As per the Federal Deposit Insurance Corporation or FDIC, there are about 157 active FDIC insured banks that operate in Tennessee. As there are a lot of them, it can be hard for the customers like you to choose the best bank. Luckily, you are here where you will get help to decide which banks in your state that offer the thing that you are looking for. Check out the top 10 banks in Tennessee below:
- Ally Bank
If you are considering getting top savings accounts, just go for Ally Bank. This one is the perfect option for it. It has an Online Savings Accounts that can help with a 0.60% APY. Besides, it also has an interest checking account with a 0.10% APT for accounts with a minimum daily balance under $15,000 and a 0.25% APY for those above the number.
- U.S. Bank
The U.S. Bank has more than 100 branches in Tennessee alone. It is believed to be the best national bank with branches in the state. It offers some different kinds of checking and savings accounts, CDs, and so on.
FSNB is really huge. It has about 40 branches in Tennessee. Not only in Tennessee, this bank can also be found in nine other states. Due to this fact, it is clearly a perfect option for everyone who loves traveling within the country and wants to use their bank while they are travelling.
For those who are looking for basic banking, the good news is that there are a few accounts offered by FSNB that are worth considering. You may want to consider pairing a savings account with a Basic checking account. In order to open a savings account, you only need $5. By doing so, you will get a 0.10% APY as long as you can maintain an account balance of at least $25. It is clearly a great rate for a savings account and it wins compared to its competitors. What is great is that it is possible for you to avoid any monthly fees if you can maintain the balance of $75. Besides, you can also do it by receiving electronic statements. If you want to earn a higher rate of 0.25%, try to keep more than $5,000 in your account.
Just like opening a savings account, you can also open a basic checking account by just spending $5. If you want to avoid monthly service fees, you will have to maintain a balance of $75. By opening a basic checking account, you will be able to get unlimited check writing. Plus, you will also get a Visa CheckCard, the one that is similar to a debit card, for free. If you want to get more privileges such as getting interest on that money, please maintain a balance of $500. If you are able to do that, you will be able to get the interest on that money at an APY of 0.05%.
- Regions Bank
Region Bank is known to have the best branch access in Tennessee. As of now, it has more than 25 branches than First Tennessee Bank and 225 branches across the state. What is good about this bank is the fact that it provides flexibility both in location and in product offerings, featuring accounts, loans, and services for both individuals and businesses. In addition, it also offers one of the best checking accounts for students. By making this kind of account, these students will be able to use it without getting charged for five years if they are 25 or younger and enrolled in school.
- Truist Financial Corporation
Truits Financial Corporation is the merger of BB&T and SunTrust Banks. This one is known as the 8th largest bank in the United States with 2,049 branches in 15 states and Washington, D. C. The bank has many offers, including securities brokerage, asset management mortgage, and insurance products and services.
- Fifth Third Bank
Fifth Third Bank has one of the top banking experiences in and around Tennessee, according to J.D. Power’s U.S. Retail Banking Satisfaction Study. Apparently, the study takes a number of factors into account. These factors include the ability of the bank to handle the issues that the customer has, the frequency of its branches and ATMs, its fees, and the products offered by it.
- CIT Bank
CIT Banks offers some services. The services offered by this bank can be online or through mobile banking. It teams up with a few parties such as personal customers, businesses, commercial clients and community associations. As a customer, you can do a lot of things, including depositing checks, transferring funds, monitoring your accounts, viewing your transaction history and paying your bills. Feel free to do that whenever you are. Apart from that, you can also open a eChecking account online. By doing so, you will be able to earn interest for free. Basically, a lot of things can be done at your comfort place.
Two of the best products offered by CIT Banks are its saving accounts and saving products. These savings accounts vary when it comes to terms and interest rates. The money that you have can also be saved in a money market account and in some different kinds of certificates of deposit.
FirstBank is named as the best regional bank with the best checking accounts in Tennessee. This one is a local company. Its branches are mostly located in Tennessee. It is named as the third largest bank that is headquartered in Nashville, Tennessee. Currently, it has 87 full service branch locations.
- Bank of Tennessee
Bank of Tennessee provides the products, services, and advice to help everyone fulfilling every life moment. With it, everything can be done easily from shopping for everyday needs, going on vacation, saving for college, starting a business or planning for retirement.
- Atlantic Capital Bank
A full range of banking services for mid market and emerging growth companies and their principles are offered by the Atlantic Capital Bank. The bank wants all of its clients to prosper. To achieve its aim, one of its efforts is to provide them tailored credit, treasury services and depository solutions.