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Tennessee Savings Rates

If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!

TN - February 6, 2016

Savings Account National Average Rate: 0.12% ?

BANKS APY Vs. Nat'l Av. MIN MILES ?
Independent Bank 1.25% 10.25x $100 -
First Jackson Bank, Inc. 0.88% 7.21x $25,000 -
Peoples State Bank of Commerce 0.83% 6.80x $2,500 -
Peoples State Bank of Commerce 0.50% 4.10x $1 -
Farmers Bank and Trust Company 0.45% 3.69x $10,000 -
Farmer's and Merchants Bank 0.40% 3.28x $2,500 -
American Patriot Bank 0.40% 3.28x $25,000 -
First Jackson Bank, Inc. 0.40% 3.28x $1 -
Farmers Bank and Trust Company 0.40% 3.28x $5,000 -
Citizens Bank 0.40% 3.28x $10,000 -
Bank of Halls 0.40% 3.28x $25,000 -
People's Bank and Trust Company of Pickett County 0.40% 3.28x $10,000 -
CapStar Bank 0.40% 3.28x $25,000 -
SmartBank 0.40% 3.28x $50 -
Bank of Crockett 0.40% 3.28x $50 -
Foothills Bank & Trust 0.40% 3.28x $100 -
The Lauderdale County Bank 0.37% 3.03x $10,000 -
American Patriot Bank 0.35% 2.87x $10,000 -
Legends Bank 0.35% 2.87x $1 -
Franklin Synergy Bank 0.35% 2.87x $500 -
Evolve Bank & Trust 0.35% 2.87x $10,000 -
Citizens Bank of Lafayette 0.35% 2.87x $25,000 -
Traditions First Bank 0.35% 2.87x $25,000 -
Reelfoot Bank 0.35% 2.87x $100 -
First Freedom Bank 0.35% 2.87x $10,000 -
Bank of Ripley 0.35% 2.87x $25,000 -
First South Bank 0.35% 2.87x $25,001 -
The Farmers & Merchants Bank 0.35% 2.87x $1 -
Security Federal Bank 0.32% 2.62x $100 -
American Trust Bank of East Tennessee 0.31% 2.54x $1 -
Homeland Community Bank 0.30% 2.46x $1,000 -
Union Bank & Trust Company 0.30% 2.46x $10 -
First Commerce Bank 0.30% 2.46x $10,000 -
Civic Bank & Trust 0.30% 2.46x $25,000 -
People's Bank and Trust Company of Pickett County 0.30% 2.46x $1,000 -
Citizens Bank 0.30% 2.46x $10,000 -
The Farmers Bank 0.30% 2.46x $15,000 -
Farmers Bank and Trust Company 0.30% 2.46x $100 -
Southern Community Bank 0.30% 2.46x $25,000 -
Security Federal Bank 0.30% 2.46x $2,500 -
First Peoples Bank of Tennessee 0.30% 2.46x $2,500 -
Bank of Lincoln County 0.30% 2.46x $25,000 -
Citizens Bank 0.30% 2.46x $1 -
Bank of Halls 0.30% 2.46x $100 -
Wilson Bank and Trust 0.30% 2.46x $10,000 -
Sevier County Bank 0.30% 2.46x $25,000 -
Community Bank 0.29% 2.38x $25,000 -
Security Federal Savings Bank of McMinnville 0.26% 2.13x $1 -
First Alliance Bank 0.26% 2.13x $25,000 -
Triumph Bank 0.26% 2.13x $25,000 -
The Lauderdale County Bank 0.25% 2.05x $1 -
Citizens National Bank 0.25% 2.05x $25,000 -
First Advantage Bank 0.25% 2.05x $25,000 -
Carroll Bank and Trust 0.25% 2.05x $25,000 -
Cumberland Bank and Trust 0.25% 2.05x $100 -
TriStar Bank 0.25% 2.05x $1 -
The Bank of Fayette County 0.25% 2.05x $100 -
First South Bank 0.25% 2.05x $2,500 -
First Vision Bank of Tennessee 0.25% 2.05x $100 -
First Farmers & Commercial Bank 0.25% 2.05x $2,500 -
