One Bank of Tennessee Review

One Bank of Tennessee Savings

0.01% APY

One Bank of Tennessee first started operating in 1901 and its headquarters are located in Cookeville, Tennessee. It owns $778 million in assets and deposits totaling $710 million, making it a medium-size bank. One Bank of Tennessee lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.2 stars out of 5, One Bank of Tennessee proves it is a great bank that you should seriously consider. 

One Bank of Tennessee offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. One Bank of Tennessee has a fair savings rate compared to the average savings account. Why keep checking and savings accounts with the same bank? Fast transferring between both accounts means you can still get better interest rates in your savings account but still use your money from your checking.

Service Quality

One Bank of Tennessee is a brick-and-mortar bank, with 14 total bank locations in Tennessee. It also offers access to mobile and web apps for an easy mobile-banking experience.  

One Bank of Tennessee's online and mobile banking platforms receive high marks from customers: the One Bank of Tennessee mobile app is rated at 4.5 out of 5 (out of 69 reviews on iOS and Android) compared to the national average of 3.8. You can use One Bank of Tennessee's mobile app to manage your bank accounts by reviewing monthly statements, sending and receiving funds and accessing customer service. One Bank of Tennessee gets an outstanding consumer satisfaction score due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

One Bank of Tennessee has several deposit products like savings accounts, checking accounts, money market accounts and CDs, providing you with many options to manage your money. One Bank of Tennessee does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. One Bank of Tennessee's CD rates are competitive compared to the average U.S. bank.

Rates

One Bank of Tennessee has a savings rate of 0.01%, which is poor in comparison to the average U.S. bank. Its one-year and five-year term lengths CD's earn at a rate of 0.10% and 0.75%, respectively, while its highest-yielding money market account has a rate of 0.05%. Given its below average savings rate, you should contemplate opting for higher earning savings accounts with other banks.

Fees

There is insufficient data on One Bank of Tennessee's fees to provide a full SmartAsset rating.

Financial Health

One Bank of Tennessee is currently a medium-size bank and owns $778 million in assets as well as deposits totaling $710 million. One Bank of Tennessee's Texas Ratio is 0.87%, indicating that One Bank of Tennessee is in superb financial shape and exceedingly unlikely to fail. Additionally, One Bank of Tennessee is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a One Bank of Tennessee Near Me

One Bank of Tennessee has 14 locations in the U.S.