Dedicated to Deposits: Deals, Data, and Discussion

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

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

Update 9/22/07: CD rates have gone down. Please check bank's website for latest rates.

Alpha Bank & Trust continues to offer 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. My last report on this bank was in June.

The bank 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. The bank is FDIC insured (FDIC Certificate # 58241).
  Tags: Georgia, CD rates, IRA rates

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