Tennessee Commerce Bank is currently offering a 2.30% APY on a savings account with balances that are up to $100,000.00. This is for both personal savings accounts and business savings accounts. This account is good for those planning on saving only and not planning on using the savings account as a transactional account, since there are limitations on the savings account.
Some restrictions on the savings account are:
- There are only 6 minimum withdrawals and/or transfers per month (statement cycle); this is a minimum of 3 withdrawals for third parties.
- If excess withdrawals are made – the account can be closed by the bank.
For more details on this account please refer to Tennessee Commerce Bank’s deposit account agreement and disclosure.
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