Thinking about changing banks. (Jonesborough: credit, transfer, closing)

[rccrain]

Just had my APR lowered to 1% on my savings - I'm thinking of transferring this account. What bank/credit union in the TriCities or online has the best interest rates on a savings account.

I'm OK with limited withdrawals and other restrictions - just want the best rate. Thanks.

[Bailey.]

BB&T lowered my savings rate from 1.75% to 0.45%. At this point I can't switch because I ran up my credit line with them a little bit, and that needs to get paid down... not worth it anyway.

My Suntrust savings (my vet fund) is >1%.

[younglisa7]

Bank rates are horrendous right now. It's really pitiful. Anyway ING is offering 1.5%, I know not so much, but it was the best I found. Good luck and if you find better rates please share.

Savings Account rate information from ING DIRECT

[rccrain]

Thanks for the info.

BB&T is the bank I left for my current online bank - which started out 3.5% but dropped recently to .95%. My checking is still with BB&T, and as a whole I think their service is good from a relationship and convenience standpoint. Right now 2% is the best I can find, which is at Capital One & I think it's just a promo.

Has anyone had any luck with credit unions?

[Tony1790]

I saw one bank advertising 4.5% on their checking accounts, Andrew Johnson I believe, right by the new Lowes in Jonesborough, I was thinking about switching there myself.

Tony

[TopshelfTom]

Originally Posted by rccrain

Right now 2% is the best I can find, which is at Capital One & I think it's just a promo.

Actually that is their old rate. I signed up for an online banking account with crapital one recently, when it was still 2.01%..... they quickly changed to 1.01% shortly after.....i don't think you're going to find a very good rate anywhere these days.

[Beretta]

We love doing our banking with Eastman Credit Union. I believe that their membership is now open to any resident of TN. They are worth checking out (no pun intended)!

[rccrain]

How does a savings account with ECU work? They do some kind of dividend so how is that comparable to APR of traditional savings accounts?

[crossvibe]

Credit unions call interest "dividends" instead of interest. Being non-profit, you most likely get a little more than regular banks. Check out Discover Bank online, currently 1.75%-2% depending on balance amount. There's some other online banks offering higher than that too. Easy to link to your local bank for money movement.

[chipperi]

We dumped First TN a few years back and went with Eastman, they are awesome as far as customer service, and their fees are a lot cheaper.

We alot of times live check to check so sometimes my wife would pay something knowing that it wouldn't come out until payday. Well on payday First TN processes all the debits before they process the credits. So even though the money is there they bang you with a $32 overdraft fee. Their customer service always had a so what attitude. ECU will not as long as its on the same day, and if you do overdraw as long as you have money in savings the fee is like $8! Avoid First TN like the plague they are just out to squeeze every dollar they can out of you! You should have seen the look on the tellers face when I closed my account and got my cash. She asked Why I was closing the account. I just pointed to the ECU across the street.