Dedicated to Deposits: Deals, Data, and Discussion

4.00% 7-Month CD & 4.00% 18-Month CD at One Georgia Bank - Atlanta Area Only


One Georgia Bank
One Georgia Bank is listing several competitive CD rates. These include a special 7-month CD with a 4.00% APY. Minimum deposit is $5,000 with new funds. The special requires a checking account with either direct deposit or bill pay. Maximum deposit is $100,000. Other competitive rates include a 3.75% APY 12-month CD and a 4.00% APY 18-month CD. The rates for the long-term CDs are also competitive. These range from 4.10% APY for 24 months to 4.35% APY for 60 months. Minimum deposit is $1,000. These are also available as IRA CDs. These rates are listed in the bank's rate table as of 1/16/09.

My last report on this bank was on September 2008 when this 7-month CD had a yield of 4.50% APY. The bank continues to offer a high yield savings account, but the rate has gone down. The top yield is now 3% APY (was 5.00%) on balances up to $10,000 (2% for above). This also has the same checking account requirement as the special CD.

The bank's interest checking accounts also have competitive rates for non-reward checking. The Interest Checking Plus rate is 1.75% APY as of 1/16/09. A $2,500 minimum balance is required to avoid a $15/month fee.

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 2-star rating (below peer group) at Bankrate based on 9/30/08 data. This is a drop from 3 stars (performing) from 3/31/08 data. BauerFinancial gives the bank a 3-star rating (adequate) based on 9/30/08 data.

  Tags: Georgia, CD rates, One Georgia Bank, IRA rates

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Comment #1 by Anonymous posted on
They had a 7 month 4.25% CD special that drop to 4% today 1/22/2009. ALso when I inquire about tThe 4.25% special while it was available yesterday, they stated a checking account WITH direct deposit requirement. This contradicts their website that state the checking account must be signed up for either direct deposit or electronic billpay. You may want to verify the requirements for the 4% 7 month CD special.