Choosing the right bank can be a big decision, affecting everything from your day-to-day financial transactions to long-term investments and savings. In Tennessee, you’re in luck: the state offers a mix of local community banks, regional powerhouses, and national giants, each with their own set of perks and services. Whether you’re looking for top-notch customer service, the best interest rates, or an extensive ATM network, you’ll find a bank that suits your needs.
14 Best Banks in Tennessee
In a state as diverse as Tennessee, it’s no surprise that the banking options are equally varied. Our list of the best banks in Tennessee offers a blend of personal and business banking services, cutting-edge digital platforms, and solid financial stability. From established names to growing newcomers, these banks represent the best of what Tennessee has to offer in banking.
1. U.S. Bank
U.S. Bank is a strong contender for those looking for a well-rounded banking experience in Tennessee. Offering the local touch you might expect from a community bank, the bank also provides an extensive range of services often associated with national banking giants.
2. SoFi
SoFi distinguishes itself as a modern online bank offering attractive interest rates. With up to 4.20% APY on savings and 0.50% APY on checking—plus no monthly fees—you can grow your money effortlessly.
3. Fifth Third Bank
Fifth Third Bank is a major banking institution in the Midwest and Southeast, including Tennessee, with a network of 1,087 full-service branches spread across 11 states. The bank offers a broad spectrum of financial products, catering to both basic and complex financial needs.
4. Regions Bank
Regions Bank is a strong contender for your banking needs in Tennessee, boasting nearly 200 branches in key cities such as Brentwood, Clarksville, Cleveland, Jackson, Johnson City, Knoxville, Memphis, Murfreesboro, and Nashville.
5. Upgrade
Upgrade is an excellent choice for those in Tennessee seeking a modern, digital banking experience. Upgrade Rewards Checking Plus offers up to 2% cash back on everyday purchases, making it a unique option for those who want to be rewarded for their spending.
6. FirstBank
FirstBank serves as a dedicated community bank, with a history that dates back to 1906. Committed to fulfilling the financial needs of its local customers, the bank offers a comprehensive suite of personal banking services.
7. Eastman Credit Union
Eastman Credit Union was founded in 1934 and based in Kingsport, Tennessee. It offers a wide range of financial services to those who live, work, or go to school in specific communities, or meet other requirements.
8. Cadence Bank
Cadence Bank has grown from humble beginnings into a regional bank with branches across multiple states, including Tennessee. Locations across the Volunteer State include notable cities like Memphis, Brentwood, Chattanooga, Franklin, and Germantown.
9. Truist Bank
Truist Bank distinguishes itself with a unique set of features and rewards that cater to a diverse range of financial needs for Tennesseans.
10. First Horizon Bank
First Horizon Bank is a regional bank with a notable footprint in Tennessee and other Southeast states. In Tennessee, the bank offers convenience through fee-free ATM transactions at numerous First Horizon locations.
11. Wilson Bank & Trust
Wilson Bank & Trust stands as a well-established local bank with 29 branches specifically catering to the communities in middle Tennessee. Offering a diverse range of financial products for both individual and business needs, you can find checking and savings accounts, CDs, IRAs, and Health Savings Accounts (HSAs).
12. Chase Bank
Chase Bank is the largest bank in the U.S., operating an extensive network of branches and ATMs across 48 states and the District of Columbia, and offering a plethora of financial products.
13. Bank of America
Bank of America is one of the largest national banks in the U.S., with a vast network of ATMs and branches that stretches across the country, including several locations in Tennessee. The bank’s offerings are comprehensive, covering everything from basic checking accounts to advanced wealth management solutions.
14. Bank of Tennessee
Bank of Tennessee is a community bank that has been locally owned and operated since its establishment in 1974. Headquartered in Kingsport, the bank serves its customers through a network of 21 branches across Tennessee and North Carolina.
How to Choose the Best Bank in Tennessee
Choosing the right financial institution can have a significant impact on your financial well-being. Whether you’re a long-time Tennessee resident or new to the area, you might be wondering how to identify the best banks in Tennessee for your needs. To make an informed decision, here are some important factors to consider:
- Location and accessibility: One of the first things to look at is the bank’s geographic coverage. Is there a branch or ATM conveniently located near your home or workplace? Many of the best banks in Tennessee have branches in major cities like Nashville, Memphis, and Knoxville, but make sure you also consider your access to these locations if you live in a smaller town or rural area.
- Range of services: What kind of banking services do you need? Some banks excel in personal banking, offering great rates on savings accounts, CDs, and various loan products. Others might specialize in business services like business checking accounts and commercial loans. Make sure the bank you choose offers a comprehensive range of services that align with your financial goals.
- Fees and rates: Banks can have various fees, such as monthly maintenance fees, ATM fees, and overdraft charges. These fees can eat into your savings over time, so look for a bank with a fee structure that matches your banking habits. Similarly, if you’re looking for places to grow your money, consider the interest rates on savings accounts and CDs. Some of the best banks in Tennessee offer competitive interest rates that can help your money grow faster.
- Online and mobile banking: An easy-to-use online banking system can make your life simpler. Check if the bank has a user-friendly website and mobile app where you can perform transactions like fund transfers, bill payments, and mobile check deposits. The best bank in Tennessee for you should offer modern and secure digital platforms to manage your finances effectively.
- Customer service: Quality customer service can make a world of difference, especially when you encounter issues that require prompt resolution. Whether it’s 24/7 customer support or in-branch service, evaluate the bank’s reputation in this area to ensure you will get the assistance you need when you need it.
- Reviews and recommendations: Don’t underestimate the value of word-of-mouth and online reviews. Talk to friends, family, or colleagues about their experiences with local banks. Online reviews can also provide valuable insights into customer satisfaction levels, which can help you make an informed decision when searching for the best bank in Tennessee.