Local Memphis Banks with the Best CD Rates

When shopping around for the highest certificate of deposit interest rates, it helps to look at local financial institutions. Generally, smaller banks are especially invested in the communities they serve and thus, make providing the best rates to customers a top priority.

However, finding the best CD rates in Memphis can be tough if you don’t know where so start, so we’ve compiled the best rates across various term lengths for community banks in the area.

Memphis Banks with the Best 6-Month CD Rates

• Citizens Savings Bank and Trust Company Nashville Tennessee: 0.66%
• Tri-State Bank of Memphis: 0.31%

Highest 12-Month CD Rates from Memphis Banks

• Citizens Savings Bank and Trust Company Nashville Tennessee: 0.91%
• MAGNA BANK: 0.9%
• Tri-State Bank of Memphis: 0.4%

Best 24-Month CD Rates from Memphis Banks

• Citizens Savings Bank and Trust Company Nashville Tennessee: 1.06%
• MAGNA BANK: 1%
• Tri-State Bank of Memphis: 0.5%

Please note that these rates are accurate as of May 19, 2011 but are subject to change at any time.