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  First Horizon Bank Add On CD Account

First Horizon Bank Add On CD Account

in CD Accounts from First Horizon Bank · fdic

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First Horizon Bank Add On CD Account

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in CD Accounts from First Horizon Bank · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $500
Certificate Term 6 months
APY (Annual Percentage Yield) 0.02% - 0.06%

First Horizon Bank Add On CD Account Review

First Horizon Bank Add On CD Account is offered by First Horizon Bank, a bank founded in 1864 and based in Memphis, TN. First Horizon Bank Add On CD Account is available in 6 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.06.
  • $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
  • Limited selection of CD terms. First Horizon CD only offers one CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of First Horizon Bank Add On CD Account
Pros Cons
  • FDIC insured.
  • No charge on incoming domestic or international wire transfers.
  • Only available in 6 states.
  • Poor selection of CD terms.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
First Horizon Bank Add On CD Account FAQ

Are cd accounts from First Horizon Bank federally insured?

Yes, your First Horizon Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #4977). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What is the grace period for First Horizon CD?

First Horizon CD does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does First Horizon CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

First Horizon Bank does not charge an early withdrawal fee.

First Horizon Bank Add On CD Account Fees
Description
Annual Fee Starting at $25
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 6 states
  • Florida
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas
  • Virginia

Feature Breakdown

Annual Fee Starting at $25
Minimum Opening Deposit Starting at $500
6-Month APY 0.02% - 0.06%
APY (Annual Percentage Yield) 0.02% - 0.06%
Certificate Term 6 months

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