Knoxville, Tennessee Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Knoxville, Tennessee savings account rates range from 0.03% to 7.00% APY, verified by MonitorBankRates as of October 14, 2026. The best savings rates for Knoxville, Tennessee and the surrounding area include FsnbFsnb6777 Clinton Hwy, Knoxville, TN 37912A+5.0 ★Texas Ratio: 4.08%Real return: +4.20%APY minus 2.8% CPI (February 2026) Cents-able Savings at 7.00% APY, CIT BankCIT Bank10118 Parkside Dr, Knoxville, TN 37922A5.0 ★Texas Ratio: 7.72%Real return: +0.95%APY minus 2.8% CPI (February 2026) Platinum Savings at 3.75% APY, US BankUS Bank607 Market St, Knoxville, TN 37902A+5.0 ★Texas Ratio: 2.85%Real return: +0.70%APY minus 2.8% CPI (February 2026) Bank Smartly Savings Account at 3.50% APY, Knoxville TVA Employees Credit UnionKnoxville TVA Employees Credit Union1316 Wilson Rd, Knoxville, TN 37912A+5.0 ★Texas Ratio: 2.34%Real return: +0.70%APY minus 2.8% CPI (February 2026) Premium Savings Account at 3.50% APY, and FirstBank (TN)FirstBank (TN)520 W Summit Hill Dr Ste B101, Knoxville, TN 37902A5.0 ★Texas Ratio: 7.51%Real return: +0.60%APY minus 2.8% CPI (February 2026) Companion Savings at 3.40% APY.
Knoxville has 67 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, so 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: October 14, 2026
Compare the Best Savings Rates in Knoxville, Tennessee & Surrounding Communities
Balance: >= $5,000
- Oct 14, 20263.75%▲ from 0.25%
- Sep 24, 20260.25%first recorded
Earn up to 3.50% APY when you are an account owner of a Bank Smartly Checking, Safe Debit account, or Bank SmartlyTM Visa Signature Card and a CQB of at least $25,000. APYs may vary by location and are accurate for accounts opened on today's date. Restrictions apply.
Balance: $250,000.00 and over; Dividend Compound: Monthly; Premium rate; Minimum opening deposit of $25,000.00 in new money
Earn 3.40% APY when you combine Companion Savings with a qualifying FirstBank CD.
Qualifications Required; Balance: $100,000 - $249,999; Minimum deposit of $25,000; higher dividends earned with a UTFCU consumer checking account and at least $500 in total direct deposits per month; if qualifications are not met, account earns the regular share rate; dividend rate subject to change without notice; maintenance or activity fees could reduce earnings
Qualifications Required; Balance: up to and including $25,000; Tiered account: balances over $25,000 earn the Premier U rate; no minimum balance requirement; variable dividend rate; ATM fees on qualifying accounts reimbursed monthly; one account per individual taxpayer ID
Balance: $5.00 - $500.00; Premium rate; Dividend Compound: Quarterly; For minors under 18 with parent or legal guardian on account
Balance: $100,000.00 - $249,999.99; Dividend Compound: Monthly; Minimum opening deposit of $25,000.00 in new money
Qualifications Required; Balance: $25,000 - $99,999; Minimum deposit of $25,000; higher dividends earned with a UTFCU consumer checking account and at least $500 in total direct deposits per month; if qualifications are not met, account earns the regular share rate; dividend rate subject to change without notice; maintenance or activity fees could reduce earnings
Qualifications Required; Balance: $500.01 - $15,000.00; Rate earned when criteria are met; Share Drafts (07) rate applies above $15,000.01 and to $500.01 - $15,000.00 when criteria are not met
- Oct 12, 20262.00%▲ from 1.25%
- Sep 14, 20261.25%first recorded
Ages: 0-17; Balance: $0.00 - $5,000.00; Requires parent or legal guardian as joint owner; balance of $5,000.01 and more earns regular share savings rate of 0.05% APY
Balance: $25,000.00 - $99,999.99; Dividend Compound: Monthly; Minimum opening deposit of $25,000.00 in new money
Dividend calculation: Daily; Frequency of compounding: Monthly; Subject to change: Monthly
Balance: >= $25,000
Dividend Compound: Quarterly; Earns dividends; No minimum balance; Allows withdrawals; Fees may reduce earnings
Balance: up to $2,500; Youth Account Rates; Maintenance or activity fees could reduce earnings on the account.
Effective Date: Monday, October 12th, 2026
Retirement Accounts; Dividends declared monthly
Retirement Accounts; Dividends declared monthly
Dividend Compound: Monthly; Health Savings Account; Consult with your tax advisor; early withdrawal penalties may apply
Balances $50,000.00 or more; Tier Three
Balances $5,000.00 to $49,999.99; Tier Two
Base Tier; Balance: < $25,000
Effective date 3/1/2026
Balances less than $5,000.00; Tier One
Effective date 3/1/2026
Quarterly service charge is refunded within 3 business days when linked to Essential Checking account or Advantage Checking account or if the daily balance is at least $250. Otherwise a $5 quarterly service charge will be applied. Interest is compounded daily and posted quarterly. An account can be linked to a First Horizon Bank checking account to provide 24-hour access to funds through the ATM. FDIC insured up to $250,000 * . Link to checking for overdraft protection . Accessible via Digital Banking . Convenient Automatic Savings Service with recurring transfers between accounts via Digital Banking. APY ** Annual Percentage Yield effective 9/28/26. APY is variable and subject to change. Fees may reduce earnings.
