Best Banks in Tennessee 2024

With over 7,000,000 residents, Tennessee is home to a wide selection of brick-and-mortar banks and credit unions. Thanks to technological advances, several online-only banks offer a range of services to customers nationwide as well.

Choosing the right financial institution to meet your personal or business needs may seem daunting. To help, we’ve researched dozens of banks across the state to provide you with recommendations for the best banks in Tennessee.

12 Best Banks in Tennessee

We evaluated Tennessee banks based on their accounts, fees, features, accessibility, and customer service. Here are the ones that topped the list:

  1. U.S. Bank: Best Checking Account Bonuses
  2. First Citizens Bank: Best Checking Accounts
  3. Bank of America: Best Mobile Banking
  4. Regions Bank: Best Branch Accessibility
  5. FSNB: Best for Military Members & Veterans
  6. Bank of Tennesee: Best Local Bank
  7. Fifth Third Bank: Best Customer Service
  8. Truist: Best for No Overdraft Fees
  9. First Horizon: Best for Small Businesses
  10. Wilson Bank & Trust: Best Travel Perks
  11. CIT Bank: Best Savings Accounts
  12. Ally Bank: Best Online Bank

1. U.S. Bank us bank logo

Best: Checking Account Bonuses

According to 2024 Federal Reserve data, U.S. Bank is the fifth largest bank in the nation. It has a significant presence in Tennessee, with most of its 55 branches in the Nashville Metropolitan and South Central area of the state.

It’s our top pick for checking account bonuses, regularly offering some of the most competitive promotions in the industry for new checking accounts.


Customers can turn to U.S. Bank for their personal banking needs as well as wealth and business management products.

Its suite of personal banking products includes bank accounts (CDs, money market, checking, and saving), credit cards, investing and retirement accounts, personal loans, lines of credit, mortgages, and auto loans.

While it doesn’t offer the most competitive rates, U.S. Bank’s Smartly rewards checking account comes with solid features, including automated bill pay, overdraft coverage, and instant Zelle transfers. Monthly fees can easily be waived on the account.


  • Account lineup
  • Large branch network
  • Offers overdraft coverage


  • Charges monthly fees
  • Mediocre APY


2. First Citizens Bank First Citizens Bank Logo

Best: Checking Accounts

First Citizens Bank is an FDIC-insured national bank headquartered in North Carolina. It serves customers at a handful of branches across Tennessee in Knoxville, Nashville, Franklin, Johnson City, and Chatanooga.

The bank regularly runs financial education programs to increase the level of financial literacy of its customers and is an equal housing lender. It’s also our top pick for checking accounts.


First Citizens Bank offers a variety of financial products for businesses and individuals, including CDs, IRAs, loans, and credit and debit cards. You can open checking and savings accounts online or through one of their branch locations and access online and mobile banking.

First Citizens Bank also has a helpful online questionnaire to guide customers to the account type that suits them best. Some accounts are free, while others come with monthly fees that many customers can avoid if they meet the criteria. With three flexible checking options, including a free one, it wins our vote for the best checking accounts.


  • Offers fee-free accounts
  • Wide variety of products
  • Helpful online tools


  • Fewer branches than competitors
  • Low savings APY


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3. Bank of America Bank of America Logo

Best: Mobile Banking

Bank of America has a strong presence in Tennessee, where it’s been operating for over 100 years. You can find bank branches and ATMs statewide using the bank’s branch locator.

Bank of America offers customers online and mobile banking services for easy access, and it tops our list for its excellent mobile banking experience. The app currently has over 5 million reviews in the App Store and Google Play store, with an average rating of 4.8 and 4.6, respectively.


Bank of America offers extensive personal and business financial services, credit and debit cards, and loans. Customers can access flexible, tiered checking account options with waivable fees and varying reward structures. With BankAmeriDeals, customers can also unlock up to 10% cashback at participating retailers when they spend money with their Bank of America debit card.

