SunTrust Bank offers various types of savings accounts. $ 100 is the minimum opening balance deposit in all categories. The various types of savings account are listed below here.
Types of Savings Account:
- Personal Savings Account
- Certificate of Deposits
- SunTrust Advantage Money Market Account
- Live Solid Savings
It is the best option for starters. There is no maintenance fee for a low monthly balance. So, the starters can prefer this type.
Certificate of Deposits:
It has a high interest in rate. A fixed amount is invested for a fixed period of time in this category. So, the interest is high.
SunTrust Advantage Money Market Account:
There is an eligibility criterion for opening this account. To apply for this, the customer should hold a personal checking account. Annual Percent Yield variants for different balance ranges.
Live Solid Savings:
Automatic transfer is provided here. At the same time, the interest rate is also high.
Rate Comparison of Various Savings Account:
In Live Solid, 0.25% APY is provided. Moreover, a one-time bonus payment is allowed after 12 months. Money is charged if the minimum balance is not maintained or automatic transfer of $ 25 is not done. $ 4 is charged for monthly maintenance and excessive fee. Daily collected balance allowed is $ 1000.
In Personal Account, 0.05% APY is offered here. $ 4 is charged for monthly maintenance and excessive fee. Daily collected balance is $ 300.
In SunTrust Advantage Money Market, the rates are stated below here. 0.05% APY is provided for $ 0.01 to $ 9,999.99. 0.40% APY is offered for $ 250,000 to $ 1 Million.
Source by Divya Kannan