Dedicated to Deposits: Deals, Data, and Discussion

6.00% 6-Month / 5.75% 12-Month CD at a Georgia Bank (Alpha)


Update 10/24/08: The bank has been closed. Please refer to this post for details.

Alpha Bank & Trust is offering a 6.00% APY 6-month and a 5.75% APY 12-month certificate of deposit. These rates require that you open a new checking account with direct deposit. Without this the yield is 5.75% APY for the 6-month CD and 5.65% APY for the 12-month. All longer term CDs have a competitive yield of 5.50% APY. The CDs have a minimum deposit of $1,000. IRA CDs are also available with a minimum deposit of $500. IRA yields range from 5.71% APY for a 12-month term to 5.55% APY on all longer terms. See rate table.

Alpha Bank & Trust does not accept out-of-state CDs. Branches are located in Alpharetta and Marietta, Georgia which are in the northern suburbs of Atlanta.

The bank just started business last year which likely explains the very competitive rates. I've been posting on their high rates since last August (my last post was in May). The bank is FDIC insured (FDIC Certificate # 58241).

Related Pages: Georgia, CD rates, IRA rates

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Comment #1 by Anonymous posted on
CD interest rates at such banks as this, in the "Hot-lanta" burbs, are very high. Wish I could access this deal. It's sweet. BTW, for those in GA, the DD is easy. You just locate a bank which is an ACH originator, and open an account. Then have them, each month, pump a payment out to Alpha. Most banks are not ACH originators, but seek and ye shall find. They're out there. Locate one and you are on your way to the higher CD interest rate Banking Guy mentioned. Third party ACH originators (e.g., CashEdge) might work too. I have not tried 'em. Prefer to work directly with a bank, person to person, because there can be some sensitivity, at the receiving end, re the transmittal messages.