bank rates

BB&T Has Good Reason To Hide CD Rates

bb&t logoBB&T is one of those annoying big banks that doesn’t post its CD rates online.

You have to call or stop by one of its 1,800 branches, because CD specials and rates can differ in the 12 states Winston Salem, N.C.-based BB&T serves along with Washington, D.C.

Quite frankly, it’s a lot of hassle for little reward.

I called three branches, in Columbia, S.C.; Forth Worth, Texas; and Tampa, Fla.

Guess what? Same specials. Same rates.

And helpful, friendly people at each branch. That’s a nice thing, at least.

All offered a 13-month CD special that paid 0.30% APY with a $2,500 minimum deposit for clients with an Elite Gold checking account.

That just beats the average annual yield that large banks and thrifts offer for 12-month CDs this month, which is a new record-low 0.27%.

Unfortunately, BB&T’s special 13-month CD rate drops to 0.25% APY for savers with a basic checking account.

Standard-term rates are also disappointing. Not a one is above average:

0.03% APY for 3-month CDs versus an average rate of 0.12% APY. (Leaderboard leader is 0.65% APY.)

0.05% APY for 6-month CDs versus an average rate of 0.17% APY. (Leaderboard leader is 0.90% APY.)

0.15% APY for 12-month CDs versus an average rate of 0.27% APY. (Leaderboard leader is 1.05% APY.)

0.25% APY for 24-month CDs versus an average rate of 0.43% APY. (Leaderboard leader is 1.30% APY.)

0.45% APY for 36-month CDs versus an average rate of 0.54% APY. (Leaderboard leader is 1.40% APY.)

0.89% APY for 60-month CDs versus an average rate of 0.89% APY. (Leaderboard leader is 2.05% APY.)

As you can see, once again, our CD Rates Leaderboard is the way to go.

You can learn more about BB&T at or call 800-226-5228.

There are definitely better deals out there, and you’ll find them if you compare BB&T’s returns with the best CD rates from scores of other banks in our extensive database.

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