6.00% 12-Month / 6.00% 6-Month CD at a Georgia Bank (Alpha).

Alpha Bank and Trust is still offering 6.00% APY 12 and 6 month certificates of deposit. I first reported on this bank and these CDs on August 2nd. A reader just mentioned the CDs, and I thought it was worthwhile to post on them again. The rates have remained the same since August. They also have 5.75% APY CDs with terms from 24 to 60 months and IRA CDs with rates about 0.05% higher than the regular CDs. The regular CDs have a $1K minimum and the IRA CDs has a $500 minimum.

Alpha Bank and Trust is a one-branch bank located in Alpharetta, Georgia which is in the northeast suburbs of Atlanta. I've received mixed messages from this bank concerning account opening requirements. In an email reply, they stated that you can open accounts by mail. However, a couple of days afterwards, a reader mentioned that they now require a branch visit for account opening. However, you can be from out of state. The lack of a well-defined procedure like this seems typical for small, newly established banks.

The bank just started business last May. It is FDIC insured.