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5.65% 6-Month / 5.65% 12-Month CD at a Georgia Bank (Alpha)


Update 10/24/08: The bank has been closed. Please refer to this post for details.

Alpha Bank and Trust is still offering some competitive certificate rates although they're not the 6% that they were offering last December. The current best rate is 5.65% APY for the 6 and 12 month terms. Longer terms have a yield of 5.50% APY. IRA rates are a little higher with the 12-month CD at 5.71% APY and the longer term CDs at 5.55% APY. These have a minimum deposit of $500. I also noticed they have a very competitive money market rate of 5.36% APY. However, this requires a balance of $100K.

One thing that has changed at Alpha Bank is their restriction on out-of-state deposits. It is now stated at the bottom of their rate page that they don't accept out-of-state CDs. It's a one-branch bank located in Alpharetta, Georgia which is in the northeast suburbs of Atlanta.

The bank just started business last year which likely explains the very competitive rates. It is FDIC insured (FDIC Certificate # 58241).

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Anonymous   |     |   Comment #1
Second Location:

Marietta Financial Center
2615 Dallas Highway SW
Marietta, Ga 30064
Anonymous   |     |   Comment #2
Now they are offering 6.00% in 6 months CD.