At the same time, those looking to save can choose from a range of savings accounts, CDs, and IRAs, along with Merrill investment, retirement planning, and wealth management services.


  • Highly rated mobile app
  • Excellent branch and ATM access
  • Lower overdraft fees than other large banks


  • Subpar savings rates
  • Monthly fees


4. Regions Bank “Regions

Best: Branch Accessibility

Regions Bank was founded in the 1970s and offers services across the South, the Midwest, and Texas. It has a substantial footprint in Tennessee, which it obtained through its merger with Union Planters Bank in 2004.

We awarded Regions Bank with the best branch accessibility—you can find more than 25 branches in Nashville alone.


Regions Bank provides financial services to individuals and businesses. Bank customers can open savings or checking accounts online and apply for credit cards, loans, and investment accounts.

You can apply for several checking accounts, including specialized accounts for teens and seniors. Most of the accounts are free or have waivable monthly fees and offer varying account benefits. For example, LifeGreen Preferred Checking earns interest, gives you relationship rates on CDs, and comes with discounts on other Regions Bank products.

Customers can also choose from four savings accounts, as well as CDs and MMAs. All the savings accounts are either fee-free or the monthly fees can be waived.


  • Free savings account option
  • Offers discounts and rewards
  • Specialized checking accounts


  • High overdraft fees
  • Low APY on most accounts


5. FSNB FSNB logo

Best For: Military Members and Veterans

FSNB, formerly Fort Sill National Bank, has over 40 branches throughout Tennessee, primarily located in Walmart locations across the state. While the website and app may not be quite as sleek or user-friendly as some competitors, customers can access popular online banking features like bill pay, early pay, and mobile deposits.

We commend FSNB for its specialized products for active duty military members and veterans, who can access financial resources, a perk-filled Military Advanced Checking Account, and a Military Smart Savings Plan with tiered interest rates.


FSNB offers various checking and savings accounts, loans, and credit cards. Some checking and savings accounts on offer come with no monthly maintenance fees. FSNB’s checking accounts earn varying interest rates and have a $5 opening deposit. Just note that you may need to apply in person for some accounts.

Customers can also access a standard savings account, CDs, and a unique Cents-able Savings account that rounds up debit card purchases and pays a high APY on your spare change.


  • Specialized military products
  • Flexible checking accounts
  • Savings round-ups


  • Mediocre user experience
  • Monthly fees


6. Bank of Tennessee bank of tennessee

Best: Local Bank

Bank of Tennessee is a mid-sized financial institution established in 1974 that offers its services through 21 branches across Tennessee and North Carolina. It wins our vote for the best local bank in Tennessee, with its primary focus being to serve communities throughout the state with hands-on customer service and partnership with local organizations.


Bank of Tennessee provides a full range of personal and business accounts and services, including CDs, money market accounts, IRAs, and brokerage accounts. There are four checking account options, from a free basic account to an Everything Perks account that earns interest and freebies.

You can also choose between a specialized savings account for short-term goals and an interest-bearing account. Customers with a checking and savings account can activate ChangeUP, which rounds up debit card purchases to boost your savings account.


  • Versatile product lineup
  • Extended drive-through hours
  • Community-focus


  • Minimum balance requirements
  • Monthly fees


7. Fifth Third Bank Fifth Third Bank Logo

Best: Customer Service

Fifth Third Bank is a nationally chartered financial institution and one of the 20 largest banks in the U.S. You’ll find more than 40 branch locations across 13 cities in Tennessee, and customers can access network and partner ATMs to facilitate cash withdrawals. Areas not directly served by a local Fifth Third branch may use digital banking to bridge the gap.

Fifth Third beat the industry average in the 2023 J.D. Power U.S. Retail Banking Satisfaction Study for banks in the Southeast. Between this accomplishment, its branch and ATM access, customer reviews, and mobile app ratings, it’s our pick for the best customer service.