Balance: >= $25,000
Balance: < $5,000
- Oct 6, 20260.25%▼ from 3.75%
- Sep 24, 20263.75%first recorded
Balance: > $250,000
Balance: Minimum to Earn Dividends $5.00; Dividends Credited: Quarterly
- Sep 19, 20260.20%▲ from 0.15%
- Sep 14, 20260.15%first recorded
- Sep 19, 20260.20%▲ from 0.15%
- Sep 14, 20260.15%first recorded
- Sep 19, 20260.20%▲ from 0.15%
- Sep 14, 20260.15%first recorded
Balance: $50,000 - $99,999
Dividend Calculation: Daily; Minimum to Maintain Annual Percentage: $5.00; Maturity Date or Monthly Fees: N/A
Dividends credited quarterly
Balance: $500.01+; Non-premium rate; Dividend Compound: Quarterly; For minors under 18 with parent or legal guardian on account
Dividend Compound: Quarterly; Fees may reduce earnings
Balance: $0 - $24,999
Share (01) rate earned on any amount equaling or in excess of $500.01; Effective Date: Monday, October 12th, 2026
- Oct 4, 20260.10%▲ from 0.05%
- Sep 25, 20260.05%first recorded
Balance: $25,000 - $49,999; Tier 5; Minimum to earn dividend is $100; Dividends paid monthly
Balance: $5.00 to $2,000.00
Dividends credited quarterly
If bonus qualifications are not met during the statement cycle, the account will earn 0.05% APY.
Interest is calculated based on the account's total daily balance and is credited quarterly.
Annual Percentage Yield effective as of 10/17/2024. Rate may change after the account is opened. An interest rate of 0.05% will be paid only for that portion of your daily collected balance that is greater than $3,000.00. Interest will accrue on transferred funds during the cycle and will be credited to the account at the end of the 12-month cycle.
4.10% Annual Percentage Yield (APY) is accurate as of 09/10/2026 and may change at any time. The maximum account balance is $250,000.
Balance: $500,000.00 and above; Rate moves with the Wall Street Journal Prime Rate. APY is accurate as of 9/21/2026.
Qualifications Required: At least one direct deposit, ACH credit, or ACH payment transaction (each a minimum of $1 or more); At least 12 debit card purchases post and settle; Be enrolled in and review eStatements; 4.00% to 1.50% APY on balances over $50,000 depending on balance in account.
Balance: $250,000+
Balance: $100,000.00 - $249,999.99
Qualifications Required: Direct deposit to checking account OR minimum of ten (10) debit card transactions during the monthly statement cycle; 3.50% APY* on balances up to and including $50,000; 0.50% APY on balances over $50,000 depending on balance in account
Balance: over $100,000; Rates effective September 24, 2026.
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 rose 0.032 points over the past 7 days to 2.224% APY, up from 2.192%.
Tennessee standard savings rates fell 0.008 points over the past 7 days to 0.579% APY, down from 0.587%.
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 to 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 2.224% 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: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60 to 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 (2.224% APY) | Monthly Earnings | Standard Savings (0.579% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $111.19 / year | $9.27 | $28.95 / year | $2.41 |
| $10,000 | $222.38 / year | $18.53 | $57.91 / year | $4.83 |
| $25,000 | $555.95 / year | $46.33 | $144.77 / year | $12.06 |
| $50,000 | $1,111.90 / year | $92.66 | $289.55 / year | $24.13 |
| 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 October 14, 2026. | ||||
About Our Knoxville, Tennessee Savings Rate Database
MonitorBankRates found 22 institutions with branches in Knoxville (9 banks, 13 credit unions), plus 7 additional state-chartered and national online institutions available to Knoxville residents. 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 to 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 with a minimum deposit of $5. 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 13 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 2.224% 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 to 6 months of expenses in a liquid, FDIC-insured account. Knoxville, Tennessee high-yield savings rates currently average 2.224% APY, far above a typical checking account.
- Short-term savings goals (6 to 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: 29 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 2.224%, saving 10% of the local median salary ($3,328/year) would earn an additional $74 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 | 2.224% | 0.579% | 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 to $100 | $25 to $100 | $0 to $2,500 | $500 to $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | 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 October 14, 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 2.224% 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 2.224% 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 2.224% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.224% APY grows to roughly $38,813 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 - CIT Bank
Platinum Savings: 3.75% APY - US Bank
Bank Smartly Savings Account: 3.50% APY - Knoxville TVA Employees Credit Union
Premium Savings Account: 3.50% APY - FirstBank (TN)
Companion Savings: 3.40% APY
Knoxville, Tennessee Rates & Resources
