First Tennessee Bank Promotes Money Market Introductory Rates

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Deal Summary: Money Market Savings introductory rates – 1.50%, six months, $50k min; 1.00% APY, four months, $25k min; 0.75% APY, three months, $10k min

Availability: Market area includes Alabama, Arkansas, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, and Virginia.

Now through May 31, 2017, First Tennessee Bank, National Association (First Tennessee) is offering special introductory rates on its Money Market Savings account.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%--First TennesseeMoney Market Savings – 1st 6 mos. intro rate w/ active checking
1.00%--First TennesseeMoney Market Savings – 1st 4 mos. intro rate w/ active checking
0.75%--First TennesseeMoney Market Savings – 1st 3 mos. intro rate w/ active checking
Accounts mentioned in this post. Rates as of May 28, 2017.

According to the fine print on the promotion page,

The introductory rate is available for new Money Market Savings (Savings) customers, or for existing Savings customers who make an additional deposit of the stated minimum amount.

The Money Market Savings’ $9 monthly fee will be waived if the “combined deposit balances in First Tennessee accounts is at least $5,000.”

To be eligible for these introductory rates, you must have a new or existing First Tennessee personal checking account, and a maintain a minimum $1k balance during the introductory rate period. And speaking of checking accounts,

Get $200 when you open a new checking account with direct deposit.

Like the Money Market Savings offer, the $200 checking bonus is available now through May 31, 2017, and is available to residents of Alabama, Arkansas, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, or Virginia.

$200 Bonus Requirements

  • Opening deposit of at least $300 (cannot be transferred from existing First Tennessee accounts.
  • At least one direct deposit within the 60 days of account opening.
  • Must be new checking account customers, or have not had an open First Tennessee checking account for at least 12 months
  • Limit one bonus per household
  • Account must remain open and in good standing for at least six months
  • Bonus will be credited to account within six weeks of the first direct deposit.

All six First Tennessee Bank checking accounts (Express, Classic, Select, Premier, Premier Plus, and MAP) qualify for the bonus. There are monthly service charges attached to all the checking accounts (Express $7, Classic $8, Select $9, Premier $12, Premier Plus $6, MAP $25), but they can be waived, with the exception of the Classic Checking $8 charge.

Availability

Headquartered in Memphis, First Tennessee Bank’s market area for both promotions includes Alabama, Arkansas, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, and Virginia. As stated earlier, the Money Market Savings introductory rate offer and the $200 checking bonus are available through May 31, 2017.

Applying for the Money Market Savings promotion can be done online using the code “SVPRMO”, or at any of 154 locations, the vast majority of which (150) are located in Tennessee. If opening in-branch, a copy of the offer must be presented when opening.

If you wish to open your Money Market Savings account online, your opening deposit will usually be limited to $2,000. Please use promo code SVPRMO in your application if you wish to receive an intro rate. Once the opening deposit has been made online, you may make any additional deposit within 30 days of account opening to qualify for your desired intro rate. We recommend that you make your additional deposit in a financial center and mention that you are interested in the intro rate offer. Your intro rate will be put into effect based on your total deposit amount.

Applying for the $200 checking bonus and opening a new checking account may be done online using the code “QCH200,” or by opening the account and presenting a copy of the offer at any of First Tennessee’s branch locations.

Bank Overview

First Tennessee Bank, National Association has an overall health rating of "A" on DepositAccounts.com, with a Texas Ratio of 6.29% (excellent), based on September 30, 2016 data. In the past year, First Tennessee Bank has increased its total non-brokered deposits by $1.45 billion, an excellent annual growth rate of 7.58%. Please refer to our financial overview of First Tennessee Bank, National Association (FDIC Certificate # 4977) for more details.

In March 1864, Frank S. Davis realized the potential of the National Banking Act of 1863 and opened Memphis' first national bank. That bank grew into today's First Horizon National Corporation, the parent company of First Tennessee Bank and FTN Financial. First Tennessee Bank is currently the largest bank in Tennessee and the 61st largest bank in the country, with assets in excess of $28 billion.

Other Bank Promotions and Bonuses

Not eligible for First Tennessee’s bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.


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