Top 10 Best Banks In Tennessee In 2024 | Checking accounts, Rates, Deposit
Top 10 Best Banks In Tennessee | Checking accounts, Rates, Deposit. According to the Federal Deposit Insurance Corporation (FDIC) there are about 157 active FDIC-insured banks operating in the State of Tennessee.
Choosing the best bank is difficult because there are so many high-quality financial institution that offer a range of accounts. To help you decide which banks in Tennessee offer what you need in particular, we have created a list of the best banks in Tennessee.
What are the Best Banks in Tennessee
1. Ally Bank
Ally Bank, a full-service online bank is said to be the best option when it comes to top savings accounts. As saving money is a primary concern of many Americans, Ally’s Online Savings Account can help with a 0.60% APY. In addition, they offer an interest checking account and this comes paired with a 0.10% APY for accounts with a minimum daily balance below $15,000 and a 0.25% APY for accounts above that mark.
2. U.S. Bank
With more than 100 branches in Tennessee, the U.S. Bank is seen as the best national bank with branches in the state. In fact, you can also find branches in most places as there are about 3,000 U.S. Bank locations across the country. The U.S. Bank offers a variety of checking and savings accounts, CDs, and more. That is, no matter the type of account you’re looking for, the U.S. Bank probably has it.
3. FSNB
FSNB is a good option for those who travel within the USA. The reason is that aside from its strong presence across Tennessee with about 40 branches, its presence is also felt in nine other states. FSBN is currently one of the Tennesse banks with the best savings account rate. It offers good basic banking options. For instance, you can open a basic checking account or consider pairing a savings account with a Basic checking account. You only need $5 to open a savings account and you will earn a 0.10% APY if you maintain a minimum account balance of $25.
4. Regions Bank
Regions Bank is said to have the best branch access in Tennessee with 25 more branches than First Tennessee Bank and 225 branches across the state. The bank provides flexibility not only in location but also in product offerings as well, featuring accounts, loans, and services for both individuals and businesses. It also offers one of the best checking accounts for students which has no monthly fee for five years if you’re 25 or younger and enrolled in school.
5. Truist Financial Corporation (Merger of BB&T And SunTrust Banks)
It is currently the eighth-largest US bank operating 2,049 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. Truist is said to have the best student account with its BB&T Student Checking. So, if you’re a student in Tennessee, you may want to look for one of BB&T’s 48 branches in the state.
6. Fifth Third Bank
Fifth Third Bank is one of the largest consumer banks in the Midwestern United States. Fifth Third Bank is best for those who prioritize customer experience. Fifth Third Bank also has a multitude of account options. It offers various options for its checking accounts, savings accounts, CDs, and MMAs respectively. And it wouldn’t force you to keep a minimum balance. Additionally, the bank offers opportunities to in stocks, bonds, or mutual funds.
Fifth Third bank also allows you to combine your checking account with a savings or money market account if you want but, it offers low interest on savings.
7. CIT Bank
Most banks in Tennessee do not offer great rates for savings accounts, and money market accounts that do offer good rates have high maintenance requirements. This is quite different for CIT Bank. CIT, a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals, has the best savings account rate among banks in Tennessee. To be more precise, CIT Bank offers one of the highest savings account interest rates of any bank in the USA, online or traditional.
8. FirstBank
FirstBank is the best regional bank with the best checking accounts in the State. First Bank is a local company with most of its branch locations are in Tennessee. It is the third-largest Tennessee-headquartered bank with headquarters in Nashville, Tennessee, and 87 full-service branch locations.
9. Bank of Tennessee
Whether it’s shopping for everyday needs, going on vacation, saving for college, starting a business or planning for retirement, we provide the products, services, and advice to help fulfill every life moment.
10. Atlantic Capital Bank
Atlantic Capital offers a full range of banking services for mid-market and emerging growth companies and their principles. We fuel the prosperity of our clients by providing tailored credit, treasury services and depository solutions.
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