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Below is a detailed overview of First Horizon Banks CD offerings and associated features.
What Are the Current CD Rates at First Horizon Bank?
This and allaccountsat this bank are FDIC-insured up to $250,000.
Interest Rates and Payments
Interest is compounded annually on CDs with terms over one year.
you could choose how your interest is paid out to you.
Penalties for Early Withdrawals
First Horizon penalizes depositors for withdrawing funds before the terms are over.
For longer-term CDs, banks often charge a penalty equal to six months or even a year of interest.
Some banks may deduct the penalty from the principal if the accrued interest isnt enough to cover it.
Sometimes, a bank may charge a flat fee for early withdrawals regardless of the term.
What Are the Benefits of Opening a CD With First Horizon Bank?
Why should you open a CD at First Horizon Bank?
These are some of the reasons why it could be the bank for you.
This means that accountholders will have fixed, predictable returns regardless of market fluctuations.
This fixed rate allows for better financial planning without considering market volatility.
Business and Jumbo CDs
First Horizon Bank also offers CDs for commercial depositors.
Businesses can choose from regular or jumbo CDs.
Should You Open a CD With First Horizon Bank?
Why Are Interest Rates on CDs Dropping?
The federal funds rate influences all interest rates, including CDs.
If First Horizons CD options dont make sense for your financial goals, consider products likehigh-yield savingsormoney market accounts.
FAQ
Rates are subject to change; unless otherwise noted, rates are updated periodically.
All other information on accounts is accurate as of April 16, 2025.
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