The Peoples Bank 0.25% 2.05x $1 -
First Citizens National Bank 0.25% 2.05x $1 -
American Patriot Bank 0.25% 2.05x $1,000 -
Civic Bank & Trust 0.25% 2.05x $10,000 -
Security Federal Savings Bank of McMinnville 0.25% 2.05x $10 -
CedarStone Bank 0.25% 2.05x $100 -
Newport Federal Bank 0.25% 2.05x $25 -
Community National Bank 0.25% 2.05x $100 -
Coffee County Bank 0.25% 2.05x $100 -
Peoples Bank & Trust Company 0.25% 2.05x $100 -
Citizens Tri-County Bank 0.25% 2.05x $1 -
Traditions First Bank 0.25% 2.05x $1 -
Southern Community Bank 0.25% 2.05x $100 -
Bank of Lincoln County 0.25% 2.05x $300 -
Triumph Bank 0.25% 2.05x $100 -
Patriot Bank 0.25% 2.05x $100 -
Clayton Bank and Trust 0.25% 2.05x $1 -
The First Bank and Trust Company 0.25% 2.05x $25 -
People's Bank and Trust Company of Pickett County 0.25% 2.05x $1 -
First Freedom Bank 0.25% 2.05x $50 -
Volunteer State Bank 0.25% 2.05x $25,000 -
First Commerce Bank 0.25% 2.05x $1 -
Bank of Ripley 0.25% 2.05x $10,000 -
Tri-State Bank of Memphis 0.25% 2.05x $600 -
Tennessee State Bank 0.25% 2.05x $25,000 -
Citizens Savings Bank and Trust Company 0.25% 2.05x $25,000 -
Sevier County Bank 0.25% 2.05x $10,000 -
Evolve Bank & Trust 0.25% 2.05x $2,500 -
Foothills Bank & Trust 0.25% 2.05x $10,000 -
Brighton Bank 0.25% 2.05x $2,500 -
Apex Bank 0.25% 2.05x $20,000 -
Commercial Bank & Trust Co. 0.25% 2.05x $25,000 -
Citizens Bank of Blount County 0.25% 2.05x $2,500 -
First Bank of Tennessee 0.25% 2.05x $25,001 -
Simmons First National Bank 0.25% 2.05x $25,000 -
First Community Bank of Bedford County 0.25% 2.05x $100 -
Citizens Bank 0.23% 1.89x $25,000 -
Franklin Synergy Bank 0.23% 1.89x $10,000 -
Legends Bank 0.22% 1.80x $10,000 -
American Trust Bank of East Tennessee 0.21% 1.72x $1 -
Triumph Bank 0.21% 1.72x $1 -
SOUTHERN BANK OF TENNESSEE 0.21% 1.72x $10,000 -
Bank of Tennessee 0.21% 1.72x $25,000 -
Sevier County Bank 0.20% 1.64x $2,500 -
The Lauderdale County Bank 0.20% 1.64x $1 -
Peoples Bank of East Tennessee 0.20% 1.64x $10,000 -
Citizens Bank of Lafayette 0.20% 1.64x $10 -
Clayton Bank and Trust 0.20% 1.64x $2,500 -
The Farmers Bank 0.20% 1.64x $100 -
Home Federal Bank of Tennessee 0.20% 1.64x $50 -
Highlands Union Bank 0.20% 1.64x $25,000 -
Metropolitan Bank 0.20% 1.64x $10,000 -
Civic Bank & Trust 0.20% 1.64x $1 -
First Peoples Bank of Tennessee 0.20% 1.64x $2,500 -
Citizens Bank and Trust Company of Grainger County 0.20% 1.64x $100 -
TruPoint Bank 0.20% 1.64x $1 -
First Community Bank of Bedford County 0.20% 1.64x $25,001 -
Bank of Bartlett 0.20% 1.64x $25,000 -
Civis Bank 0.20% 1.64x $100 -
Elizabethton Federal Savings Bank 0.20% 1.64x $1 -
Carroll Bank and Trust 0.20% 1.64x $10,000 -
Synovus Bank 0.20% 1.64x $25,000 -
Apex Bank 0.20% 1.64x $2,500 -
BankTennessee 0.20% 1.64x $1 -
CB&S Bank, Inc. 0.20% 1.64x $2,500 -
First National Bank of Pulaski 0.20% 1.64x $25,000 -
SmartBank 0.20% 1.64x $25,000 -
