2.15% 7-Month CD at One Georgia Bank - Atlanta Area Only

One Georgia Bank continues to offer several competitive deposit rates. One is a special 7-month CD with a 2.15% APY. Minimum deposit is $5,000 with new funds. The special requires a checking account with direct deposit. Maximum deposit is $100,000. The bank's standard CDs and IRAs also have competitive rates. These include a 2.15% APY 18-month CD and a 2.30% APY 24-month CD. Minimum deposit is $1,000. These rates are listed in the bank's rate table as of 12/29/09.

My last report on this bank was in March 2009 when this 7-month CD had a yield of 3.00% APY. This is a good example of how much rates have gone down this year.

The bank continues to offer a high yield savings account with a top yield of 2.50% APY (was 3.00% last March) on balances up to $10,000 (1.25% 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.

The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 9/30/09 data) and 1 star (lowest) at Bankrate.com (based on 6/30/09 data). It has been a FDIC member since 2006 (FDIC Certificate # 58238).

Thanks to the reader Atlanta Wolf who mentioned these new rates in the comments.

Other Competitive Certificate of Deposit Rates

• CD rates at DepositAccounts.com
• My weekly list of hot nationwide and local CD deals