For a limited time, SouthEast Bank is offering a nationally available 9-month CD Special earning a competitive 5.25% APY. The minimum opening deposit is $1k, with no stated balance cap.
According to CSR, the Early Withdrawal Penalty for the 9-month CD Special is one month’s interest on the amount being withdrawn, with partial withdrawals allowed.
Availability and Account Opening
Headquartered in Farragut, Tennessee, SouthEast Bank has a brick-and-mortar presence in East and Middle Tennessee, stretching from near the Kentucky border to the Alabama border. Nearly four years ago, SouthEast Bank offered its first online, nationally-available CD (a 12-month Online Step Up CD). Online CDs at SouthEast Bank are definitely the exception, as less than a handful of online CDs have been part of the product line since 2019.
Opening the 9-month CD Special can be done online, or at any of 14 Tennessee branches, located in Athens, Chattanooga, Cleveland, Cookeville (2), Dayton, Decatur, Farragut, Knoxville (3), Lenoir City, Ooltewah, and Spring City.
Funding and Other Details
The following information is from the SouthEast Bank website and a conversation with CSR.
- Funding – ACH, wire, or check (in-branch only).
- Interest – Compounded/credited quarterly, but “Promotional CDs are NOT eligible for interest checks.”
- Maturing Funds – ACH, wire, cashier’s check to address on file, or internal transfer.
- Grace Period – 10 calendar days before automatic renewal.
- Beneficiaries – Unlimited, equal shares, Social Security numbers required.
- Credit check – ChexSystems
SouthEast Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 0.60% (excellent), based on June 30, 2023 data. In the past year, SouthEast Bank has increased its total non-brokered deposits by $105.57 million, an excellent annual growth rate of 6.17%. Please refer to our financial overview of SouthEast Bank (FDIC Certificate # 57348) for more details.
SouthEast Bank opened its doors in 2002 and was originally known as SouthEast Bank & Trust. Currently the ninth largest bank headquartered in Tennessee, SouthEast Bank has assets in excess of $2.2 billion. The Bank has established the SouthEast Bank Scholars Program.
Providing an exceptional education takes significant resources. Through our SouthEast Scholars program, we support several deserving colleges and universities across Middle and East Tennesee. Since 2006, we’ve given more than $20.8 million to benefit these institutions’ areas of greatest need. Whether by aiding with students’ tuition or purchasing much-needed school supplies, SouthEast Scholars funds are meant to fortify students’ journeys toward academic excellent.
How the 9-Month CD Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available nationally and have minimum deposit requirements of $10k or less, no institution has a higher rate than currently offered on the SouthEast Bank 9-month CD Special. The following table compares the 9-month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.
The above information and rates are accurate as of 4/3/2023.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.