Affinity Bank (formerly Atlanta Business Bank) continues to offer several competitive rates on its CDs and money market accounts. The online CD yields range from 1.56% APY for a 6-month term to 2.99% APY for a 60-month term. Minimum deposit is $1,000. The online money market account has tiered rates with yields ranging from 1.11% APY for a $2,500 minimum balance to 1.56% APY for a $100,000 minimum. These rates are listed in the online application as of 9/30/2010. Below is the full list of money market and CD rates:
Money Market Rate Tiers as of 9/30/2010:
- 1.11% APY $2.5K to $10K
- 1.26% APY $10K to $25K
- 1.36% APY $25K to $100K
- 1.56% APY $100K and above
Certificate of Deposit Rates as of 9/30/2010:
- 1.56% APY 6-month CD
- 1.86% APY 12-month CD
- 1.97% APY 18-month CD
- 2.22% APY 24-month CD
- 2.53% APY 36-month CD
- 2.74% APY 48-month CD
- 2.99% APY 60-month CD
You can open the accounts online via an Andera, which is a common service for online applications. The link to the online application is located on the bank's front page. The application only allows Georgia residents to apply. It provides a list of dozens of Georgia zip codes, and requires you to select one of them.
It's a small bank with one office located in Atlanta, Georgia.
The bank's overall health score is 2 out of 5 with a Texas ratio of 91.78% (poor) based on 6/30/2010 data. Please refer to our financial overview of Affinity Bank for more details. The name change from Atlanta Business Bank to Affinity Bank just took place on September 28th. This is mentioned on the bank's front page. It still has not be reflected yet at the FDIC website. The bank has been a FDIC member since 2002 (FDIC Certificate # 57264).
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.