First Horizon Bank was previously named First Tennessee Bank. It is primarily known for its customer-centric approach and stands out as a well-reputed community-oriented financial institution. Moreover, the bank distinguishes itself from others due to a significant strategy.

It balances affordable services for the customer’s needs and emphasizes manageable fees along with the minimum deposit requirements.

This review article covers various aspects of First Horizon Bank and its offerings. The offers mainly include checking and savings accounts, CD rates, money market accounts, mortgage loans, and a lot of other things to explore.

Bank Overview

It is Headquartered in Memphis, Tennessee. 

First Horizon Bank has a command with an impressive presence in the world of banking. It boasts up to $80.3 billion in terms of assets and almost 417 banking centers. 

The diverse array of personal banking and its products mainly comprises the checking, savings, and money market accounts. In addition to this, it also covers the Certificates of Deposit.

Although monthly maintenance fees are a crucial part of its structure for accounts, First Horizon offers concise feasible waivers. The biggest attraction is Its recognition in GOBankingRates. It is ranked as one of the best regional banks of 2023 and has major prominence in the financial sector.


First Horizon Bank is primarily operated in the southeastern United States, and it is headquartered in Tennessee.

The network of branches and ATMs in these areas ensures convenient access for its customers. For customers within its operating regions, First Horizon Bank offers the advantage of local expertise and a strong community presence, making it a go-to financial institution for many in the Southeast.

Checking Accounts

First Horizon Bank offers three distinct checking accounts;

  • FirstView – It is a standard and non-interest-bearing account that requires a $50 minimum opening deposit with a waiver of monthly service charges if you enroll in paperless statements. It further includes a complimentary Traditional Savings account.
  • SmartView – It is an interest-bearing account that has a similar minimum deposit and a $15 monthly service charge. The waivable is offered only under certain conditions. Attractively, It offers bonus interest rates and free ATM transactions. 
  • TotalView – This is also an interest-bearing account and has a minimum of $25 monthly service charge, waivable upon meeting specific criteria. It provides additional benefits like higher debit card limits along with rebated wire fees.
Account TypeFeaturesMinimum Opening DepositMonthly Service Charge
FirstView CheckingNon-interest-bearing, paperless statement option$50None (with paperless statements)
SmartView CheckingInterest-bearing$50$15
TotalView CheckingInterest-bearing$50$25

Savings Accounts

Most authenticated Traditional Savings account for First Horizon Bank is easy to access with only a $50 opening deposit. It offers a competitive APY.

Whereas the quarterly maintenance fee of $5 is waivable with around $250 minimum daily balance. This account is primarily known for the convenience of linking to a checking account for overdraft protection and it is highly recommended due to 24-hour ATM access.

Account TypeDescriptionAdditional Features
Money Market SavingsPotentially higher yields than traditional savingsTerms and rates to be specified
TotalView Money Market SavingsPremium money market savings, higher interest rates under conditionsHigher interest rates under certain conditions
Traditional SavingsStandard savings accountWaivable with a $250 minimum daily balance
Add On CDCertificate of Deposit with additional deposit optionsAllows additional deposits during the term
Regular CDTraditional fixed-term CDFixed terms and rates, details needed

CD Rates and Money Market Accounts

CD rates for First Horizon Bank and its terms cater to various savings goals. It implies that it is specified with the help of the complete overview. Moreover, the bank’s money market accounts are considered to offer competitive features and benefits to align the overall product range.

Regular CD

  • Minimum Deposit: $1,000.
  • Term Range: 1 to 60 months
  • APY Range: 0.05% to 0.10%
30 Day0.05%
60 Day0.05%
90 Day0.05%
180 Day0.10%
270 Day0.10%
12 Month0.10%
24 Month0.10%
36 Month0.10%
48 Month0.10%
60 Month0.10%

Add-On CD

  • Minimum Deposit: $500.
  • Add-On Feature: Enables additional deposits via automatic transfers starting at $25.
  • Penalty-Free Withdrawal: One is allowed every six months.
  • Interest Transfer: To link savings, checking, or MMA.
  • Maturity and Renewal: Matures every six months with automatic renewal​​

Mortgage Loans and Other Loan Products

Mortgage loans offered by First Horizon Bank are specifically aligned to the options of buying, building, or refinancing homes. Its details for the terms and rates are being crucial considered by the potential homeowners. 

Other than this, the bank also provides auto loans with specific terms that range from 12-60 months and its amount varies between $10,000 and $75,000 which is almost up to 90% of the vehicle’s value.

Home Loans

First Horizon is known to provide a wide range of mortgage products to meet different needs. It;

  • Offers convenient loan options for buying a new home.
  • Ensure the credibility to refinance your existing mortgages for better rates or terms.
  • Tailored loans are available for constructing a new house.
  • Further, enables homeowners to borrow against the equity in their home.

Personal Loans

  • This loan category is secured against a CD or savings account.
  • You can have a Personal loan without collateral.
  • It ensures a flexible line of credit without any requirement for collateral.

Vehicle Loans

  • Financing options are available for the need of new as well as used vehicles.
  • Specialized loans are designed for purchasing boats as well as yachts.
  • You can own a loan specifically for recreational vehicles.