American Patriot Bank 0.20% 1.64x $2,500 -
First Jackson Bank, Inc. 0.20% 1.64x $25 -
Bank of Lincoln County 0.20% 1.64x $2,500 -
Coffee County Bank 0.20% 1.64x $1,000 -
American City Bank of Tullahoma 0.20% 1.64x $5,000 -
Southern Community Bank 0.20% 1.64x $10,000 -
Bank of Ripley 0.20% 1.64x $50 -
Security Bank 0.20% 1.64x $10,000 -
The First Bank and Trust Company 0.20% 1.64x $10,000 -
Citizens Bank 0.20% 1.64x $10,000 -
First State Financial, Inc. 0.20% 1.64x $2,500 -
Security Bank and Trust Company 0.20% 1.64x $5,000 -
F&M Bank 0.20% 1.64x $25,000 -
Bank of Frankewing 0.20% 1.64x $25,000 -
Simmons First National Bank 0.20% 1.64x $1 -
Evolve Bank & Trust 0.20% 1.64x $1 -
Cadence Bank, N.A. 0.20% 1.64x $15,000 -
First Vision Bank of Tennessee 0.20% 1.64x $1 -
InsBank 0.20% 1.64x $10,000 -
FirstBank 0.20% 1.64x $10,000 -
Cumberland Bank and Trust 0.20% 1.64x $10,000 -
INSOUTH Bank 0.20% 1.64x $25,000 -
Community Trust Bank, Inc. 0.19% 1.56x $25,000 -
Community Bank 0.19% 1.56x $10,000 -
Community First Bank & Trust 0.19% 1.56x $25,000 -
First Alliance Bank 0.18% 1.48x $10,000 -
Franklin Synergy Bank 0.18% 1.48x $1 -
CB&S Bank, Inc. 0.18% 1.48x $10,000 -
Bank of Tennessee 0.17% 1.39x $2,500 -
New Peoples Bank, Inc. 0.17% 1.39x $25,000 -
United Cumberland Bank 0.17% 1.39x $25,000 -
First National Bank of Pulaski 0.16% 1.31x $2,500 -
The Fort Sill National Bank 0.15% 1.23x $1 -
Cadence Bank, N.A. 0.15% 1.23x $15,000 -
Security Bank 0.15% 1.23x $100 -
CB&S Bank, Inc. 0.15% 1.23x $1 -
Cornerstone Community Bank 0.15% 1.23x $10,000 -
CedarStone Bank 0.15% 1.23x $25,000 -
Community Bank & Trust 0.15% 1.23x $250 -
Union Bank 0.15% 1.23x $1 -
Miners Exchange Bank 0.15% 1.23x $1 -
Commercial Bank 0.15% 1.23x $25 -
Bank of Bartlett 0.15% 1.23x $2,500 -
National Bank of Tennessee 0.15% 1.23x $1 -
Mountain Valley Bank 0.15% 1.23x $2,500 -
FirstBank 0.15% 1.23x $25 -
Community National Bank 0.15% 1.23x $5,000 -
Bank of Frankewing 0.15% 1.23x $1 -
TruPoint Bank 0.15% 1.23x $2,500 -
First Volunteer Bank 0.15% 1.23x $24,999 -
Community Trust & Banking Company 0.15% 1.23x $1 -
SOUTHERN BANK OF TENNESSEE 0.15% 1.23x $100 -
Heritage Community Bank 0.15% 1.23x $100 -
Citizens National Bank 0.15% 1.23x $2,500 -
Peoples Bank & Trust Company 0.15% 1.23x $10,000 -
Southern Community Bank 0.15% 1.23x $2,500 -
Patriot Bank 0.15% 1.23x $25,000 -
Community Bank 0.15% 1.23x $25 -
First Bank of Tennessee 0.15% 1.23x $100 -
The First Bank and Trust Company 0.15% 1.23x $2,500 -
New Peoples Bank, Inc. 0.15% 1.23x $1,000 -
Andrew Johnson Bank 0.15% 1.23x $100 -
UBank 0.15% 1.23x $2,500 -
Citizens First Bank 0.15% 1.23x $100 -
Citizens Savings Bank and Trust Company 0.15% 1.23x $100 -
Volunteer State Bank 0.15% 1.23x $1 -
McKenzie Banking Company 0.15% 1.23x $25,000 -
Citizens Bank 0.15% 1.23x $100 -
Carroll Bank and Trust 0.15% 1.23x $2,500 -
