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4.50% 7-Month CD at One Georgia Bank

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One Georgia Bank
Update 11/06/08: Rates have changed: Yield of 7-month CD special has fallen from 4.50% to 4.25% APY, and the yield of the savings account has fallen from 5% to 4% APY. Please check the bank's website for the latest rates.

One Georgia Banks has increased its special 7-month CD yield to 4.50% APY. Minimum deposit to open is $5,000 in new funds to the bank. Maximum deposit $1,000,000. You must have a qualifying checking account with direct deposit or online bill pay.

My last report on this bank was on July 30th when this 7-month CD had a yield of 4.25% APY. The bank continues to offer a savings account with a 5.00% APY on balances up to $10,000 (2% for above). This also has the same checking account requirement as the special CD.

At the bottom of the rate table it states that they do not accept deposits outside of their market area. The bank is located in Atlanta, Georgia.

It's a fairly new bank that was established in 2006. It's a member FDIC (FDIC Certificate # 58238). The bank has a 3-star rating (performing) at Bankrate based on 3/31/08 data.
  Tags: Georgia, CD rates, One Georgia Bank

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Comments
2 comments.
Comment #1 by Atlanta Wolf (anonymous) posted on
Atlanta Wolf
Rate changed to 4.00% APY (was 5.00%) on savings and 4.25% (was 4.50%) on the 7-month CD special.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the update.

1