Fifth Third Bank is a one-stop shop for business and personal banking. The range of personal financial products on offer includes investment and wealth management services, checking and savings accounts, CDs, money market accounts, and financing options.

Its standard checking account stands out, with no monthly fees or minimum balance requirements and fee-free overdraft transfers.

Fifth Third’s savings account has a waivable monthly fee and pays a small amount of APY, with features like the Smart Savings tool to help you set and reach financial goals.


  • Fee-free checking account
  • Branch accessibility
  • Savings tools


  • Subpar savings rate
  • High overdraft fees


8. Truist Truist Logo

Best For: No Overdraft Fees

Truist Financial Corporation is the result of a merger between BB&T and SunTrust Bank in 2019. It has a solid presence in the Volunteer State, with locations in over 50 cities throughout Tennessee.

Truist is our top pick if you’re looking to avoid overdraft fees—the bank doesn’t charge any overdraft-related fees, and it provides a $100 overdraft cushion to eligible accountholders with a Truist One Checking account.


Truist has bank accounts for individuals and businesses. Individual Truist customers can access checking and savings accounts, CDs, MMAs, credit cards, asset management services, lending, and insurance.

In addition to having no overdraft fees, the popular Truist One Checking account has a low minimum deposit, a waivable monthly fee, perks like credit card bonus rewards, and free checks.

Truist’s savings account rates are less than stellar, but the Truist One Savings account has a low opening deposit and an easy-to-waive monthly fee.


  • No overdraft fees
  • Checking account perks
  • Great user experience


  • Unimpressive savings rate
  • Account fees


9. First Horizon First Horizon Bank Logo

Best For: Small Businesses

First Horizon Bank (formerly First Tennessee Bank) is headquartered in Memphis, Tennessee, with more than 180 branches in and around the state.

The bank serves both personal and business banking clients, and we recommend it most to small business owners.


Individual bank customers can choose between multiple checking and savings accounts, CDs, MMAs, debit cards, loans, and credit cards. There are three flexible checking accounts, including both free accounts and paid rewards accounts. You can also open a traditional savings account with a waivable monthly fee that pays a slight amount of interest.

In terms of small business accounts and services, you can access multiple checking accounts, business credit cards, savings, MMAs, and CD accounts, along with SBA loans, cash management and payroll services, and investment resources.


  • Suite of business products
  • Free checking option
  • Branch access


  • Low savings APY
  • Monthly fees


10. Wilson Bank & Trust Wilson Bank and Trust Logo

Best: Travel Perks

Wilson Bank & Trust is a full-service local bank with more than 20 branches across middle Tennessee. The bank offers all the standard financial products you’d expect, with a range of digital banking services.

One of its most unique features is its focus on travel benefits. The bank’s Travel Club offers discounted pricing on a variety of trips, and it comes with complimentary travel planning. You can also open specialized Vacation Club savings accounts to be disbursed each May.


Wilson Bank & Trust customers can access business and individual bank accounts. The bank offers personal savings and checking accounts, CDs, loans, IRAs, and debit cards.

There are six checking accounts, including a cashback account, an interest-bearing account, and specialized options for students and hometown heroes. To waive most monthly account fees, you only have to enroll in e-statements. You can choose from several savings accounts as well, with varying interest rates and account fees.


  • Extensive account options
  • Easily waivable fees
  • ATM fee reimbursements


  • Average savings rate
  • Minimum deposits are required for some accounts


11. CIT Bank Cit Bank Logo

Best: Savings Account

CIT Bank is an FDIC-insured online-only bank that serves Tennessee residents. CIT Bank stands for Commercial Investment Trust Bank and forms part of the organization CIT Group.

CIT Bank offers most of the same services customers would have access to through a traditional physical bank. Online and mobile banking allows instant access to account balances, bill payment facilities, and transaction histories.

In our research, we found CIT Bank to be the best bank for Tennessee residents looking to open a savings account.


While it lacks small business products, CIT Bank offers a competitive lineup of personal accounts, including checking and savings accounts, CDs, MMAs, and loans.

