Authoirty:  A major regional bank in Tennessee based in Memphis that began back in 1864 and has over 170 locations. It has No. 1 market share position in Tennessee in deposits according to FDIC.

How to open a First Tennessee Certificate of Deposit

- You can apply online for a new account which will require only 15 minutes.

Step 1 - You will require identification including driver's license, social security number, date of birth and contact information such as address/phone number. 

Step 2 -  You will require to provide the source of the deposit a) an existing First Tennessee deposit account, another bank account or debit/credit card number. 

- You can visit one of the many physical branches within the state of Tennessee to open a CD directly

- If you need any assistance or questions to open a deposit online or you can contact them directly on: 800-615-1933

Information on First Tennessee 1 Year CD rates

For First Tennessee core deposits form a signicant funding source and has been considered an inexpensive and predictable funding source for banks from its customer base, which is further stabilized with federal deposit insurance. This funding souce allows its to fund some of its loans products to its customer with a margin between the two. First Tennessee rates are influenced by the rates set by the federal reserve, however it also has the costs to maintain a branch network compared to nline banks and being the number 1 bank by deposit market share provides a natural incumbent advantage and do not feel as compelled as online banks to be as competitive with deposit rates. However its 1 year CD risk premium would be higher than its 1 month deposit and lower compared to its 5 year.

Requirements to open this 1 yr CD

• $1,000 minimum opening deposit
• Choose automatic renewal
• Choose interest payment options monthly, quarterly, semi-annually, or annually