American City Bank of Tullahoma 0.15% 1.23x $1,000 -
Citizens Bank 0.15% 1.23x $50 -
Simmons First National Bank 0.15% 1.23x $2,500 -
Cumberland County Bank 0.15% 1.23x $10,000 -
Bank of Putnam County 0.15% 1.23x $10,000 -
CapStar Bank 0.15% 1.23x $1,000 -
F&M Bank 0.15% 1.23x $500 -
Paragon Bank 0.15% 1.23x $25,001 -
Wilson Bank and Trust 0.15% 1.23x $2,501 -
Citizens Bank 0.15% 1.23x $1,500 -
First Advantage Bank 0.15% 1.23x $10,000 -
Commerce Union Bank 0.15% 1.23x $10,000 -
Legends Bank 0.15% 1.23x $1 -
InsBank 0.15% 1.23x $1 -
Athens Federal Community Bank 0.15% 1.23x $25,000 -
Brighton Bank 0.15% 1.23x $100 -
INSOUTH Bank 0.15% 1.23x $10,000 -
Metropolitan Bank 0.15% 1.23x $1,000 -
Trustmark National Bank 0.15% 1.23x $25,000 -
Synovus Bank 0.15% 1.23x $25,000 -
Community Trust Bank, Inc. 0.14% 1.15x $2,500 -
Heritage Bank & Trust 0.14% 1.15x $1 -
Elizabethton Federal Savings Bank 0.13% 1.07x $2,500 -
TNBANK 0.12% 0.98x $1 -
Citizens National Bank 0.12% 0.98x $50 -
HomeTrust Bank, National Association 0.12% 0.98x $10,000 -
Community Trust Bank, Inc. 0.12% 0.98x $100 -
Synovus Bank 0.12% 0.98x $1 -
United Cumberland Bank 0.12% 0.98x $10,000 -
Independent Bank 0.12% 0.98x $15,000 -
American Trust Bank of East Tennessee 0.11% 0.90x $2,500 -
First Community Bank of the Heartland, Inc. 0.11% 0.90x $25,000 -
American City Bank of Tullahoma 0.10% 0.82x $100 -
Athens Federal Community Bank 0.10% 0.82x $2,500 -
Greeneville Federal Bank, FSB 0.10% 0.82x $2,500 -
Sumner Bank & Trust 0.10% 0.82x $1 -
New Peoples Bank, Inc. 0.10% 0.82x $25 -
First Volunteer Bank 0.10% 0.82x $1,000 -
Cadence Bank, N.A. 0.10% 0.82x $100 -
CB&S Bank, Inc. 0.10% 0.82x $1 -
Southern Heritage Bank 0.10% 0.82x $2,500 -
First Community Bank of East Tennessee 0.10% 0.82x $10,000 -
INSOUTH Bank 0.10% 0.82x $1 -
UBank 0.10% 0.82x $10 -
Highlands Union Bank 0.10% 0.82x $1 -
Mountain Valley Bank 0.10% 0.82x $1 -
First Bank of Tennessee 0.10% 0.82x $2,501 -
SouthEast Bank 0.10% 0.82x $1 -
First Farmers & Commercial Bank 0.10% 0.82x $100 -
United Community Bank 0.10% 0.82x $1 -
Community Trust & Banking Company 0.10% 0.82x $2,500 -
The First National Bank of Manchester 0.10% 0.82x $100 -
Bank of Tennessee 0.10% 0.82x $100 -
McKenzie Banking Company 0.10% 0.82x $10,000 -
Citizens Bank 0.10% 0.82x $2,500 -
Citizens Bank 0.10% 0.82x $2,500 -
Wilson Bank and Trust 0.10% 0.82x $2,501 -
CedarStone Bank 0.10% 0.82x $1,000 -
Heritage Community Bank 0.10% 0.82x $1,000 -
First Century Bank 0.10% 0.82x $1 -
Citizens Bank 0.10% 0.82x $100 -
Paragon Bank 0.10% 0.82x $1,001 -
United Cumberland Bank 0.10% 0.82x $25 -
Citizens State Bank 0.10% 0.82x $100 -
First Community Bank of Bedford County 0.10% 0.82x $10,001 -
BankTennessee 0.10% 0.82x $2,500 -
Iberiabank 0.10% 0.82x $10,000 -
Bank of Bartlett 0.10% 0.82x $2,500 -
Bank of Halls 0.10% 0.82x $2,500 -
Security Bank 0.10% 0.82x $2,500 -
