Franklin Synergy Bank Rates & Review

Franklin Synergy Bank Review

Franklin Synergy Bank opened its doors in Cool Springs, Tennessee in November 2007. Today, the bank is headquartered in Franklin, Tennessee, with two branch locations, a mortgage center, and access from thousands of surcharge-free ATMs.

By May, 2010, Franklin Synergy Bank had assets of more than $280 million and deposits of more than $248 million. This BBB accredited business has an A- rating. Bauer Financial rates the bank with 3.5 stars, a good rating. All deposit accounts with Franklin Synergy Bank are FDIC-insured.

Financial products

Franklin Synergy Bank offers a full variety of personal and business banking accounts, including the "ESavings" account, an online savings account.

Customers can open a certificate of deposit (CD), a money market account, and other savings accounts and tie these accounts to a Synergy Club checking account. All CDs, checking accounts, savings accounts and money market accounts can be opened online.

Financial services

In 2009, the Nashville Mortgage Bankers Association gave Franklin Synergy Bank an award of excellence for their mortgage origination business.

In addition to home loans, Franklin Synergy Bank offers business banking, home equity loans, auto loans, construction loans, personal loans and credit cards.

All accounts can be managed with online banking, online bill paying and 24-hour telephone banking that allows customers to check balances and transfer funds.

Internet banking customers can also sign up for a Synergy Easy Deposit account that allows customers to scan in deposits from a home office.

Deposit insurance

Franklin Synergy Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account rates from Franklin Synergy Bank and more than 400 other banks at SavingsAccounts.com.