Knoxville, Tennessee Savings Rates - July 2026
Brian McKay
Brian McKay
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The best savings rates for Knoxville, Tennessee and the surrounding area include FsnbFsnb6777 Clinton Hwy, Knoxville, TN 37912A5.0 ★Texas Ratio: 12.00%Real return: +4.20%APY minus 2.8% CPI (February 2026) Cents-able Savings at 7.00% APY, Knoxville TVA Employees Credit UnionKnoxville TVA Employees Credit Union1316 Wilson Rd, Knoxville, TN 37912A+5.0 ★Texas Ratio: 3.25%Real return: +1.48%APY minus 2.8% CPI (February 2026) Educational Savings Plan at 4.28% APY, U TU T2100 White Ave, Knoxville, TN 37916 2216A+5.0 ★Texas Ratio: 1.45%Real return: +0.85%APY minus 2.8% CPI (February 2026) U Earn Savings at 3.65% APY, Knoxville Teachers Federal Credit UnionKnoxville Teachers Federal Credit Union711 N Hall of Fame Dr, Knoxville, TN 37917 6722A+5.0 ★Texas Ratio: 5.28%Real return: +0.80%APY minus 2.8% CPI (February 2026) Regular Shares at 3.60% APY, and Y-12 Federal Credit UnionY-12 Federal Credit Union6640 Clinton Hwy, Knoxville, TN 37912 1016A+5.0 ★Texas Ratio: 2.88%Real return: -0.80%APY minus 2.8% CPI (February 2026) Jump Start Savings at 2.00% APY.
Knoxville has 60 local institutions in our database, with savings rates as high as 7.00% APY from Fsnb at 6777 Clinton Hwy, Knoxville, TN 37912. Use the table below to compare all available offers, including options from institutions serving the broader Tennessee area. Rates are continually updated — we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Knoxville, Tennessee and the surrounding area. Last Updated and Verified: July 11, 2026
Compare the Best Savings Rates in Knoxville, Tennessee & Surrounding Communities
Minimum Balance to Open Account: $5.00
Must be open for a minimum of three years and pays out on your child's college entrance date or 18th birthday, whichever comes first. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details. APY effective as of July 2026. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
Must be open for a minimum of three years and pays out on your child's college entrance date or 18th birthday, whichever comes first. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details. APY effective as of July 2026. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
Qualifications Required: Maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month; Minimum deposit of $25,000. Higher dividends are earned when you maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month. If qualifications are not met, account earns the regular share rate.
Above $20,000 and all balances in retirement accounts
PREMIUM RATE of 3.50% APY is earned on balances $250,000.00 or more. Minimum opening deposit of $25,000.00 in new money. New money is money not currently on deposit with Knoxville TVA Employees Credit Union. Rate subject to change. Some restrictions may apply. Fees may reduce earnings. Ask for details. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
Must be open for a minimum of three years and pays out on your child's college entrance date or 18th birthday, whichever comes first. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details. APY effective as of July 2026. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
Qualifications Required: 20 debit card purchases; Log in to online or mobile banking; direct deposit; eStatements enrollment; Qualifying balance up to $25,000.00
Qualifications Required: Maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month; Minimum deposit of $25,000. Higher dividends are earned when you maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month. If qualifications are not met, account earns the regular share rate.
On balances between $100,000.00 and $249,999.99, 3.00% APY is earned. Minimum opening deposit of $25,000.00 in new money. New money is money not currently on deposit with Knoxville TVA Employees Credit Union. Rate subject to change. Some restrictions may apply. Fees may reduce earnings. Ask for details. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
PREMIUM RATE of 3.00% APY is earned on balances up to $500.00. NON-PREMIUM RATE of 0.15% APY minimum is earned on balances of $500.01 or more. When the account is closed, 0.15% APY applies for the month the account is closed. Fees may reduce earnings. Ask for details.
PREMIUM RATE of 3.00% APY is earned on balances up to $500.00. Fees may reduce earnings. Ask for details.
Qualifications Required: Maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month; Minimum deposit of $25,000. Higher dividends are earned when you maintain a UTFCU consumer checking account and receive at least $500 in total direct deposits per month. If qualifications are not met, account earns the regular share rate.