Farmer's and Merchants Bank 0.10% 0.82x $1 -
First State Financial, Inc. 0.10% 0.82x $500 -
Highland Federal Savings and Loan Association 0.10% 0.82x $100 -
First National Bank of Tennessee 0.10% 0.82x $100 -
Traditions First Bank 0.10% 0.82x $1,000 -
TriStar Bank 0.10% 0.82x $1 -
Heritage Bank USA, Inc. 0.10% 0.82x $1 -
BancorpSouth Bank 0.10% 0.82x $25,000 -
Legends Bank 0.10% 0.82x $2,500 -
First National Bank of Pulaski 0.10% 0.82x $100 -
Cumberland Bank and Trust 0.10% 0.82x $2,500 -
TriSummit Bank 0.10% 0.82x $50 -
Patriot Bank 0.10% 0.82x $25 -
The Bank of Jackson 0.10% 0.82x $2,500 -
Cornerstone Community Bank 0.10% 0.82x $1 -
Synovus Bank 0.10% 0.82x $10,000 -
Community Bank & Trust 0.10% 0.82x $25,001 -
HomeTrust Bank, National Association 0.10% 0.82x $2,500 -
Andrew Johnson Bank 0.10% 0.82x $2,500 -
Community First Bank & Trust 0.10% 0.82x $100 -
TNBANK 0.10% 0.82x $10,000 -
Trustmark National Bank 0.10% 0.82x $25 -
F&M Bank 0.10% 0.82x $10,000 -
National Bank of Tennessee 0.10% 0.82x $15,000 -
Commerce Union Bank 0.10% 0.82x $1,000 -
SmartBank 0.10% 0.82x $2,500 -
Greenfield Banking Company 0.10% 0.82x $1 -
Pinnacle Bank 0.10% 0.82x $1 -
First Advantage Bank 0.10% 0.82x $1 -
Renasant Bank 0.09% 0.74x $1,000 -
First Farmers and Merchants Bank 0.08% 0.66x $2,500 -
Tennessee State Bank 0.08% 0.66x $1 -
Sevier County Bank 0.08% 0.61x $100 -
Fifth Third Bank 0.07% 0.57x $25,000 -
First Community Bank of the Heartland, Inc. 0.07% 0.57x $1 -
Citizens Bank 0.07% 0.57x $25,000 -
Heritage Bank USA, Inc. 0.07% 0.57x $10,000 -
United Cumberland Bank 0.07% 0.57x $1 -
Community Bank & Trust 0.07% 0.57x $2,500 -
First Volunteer Bank 0.06% 0.49x $100 -
First Alliance Bank 0.06% 0.49x $1,500 -
U.S. Bank National Association 0.06% 0.49x $10,000 -
First Community Bank of the Heartland, Inc. 0.06% 0.49x $2,500 -
First Community Bank 0.06% 0.49x $300 -
McKenzie Banking Company 0.05% 0.41x $2,500 -
Bank of Cleveland 0.05% 0.41x $500 -
Progressive Savings Bank 0.05% 0.41x $250 -
SouthEast Bank 0.05% 0.41x $100 -
Bank of Putnam County 0.05% 0.41x $50 -
First Federal Bank 0.05% 0.41x $100 -
Branch Banking and Trust Company 0.05% 0.41x $10,000 -
Sumner Bank & Trust 0.05% 0.41x $2,500 -
Pinnacle Bank 0.05% 0.41x $1 -
Southern Heritage Bank 0.05% 0.41x $100 -
Heritage Bank & Trust 0.05% 0.41x $25,000 -
First Community Bank of East Tennessee 0.05% 0.41x $1 -
First Volunteer Bank 0.05% 0.41x $100 -
Volunteer Federal Savings Bank 0.05% 0.41x $50 -
First National Bank of Tennessee 0.05% 0.41x $2,500 -
Iberiabank 0.05% 0.41x $2,500 -
Security Bank and Trust Company 0.05% 0.41x $25 -
Independent Bank 0.05% 0.41x $1 -
BancorpSouth Bank 0.05% 0.41x $1 -
First Community Bank of Bedford County 0.05% 0.41x $2,500 -
Home Federal Bank Corporation 0.05% 0.41x $25,000 -
Citizens Bank of Blount County 0.05% 0.41x $100 -
