Dedicated to Deposits: Deals, Data, and Discussion

4.25% 9-Month / 4.40% 15-Month CD at a Georgia Bank (Alpha Bank & Trust).


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

Update 7/12/08: These CD specials have ended. Please check the bank's website for the latest rates.

Alpha Bank & Trust has increased the rates on its two CD specials. The new rates are 4.25% APY for a 9-month term and 4.40% APY for a 15-month term. The minimum deposit is $1,000.

These special rates are now the same as two of Wachovia's Featured CDs (see post). However, these terms are 3 months shorter which should be an advantage if you think rates are going to be rising next year. Hopefully, we'll see other banks raise their CD rates to compete with Wachovia.

No out-of-state deposits are accepted. However, a reader informed me last year that you can open the CD by phone if you live in Georgia.

Last year the bank was offering many certificate specials with yields over 6%.

Branches are located in Alpharetta and Marietta, Georgia which are in the northern suburbs of Atlanta. It's a fairly new bank that was established in May 2006, and consequently, it doesn't have a star rating at BauerFinancial. It does have a rating at Bankrate. Bankrate gives it only a 1 star rating (lowest rated) based on 12/31/07 data. The bank is FDIC insured (FDIC Certificate # 58241).

Thanks to the reader who commented on these new rates in the Finding the Best Deals Post.

  Tags: Georgia, CD rates

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