Current Deposit Rates at Trustco Bank
At Trustco Bank, we believe your money should work as hard as you do. Whether you’re looking for a competitive CD rate, building your savings, managing everyday expenses through a checking account, or earning more with a money market, our deposit products are designed with your financial goals in mind.
All deposit accounts are FDIC-insured and available at any of our branches across New York, Florida, Massachusetts, New Jersey, and Vermont — or you can open most accounts online. Rates are reviewed regularly, so check back often or visit your neighborhood branch for the latest APYs.
Frequently Asked Questions About Trustco Bank Deposit Rates
We review and update our deposit rates on a regular basis. Rates can change weekly, so we recommend checking this page often or visiting your neighborhood branch for the most current APYs.
APY stands for Annual Percentage Yield. It reflects the total amount of interest you earn on a deposit over one year, including the effects of compounding. APY gives you a more complete picture of your earnings than the interest rate alone, making it easier to compare deposit products.
Yes. All deposit accounts at Trustco Bank — including CDs, checking, savings, and money market accounts — are insured by the Federal Deposit Insurance Corporation (FDIC) up to the standard maximum of $250,000 per depositor, per insured bank, for each account ownership category.
Most Trustco Bank deposit accounts can be opened online or in person at any of our branches across New York, Florida, Massachusetts, New Jersey, and Vermont. A few products, such as the Home Town Passbook Savings, Rainy Day Fund, and Home Town BankOn, are available exclusively in person.
Before your maturity date, you will receive a renewal notice in the mail. You have a 10-day grace period after maturity to select a different term, deposit additional funds, or withdraw your money. If no action is taken, your CD will automatically renew for the same term at the current rate of interest.
Both account types help you earn interest on your deposits. A money market account typically offers higher tiered rates for larger balances and includes the added flexibility of check-writing and debit card access. Savings accounts generally have lower minimum balance requirements and are a great starting point for building your emergency fund.
Yes. Promotional deposit products at Trustco Bank — including the Home Town Investment Checking Promo, Home Town Savings Promo, and Money Market Account Promo — require new money, meaning funds must come from a source other than Trustco Bank. After the introductory period, the account transitions to a variable rate based on current standard rates.
Our Pick Your Term CD gives you the flexibility to choose any term length, all at one competitive APY. This allows you to align your CD maturity date with a specific financial goal. Availability and rates may vary, so ask your branch manager for current details.
The minimum deposit required to open an account at Trustco Bank depends on the account type.
- Checking Account (Free, Premier, Investment) — $50 minimum to open
- BankOn — $25 minimum to open
- Money Market Account — $2,500 minimum to open
- Certificate of Deposit (CD) — $500 minimum to open
Rates and terms may vary. Contact your local Trustco Bank branch or visit trustcobank.com for the most current information.
Open a Deposit Account With Trustco Bank
Ready to start earning on your deposits? Opening an account at Trustco Bank is simple. You can apply online, or visit any of our branches across New York, Florida, Massachusetts, New Jersey, and Vermont. Our team is here to help you find the right account for your needs.
Here for you for over 120 years. Come home to Trustco, your Home Town Bank.
Disclaimer:
(1) Annual Percentage Yield (APY). A minimum deposit of $500.00 is required to open a Certificate of Deposit. The Daily minimum balance requirement to achieve APY is $500. Interest is accrued daily and credited monthly. Substantial penalty for early withdrawal. Fees may reduce earnings.
(2) Annual Percentage Yield (APY). A minimum deposit of $10,000 of money not on deposit at Trustco Bank is required to open this Certificate of Deposit. Offer is available in-branch only. The Daily minimum balance requirement to achieve APY is $10,000 Interest is accrued daily and credited monthly. Substantial penalty for early withdrawal. Fees may reduce earnings.
(3) The minimum balance requirement to open an account is $50 and the minimum balance requirement to achieve Promotional Interest Rate is $20,000. This offer applies to new money only. Funds must come from a source other than Trustco Bank. The introductory rate will apply for the first 3 months after the account is opened. After 3 months, this becomes a variable rate account based on current rates and levels. The Interest Rate is shown for each balance range. Rates subject to change at any time. $200 minimum balance required to avoid monthly charge of $5.00. Fees may reduce earnings.
(4) A minimum deposit of $50.00 is required to open a Home Town Passbook and Statement Savings Account, and you must keep a $200.00 Daily minimum available balance to avoid a monthly service charge and earn interest. Rate may change after account is opened. $200 minimum balance required to avoid monthly charge of $5.00. Fees may reduce earnings.
(5) A minimum deposit of $20,000 is required to open a Home Town Investment Checking account to receive promotional APY. $25 monthly service charge. After 3 statement cycles this becomes a variable rate account based on the current investment checking Interest Rate. Monthly service charge is waived if there is a reoccurring direct deposit of payroll, retirement, or a social security income or a monthly average collected balance of $20,000. Interest paid on balances of collected daily balance of $20,000.00 or more. Daily interest earnings are accrued without compounding, and deposited to the account on a monthly basis. Rate may changed after account is opened. Fees may reduce earnings.
(6) A minimum deposit of $50.00 is required to open a Home Town Investment Checking account. $25 monthly service charge. Monthly service charge is waived if there is a reoccurring direct deposit of payroll, retirement, or a social security income or a monthly average collected balance of $20,000. Interest paid on balances of collected daily balance of $20,000.00 or more. Daily interest earnings are accrued without compounding, and deposited to the account on a monthly basis. Rate may change after account is opened. Fees may reduce earnings.
(7) A minimum deposit of $50.00 is required to open a Home Town Premier Checking account, a Daily minimum collected balance of $500.00 is required to earn interest. Monthly average collected balance of $500.00 or reoccurring direct deposit of payroll, retirement, or social security income is required to avoid $5.00 monthly service fee. Rate may change after account is opened. Fees may reduce earnings.
(8) A minimum deposit of $50.00 is required to open a Home Town Free Checking account.
(9) A minimum deposit of $50.00 is required to open a Home Town Student Checking account.
(10) A minimum deposit of $15,000 is required to open a Money Market Account to receive Introductory Interest Rates. This offer applies to new money only. Funds must come from a source other than Trustco Bank. The introductory rate will apply for the first 3 months after the account is opened. After 3 statement cycles this becomes a variable rate account based on current money market rates and levels listed above. The Interest Rate is shown for each balance range. A Daily minimum statement balance of $2,500.00 is required to avoid a monthly service charge of $10.00. Rate may change after account is opened. Monthly service charges or fees could reduce earnings. Interest is calculated using the collected balance and interest earnings are accrued without compounding and deposited monthly.
(11) A minimum deposit of $2,500 is required to open a Money Market Account. A Daily minimum statement balance of $2,500.00 is required to avoid a monthly service charge of $10.00. Rate may change after account is opened. Monthly service charges or fees could reduce earnings. Interest is calculated using the collected balance and interest earnings are accrued without compounding and deposited monthly. Please note: We reserve the right to alter or withdraw this product or certain features thereof without prior notification. Rates listed are for the branches in the vicinity of the zip code entered.
