Dedicated to Deposits: Deals, Data, and Discussion

4.25% 6-Month CD at Trustco Bank in Florida


TrustCo Bank
Trustco Bank is offering a special 4.25% APY 6-month CD. The minimum deposit is $500, and a checking account is required. This CD rate is only for Florida. The 6-month special rate is only 3.05% APY in the Capital region of New York and 3.90% APY in Massachusetts. Please refer to the bank's rate table for your local rates. This CD special is also available in an IRA.

The free checking account will qualify you for this special, and it does not require direct deposit. So it's not too bad of a requirement. The free checking account has a minimum $25 opening deposit, has no monthly service charge and offers free checks for life.

$75 Checking Bonus: Trustco continues to have a checking account promotion in which you can earn a $75 gas card for opening a checking account with direct deposit.

Branches are located in Florida, New York, New Jersey, Vermont and Massachusetts.

Trustco Bank has some decent financial ratings for soundness: 4 stars (sound) at and 4 stars (excellent) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1978 (FDIC Certificate # 31945).

  Tags: CD rates, IRA rates, checking account, TrustCo Bank, Florida

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Comment #1 by Anonymous posted on
The rate is 3.90% for the six month CD in New York/New Jersey.

Comment #2 by Eric Buda (anonymous) posted on
Eric Buda
Be VERY VERY careful with trustco bank. I am in the Albany, NY area and I attempted to work this promo last year. They would not honor it because they thought my continual $5.00 direct deposits into my new account from my payroll check were "trial deposits".

Trustco had no wordiing in the fine print about deposit amounts to make the promo valid. Attempting to reach anyone in customer service was a nightmare and the local branch manager was rotating on a weekly basis.

Trustco will NEVER hold any of my accounts ever again and I would NEVER recommend their services.

These guys are bad news and they are losing major market share here in Albany to the likes of Citizens, and HSBC.

And as far as their 3.90% CD... you can have a LIQUID (FDIC insured) savings account right now with WaMu @ 4.00%

Comment #3 by Anonymous posted on
LOL at your 'liquid' 4% savings account with WaMu. How is that working out for you?

Comment #4 by livesimply (anonymous) posted on
I wish I had read Eric's experience before! I was told by the weekly manager at Trustco that they did not have the rules and regs available in print, but that if I transferred my direct deposit back to Trustco from SEFCU, that they would honor this action with the gas card promotion. It is now 12/30/08 and I have been waiting since 10/31/08. Each time I go into speak with a branch manager, it is a different person and a waste of my time as they simply call corporate and leave a message. When I call corporate, they either transfer me to a branch or tell me that they will look into. Today I finally got a message on my machine from corporate stating that I DID NOT QUALIFY for the promotion that the manager had told me I would qualify for. Now, I will be looking for a better bank while I wait FOREVER for a letter from them acknowledging this decision. THEY REFUSE TO PUT ANYTHING IN WRITING! TRUSTCO is managed VERY POORLY. Dealing with them is like going through a time share presentation without the lodging!

Comment #5 by Anonymous posted on
I am dealing with a trustco bank in downtown, saratoga springs, NY.  I opened a CD account & the manager refused to give me a copy of the application which I had signed.  I am sending a certified letter to the main branch in schnectady,NY