Greater Atlantic Bank is offering some competitive rates on its CD specials. These include a 3.75% APY 7-month CD, a 3.85% APY 13-month CD and a 3.90% APY 25-month CD. Minimum deposit is $10,000. The bank also is offering special CDs with penalty-free withdrawals. These include a 3.45% APY CD with terms of 5 and 9 months and a 3.50% APY 14-month CD. These rates are listed in the bank's rate table as of 12/30/08.
It appears a branch visit is required to open an account. Branches are located in Reston, Front Royal, New Market and South Riding, Virginia and in Rockville, Maryland.
The bank's ratings for soundness are weak: 1 star (troubled) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/08 data. The bank has been FDIC insured since 1988 (FDIC Certificate # 32583).
Sonabank is having a grand opening special for its new Warrenton Virgina branch. They're offering a 5.64% APY 6-month certificate of deposit. There are no minimum deposit or checking account requirements. This special is only available at the Warrenton branch and is available through 6/30/07. It's not listed at the website. A reader mentioned seeing a newspaper ad, and I called yesterday for further details.
The Warrenton branch is located about 40 miles west of Alexandria, Virginia. Sonabank was just established in 2005. It is FDIC insured (FDIC Certificate # 57968).
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