Bank · FDIC insured
First Farmers & Merchants Bank Savings Rates
First Farmers & Merchants Bank’s best savings rate is 2.78% APY, with its Money Market Special, with extra requirements. Rates checked October 15, 2026.
How First Farmers & Merchants Bank’s savings rates compare
Compared with banks and credit unions in Tennessee, where First Farmers & Merchants Bank has the most branches. $10,000, best rate first.
This bank’s best
First Farmers & Merchants Bank
2.78%APY
- Requires
- Another account
- Minimum
- $2,500
- Earns on $10,000 a year
- $278
Money Market Special
Top rate
Knoxville TVA Employees Credit Union
4.28%APY
- Requires
- None
- Minimum
- $0
- Earns on $10,000 a year
- $428
2nd-highest rate
Peoples Bank
4.00%APY
- Requires
- Monthly account activity
- Minimum
- $1
- Earns on $10,000 a year
- $400
Every rate
Current savings rates
Rates from the bank’s website. Earnings assume the rate doesn’t change.
Money Market Special
2.78%APY
Must have another deposit account with First Farmers and Merchants Bank. Public Funds are not eligible. Limited time offer.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| $2,500 and up2.78% APY (stated as 2.75% Annual Percentage Rate) applies for 182 days from account opening; thereafter a tiered rate structure applies. A $2,500 minimum balance must be maintained to receive promotional APY and avoid a $15.00 monthly maintenance fee if balance falls below $2,500 during statement cycle. Customer must have another deposit account with First Farmers and Merchants Bank. More than six withdrawals or transfers per cycle subject to penalty. Public funds not eligible.$2,500 and up | 2.78% | $278 | 2.78% APY (stated as 2.75% Annual Percentage Rate) applies for 182 days from account opening; thereafter a tiered rate structure applies. A $2,500 minimum balance must be maintained to receive promotional APY and avoid a $15.00 monthly maintenance fee if balance falls below $2,500 during statement cycle. Customer must have another deposit account with First Farmers and Merchants Bank. More than six withdrawals or transfers per cycle subject to penalty. Public funds not eligible. |
Sources (1)
- myfirstfarmers.com/money-market-special · captured Sep 18, 2026
Opening an account
Confirm the bank’s opening requirements and whether the account is available where you live. A nearby branch does not establish eligibility for every rate.