Franklin Synergy Bank Offers 2.10% APY 12-Month CD

Franklin Synergy Bank is offering a 2.10% APY 12-Month CD. That's currently the best 1 year cd rate according to the BestCashCow rate tables. We've had this listed on the rate tables for some time but haven't really called out the offer. The eCD as its called has a minimum investment of $1,000 and a maximum investment of $99,000 for each individual CD. Customers can open multiple CDs up to $500,000 per person.

I called and confirmed that accounts can only be opened online and are available nationally. Once the application is completed, you'll have to print and send back a signature card along with two forms of identification. Funding can be done via check or wire transfer. The rate locks when the application is received and the CD starts the day the funds are received.

Franklin Synergy Bank is a relatively new bank, started in 2007. The bank is located in Franklin, TN. As a result, it does not yet have a Bauer rating, It is FDIC insured. As of Sept 30, 2009, the bank had $237 million in assets, up from $131 million the year before.

Please share any experiences or questions regarding Franklin Synergy Bank below.