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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


Started in 1972, Tennessee State Bank has assets totaling $647 million and $572 million in deposits, ranking the institution as a medium-size bank. Tennessee State Bank, whose headquarters are in Pigeon Forge, Tennessee, 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 an average 3.6 out of 5 stars, Tennessee State Bank proves it is an acceptable bank choice, but may leave you wanting more. Tennessee State Bank has the complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Tennessee State Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a $5.00 monthly fee, which places it at the higher end of monthly fees. Institutions that offer no-fee checking, in addition to a high interest rate savings account are your best option for returning the most income from your deposits alongside easy 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

With a savings rate of 0.15%, Tennessee State Bank ranks poorly compared to the average U.S. bank. Its CDs feature a rate of 1.25% and 2.25% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.30%. Given its below average savings rate, you should consider 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

On average, Tennessee State Bank charges its customers high fees compared to the national average. At $5.00/month, Tennessee State Bank is less than ideal for those who want a basic checking account. Tennessee State Bank does not refund out-of-network ATM charges, meaning you will need to locate a Tennessee State Bank ATM or accept the ATM charge.

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 bank locations in Tennessee. With mobile and web apps, Tennessee State Bank makes mobile banking convenient, even on the go. Tennessee State Bank's online and mobile banking platforms receive poor marks from users. Out of 90 customer reviews on Apple and Android platforms, the Tennessee State Bank mobile app is scored at 3.4 out of 5 (compared to the national average of 3.8). You can utilize Tennessee State Bank's mobile app to manage your finances by looking at account balances, sending and receiving money and reaching support representatives. Tennessee State Bank receives an outstanding consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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 ranks as a medium-size bank with $647 million in assets and deposits totaling $572 million. Tennessee State Bank's Texas Ratio is 18.29%, denoting a small possibility 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: 1.25% APY
  • 24 Month: 1.75% APY
  • 36 Month: 1.95% APY
  • 48 Month: 2.10% APY
  • 60 Month: 2.25% APY
$1000 for all terms
Money Market Account 0.2% APY $2500

Tennessee State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Tennessee State Bank does not have the best savings rate, which means you should consider looking 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 other U.S. banks.

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Find a Tennessee State Bank Near Me

Tennessee State Bank has 16 physical locations in the U.S.

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