Thursday, 3 December 2020

BB&T Reviews: Checking, Savings, CD and Money Market Accounts

BB&T Reviews: Checking, Savings, CD and Money Market Accounts
03 Nov
7:54

BB&T’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.01%

Savings

BB&T Regular Savings

1.90%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

0.10%

CD Rates

BB&T 360 Days CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

0.30%

CD Rates

BB&T 36 Months CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

0.30%

CD Rates

BB&T 60 Months CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

BB&T checking account options

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How BB&T’s checking accounts compare

If you are seeking a high interest rate, don’t even consider BB&T when you are looking for the best online checking accounts. The “competitive” interest rate on BB&T’s only interest-bearing checking account pales in comparison with the best rates available.

That said, both the student account and older adult accounts should be considered if you are in either of those age groups and you’re looking for a checking account with minimal fees, but willing to forego interest.

BB&T savings account options

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How BB&T’s savings accounts compare

BB&T’s savings accounts cover the basics. There is one for adults and one for children. Both offer interest; however, the rates are quite low when compared to the best online savings accounts. That being said, the bank’s accounts also do not require minimum balances — whereas some of the best online savings accounts do.

BB&T certificate of deposit rates

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How BB&T’s CD rates compare

In terms of pure yield, it’s a little difficult to compare the many products offered by BB&T to the best CD rates available. If we look at their basic promotional CD, even the highest APY offered is nothing in comparison to the best rates online.

However, if the consumer is looking for a CD as an investment vehicle to save for a specific need — first home, college education, etc. — then BB&T’s unique products are worth a look.

BB&T money market account options

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How BB&T’s money market accounts compare

Of BB&T’s money market accounts, only the High Performance Money Market Account is worth considering. As with all account consideration, you should compare these account with the best money market rates and other accounts’ balance requirements.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Holly Hammersmith

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Source: https://www.magnifymoney.com/blog/reviews/bbt/

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