Tennessee CD Rates for 1-Month to 5-Year CDs

If you are a resident of Tennessee and have been considering taking out a certificate of deposit (CD), we’re here to help.

Here at AdvisoryHQ, we know how important it is to conduct thorough research before signing up for a financial product, especially when it comes to rates on financial products in Tennessee.

To simplify your research process, you can find an overview of TN rates on financial products in the section below.

Best CD Rates in Tennessee

Nashville, TN

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Which Tennessee City Are You Located In?

Below is a list of the largest cities in Tennessee. Click here to go to the Tennessee rate table displayed above to see the best rates on financial products in Tennessee.

Biggest Cities in Tennessee

Population (2016)

Johnson City66,677

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Tips for Getting the Best CD Rates in Tennessee

Across the nation and in Tennessee, CD rates are increasing, especially those that are offered by online banks.

Often providing more in returns than a savings account, certificates of deposit are popular savings products for Tennessee residents, but it’s important to choose the right savings products and rates for your unique financial needs.

Read on to find tips for getting the best CD rates in TN to help your savings grow.

Know Your Finances

Before signing up for CD rates in Tennessee, you’ll want to know exactly how much you can afford to set aside.

Some savings products and CD rates in Tennessee will have minimum balance requirements, so the amount of cash you can set aside may play a large role in which CD you choose.

Keep in mind that any money put into a CD won’t be liquid for at least one year—or more—depending on the CD, so you’ll want to have a good handle on your finances before signing up for CD rates in Tennessee.

Compare Multiple Products

When looking for the best CD rates in TN, your local bank is a good place to start, but it should not be the end-all solution.

With the rise of online banking, there are plenty of online banks offering competitive Tennessee CD rates, often providing better rates than brick-and-mortar banks.

Credit unions are also great resources for CD rates in Tennessee, since they operate as not-for-profit organizations and can often offer better rates as a result.

Look for Promotional Tennessee CD Rates

The benefit to having local banks and credit unions to choose from is that these financial institutions often have promotions or special rates on CDs.

Some examples of potential discounts on TN CD rates include:

  • Larger deposits
  • Switching to electronic statements
  • Senior citizens
  • Veterans
  • Residents of a specific county or city

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High Yield Savings Rates vs Best CD Rates in Tennessee

One of the most important steps in finding the best CD rates in TN is understanding all of your options when it comes to the best CD rates in Tennessee.

Tennessee CD rates for longer-term CDs tend to provide the best rates, since banks can use your investment for a longer period of time.

It’s also important to note that the best CD rates in Tennessee might not match the best national rates.

However, you might also want to consider high-yield savings accounts in Tennessee. You may find that online high-yield savings accounts offer higher rates than the best CD rates in Tennessee.

You can compare rates on top-rated financial products in Tennessee by visiting the above TN rate table.

Conclusion: Getting the Best CD Rates in Tennessee

There are plenty of great financial products available for investors throughout the state of Tennessee.

No matter what type of account you choose, a CD can be a great option for consumers that struggle with keeping their savings intact long enough for their account to grow.

Consider your financial goals, your current savings plan, and the best CD rates in Tennessee to choose the best savings account for your personal financial goals.

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CD, Savings and MMA Rate Table Disclaimer

Click here to read AdvisoryHQ’s disclaimer on the rate table(s) displayed on this page.

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AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.