Dedicated to Deposits: Deals, Data, and Discussion

2.78% 11-Month Online CD at Franklin Synergy Bank - Nationally Available


Franklin Synergy Bank
Update 7/16/09: The eCD rate has fallen to 2.25% APY with a term of 12 months.
Update 7/13/09: The eCD rate has fallen to 2.50% APY with a term of 12 months.
Update 7/11/09: The eCD rate has fallen to 2.70% APY, and the term is now 12 months.

Franklin Synergy Bank is offering an online certificate of deposit called the eCD. It has a 2.78% APY and an 11-month term. This rate is listed at the bank's Online Products page as of 7/03/09. There's also an E-Savings account listed, but the rates aren't that great and it requires a checking account.

I last posted on this bank in May when this eCD had a 5-month term. When I called the bank in May, I was told that the account can be opened online by people from any state. The application link is at the bottom of the eProducts Page. I wasn't able to get many details from the CSR. I recommend calling for more details if you're interested in this CD. The bank's phone number is listed on the right hand side of this application page (615-236-2265). The online application allows for two POD beneficiaries.

Update 7/13/09: Some more details about the eCD that I received from email:
  • $1,000 minimum deposit
  • CD can be funded either by wire transfer or check by mail
  • Rate is locked at the time of application

The bank is a fairly new bank that was established in 2007 with headquarters in Franklin, Tennessee. It's a small bank with $221 million in assets and $173 million in deposits. Since it's new, BauerFinancial doesn't have a rating for it. gives the bank 3 stars (performing) based on 12/31/08 financial data. The bank is a member FDIC (FDIC Certificate # 58714).

Other High Certificate of Deposit Rates

Related Pages: Tennessee, CD rates, Franklin Synergy Bank

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Comment #1 by Anonymous posted on
The eCD is not really 'e'. You cannot fund the opening deposit via ACH xfer. Per the CSR, they only accept checks or wire xfers. Same problem with the checking account -- either come in, mail a check or do a wire xfer.

Comment #2 by Anonymous posted on
I was told by a CSR that they accept opening deposits by ACH transfer but when you use their online application that option is not available. I'm still waiting for an e-mail response to see which way is it but they seem to be very slow with a response. Also the eCD is now a 12-month 2.70% APY.

Comment #3 by Anonymous posted on
I was told on Friday by a CSR that the advertised rate locks when you apply for their eCD. I hope he is correct becuse the rate continues to drop as of Monday morning at 2.50% APY for 12-months.

Comment #4 by Anonymous posted on
Their eCD seems to drop in APY virtually everyday of the week. The bank's web site now shows 2.25%APY for 12-months.