Peoples Bank & Trust Company 0.05% 0.41x $2,500 -
First-Citizens Bank & Trust Company 0.05% 0.41x $1 -
Paragon Bank 0.05% 0.41x $100 -
Citizens Bank 0.05% 0.41x $100 -
First Century Bank 0.05% 0.41x $1,000 -
Truxton Trust Company 0.05% 0.41x $1 -
Heritage Bank USA, Inc. 0.05% 0.41x $2,500 -
Commercial Bank & Trust Co. 0.05% 0.41x $1 -
Highlands Union Bank 0.05% 0.41x $1 -
National Bank of Tennessee 0.05% 0.41x $2,500 -
Commercial Bank 0.05% 0.41x $2,500 -
Citizens Bank 0.05% 0.41x $1 -
TriSummit Bank 0.05% 0.41x $2,000 -
F&M Bank 0.05% 0.41x $1 -
Athens Federal Community Bank 0.05% 0.41x $50 -
Renasant Bank 0.05% 0.41x $10,000 -
Peoples Bank of East Tennessee 0.05% 0.41x $1 -
Greeneville Federal Bank, FSB 0.05% 0.41x $1 -
Cumberland County Bank 0.05% 0.41x $50 -
TNBANK 0.05% 0.41x $2,500 -
First Advantage Bank 0.05% 0.41x $2,500 -
Synovus Bank 0.05% 0.41x $1,000 -
Cadence Bank, N.A. 0.05% 0.41x $1,000 -
U.S. Bank National Association 0.05% 0.41x $10,000 -
Metropolitan Bank 0.05% 0.41x $100 -
First South Bank 0.05% 0.41x $100 -
Commerce Union Bank 0.05% 0.41x $1 -
U.S. Bank National Association 0.04% 0.33x $1,000 -
Citizens Bank 0.04% 0.33x $1 -
The Citizens National Bank of Athens 0.04% 0.33x $100 -
Tri-State Bank of Memphis 0.04% 0.33x $10,000 -
First Community Bank 0.04% 0.33x $25,000 -
Heritage Bank & Trust 0.04% 0.33x $25,000 -
Synovus Bank 0.04% 0.33x $5,000 -
Branch Banking and Trust Company 0.03% 0.25x $1,000 -
BancorpSouth Bank 0.03% 0.25x $1 -
Wells Fargo Bank, National Association 0.03% 0.25x $1 -
Renasant Bank 0.03% 0.25x $100 -
Home Federal Bank Corporation 0.03% 0.25x $500 -
First Alliance Bank 0.03% 0.25x $100 -
Pinnacle Bank 0.03% 0.25x $1 -
Bank of America, National Association 0.03% 0.25x $1 -
First-Citizens Bank & Trust Company 0.03% 0.25x $1 -
First Farmers and Merchants Bank 0.03% 0.25x $1 -
Progressive Savings Bank 0.03% 0.25x $10,000 -
Community First Bank & Trust 0.03% 0.25x $2,500 -
Synovus Bank 0.03% 0.25x $1,000 -
Heritage Bank & Trust 0.03% 0.25x $10,000 -
Republic Bank & Trust Company 0.02% 0.16x $1 -
Branch Banking and Trust Company 0.02% 0.16x $1 -
Fifth Third Bank 0.02% 0.16x $10,000 -
Home Federal Bank Corporation 0.02% 0.16x $10,000 -
United Community Bank 0.02% 0.16x $2,500 -
Heritage Bank & Trust 0.02% 0.16x $10,000 -
First Tennessee Bank, National Association 0.02% 0.16x $25,000 -
Planters Bank, Inc. 0.01% 0.08x $25 -
SunTrust Bank 0.01% 0.08x $1 -
Regions Bank 0.01% 0.08x $2,500 -
Fifth Third Bank 0.01% 0.08x $1 -
First Tennessee Bank, National Association 0.01% 0.08x $1 -
Bank of America, National Association 0.01% 0.08x $1 -
U.S. Bank National Association 0.01% 0.08x $1 -
Progressive Savings Bank 0.01% 0.08x $2,500 -
First Community Bank 0.01% 0.08x $1 -
Wells Fargo Bank, National Association 0.01% 0.08x $1 -
Tri-State Bank of Memphis 0.01% 0.08x $2,500 -
Heritage Bank & Trust 0.01% 0.08x $1,000 -