CIT Bank’s interest rates are higher than those offered by most financial institutions, with its savings accounts outshining the competition. Customers can apply for a Platinum Savings account that pays over 5% interest on higher account balances, or open a Savings Connect account that earns 10 times the national savings average on their entire balance, with no account fees.


  • Competitive interest rates
  • Excellent user experience
  • No overdraft fees


  • No branch access
  • Requires minimum opening deposits


12. Ally Bank Ally Bank Logo

Best: Online Bank

Ally Bank is one of the most popular online banks in the market, and for good reason. While you won’t be able to access branches, the bank provides most of the services offered by traditional banks on a streamlined mobile banking platform that packs a punch.

Ally Bank is also renowned for paying higher interest rates than brick-and-mortar banks and credit unions, and for charging fewer account fees, standing out as the best online bank on our list.


Ally doesn’t offer business bank accounts; instead, it focuses on personal checking, savings, MMA accounts, CDs, IRAs, loans, credit cards, and investment services.

The Ally Spending account has no monthly fees or overdraft fees, and it offers convenient features such as 2-day early pay, ATM reimbursements, overdraft protection, and instant transfers to and from your Ally savings account. It also pays tiered interest on your account balance, with no minimum required to earn interest.

Ally’s online savings account pays a highly competitive APY and comes with no monthly fees, minimum deposit, or minimum balance requirements.


  • Free overdraft coverage
  • High APY for checking and savings
  • No monthly fees


  • No branch access
  • Can’t deposit cash


How to Choose the Best Bank in Tennessee

At, we’re committed to providing consumers with the resources they need to select a bank or credit union. Here’s an overview of the steps we recommend our readers take to choose a bank:

  • Understand different types of banks: You have access to traditional banks, online banks, credit unions, and neobanks. It’s important to understand the differences between them and determine which type of institution aligns best with your preferences.
  • Choose the right account: Checking, savings, money market, and certificate of deposit accounts are the most common types of bank accounts. Understand what each offers and choose a bank with the type of account(s) you need.
  • Look for low-fee banks: Account fees can add up quickly. As you compare bank accounts, look for an account that doesn’t charge unavoidable monthly maintenance fees, overdraft fees, and ATM fees.
  • Consider branch and ATM access: If having access to branches matters to you, choose a bank with physical locations. Regardless, you should prioritize banks that have a vast ATM network or reimburse ATM fees.
  • Compare account features: Determine which features you’re looking for. A few common bank account features to consider are interest, cashback, mobile features, cash deposits, and minimum account balance requirements.
  • Check out reviews and ratings: It’s crucial to pick a reputable bank. To get an idea of a bank’s customer experience, you can read expert reviews and look to sources like TrustPilot, the Better Business Bureau, and J.D. Power.
  • Read the fine print: Don’t sign up for an account without understanding the terms and conditions. Make sure the account is FDIC or NCUA insured and get a sense of its requirements, fees, and expiration dates for bank bonuses.
  • Look at the bank’s additional products: If you want to manage all of your finances under one roof, look into each bank’s additional products. A lot of banks also offer credit cards, wealth management, investment accounts, and loans.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews.

We evaluated digital financial platforms, online banks, regional banks, and national banks with a presence in Tennessee.

Our assessment of each bank factors in these considerations:

  • Product lineup: We review the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also consider each institution’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we take a close look at the features, limits, and capabilities each one has to offer.
  • Interest: Along with these features, we consider whether or not the bank offers interest-bearing accounts and compare their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC insurance.
  • User experience: Additionally, we consider the ease of use and availability of resources on each bank’s website and factor in reviews of the mobile app from the Apple App Store and Google Play Store.
  • Branch and ATM access: To gauge convenience, we also look at each bank’s branch and ATM availability and consider their ATM reimbursement policies.
  • Customer service: In our review process, we also explore their customer service channels, hours of availability, and third-party reviews.

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