Tag Archives: interest rate

Current checking interest rates in Nashville area

In the last few days, I have reviewed the interest rates available in checking accounts for a few dozen banks in the Nashville, and some national and online banks. The following banks offer the best interest rates on checking in the Nashville area, in the order of my preference. Simmons Bank recently acquired First State Bank, and since then has significantly lowered the checking interest rate.

Bank Link Best rate*
Civic Bank & Trust http://www.civicbanktn.com/ 1.250% (amonts below $30k) 0.400% (amounts above $30k)
Reliant Bank https://www.reliantbank.com/ 1.000% (amoutns below $20k) 0.050% (amounts above $20k)
Renasant Bank https://www.renasantbank.com/ 0.753% (amounts  below $25k) 0.095% (amounts above $25k)
Capital Bank  https://www.capitalbank-us.com/ 0.740% ($10k min., not sure customer service undersood my request)
Simmons Bank (purchased First State Bank) https://simmonsbank.com/ 0.250%

The rates in the following table are typical but pathetic. They are in no particular order.

Bank Link Best rate*
The Bank of Nashville - Synovus https://bankofnashville.synovus.com/ 0.050%
Regions https://www.regions.com/ Could not reach customer service (waited 5 minutes on hold starting at 9:30am).
 Pinnacle (purchased Avenue Bank) https://www.pnfp.com/ 0.025%
Fifth Third Bank https://www.53.com/ 0.010% ($20k min.) 0.100% ($100k min.)
The Tennessee Credit Union https://www.ttcu.org/ 2.500% (amounts below $5k) 0.250% (amounts above $5k)
First Tennessee https://www.firsttennessee.com/ 0.010%
 Bank of America  https://www.bankofamerica.com/  0.010% ($0 min.) 0.020% ($50k min.)
Wells Fargo https://www.wellsfargo.com/ 0.010% ($0 min.) 0.05% ($5k min.)
Cornerstone Financial Credit Union https://www.bankcfcu.org/ 0.050% ($1000 min.)
US Bank https://usbank.com 0.010% ($0 min.) 0.020% ($10k min.)
Ally (Online) https://www.ally.com 0.100% ($0 min.) 0.600% ($15k min.)
Suntrust https://www.suntrust.com 0.010% ($0 min.) 0.03% ($10k min.) 0.05 ($25k min.)
Southeast Financial Credit Union https://www.southeastfinancial.org/ 0.050%
Vanderbilt University Credit Union https://www.vanderbiltcu.org/ 0.050%
Nashville Post Office Credit Union  http://www.npocu.org/ 0.050%
 BB&T  https://www.bbt.com/ 0.010%
First Citizens Bank  https://www.firstcitizens.com/ 0.010%
Republic Bank http://www.republicbank.com/ 0.050% ($0 min.) 0.080% ($15k min.)
United Community Bank https://www.ucbi.com/ 0.020%

* The best rate may be listed as APR or APY. However, these are usually very similar for checking accounts.