Borrower’s Resources

  • Resources are constructed to help customers understand credit scores and reports.
  • Consumer Credit Solutions provides credible ways to build or repair credit.
  • There are special benefits and services available for military members.
  • Credit Report Disputes Assistance is mainly designed to deal with disputing errors.

First Horizon Bank’s extensive range of mortgage and loan products are combined with its borrower resources providing a consistent and comprehensive guide to suit the options. It is significantly required to meet various financial needs and preferences.

Additional Products and Services

The banking product suite is further extended to credit cards, which include ones with 12-month 0% introductory APRs. 

There are few secured options available for building credit. Moreover, wealth management and insurance services, such as life insurance and long-term care insurance, are also a crucial part of the bank’s approach so that they can make financial planning more considerable.

Comparison Overview with Other Institutes

In comparison to other financial institutions, First Horizon Bank holds its own, especially in the realm of customer service and community banking. 

  • It stands out for its variety of checking and savings account options, as well as its comprehensive digital banking resources. 
  • However, when it comes to interest rates, particularly on savings and CD accounts, some larger national banks and online banks might offer higher rates. 
  • In terms of fees, First Horizon’s structure is pretty standard, with the added benefit of having clear waiver conditions. 

The bank’s loan and mortgage products vary, offering a variety of options suitable for different financial needs. 

Bank NameSavings Account APY1-Year CD APY5-Year CD APYMoney Market APY
First Horizon BankVariesVariesVariesVaries
Bank of AmericaApprox. 0.01-0.06%Approx. 0.03%Approx. 0.75%Approx. 0.01-0.05%
Chase BankApprox. 0.01%Approx. 0.02%Approx. 0.25%Approx. 0.01-0.05%
Wells FargoApprox. 0.01-0.05%Approx. 0.05%Approx. 0.40%Approx. 0.01-0.05%
Ally Bank (Online)Approx. 0.50%Approx. 2.75%Approx. 3.00%Approx. 0.50%

This comparison indicates that First Horizon Bank is a strong contender, especially for customers valuing personal service and comprehensive digital banking.

Digital Banking Experience

First Horizon Bank has become a digital banking platform that focuses on a user-friendly online interface and mobile access. Customer support is also available with the help of various channels. 

This dedicated digital banking helps pages and people by offering personalized assistance for both mobile and online banking needs.

Pros and Cons Analysis

  • Pros

First Horizon Bank’s strengths lie in its versatile checking options, affordable & convenient deposit requirements, and innovative digital banking tools. 

  • Cons

It faces tough competition with higher APYs available elsewhere in the financial markets, and the presence of monthly fees on accounts, though waivable, is a notable drawback in its reputation.

Customer Reviews

In terms of making an evaluation, First Horizon Bank has passed through both the positive and negative perspectives. This stance is accepted on the basis of the reviews collected from the clients.

Considering the positive review side, it highlights and focuses on the following;

  • Bank’s customer service
  • Friendly and helpful nature of the staff. 
  • Customers also appreciate the convenience of the digital tools available in the bank
  • Ease of navigating online and mobile banking platforms

On the other hand, some reviews point out the drawbacks and the areas for improvement. It includes;

  • Need for more competitive interest rates, especially in savings and CD accounts.
  • Additionally, some customers are also not satisfied with the fees associated with checking accounts.

Overall, the individual customer experiences vary, and the bank tends to receive more favorable reviews that help them with their service and digital banking experience.

Final Personal Review – Services, Customers Centric Approach

From a personal standpoint, the services of First Horizon Bank are well-suited for a wide range of customers and their requirements. It is equally compatible for all individuals and their small to medium-sized businesses. 

The bank primarily focuses on and emphasizes customer-oriented service. This is the actual evidence that its diverse portfolio of banking products is highly authentic. It is all available to cater to and meet financial situations and goals. 

The physical presence of the bank in the Southeastern United States establishes a strong network of branches and ATMs. Overall, it enhances accessibility for local customers. 

However, the bank’s regional focus could be more extensive. It appeals to potential customers to reach out to their primary service areas for a well-defined experience. 

On the whole, the bank’s commitment to meeting financial needs is totally credible, and it favors the customers through a blend of traditional banking and modern digital services. Thus, it is a solid choice for all those who fall within the geographic footprint.


Overall, the First Horizon Bank appeared to be a considerable choice for all those who want to get a full-service banking solution along with competitive rates. Its requirement of a $50 opening deposit for most accounts, except CDs, positions it as an accessible option. The potential to waive monthly service fees by meeting certain criteria adds to its appeal, making it a bank worth considering within its service area.


What is the minimum deposit for a checking account at First Horizon Bank?

The minimum deposit required to open a checking account at First Horizon Bank is $50​​.

Are any monthly fees applied to First Horizon Bank’s checking accounts?

Yes, First Horizon Bank surely charges monthly fees for its available checking accounts. However, these fees can be waived under specific conditions.

Does First Horizon Bank offer any special loan products for service members?

First Horizon Bank provides resources and special benefits for military members, which may include favorable terms or conditions under its Consumer Credit Solutions​​.

What are the First Horizon Bank’s Certificates of Deposit?

First Horizon Bank provides CDs with great versatility in terms that range from 1 to almost 60 months. The minimum deposit requirement is $1,000 and APYs range from 0.05% to 0.10%.