Bask Bank and Ally Bank, for example, offer much higher yields. There are plenty of online savings accounts with much higher APYs than Truist’s savings accounts. Bankrate gave Truist 2.9 stars out of 5 for its savings products. Its APYs, however, are significantly lower than what many other banks offer. Truist has many brick-and-mortar locations as well as a robust online banking toolkit. How Truist compares with top-yielding banks Note: Annual percentage yields (APYs) shown are as of March 23, and may vary by region. The account’s $5 monthly fee is waived for account holders under age 18, when a minimum $300 daily balance is maintained, among other conditions or if you have a Truist checking account. A $50 minimum deposit is required to open the account. The Truist One Savings account is an option for short-term goals and everyday saving, such as for an emergency fund. Here’s a closer look at Truist’s savings account options and rates. Truist’s rates are lower than the national average, and much higher APYs can be found elsewhere, especially at online banks. The APYs offered on all of Truist’s savings products are the same, regardless of balance. In addition to the Online Savings account, Truist offers a standard Truist Savings account and a money market account that provide customers the flexibility of banking online and at a branch. Text banking, which customers can enroll in to check balances and see account activity via text messages. Paperless statements, accessible online or through the mobile app. Truist offers the latest digital services to make online banking seamless, including:Ī mobile banking app that allows you to transfer money between accounts, make payments and deposit checks. There are currently more than 2,100 Truist branch locations as of March 17, according to the Federal Deposit Insurance Corp. Since then, BB&T and SunTrust have gradually transitioned to the Truist name. Truist is the company formed from the merger of BB&T and SunTrust banks in 2019. Logo by Truist Financial Illustration by Hunter Newton/Bankrate
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