Tennessee Commerce Bank offers Best Interest Rate for 18-month CD at 2.45% APY
The Tennessee Commerce Bank still offers the top cd rates for several certificate of deposit deals. They have a history of good cd interest rates compared to the rest of the market. As of June 9 they offer the following:
The cd rates can be locked for 10 days after the submission of the application. The bank will require the applicant to send in copies of identification and accomplished forms. Opening balance requires $2500. These CDs can also be acquired as Roth or traditional IRAs.
Funding of the certificate of deposit can be done via ACH, electronic check, or wire transfer. Upon maturity, account holders can withdraw the funds and earning through the same channels. It will be best to ask the bank for details with regard to any fees involve.
The bank also gives 10 days of grace period upon maturity of the certificate of deposit in case the account holder decides to close the account.
Early withdrawal penalties apply for this account. The bank will charge 3 months of earnings will be taken for CDs with less than 2 years of term and 6 months of interest for certificates 2 years and over.
The Tennessee Commerce Bank is headquartered in Franklin, Tennessee. BauerFinancial issued a 3.5-star review while bankrate.com gave it 3 stars. The bank has assets amounting to $1.266 billion and deposits of about $1.108 billion.
TBC is insured with the FDIC with certificate number 35296.