BestCashCow strives to maintain the most accurate rates. If you find a rate that is not accurate, please let us know by commenting below so that we can update it. Thank you for your help.

Local Savings Rates

Savings accounts offer depositors flexibility along with the stability of FDIC insurance (when deposit amounts are within FDIC limits). Savings accounts are a good place for money that is needed in the next 6-18 months and that the depositor wants to keep safe. Individuals often use savings accounts for a home downpayment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures.

While online savings account have grown in popularity over the past ten years, some consumers prefer opening an account in a branch and having a personal relationship with the people who safeguard their money. Physical branches also provide an easy way to get cash instantly, to deposit checks and access to notaries and coffee and donuts.

You will find a map with all banks that are close to you here.

Advantages:

· Higher interest rate than a checking account, usually.

· Personal service and interaction. Unlike an online account you are building a relationship with your banker by opening it in a branch.

· Online access. Often, depending on the size of the bank, good online banking functionality.

· Liquidity. Depositors can withdraw their money at any time.

Disadvantages:

· A variable interest rate. Rates can change at any time. In a falling rate environment, this is a negative. In a rising rate environment, this is a positive.

· A lower rate than an online bank. Branches are expensive and non-online banks often can't afford to pay as much interest as an online bank.

BestCashCow strongly recommends that when depositing money, you stay within FDIC insured limits. If you are considering depositing over $250,000 at a single bank across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should visit the FDIC's website to determine your coverage limits based on your circumstances.

  • george koshefsky

    April 21, 2015

    Where is the list of the worst online banks to bank with or the States to avoid

  • ctyank January 19, 2015

    January 19, 2015

    Liberty Bank...Hamden, CT...new branch opening...special savings rate, 1.50% up to $100,000.00 through 2016...do not beleive it is available to om-line customer(s)...checking account linked, free...

  • Sol @ Travis

    September 29, 2013

    @ Travis

    In many cases we do provide this information. For example, the Belmont Savings Bank rate you list above comes with a clear disclaimer if you click the Learn more button. We're always trying to improve though and will certainly continue to gather additional information. Thanks for your comment.

  • Travis MacDonald

    September 29, 2013

    I find the numbers decieving. Some of your banks listed with the highest APR have many restrictions and requirements. I feel that these should be listed on your site in the "details" section to avoid any "bait-and-switch" claims. For instance, Belmont Savings Bank in Belmont, MA is listed as having a 1.00% APR, but the savings account requires a companion checking account with a daily average balance of 250,000. Another example is Salen Five cents Bank under the online banks. The account listed is not available on their website. When I inquired about it, they told me that particular savings product was reserved as an add-on for accounts with daily balances in excess of $10,000. It seems alot of research went into the details pages in terms of company financials and whatnot. Seems like a little more research could be done on the savings and checking products themselves.

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Why do savings rates vary so much?


Even though rates are at levels that are historically very low, there is competition for your money. Like any active marketplace, there are buyers and sellers of goods and services at different prices.

Online banks offer higher savings and CD rates because they have lower expenses from not having to maintain brick-and-mortar locations, but you should also check rates at local banks and credit unions using the tabs above.

What is the difference between a savings account and a money market account?


The differences between a savings account and a money market account are largely arcane. Some money market accounts offer more ways access deposits by issuing checks and debit cards, but prudent consumers will compare the two interchangeably, focusing primarily on rates and service among FDIC-insured banks (or NCUA-insured, for credit unions). Consumers who maximize their use of online savings and money market accounts access these accounts through ACH transfers that are easily set up on the online bank’s website so the additional ways to access deposits that money market accounts offer are rarely valuable.

What does annual percentage yield (APY) mean?


Savings rates are displayed in terms of APY to indicate the effective annual-interest return, including the compounding of interest, of the course of a single year. $100,000 deposited in a savings or CD account with a 1.20% APY will earn $1,200 in the course of the year, but monthly interest in the first few months may be less than $100 a month (this also depends on the number of days in the month). Hence, the APY rate is ordinarily a couple of basis points above the real interest rates. Unlike with a CD, your actual APY in a savings may vary if the rate changes.

How do I choose the right savings account and should I consider CDs?


Begin your search with the table here on BestCashCow.com that you have found. In addition to checking online savings rates, you should also check local bank rates and local credit union rates. If you are unlikely to require access to your cash for some time, you may also consider certificates of deposit (CDs). While CDs have penalties for early withdrawal that may even eat into your principal, the rates on 2, 3, 4 and 5 year CDs are ordinarily significantly higher than savings rates. Several other sections and articles on BestCashCow can also help you to identify your proper cash allocation between savings and CDs. Access these below. You should also familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.