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Yields are somewhat unappealing right now, but don't give up looking just yet. CD rates in Memphis, TN, have jumped up across some maturities this week, and many institutions are advertising higher yields to bring in deposits. It can be a good idea to keep your investment close to home, but compare CD rates in your area of Tennessee with yields across the nation before making a final decision.
Federal intervention may cause yields to drop even lower, which means it's crucial to shop around for the best CD rates. Certificates of deposit are generally considered a safe investment, but building a CD ladder to hedge the risk of rates changes can be a good safety net. To find CD rates in Memphis, TN, check out research from Bankrate.com.
CD rates in Memphis, TN
Here are the 6-month CD rates as of 2 p.m. in Memphis, TN.
| Institution | APY | Min Deposit |
| Ally | 1.05% | $0 |
| Bancorp South Bank | 0.40% | $1,000 |
| First Tennessee Bank | 0.30% | $500 |
| SunTrust Bank | 0.10% | $2,000 |
| Bank of America | 0.05% | $1,000 |
| Regions Bank | 0.05% | $500 |
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