TRUSTCO hosts local events and grand openings throughout their communities. They are a patriotic bank that sponsors 4th of July events and baseball tournaments in New York and Florida.

They provide comprehensive banking services from saving, investment, mortgage, and small business lending. For the precise comprehensiveness, here is the quick overview stated next for the TrustCo CD Rates

TrustCo CD Rates Offers

The prominent CD offers by TrustCo are as follows;

180-364 Day CD

  • Interest Rate (APY): 0.05%
  • Minimum Deposit: $500
  • FDIC insurance covers deposits up to the maximum allowed by law.
  • Key Consideration: This term offers a relatively short commitment. It’s suitable for those looking for a quick return on their investment without locking funds for an extended period.

Pros & Cons

Short-term investment term.Low interest rate for longer investments.

12-17 Month CD

  • Interest Rate (APY): 1.50%
  • Minimum Deposit: $500
  • FDIC insurance is in place.
  • Key Consideration: The interest rate is considerably higher for this term, increasing the return potential.

Pros & Cons

Accessible with $500 minimum.Lower APY compared to other banks.

18-23 Month CD

  • Interest Rate (APY): 1.50%
  • Minimum Deposit: $500
  • FDIC insurance included.
  • Key Consideration: This term provides a stable 1.50% APY with a longer investment term.

Pros & Cons

Moderate APY.Interest rate is still relatively low.
Accessible with $500 minimum.Less flexibility compared to shorter terms.

How do TrustCo CD Rates Compare?

When comparing TrustCo CD rates to those offered by other financial institutions, it’s evident that TrustCo’s rates vary across different terms.

TrustCo’s CD rates shine with the 12-17 month option, as it provides a decent APY of 1.50%, along with a mid-range investment term. However, these rates are still much lower than many competitors.

Popular Direct, Bread Savings, and LendingClub, for instance, offer 12-month CDs with higher rates at 5.30%, 5.35%, and 5.15% APY, respectively.

Notably, Popular Direct requires a higher minimum deposit of $10,000, while Bread Savings and LendingClub have minimum deposits of $1,500 and $2,500, respectively.

Additionally, BMO Alto and Barclays present competitive rates at 5.25% and 5.00% APY for 6 and 12-month terms, respectively, with the advantage of not requiring a minimum deposit.

Quontic offers a 5.30% APY for a 12-month CD with a relatively low minimum deposit of $500. Therefore, when choosing a CD, investors should consider their preferred term length, minimum deposit capability, and the balance between interest rates and accessibility.

Overview TrustCo

TRUSTCO was started in 1902 in New York. Today they have over 145 branches throughout the East Coast of America. They have the slogan of “Your HomeTown Bank”.

They have a staff of qualified experts who provide financial advice to individuals, families, and small businesses to help promote financial wellness throughout their communities. TRUSTCO is a combination of the words “Trust Company”.

They are an affordable provider of high-quality financial products and services. In the early 2000’s the bank expanded to cover all of New York and some areas in Massachusetts, New Jersey, and Vermont. They now have 53 branches in Florida as well.

The philosophy of this bank is “old school”. By not falling for the latest banking trends and staying consistent throughout the years they have been able to grow their bank while others were failing. 

They now manage over $15.2 billion in assets and give back to their community regularly.

Throughout its hundred-year-old history, this bank has remained profitable and paid out interest to all shareholders, even when the country was in a state of financial emergency. It was rated as the 15th best savings bank by S&P Global Intelligence.

While they have stayed true to their traditional “hometown” roots, they have also made initiatives towards greener business practices since the early 2000s with “seed paper” and recyclable/reusable tote bags for their members.


To be eligible for a TRUSTCO CD special rate you must contact a branch and be an existing member. Start a checking or savings account with TRUSTCO to start investing using their CD and IRA options today. You can call, visit in person, or apply online.

Locations TrustCo

Branches in New York

TRUSTCO has 88 branches in New York, 53 branches in Florida, 4 branches in Massachusetts, 2 branches in New Jersey, and 1 in Vermont.

Frequently Asked Questions

What is the maximum amount covered by FDIC insurance for TrustCo Bank CDs?

TrustCo Bank provides FDIC insurance coverage up to the maximum amount allowed by law, typically $250,000 per depositor.

Can I withdraw funds from my TrustCo Bank CD before the maturity date?

Yes, you can withdraw funds from your TrustCo Bank CD before the maturity date, but it may be subject to early withdrawal penalties.

Are TrustCo Bank CD interest rates tiered based on the deposit amount?

No, TrustCo Bank CD interest rates are tiered based on the term length, not the deposit amount.

How can I access my TrustCo Bank CD account?

You can access your TrustCo Bank CD account through branches, online banking, and mobile banking platforms.

Does TrustCo Bank charge any fees for their CDs?

No, TrustCo Bank does not charge any fees for their CDs.