Superb short-term deposit rates from North Georgia Bank

March 24, 2009 No Comments »

North Georgia Bank CD RatesNorth Georgia Bank out of Watkinsville, Georgia, currently has a few noteworthy “special certificate of deposit rates” for shorter term deposits.

If you are in the market for CD’s then you probably know that the current rates are less than impressive. This is why some believe shorter term deposits (ie 3 – 18 months) are optimal maturity times. This puts you in a position where your idle cash can still earn interest (hopefully beating inflation) while allowing you the flexibility to move your funds into more lucrative investments if they happen to present themselves in the near term. This is why we are covering the short term deposit specials offered by North Georgia Bank.

North Georgia Bank CD rates

Rates effective as of 3/20/2009 and are subject to change.

3 month certificate and IRA yielding 2.50% APY

6 month certificate and IRA yielding  2.50% APY

12 month certificate and IRA yielding 3.0% APY

18 month certificate and IRA yielding 3.0% APY

These CD rates can be applied to your IRA account as well which means that you can invest “tax free.” To learn more about applying certificates of deposit to your IRA account, visit

Who is Eligible?

If you reside in the state of Georgia or have relatives living in this state and banking through North Georgia Bank you may be eligible to join. Contact a representative for more information on eligibility or compare these rates with the top bank deals in Georgia from our archives.

Our Take:

While it is hard to get excited about these rates, they are still better than today’s national averages and even a tiny bit better than the top rates offered from online banks. We would recommend locking in a long term deposit now that rates are experiencing a free fall. The FED has gone on record stating that they are aiming to keep key rates between 0.25 and 0.50%  for the coming years while we dig ourselves out of this recession. This means that savings and deposit rates will suffer proportionately, while loan rates reap the benefits.

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