First Tennessee Bank has another checking and money market promotion. You can receive up to $200 in bonuses for this new promotion by opening a checking and money market account. Here's the bank's promotions page link. The offer is scheduled to expire on 11/30/2011. Here's what is required to earn the full $200:
- $100 when you open any new checking account with direct deposit
- $100 when you open a Money Market Savings Account with at least $10,000
You can also qualify for an additional $196 in bonuses, but this requires that you open a real estate secured portfolio loan. The extra $100 is for the loan, and $96 is for taking advantage of all three offers.
Below are the important details of the offer's small print. I added lines between the major sections. I also excluded the info on the money market rate tiers. As you might expect, the rates are very low. The top tier rate is only 0.25% for balances of at least $100K.
Checking Bonus: Receive $100 bonus when you open a new checking account with at least $300 by 11/30/11 and at least one direct deposit posts to this account within 60 days of account opening. $100 will be credited to the "Bonus Checking Account" within six weeks after first direct deposit posts.
Savings Bonus: Receive $100 bonus when you have a new or existing First Tennessee checking account, then open a new Money Market Savings account with at least $10,000 by 11/30/11. $100 will be credited to savings account within six weeks after requirements are met.
Loan Bonus: Receive a $100 Visa® Gift Card when you apply by November 30, 2011, mention this offer, and open a real estate secured portfolio loan. The Visa Gift card will be mailed to you approximately four weeks after you've closed on your loan. Visa is not a sponsor of this promotion. The Visa Gift card is a prepaid card welcome everywhere Visa Debit cards are accepted.
Special $96 bonus: If you take advantage of all three offers (checking, savings, loan) by the stated deadlines, you will receive a $96 bonus, which will be credited to the Bonus Checking account by 1/31/12. You are not required to open all accounts the same day.
Other restrictions: Opening deposits cannot be transferred from existing First Tennessee accounts. Your account(s) must be open and in good standing at the time the credit is issued, and you agree to maintain the account in good standing for at least six months. Limit one checking, savings, loan, and $96 bonus per household. Cannot be combined with other offers. Checking and savings bonuses are not available for accounts opened online, and are for new checking and savings households only. Account openings are subject to bank approval. Loans and lines of credit are subject to credit approval.
Checking and Money Market Savings Accounts
The bank no longer offers a free checking account. You can compare the available checking accounts at this page. You can have the monthly fees waived for the Express Checking with direct deposit. For the Select Checking it takes both direct deposit and at least 15 debit transactions per month.
The Money Market Savings account requires a $5K balance to avoid a $9/month fee. You can also avoid the fee with a qualifying checking account.
Availability & Branch Locations
The promotion requires that you print a certificate which you take to one of their branches. The vast majority of their branches are located in Tennessee.
There are a couple of branches in North Carolina, but some of these don't seem to be for personal banking. Branches are located in several Tennessee cities including Cleveland, Nashville, Greeneville, Morristown, Chattanooga, Jackson and Knoxville.
First Tennessee is a large bank with over $24 billion in assets. It has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 21.73% (average) based on June 2011 data. Please refer to our financial overview of First Tennessee Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 4977).
Other Bank and Credit Union Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.