Measurements of the defect levels and performance testing of CdZnTe detectors were performed by means of Current Deep Level Transient Spectroscopy (I-DLTS), Transient Charge Technique (TCT), Current versus Voltage measurements (I–V), and gamma-ray spectroscopy. CdZnTe crystals were acquired from different commercial vendors and characterized for their point defects. I-DLTS studies included measurements of defect parameters such as energy levels in the band gap, carrier capture cross sections, and defect densities. The induced current due to laser-generated carriers was measured using TCT. The data were used to determine the transport properties of the detectors under study. A good correlation was found between the point defects in the detectors and their performance.