Tennessee Commerce Bank is offering a 2.10% APY 2 year CD and a 2.50% APY 3 year CD, both with a minimum deposit of $2,500. These rates are available nationally and the early withdrawal penalty on both accounts is 6 months’ interest.
New accounts can be funded via ACH transfer, wire, or check. You can submit an application online, via mail, or fax. You’ll need 2 forms of ID to open a CD. Incoming wires are free while outgoing ones cost $25. You need to send a request in writing in order to close your CD at maturity. The do have ACH transfers available when you close your account which is pretty convenient.
Tennessee Commerce Bank has a 2 out of 5 star soundness rating from bankrate and is FDIC insured. To visit their website click here.
Category: CD Rates