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10 Best Banks in Tennessee

10 Best Banks in Tennessee!

This article highlights the Best Banks in Tennessee.

Multiple banks provide a variety of accounts, making it difficult to select the finest financial institution. If you live in Tennessee or want to move there in the near future, it is imperative that you research the top banks in the area.

Typically, there are more than one hundred state-chartered banks in Tennessee. Additionally, the state is home to numerous credit unions, online banks, and national banks. However, what are the top banks in Tennessee?

In order to identify the Best Banks in Tennessee, please read the following guide.

If you are also concerned about the Annual Percentage Yield (APY) and what these financial institutions have to offer, we will demonstrate how much you stand to gain by banking with these organizations.

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List of the Best Banks in Tennessee

The following is a list of the Best Banks in Tennessee:

1. Ally Bank

Best Banks in Tennessee

Since 2009, Ally Bank has been the bank where Americans save money. There is a benefit to banking at Ally Bank.

Annual yield on Ally’s online savings account is 3.30 percent (APY). This Best Banks in Tennessee also offers an Interest Checking Account with an annual percentage yield (APY) of 0.10% for accounts with a minimum daily balance of less than $15,000.

The annual percentage yield on accounts with a minimum daily balance of $15,000 or more is 0.25 percent (APY). Both accounts have no monthly maintenance fees and no minimum opening deposit.

Currently, Ally Bank has a mobile banking application. The application is compatible with both Android and iOS, so you can download it on your device.

The mobile application of Ally includes a unique function. With the Ally mobile app, you may send and receive payments via the Zelle service. The mobile application also has an ATM location and digital account statements, among other features.

Ally Bank account users have free access to AllPoint ATMs across the United States.

2. CIT Bank

CIT Bank is another Tennessee-based financial company that provides customer perks. The Saving Builder account is a high-interest account that provides CIT savings account members with additional perks.

Whether or whether consumers have considerable savings, they have access to the CIT’s highest rate of 1.00% (APY). Now, you will earn the APY of 1.00% if you satisfy the bank’s $100 minimum and deposit the same amount monthly or maintain a minimum account balance of $25,000.

If you do not achieve this requirement, your APY will be 0.40%.

CIT Bank, like Ally Bank, has a mobile app that allows consumers to conduct a particular transaction, view account balances, and view transaction history.

If you have ever contemplated diversifying your banking portfolio, CIT offers a vast array of possibilities, including money market accounts, jumbo certificates of deposit with terms ranging from two to five years, and normal term certificates of deposit with terms ranging from six months to five years.This is another Best Banks in Tennessee.

3. Fifth Third Bank

Next on our list of the Best Banks in Tennessee is Fifth Third Bank.

J.D. Power’s Retail Banking Satisfactory Study identifies Fifth Third Bank as the financial institution with the most satisfying banking experiences in Tennessee.

Fifth Third Bank is the appropriate financial institution for you if you are seeking for a bank that offers a wide variety of account options. Fifth Third Bank provides customers with free checking accounts.

This Best Banks in Tennessee also provides students and military people with special accounts. The Fifth Third Bank provides Savings accounts, CDs, and MMAs. Students can benefit from the 529 college savings programs offered by the bank.

The mobile app of Fifth Third Bank includes a unique feature. Using the bank’s mobile app, you can review your account history for the previous six months, locate the nearest branch ATM, and conduct other transactions.

The application also has a widget that allows users to view their account balances without logging in.

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With about 40 locations throughout Tennessee, FSBNB is one of the top banks in the Volunteer State.

There are other FSNB branches in nine states across the country. If you travel between states in the United States, you might discover an FSNB branch there.

FSNB is one of the Best Banks in Tennessee that provides excellent basic banking services. If you’ve ever pondered combining a savings account and a basic checking account, FSNB is the best bank for you.

You may do so if you like, as FSNB permits it. Simply deposit $5 to create a savings account and you will get an annual percentage yield of 0.10%. (APY). However, you must maintain a minimum account balance of $25.

If your account balance is at least $75, you will not be charged a monthly fee. Additionally, if your account balance exceeds $5,000, you will earn a higher interest rate of 0.25%.

FSNB is one of the banks where a $5 minimum deposit is required to start an account. Maintaining an account balance of $75 will exempt you from monthly service fees.

Lastly, after you maintain a $500 minimum account balance, you will earn 0.05% APY interest.

5. FirstBank

Best Banks in Tennessee

FirstBank has a number of branch sites around Tennessee. Regardless of FirstBank’s size, it remains one of the banks with a robust selection of accounts.

