Truist Bank Review: APYs, Fees & Who It's Best For in 2026

As one of the ten largest commercial banks in the United States, Truist offers a massive range of financial products and a substantial branch network across the Southeast and Mid-Atlantic. Formed from the 2019 "merger of equals" between BB&T and SunTrust, Truist aims to provide a full-service banking relationship, from basic checking accounts to wealth management and insurance. While it delivers on the promise of a one-stop financial shop, customers looking for the highest yields on their cash will find its deposit account rates significantly lag behind online-only competitors.

Is Truist Bank safe?

Yes, Truist Bank is considered a very safe and stable financial institution for several key reasons. As a top-10 U.S. bank by asset size, it is subject to the highest levels of regulatory scrutiny from multiple government agencies.

The bank's parent company, Truist Financial Corporation, is a publicly traded entity (NYSE: TFC) with a market capitalization in the tens of billions of dollars. Its financial health and stability are continuously monitored by investors, market analysts, and federal regulators.

Truist's primary regulators include the Office of the Comptroller of the Currency (OCC), which supervises national banks, and the Federal Reserve, which oversees large and systemically important financial institutions. This enhanced supervision from the Fed means that Truist is required to undergo regular, rigorous "stress tests" to ensure it has enough capital to withstand severe economic downturns. This robust regulatory framework, combined with its substantial assets and federal deposit insurance, makes Truist a secure place for your deposits.

Is Truist Bank FDIC insured?

Yes, Truist Bank is a member of the Federal Deposit Insurance Corporation (FDIC). This means that deposits held at Truist are federally insured against bank failure.

• FDIC Certificate #: 9846
• Coverage Limits: The standard FDIC insurance limit is $250,000 per depositor, per insured bank, for each account ownership category. This means an individual can have up to $250,000 insured in their personal accounts, and an additional $250,000 insured in joint accounts (per co-owner), and so on for other categories like trusts.
• Verification: You can verify Truist Bank's FDIC insurance status at any time by using the FDIC's official BankFind tool.

The combination of being a large, systemically important bank and having full FDIC insurance on its deposit accounts provides customers with multiple layers of protection for their money.

Truist Bank savings & checking accounts

Truist offers an integrated checking and savings solution designed to reward customers for deeper banking relationships. However, the interest rates paid on these deposit accounts are exceptionally low, falling far short of what's available at online banks. The primary value proposition is convenience and relationship benefits, not yield.

Truist One Checking is the bank's flagship checking account. It operates on a tiered system with five benefit levels, starting at Level 1 and going up to Level 4, plus a "Delta SkyMiles & Truist" level. Your level is determined by your total monthly average balance across all your eligible Truist deposit and investment accounts.

• Monthly Fee: $12, which can be waived in several ways:
• Key Features: Higher benefit levels unlock perks like waived fees on other products, bonus rewards on credit cards, and a "buffer" for avoiding overdrafts on transactions of $100 or less (for Levels 2 and up).

Truist One Savings is a basic savings account designed to be linked to your Truist checking account.

• APY: As of early 2026, the standard APY was a negligible 0.01% for all balance tiers. This rate is far from competitive and means your money will lose purchasing power over time due to inflation. According to Truist's account disclosures, there are no relationship-based rate increases on this specific account, making it a poor choice for growing your savings.
• Monthly Fee: $5, which can be waived by:

While the fees on these accounts are relatively easy to waive, the extremely low savings APY is a significant drawback. For comparison, here is how Truist's standard savings account stacks up against leading online banks in early 2026.

As the table clearly shows, a customer holding $25,000 in savings for one year would earn approximately $2.50 in interest at Truist, compared to over $1,000 at Ally, SoFi, or Capital One 360.

Truist Bank CD rates in 2026

Truist offers Certificates of Deposit (CDs) with a range of terms, providing a way for customers to lock in a fixed interest rate for a set period. While the APYs on Truist's standard CDs are generally higher than its savings account, they are only moderately competitive when compared to national averages and are typically much lower than rates offered by leading online banks.

To open a Truist CD, you generally need a minimum deposit of $1,000 for terms under two years and $2,500 for terms of two years or longer, according to the bank's website. Truist occasionally offers promotional CD rates on specific terms that can be more competitive, so it's worth checking for these specials if you are an existing customer.