On balances between $25,000.00 and $99,999.99, 2.00% APY is earned. Minimum opening deposit of $25,000.00 in new money. New money is money not currently on deposit with Knoxville TVA Employees Credit Union. Rate subject to change. Some restrictions may apply. Fees may reduce earnings. Ask for details. Receive a paper statement in the mail for $2.00 per month or enroll in free eStatements (electronic statements). Members under the age of 18, Senior Member Accounts, and department SSI excluded. Ask for details.
A Jump Start Savings account is for ages 0 to 17 only. The account balance will be automatically transferred to a Young Adult Savings account when the member reaches age 18. A Jump Start Savings account 2.00% APY is for the first $5,000. A balance of $5,000.01 and more earns the regular share savings rate of 0.05% APY.
Qualifications Required; All balances if qualifications met
Qualifications Required: Enrolled in online banking; Enrolled in e-statements; Monthly direct deposit of $500 or more; 10 debit card transactions per month with $10 or more transaction amount, not including ATM withdrawals; The Share Drafts (07) rate is earned on any amount in excess of $15,000.01 and on balances of $500.01 - $15,000.00 when criteria are not met.
Fees may reduce earnings. Available to qualifying Members. Some restrictions may apply. Ask for details.
Qualifying balance up to $2,500.00
Consult with your tax advisor to determine your specific tax situation. Early withdrawal penalties may apply. Additional terms and conditions may apply. Must be age 18 or older to apply. A Certificate Account can be designated as an IRA Certificate or a Health Savings Account Certificate. All rates and offerings are subject to change. Fees may reduce earnings.
Minimum Balance to open account: $5; Minimum balance to earn Interest and obtain APY: $25
Minimum Balance to open account: $5; Minimum balance to earn Interest and obtain APY: $25
Minimum Balance to open account: $5; Minimum balance to earn Interest and obtain APY: $25
NON-PREMIUM RATE of 0.15% APY minimum is earned on balances of $500.01 or more. When the account is closed, 0.15% APY applies for the month the account is closed. Fees may reduce earnings. Ask for details.
Dividends accrue daily; compound quarterly. $5.00 minimum balance.
Available to qualifying Members. Fees may reduce earnings. Some restrictions, conditions, and fees may apply. Ask for details.
Shares below $20,000
As High As
Available to qualifying Members. Some restrictions, conditions, and fees may apply. Ask for details. Fees may reduce earnings. Limits on number of non-signature transactions may be imposed as required by regulation or Credit Union policy. Non-signature transactions may include those made over the phone, via online or telephone banking, or automatically by the Credit Union.
All balances if qualifications not met
Balance over $25,000.00 earns Premier U rate. ATM fees on qualifying accounts are reimbursed at the end of each month. If you do not meet the monthly U Rewards rate requirements (use your UTFCU debit card at least 20 times, Log in to online or mobile banking, have direct deposit, and maintain enrollment in eStatements), your account will earn the Premier U rate and you will not receive ATM fee refunds for that period.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Knoxville, TN Savings Rate Trends
Compare local Knoxville, TN savings rate quotes against the statewide average
Daily savings rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Tennessee high-yield savings rates fell 0.355 points over the past 7 days to 1.648% APY, down from 2.003%.
Tennessee standard savings rates rose 0.024 points over the past 7 days to 1.273% APY, up from 1.249%.
Knoxville, Tennessee Savings Rate Forecast — Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current TN high-yield average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Savings account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current TN high-yield savings average of 1.648% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: 1–2 Federal Reserve rate cuts of 25 basis points each over the next 12 months, based on current CME FedWatch consensus; savings institutions typically pass through 70–90% of rate cuts to deposit rates within 60–90 days. High-yield online savings rates tend to adjust faster than standard branch-based savings rates.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Knoxville, Tennessee.
