bank rates

Tennessee Bank Tops 12-Month CD Rates

A small Tennessee bank has leapt to the top of our rankings of the best nationally available 12-month CD rates.

Franklin Synergy Bank, which has two branches in Franklin,Tenn., is paying 2.10% APY with a minimum deposit of $1,000.

This small Tennessee bank is paying 2.10% APY, with a minimum deposit of just $1,000.Last July we featured a very good 11-month special from this bank that was discontinued only a few days after we wrote about it.

We wouldn’t be surprised if that happens again because small banks offering top deals such as this usually obtain all the new deposits they need very quickly.

Most banks are also paying less, not more, for 12-month certificates of deposit.

Late last year six banks were offering the best deal on 12-month CDs — 2.00% APY.

Since then, all but one has cut their rates. The Jacksonville Bank is the lone exception.

Click here to compare these offers with the best CD rates from dozens of other banks in our extensive database.

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  1. DealMaven said:
    on January 26th at 08:34 am

    We had a feeling that Franklin Synergy’s 2.10% APY on its 12-month CD wouldn’t last long. It didn’t. Today it dropped its rate to 2.00% APY. But, it is still only one of two banks paying that yield on a 12-month.