Best 6-Month CD Rates in Tennessee

4.0
Bankrate Score

Bank or Credit Union Name: Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.45% APY

Pros:

  • FDIC Approved Bank
  • Terms available from 6-24 months
  • Top-tier APY rate with secured return guaranteed
  • Customer-friendly terms

Rules:

  • New customers have to open an account with the bank before investing in Bask Bank’s CDs.
  • CDs can be opened at the bank as well as online
  • The minimum deposit amount of $1000 must be deposited to the account within 10 days of account opening
  • Early withdrawal is subject to a penalty.
  • Investors can withdraw the interest credited to the account without any penalty.
  • There is a 10 days grace period after maturity to make additional deposits to the CD.
4.0
Bankrate Score

Bank or Credit Union Name: First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 4.39% APY

Pros:

  • Online-only CD options are available
  • Highly competitive CD rates in a 1-year term
  • Early withdrawal penalties are decent
  • FDIC-insured bank with investment covered to the max
  • Terms ranging from 3 months to 5 years

Rules:

  • Interest on CDs is compounded monthly and added to the account at the month’s end.
  • Early withdrawal incurs a penalty amounting to:
    1- 90 days interest for a 3-month term
    2- 180 days interest for a 6-18 month term
    3- 365 days interest for 24-60 month term

Best 12-Month CD Rates in Tennessee

4.0
Bankrate Score

Bank or Credit Union Name: CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 5.00% APY

Pros:

  • The high yield rate of interest
  • A decent minimum amount required
  • FDIC-insured banking option
  • Strong customer support system

Rules:

  • To open a CD an investor can approach the bank online or in-branch.
  •  The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
  • The interest on the CD is compounded monthly.
  • Premature withdrawal from the CD is subject to a penalty.
4.0
Bankrate Score

Bank or Credit Union Name: Navy Federal Credit Union

Minimum Amount: $1000

APY Rate: 4.40% APY

Pros:

  • Certificates at competitive prices
  • Most savings and checking accounts have no monthly fees.
  • A large network of fee-free ATMs

Rules:

  • Five CD options available through Navy Federal
  • Standard certificate rates are based on both term length and balance amount.

Best 3 Years CD Rates in Tennessee

4.0
Bankrate Score

Bank or Credit Union Name: CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 4.60% APY

Pros:

  • The high yield rate of interest
  • A decent minimum amount required
  • FDIC-insured banking option
  • Strong customer support system

Rules:

  • To open a CD an investor can approach the bank online or in-branch.
  •  The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
  • The interest on the CD is compounded monthly.
  • Premature withdrawal from the CD is subject to a penalty.
4.0
Bankrate Score
BMO Harris Bank

Bank or Credit Union Name: BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

  • Competitive CD rates
  • Decent minimum balance requirement
  • Easy CD withdrawal methods
  • 3-months to 60-month term available

Rules:

  • A CD can be opened via mobile, online,, or telephone.
  • The interest on the CD is compounded monthly and added to the account on a fixed date every month.
  • There is a penalty for early withdrawal which depends on the term and amount of the CD.
  • Any changes to the CD regarding the amount or term can be made within the grace period of penalty days post maturity.

Best 5 Years CD Rates in Tennessee

4.0
Bankrate Score

Bank or Credit Union Name: Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.55% APY

Pros:

  • Highly competitive rates for 6-month CDs
  • 24/7 access to the bank account
  • No hidden fees or charges
  • Customer support for all sorts of queries and concerns
  • FDIC-insured bank up to maximum

Rules:

  • APY can be earned assuming the interest and the principal remains on deposit until maturity.
  • Interest is compounded monthly and added to the account at the end of the month.
  • Early withdrawal fetches a penalty and there is a grace period after maturity to add additional funds to the CD
4.0
Bankrate Score

Bank or Credit Union Name: First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 4.39% APY

Pros:

  • Online-only CD options are available
  • Highly competitive CD rates in a 1-year term
  • Early withdrawal penalties are decent
  • FDIC-insured bank with investment covered to the max
  • Terms ranging from 3 months to 5 years

Rules:

  • Interest on CDs is compounded monthly and added to the account at the month’s end.
  • Early withdrawal incurs a penalty amounting to:
    1- 90 days interest for a 3-month term
    2- 180 days interest for a 6-18 month term
    3- 365 days interest for 24-60 month term

National CD Rates

Average CD Rates

1-YEAR CD 1.82%
2-YEAR CD 1.75%
6-MONTH CD 2.10%
5-YEAR CD 2.47%
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