholders receive $250 in statement credit. A promotional 0.0% APR is offered for 15 months and better-than-average interest rates are offered thereafter. Along with 1% cash back on qualifying purchases and 2% back on qualified dining purchases, cardholders receive 3% unlimited cash back on all eligible travel purchases. This card has no annual fee for the first year.
• Prime Rewards Credit Card: This card offers $100 in statement credit after spending $500 on qualifying purchases in the first three months. Cardholders receive three years of prime rate interest followed by variable interest rates that are slightly lower than average. There is no monthly fee for this card and you receive 1% unlimited cash back on all qualifying purchases.

Personal loans

SunTrust’s lending arm, LightStream, offers unsecured personal loans for almost any need. Fertility treatments, home renovations and improvements, debt consolidation, and more are all covered under a LightStream unsecured loan. Customers can borrow from $5,000 to $100,000 from LightStream with reasonable interest rates and experience same-day funding. Furthermore, there’s a 0.50% rate discount when you sign up for automatic payments and if you’re not completely satisfied with your loan experience, LightStream will refund you $100.

Mortgage loans

SunTrust has created a proprietary mortgage mobile app, SmartGUIDE, to help customers find and fund the home of their dreams. With SunTrust’s mortgages, there’s no origination fee, but do expect lender’s fees, usually around 1 point. But 30- and 15-year fixed mortgages have interest rates below 4% as long as you have a decent credit score of 660 and above.

Mortgage refinancing

Suntrust Cd Rates In North Carolina

SunTrust offers mortgage refinancing products to customers and it says it saves people an average of $314 per month by doing so. There are no closing costs for SunTrust’s mortgage refinancing products, and it offers several different products and rates to choose from.

Home equity loans & HELOCs

This bank offers home equity lines of credit with a special variable rate that’s currently calculated at prime minus 1.51% on initial advances of $25,000 or more at closing. That takes the current rate down to 3.24% for 12 months, which is a pretty sweet deal. If you’d rather have a fixed standard rate on your HELOC, SunTrust offers that option too, with rates that start at 4.50% APR. You can borrow as little as $10,000 or as much as $500,000 depending on your needs and the amount of equity in your home.

Car loans

Through LightStream, SunTrust also has auto financing products. Customers can expect a 0.50% interest rate discount with setting up automatic payments and another 0.10% if you show a better offer from another competitor. Interest rates are average, so LightStream makes up for it with excellent customer satisfaction and fast funding on loans.

Suntrust Cd Rates Interest Rates

The final word

Suntrust Cd Rates May 2020

SunTrust Bank offers regional expertise for clients looking to improve their investment strategies and reduce their stress around financial management. For customers who may prefer more robust online options or higher-than-average interest rates, SunTrust is likely not be the best fit. However, its lending arm, LightStream, offers great products for loans, especially for car loans and refinancing.