Locating the Best 24-Month CD Rates in Tennessee: March 2011
If you live in the state of Tennessee and are thinking about opening a 2 Year CD account, there are certain account characteristics you’ll need to consider before choosing the best account for you. Things like the minimum balance required and term length of your CD are important, but the interest rate you’ll earn is at the top of the list.
Longer term lengths generally yield higher CD rates, which is why a 24-month CD is a great investment option. That doesn’t necessarily mean every 2 year CD rate is good, however. Tennessee Banking Rates can help familiarize you with the rates available in state and find the rates that are truly competitive for the area.
Average 2 Year CD Rates in Tennessee
Since Tennessee Banking Rates compiles rates information from financial institutions through the entire state, there are a lot of numbers to sift through. In fact, there is currently a total of 6 CD accounts with a term length of 2 years to choose from. However, if you know the average 24-month CD rate in Tennessee you can weed out low rates.
Today, the highest 24-month CD rate we have on record in Tennessee is 2.78% APY, while the lowest is 0% APY. The average of these rates and all others available in and around Tennessee is 1.55% APY.
Now that you know how high the average 2 year CD rate in Tennessee should be, you can easily determine which offers are good and which ones are too low to really grow your money.
You can also view CD rates for other term lengths, like 6 months or 1 year, by visiting the Tennessee CD Rates page.