FirstBank, one of the Best Banks in Tennessee, enables customers to save savings through simple savings and money market accounts. In addition, the bank permits customers to connect basic savings accounts or MMAs with checking accounts.

Account holders with a daily balance of less than $25,000 are eligible for a 1.5% APY. In addition, if your daily account balance exceeds $25,000, you will earn an APY of 0.15 percent.

FirstBank provides additional services to its consumers. The bank also offers a variety of credit card alternatives, including the FirstBank card’s cash-back incentive.

6. U.S Bank

U.S. Bank is one of the Best Banks in Tennessee. This bank provides an extensive selection of checking and savings accounts. U.S. Bank is a bank that offers a variety of accounts, so you can find the type of account you seek there.

US. Bank has your back when it comes to loans, mortgages, credit cards, and investments. It is a dependable financial organization in which many Americans have placed their trust over the years.

Other U.S. Bank branches exist around the United States. The roughly 100 branches in Tennessee pale in comparison to the thousands of branches dispersed around the United States.

There are currently over 3,000 U.S. Bank branches in various locations throughout the United States. Please be advised that U.S. Bank has low yearly percentage yields (APYs).

7. Truist Financial Company (Merger of BB&T and SunTrust Banks)

Truist Financial Corporation is one of Tennessee’s finest banks. Currently, Truist Financial Corporation is one of the nation’s 10 largest banks.

Truist Financial Corporate is presently the seventh largest bank in the United States, with more than 2,000 branches in several states, including Washington, D.C.

Truist is a reputable financial organization that provides commercial banking, mortgage, insurance products and services, as well as many other products and services. With its BB&T Student Checking account, this bank also provides services for students.

Students can find one of the 48 BB&T branches throughout the state of Tennessee. If you are a student in Tennessee under the age of 23, you are eligible for the BB&T Student Checking account.

As a student, you can open a Truist account without making a deposit. In addition, students are not charged any fees to maintain their accounts.

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8. Regions Bank

Regions Banks is next on our list of the Best Banks in Tennessee.

Several Regions Bank branches are located throughout Tennessee. It is one of the state’s banks that offers the best checking accounts for students.

Regions Bank offers checking accounts to students younger than 25 years old. At Regions Bank, students can start an account for just $50. This bank continues to be one of the most trustworthy financial institutions from which consumers can obtain loans and other financial services.

9. Bank of America

Bank of America is a trustworthy financial company that makes banking convenient and adaptable. It allows consumers to switch between its three levels of checking accounts based on their individual requirements.

Safe balance is the most fundamental type of checking account, while advantage relationship checking is the highest.

Bank of America operates multiple branches in Tennessee. Approximately thirty branches are located in various cities throughout the state. Additionally, Bank of America has other branch locations around the United States.

10. First Citizens Bank

Best Banks in Tennessee

This concludes our ranking of the Best Banks in Tennessee.

First Citizens Bank offers one of the most versatile and advantageous money market accounts. If you reside close to a First Citizens branch, you can take advantage of this opportunity.

Most money markets in the United States impose federally mandated limits on the number of withdrawals an account holder may make. However, you have access to limitless transfers and withdrawals at First Citizens Bank.

Recently, First Citizens Bank announced that it will lower or eliminate fines for overdrafts and insufficient funds.

The bank will no longer assess NSF fees of $36 for returned or unpaid transactions. The current overdraft cost is $10, down from $36.

FAQs On Best Banks in Tennessee

Is Bank of Tennessee good?

Many convenient locations make this banking group a good choice, but the big plus is the staff; everyone I've ever dealt with at any location has always been extremely helpful, friendly and professional. It makes the banking experience more personal without feeling intrusive.

What is the largest bank Tennessee?

First Horizon Corporation is a bank holding company based in Memphis, Tennessee. Its banking subsidiary, First Horizon (formerly First Tennessee), is the largest bank in Tennessee and the fourth largest regional banking company in the Southeast.

Is Bank of Tennessee a local bank?

Bank of Tennessee, along with our divisions, Carter County Bank and Mountain Community Bank, is a locally owned and operated community bank focused on improving the financial health and well-being of our customers and our communities.

What is the largest credit union in Tennessee?

ECU has over 290,000 members and over $7.5 billion in assets. It is the largest credit union in the state of Tennessee by asset size.


Several financial organizations that offer savings and checking accounts are located in Tennessee. We have compiled a list of the best banks in Tennessee and the services they provide to consumers.

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