Like all CDs, there is a penalty for withdrawing your funds before the maturity date. At Truist, the penalty depends on the term of the CD. For example, for a 12-month CD, the penalty might be equivalent to three months of interest. You should always confirm the specific early withdrawal penalty in the account disclosure before opening a CD. You can find detailed fee and product information on the official Truist Bank website.

Below is a comparison of projected standard CD rates from Truist in early 2026 versus the national average rates published by the FDIC during the same period.

While Truist's rates do outperform the FDIC national averages, which include many low-rate offers from traditional banks across the country, they are not market-leading. Top online banks in early 2026 were commonly offering CD rates well over 4.00% APY for similar terms. A Truist CD may be convenient for existing customers who want to keep all their funds at one institution, but savers prioritizing the highest possible return should look elsewhere.

What Truist Bank is missing

Despite its enormous size and comprehensive product catalog, Truist has several notable gaps and trade-offs, particularly when compared to more modern, digital-focused banks.

• High-Yield Savings Accounts: This is by far the biggest missing piece. Truist does not offer a truly competitive high-yield savings account (HYSA). With an APY of just 0.01%, its standard savings account fails as a wealth-building tool. The opportunity cost is immense; savers lose out on hundreds or even thousands of dollars in potential interest earnings a year by keeping large cash balances at Truist instead of an online HYSA.
• Nationwide Branch Network: While Truist operates over 2,000 branches and thousands of ATMs, its physical presence is heavily concentrated in 17 states, primarily in the Southeast and Mid-Atlantic regions. If you live in New England, the Midwest, or on the West Coast, you will not have access to in-person banking services, making Truist a less practical choice.
• Truly Fee-Free Banking: Truist's core checking and savings accounts come with monthly maintenance fees. Although these fees can be waived by meeting certain direct deposit or balance requirements, they represent a hurdle that doesn't exist at many top online banks. Customers who can't consistently meet the waiver criteria may find themselves paying for basic account access.
• Cutting-Edge Digital Experience: While the Truist mobile app is functional and includes all the standard features like mobile check deposit, bill pay, and Zelle transfers, it can sometimes feel less intuitive and slower than the slick, user-friendly apps from fintech-savvy competitors like SoFi or Chime. The technological integration following the BB&T and SunTrust merger has been a massive undertaking and resulted in some well-documented customer service issues, though these have largely smoothed out by 2026.
• Best-in-Class Rates Anywhere: Beyond savings accounts, Truist's rates on CDs, money market accounts, and even some loans are often not the most competitive on the market. The bank's business model relies on attracting and retaining customers through its full-service relationship banking and branch convenience, not by leading with the best rates.

Who is Truist Bank best for?

Truist is an excellent choice for a specific type of customer who values convenience, product variety, and physical branches over maximizing interest earnings. It is best for:

• Residents of the Southeast and Mid-Atlantic who want frequent access to in-person banking services for deposits, withdrawals, and financial advice.
• Customers seeking a "one-stop shop" financial relationship. If you want your checking, savings, credit card, mortgage, auto loan, and investment accounts all under one roof, Truist's extensive ecosystem is a major advantage.
• High-balance individuals and families. Customers who can maintain high combined balances (e.g., $100,000+) across their Truist accounts can unlock the highest relationship tiers, leading to waived fees, better loan rates, and other premium perks.
• Small business owners who appreciate the convenience of having their personal and business banking at the same institution, with access to business-specific loans and services.

On the other hand, Truist is likely not the right bank for you if you're a rate-conscious saver. Anyone whose primary goal is to earn the highest possible return on their cash should open a high-yield savings account at an online bank like Ally, SoFi, or Marcus. Similarly, individuals who live outside of Truist's geographic footprint or who prefer a simple, streamlined banking experience with no fees or minimum balance requirements to worry about will find better options elsewhere.

The bottom line

Truist Bank stands as a modern financial giant, offering a powerful and convenient all-in-one banking solution for customers within its large regional footprint. Its strengths lie in its vast product suite, extensive branch network, and relationship-based benefits. However, this convenience comes at the significant cost of extremely low interest rates on its savings products, making it a poor choice for anyone looking to grow their cash reserves.

Rates and product terms shown reflect publicly available information at the time of our 2026 review and can change at any time. Always confirm current APYs and fees directly with the bank before opening an account.