Wow, these interest rates on short term CD rates certainly don’t pop up very often anymore – and especially not from banking institutions that can accept deposits from around the country. Thanks to BankVibe.com reader Jen for alerting us on the offer!
Here’s the scoop:
For a limited time Atlantic Coast Bank (member FDIC) of Georgia and Florida is offering consumers a promotional 7 month CD yielding 1.05% APY with a minimum deposit requirement of $1,000. And even though their physical branches reside in the southeast, consumers can obtain the deposit products from around the country.
We know it’s hard for savers to get excited over rates so low, but when you deal with CD rates every day like we do, seeing 6 month to 1 year promotional CD rates still keeping their rates above 1.00% can get exciting.
Atlantic Coast Bank also has a promotional 15 month CD (as both traditional deposits and IRA deposits) which provides and APY of 1.25%.
If you’re looking for something with a little more in the way of interest rates, you may also want to scope out their “Kasasa Cash Checking Account.” It’s pumping out returns of 2.01% annually, but you’ll need to jump through a few hoops to get the advertised APY. For starters you’ll need to make 10 debit card transactions per month from the account. You’ll also have to set up a recurring direct deposit as well as sign up for e-statements.
As for the deposit promotions, Atlantic Coast Bank allows consumers to open them either online or by mail.