2.40% 24-Month Internet CD at Atlantic Coast Bank - Available Nationwide

Atlantic Coast Bank is offering a 2.40% APY 24-month CD. It's part of the bank's iCertificates of Deposit. The other rates are not quite as competitive. They include a 1.10% APY 6-month CD, a 1.60% APY 12-month CD and a 2.85% APY 36-month CD. These rates are listed in the bank's internet products page as of 10/27/09.

In addition to the CDs, they also have online account applications for a money market account and a reward checking account. The rates for both of these accounts are not too exciting. As of 10/27/09, the top rate on the reward checking account is 3.50% APY on balances up to $25K and the top rate for the money market account is 1.60% APY for a minimum balance of $100K. I reviewed the reward checking account in this July 2008 post.

The start of the application states that "We welcome all residents of the United States to apply." It does require that you are either a US citizen or resident alien. One nice feature of the online application is that it allows for two POD beneficiaries.

The bank is headquartered in Southern Georgia with branches in both Southern Georgia and Northern Florida.

The bank's ratings for safety and soundness have gone down over the last year. The ratings are now low: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2000 (FDIC Certificate # 45826)

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Tags: Atlantic Coast Bank, CD rates