Tennessee Commerce Bank is offering 2.30% APY on their TCB Savings Account for balances up to $100,000. For over $100,000 the rate is 1.5% APY.
One catch with the account is it only allows one free withdrawal per month and each additional is $2.50. This offer is available nationally and there’s a $250 minimum balance to avoid a $2,50 monthly fee. There’s no hard credit pull when opening an account and you can fund the account via ACH transfer, wire transfer, or check. You will have to mail in some forms and proof of identification to open an account.
TCB is also offering some good CD rates including 2.40% APY for 1 year, 2.45% for 18 months, 2.87% for 2 years, 3.27% for 3 years, 3.45% for 4 years, and 3.65% for 5 years. The minimum deposit for certificate of deposits is $2,500. These rates are also available as IRA CD interest rates.
A few more facts you should know about the CD and IRAs. The rate locks 10 days after you fill out the application, which isn’t great and again you’ll be required to mail in some forms and ID. If you want to close the CD you must provide written confirmation. The early withdrawal penalty is 90 days’ interest for terms under 2 years and 180 days’ interest for over 2 years. There’s a 10 day grace period at maturity to renew or withdraw your account. You can withdraw via ACH transfer, check, or wire transfer.
Tennessee Commerce Bank only has one branch in Franklin, Tennessee and has a 3 out of 5 star soundness rating from bankrate. TCB is an FDIC insured bank. Check out their business savings account while you’re at it.
Please send me an online application for a savings account.
You’ve got to go to Tennessee Commerce Bank for that, their link is in the post.
Please foward instructions and forms to open 2.3% apy savings account. Also include your toll free phone number.
We only review banks, you’ll have to contact Tennessee Commerce.
send app for mm account
I woul like to set up three accts . One for my wife, myself and a joint acct.
Are the rates shown on this web page the current rates for savings accounts and CDs ?
No, only at the time of its posting. You’ll have to check their site for their current rates.
Please send current information for Jumbo CD. We will have one to buy on March 25, 2010. Email me for my phone number to discuss this.
Pls send applications for MM and CD purchases. Email contact phone number.
@David Astle
Please send applications for MM and CD purchases,your mailing address ,phone# and e mail address. The account will be opened as a trust acconut with myself being the trustee,so I will also need any papers that need to be filled out for that.
Thanks,
Saroj W. Gulati
please tell me if you do have a jumbo CD paying 5.5% and how long do you have to invest in this for this rate? Also, send me an aplication to open up a CD account. Thank you.