bank rates

11-Month CD Special Offers 2.78% APY

Move over Charlotte, it looks like Franklin, Tenn., population almost 56,000, could be the new banking capital of the South — at least when it comes to certificates of deposit.

Tennessee Commerce Bank headquartered in Franklin, has been making some outstanding CD rates available nationwide for several months.

Now Franklin Synergy Bank, which has two branches in Franklin, is paying a 2.78% APY on an 11-month CD with a $1,000 minimum deposit.

How good is that?

The best-paying 12-month CDs yield 2.25% and 2.26% and the national average is a pitiful 1.16%.

This is the second intriguing deal we’ve seen recently on 11-month CDs.

Just last week Irwin Union Bank in Indiana offered a free 22-inch Sharp or LG flat-screen LCD HDTV for opening an 11-month CD (although the minimum was higher and the rate was much lower.)

The Franklin Synergy offer is available nationwide and you can apply online.

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Comments (11)
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11 Existing Comments
  1. Alisa said:
    on July 11th at 09:24 pm

    Sounds great but when I tried to click the CD links on Franklin’s website they did not respond and in fact doesn’t exist! This does not seem to be a good omen for an online investment…

  2. Jacqueline said:
    on July 11th at 11:09 pm

    The only one I see on their website is 12 mon CD special at 2.7% APY not the 11 mon 2.78% APY special.

  3. Dealmaven said:
    on July 12th at 08:40 am

    Wow! They yanked that one quickly, but they can do that if they haven’t published an expiration date.

    Don’t overlook the 12-month CD at 2.70%. That’s the best 12-month we’ve seen. In fact, we don’t know of any 24-month CDs paying a rate that high.

  4. Judith Haddad said:
    on July 13th at 01:39 am

    Tryed to get information from Franklin Synergy Bank on the 11 month cd you have been telling us about and — it doesn’t exist!!!! You had better check your resources.

  5. Jason Ezell said:
    on July 13th at 08:29 am

    Yes, we do exist and the current special is 2.70 for a 12-month CD. Rates are subject to change and we usually update rates on Tuesdays.

  6. Jason Ezell said:
    on July 13th at 09:35 am

    Well, I apologize, but shortly after I responded, our bank decided to lower the rate to 2.50%. Rates are subject to change.

  7. Jacqueline said:
    on July 13th at 10:35 pm

    I applied it online yesterday and the rate was 2.70%. I have yet to send in my deposit and today’s rate has dropped down to 2.50%. I’m afraid if I did send on my check (which I planned to originally) and the day it reached them the rate will be down to average and I will be stuck with them for 12 months. I think I’ll rethink it really hard.

  8. Jason Ezell said:
    on July 14th at 12:43 pm

    The rate is locked at whatever rate it was when you applied. So, if you completed your application at 2.70 and we get your check when it’s 2.50, you’ll get the 2.70 rate.

  9. Carryl said:
    on July 16th at 04:09 pm

    I wish I had known about locking in a rate. I didn’t think you could open an account and ‘save ‘ the rate. I waited until the CD was mature and then the rate had dropped.

  10. alekssad said:
    on July 17th at 11:49 pm

    It’s really sounds great. But is it true?

  11. David said:
    on August 16th at 01:06 pm

    I had great luck with the bank. I locked in at 2.78%. The service has been outstanding.