Tennessee has hundreds of banks operating within the state. These banks offer both online and brick-and-mortar banking services. If you are looking for a savings account in Tennessee, you have a wide range of options available.
A high-yield savings account is a great additional strategy for your existing financial portfolio such as an emergency fund or a downpayment for a house.
None of these accounts offer the same service, so some research is crucial to find the best fit for you. They have varying interest rates or annual percentage yield (APY), account fees, etc. You want to choose an account with a high APY but low account fees for the most rewarding result. High monthly and transactional fees will affect the value of the net return.
WalletBrain reviewed some of the best savings accounts in Tennessee. We compared their APYs, account fees, minimum requirements, ease of use, and other features to choose our top picks. Use this review to choose the right account for you today.
This savings builder account is unique where you need to deposit $100 a month to get the highest APY. If you don't deposit $100+ a month, then you need to maintain $25,000 in the account. If you don't do either, you won't receive the higher end APY.
This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.
Quontic Bank high yield savings account provides you with the opportunity to accrue interest at a rate 15x higher than the national average. Interest compounds daily and is paid into your account every month.
First Citizen Bank savings account is an online account that charges no monthly fees, but you need to make a minimum deposit of $50 to open this account.