1.75% APY best savings account interest rate with Franklin Synergy Bank
Franklin Synergy Bank has an online savings account that offers the highest interest rate of 1.75% APY for deposits of $25,000 and up. Anything below $25K gets 1.35% APY. Earnings for this savings account are paid on a quarterly basis.
The E-Savings Account can be opened online through a secured application portal. The info page about the account says a max of $500 is accepted coming from an external account.
This money in the bank deal allows three withdrawals every month. It will cost you $5 per transaction. The bank may also convert your account into another account if you repeatedly go over this transaction limitations or the bank can close your account.
The bank is a new bank which was established just in 2007. Franklin Synergy Bank is based in Franklin, Tennessee. It has small operations with assets amounting to $221 million and deposits at $173 million.
BauerFinancial still tags this bank as a start up institution while bankrate.com issued 3 stars for soundness and safety.
The bank is covered by the FDIC with certificate number 58714.
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