Rate Alert: Nashville residents can earn nearly 8x the national average right now. Tennessee has no state income tax, so every dollar your CD earns is yours to keep — no state tax on interest income. Ascend Federal Credit Union’s 9-month special at 4.15% is the top local pick for those with $5,000+. For smaller deposits or shorter decisions, Raisin online at 4.30% with just $1 minimum is the best move available.

Best CD Rates — Nashville, TN

Institution	APY	Term	Min. Deposit	Insured By	Standing
Raisin (Online)	4.30%	12 months	$1	FDIC/NCUA	Best Rate — TN Residents
Ascend Federal Credit Union	4.15%	9 months (Special)	$5,000	NCUA	Best Local Rate
Marcus by Goldman Sachs	3.90%	12 months	$500	FDIC	Strong Online Rate
FirstBank Tennessee	3.80%	6 months	$1,000	FDIC	TN Community Bank
Old Hickory Credit Union	3.75%	12 months	$500	NCUA	Nashville Local CU
Ascend Federal Credit Union	3.66%	3 months or 60 months	$500–$1,000	NCUA	Standard Rates
Ascend Federal Credit Union	3.45%	6–24 months	$500–$1,000	NCUA	Flexible Terms
National Average	0.55%	12 months	Varies	—	Benchmark

💡 Pro Tip — Nashville Residents

Ascend Federal Credit Union’s 9-Month Special Certificate at 4.15% APY requires $5,000 minimum but is the strongest local rate in the Nashville market right now (rates effective July 1, 2026). Membership at Ascend is open to anyone who lives, works, or worships in select Tennessee counties — check their eligibility page. Raisin at 4.30% with just $1 minimum beats it slightly and requires no membership, making it the most practical pick for most residents. Tennessee’s zero state income tax means every cent of that yield is yours to keep.

Best Savings Rates — Nashville, TN

Institution	APY	Min. Balance	Type	Standing
Raisin (Online)	4.30%	$1	Money Market	Top Pick
Marcus by Goldman Sachs	3.90%	$0	High-Yield Savings	Strong
Ascend FCU High-Yield MM	3.14%	$2,500	Money Market	Local Option
National Average	0.46%	Varies	Savings	Benchmark