Savings Account Earnings in Knoxville, Tennessee
Annual interest earnings at current TN average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.648% APY) | Monthly Earnings | Standard Savings (1.273% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $82.39 / year | $6.87 | $63.64 / year | $5.30 |
| $10,000 | $164.77 / year | $13.73 | $127.28 / year | $10.61 |
| $25,000 | $411.93 / year | $34.33 | $318.20 / year | $26.52 |
| $50,000 | $823.85 / year | $68.65 | $636.40 / year | $53.03 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, and daily balance maintained. Rates are variable and subject to change. Source: Knoxville, Tennessee savings rate averages as of July 11, 2026. | ||||
About Our Knoxville, Tennessee Savings Rate Database
MonitorBankRates found 13 institutions with branches in Knoxville (5 banks, 8 credit unions). Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: Fsnb offers a savings account at 7.00% APY. Use the rate table above to compare all current offers in Knoxville, Tennessee.
How to Find the Best Savings Rates in Knoxville, Tennessee
What to compare when shopping for a savings account in Knoxville, Tennessee
To find the best savings APYs in Knoxville, Tennessee, start with credit unions and online-only banks — Knoxville, Tennessee has 8 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate. APY reflects compounding and is the true measure of what you’ll earn. Savings accounts that compound daily earn slightly more than those compounding monthly at the same stated rate. The current TN high-yield savings average is 1.648% — but top local institutions are offering as high as 7.00%, so shopping around pays off.
Unlike a CD, savings account rates are variable — your rate can change at any time with Federal Reserve policy. Many institutions offer elevated introductory rates that reset after a promotional period. Review your account periodically to ensure your APY remains competitive.
When a High-Yield Savings Account Makes Sense
- Emergency fund: Financial experts recommend 3–6 months of expenses in a liquid, FDIC-insured account. Knoxville, Tennessee high-yield savings rates currently average 1.648% APY — far above a typical checking account.
- Short-term savings goals (6–24 months): If you may need the money soon, a savings account gives you immediate access without early withdrawal penalties.
- Parking cash between investments: A high-yield savings account at Knoxville, Tennessee institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 13 institutions in Knoxville, Tennessee report savings rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Knoxville, Tennessee CD rates
- You want check-writing flexibility → Knoxville, Tennessee money market rates
- You need daily transaction access → Knoxville, Tennessee checking rates
Knoxville, Tennessee Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
14.4% of residents are 65 or older — below the national average of 17.3%. At today’s TN high-yield savings average of 1.648%, saving 10% of the local median salary ($3,328/year) would earn an additional $55 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Knoxville, Tennessee Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Knoxville, Tennessee.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current TN Avg APY | 1.648% | 1.273% | View MMA Rates | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✗ No | ✗ No | ✓ Often yes | ✗ No |
| Debit / ATM Card | Some institutions | ✗ Rarely | ✓ Often yes | ✗ No |
| Typical Min Deposit | $0 – $100 | $25 – $100 | $0 – $2,500 | $500 – $1,000 |
| Rate Risk | Rate may fall with Fed cuts | Rate may fall with Fed cuts | Rate may fall with Fed cuts | None — locked for term |
| Best For | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Active savers wanting flexibility + check writing | Locking in a rate for a defined period |
APY data reflects Knoxville, Tennessee averages tracked in our database as of July 11, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Knoxville, Tennessee
At TN’s top rate of 7.00% from Fsnb, a $10,000 deposit earns $700 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Knoxville, Tennessee earner is roughly $8,300. At 1.648% APY, saving $690/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsTennessee’s high-yield savings average is 1.648% APY — variable and always accessible. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Knoxville, Tennessee earner makes $33,286/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 1.648% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.648% APY grows to roughly $34,665 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Knoxville, Tennessee savings rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Knoxville, Tennessee directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Knoxville, Tennessee. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to large national institutions available to savers in TN.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in Knoxville, Tennessee
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Knoxville, Tennessee safe?
How often do savings rates change in Knoxville, Tennessee?
Do I need a minimum deposit to open a savings account?
What is the difference between a Savings Account and a Money Market Account?
Are online banks better than local banks in Knoxville, Tennessee?
How do I open a savings account in Knoxville, Tennessee?
Best Savings Rates in Knoxville, Tennessee
- Fsnb
Cents-able Savings — 7.00% APY - Knoxville TVA Employees Credit Union
Educational Savings Plan — 4.28% APY - U T
U Earn Savings — 3.65% APY - Knoxville Teachers Federal Credit Union
Regular Shares — 3.60% APY - Y-12 Federal Credit Union
Jump Start Savings — 2.00% APY
Knoxville, Tennessee Rates & Resources
