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Tennessee State Bank Review

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Tennessee State Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Tennessee State Bank started in 1972 with its headquarters in Pigeon Forge, Tennessee. Tennessee State Bank owns $647 million in assets and $572 million in deposits, which makes it a medium-size bank. Tennessee State Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 3.6 stars out of 5, Tennessee State Bank should be near the middle of the pack in your search for a bank. Tennessee State Bank provides customers with a diverse array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product carries a $5.00 monthly fee, which ranks on the higher end of monthly fees. Finding an institution with no-fee checking and a high interest rate savings account is the best option for getting the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Tennessee State Bank has a savings rate of 0.15%, which is poor in comparison to other U.S. banks. Tennessee State Bank's one-year CD has a rate of 1.00% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account has an APY of 0.30%. Given Tennessee State Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Tennessee State Bank's Savings Rates Compare

Tennessee State Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Tennessee State Bank charges its customers high fees in comparison to the average U.S. bank. At $5.00/month, Tennessee State Bank is less than ideal for those who want a simple banking experience. Tennessee State Bank does not refund out-of-network ATM charges, which means you'll need to locate a Tennessee State Bank ATM or accept the withdrawal fee.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Tennessee State Bank is a brick-and-mortar bank, with 16 total branches in Tennessee. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Tennessee State Bank's online and mobile banking services get poor feedback from customers. The Tennessee State Bank mobile app has been given a 3.4 out of 5 (out of 90 ratings on Apple and Android) compared to the national average of 3.8. You can access Tennessee State Bank's mobile app to manage your bank accounts by monitoring current statements, sending and receiving money as well as accessing customer service. Tennessee State Bank receives an exceptional consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Tennessee State Bank is currently a medium-size bank and manages assets totaling $647 million as well as $572 million in deposits. Its Texas Ratio is 18.29%, indicating a small opportunity of failure. Additionally, Tennessee State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Tennessee State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.60% APY
  • 36 Month: 1.70% APY
  • 48 Month: 1.85% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.2% APY $2500

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

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Find a Tennessee State Bank Near Me

Tennessee State Bank has 16 branches in the U.S.

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