Finding the best CD rates in Georgia can be a great start if you’re trying to grow your wealth. Many banks offer great CD rates and benefits to help you grow your wealth.
Knowing the best CD rates in Georgia, the requirements to get them, and what you can expect can help you make smart financial decisions.
Best CD Rates in Georgia
Check out the list of the best rates and everything you must know about deposit requirements, withdrawal limits, and penalties.
- Forbright Bank: 5.65% APY
- Valley Direct: 5.60% APY
- Sallie Mae: 5.40% APY
- Blue Federal Credit Union: 5.25% APY
- Quontic: 5.05% APY
- Georgia’s Own Credit Union: 5.00% APY
- Discover® Bank: 5.00% APY
- CIT Bank: 5.00% APY
- First Tech: 4.91% APY
1. Forbright Bank 
- Minimum Deposit: $1,000
- APY: 3.00% to 5.65%
- Terms: 12 to 60 months
Forbright Bank offers the best CD rates in Georgia on 12-month CDs. If you have a short-term goal that allows you to tie up funds for a year, you can grow your wealth and reach your goals faster. They also offer other terms, but the rates are lower at 3% for all remaining terms.
It takes one to two business days to open and activate your CD, and you can fund it via ACH transfer or linking an external account if your bank doesn’t support the Plaid transfer service.
Be careful; Forbright Bank charges three months of interest for early withdrawals on CDs 24 months or shorter and six months of interest on CDs longer than 24 months.
Pros:
- High APY on 12-month terms
- Short and long-term CDs available
- No monthly fees
Cons:
- High early withdrawal penalties
- Average rates on terms other than the 12-month term
2. Valley Direct 
- Minimum Deposit: $500
- APY: 4.60% – 5.60%
- Terms: 12 to 36 months
Valley Direct offers fixed and variable-rate CDs to help Georgia residents save money. Fixed CDs have the same rate for the entire term; variable CDs change with the market. The Valley Direct variable CD rates stay 0.1% higher than the Federal Funds Target Rate Upper Limit to help you beat inflation.
If you want a fixed-rate CD, they offer 12 and 24-month options and only require a $500 deposit. However, there are penalties to withdraw funds early, so only take the 24-month CD if you can afford to keep the funds invested.
Pros:
- High APYs on all terms
- Fixed and variable rate options
- Low barrier to entry
Cons:
- Only three CD options
- Early withdrawal penalties
3. Sallie Mae 
- Minimum Deposit: $1
- APY: 4.70% – 5.10% APY
- Terms: 10 to 14 months
Sallie Mae offers some of the best CD rates in Georgia on short-term CDs. They offer fixed-rate and no-penalty CDs for those who worry they’ll need access to the funds sooner than the expiration date. The short-term CDs make it easy to grow your money without committing to a long-term investment.
The no-penalty CDs have slightly lower APYs but are still high compared to most traditional banks, allowing you peace of mind and the chance to earn interest. All CDs at Sallie Mae are FDIC-insured to protect your funds.
Pros:
- Fixed and no-penalty options
- Low barrier to entry
- High APYs
Cons:
- Only short-term options
- High APYs only on fixed-rate, not no-penalty CDs
4. Blue Federal Credit Union 
- Minimum Deposit: $1
- APY: 5.00% – 5.25%
- Terms: 9 to 15 months
Credit unions offer a great way to earn high interest rates on your CDs, and Blue Federal Credit Union is no exception. The nice thing is anyone can become a member by donating to Blue Foundation. Once a member, you can invest in their CDs with as little as $1.
Blue Federal Credit Union offers members options for a fixed-rate or no-penalty CD. The no-penalty CDs have a short term of 9 months, but you can access the funds whenever needed without penalty after 30 days. Your funds must remain in the fixed-rate CDs for the term, or you risk paying a penalty.
Pros:
- All terms have high APYs
- Low barrier to entry
- No-penalty CD option
Cons:
- Only short-term CDs are available
- You must join the credit union
Open a CD with Blue Federal Credit Union
5. Quontic 
- Minimum Deposit: $500
- APY: 4.30% – 5.30%
- Terms: 6 months to 5 years
Quontic is a digital bank that offers CDs to anyone with at least $500 to deposit. The online bank offers many services and great customer service, including access to human support as needed.
Quontic offers high APYs on all terms, including those as long as five years, which is uncommon among most banks.
Quontic CDs automatically renew; however, they offer a 10-day grace period after renewal. If you change your mind, you can withdraw the funds without a penalty. However, if you miss your window, you’ll pay a penalty to access the funds early.
Pros:
- FDIC-insured accounts
- Interest compounds daily
- Short and long-term options
Cons:
- No physical branches
- Penalty for early withdrawals
6. Georgia’s Own Credit Union 
- Minimum Deposit: $500
- APY: 2.97% to 5.00%
- Terms: 6 months to 4 years
Georgia’s Own Credit Union offers some of the best CD rates in Georgia. They offer traditional fixed-rate and bump-up CDs for 22 or 44 months. The 22-month CD allows one rate bump-up, and the 44-month CD offers two rate bump-ups.
Georgia’s Own Credit Union has 200,000+ members and offers many ways to join, including living or working in one of many Georgia counties. You can own CDs in a traditional account or IRA, but only fixed-rate CDs, not bump-up rates for IRAs.
Pros:
- Short and long-term CDs available
- Low minimum deposit
- Bump-up options
Cons:
- Must belong to a credit union
- The best rates are on a 1-year CD
Open a CD with Georgia’s Own Credit Union
7. Discover® Bank 
- Minimum Deposit: $2,500
- APY: 2.00% – 4.70% APY
- Terms: 3 months to 10 years
If you love online banks and want the best CD rates in Georgia, check out Discover® Bank. They offer a wide range of maturity dates, from three months to ten years. They compound interest daily and are FDIC-insured.
However, one thing to watch out for with Discover® Bank is the early withdrawal penalties, as they are hefty. The longer your CD term, the higher the penalty. Ensure you can meet the maturity requirements without withdrawing early.
If you aren’t sure, choose a shorter term and renew the CD upon maturity if you still don’t need the funds. Discover® Bank pays its best rates on the 12-month CD.
Pros:
- Many terms available
- No monthly fees
- Upfront about early withdrawal penalties
Cons:
- High barrier to entry
- High early withdrawal fees
8. CIT Bank 
- Minimum Deposit: $1,000 unless you want a jumbo CD, then $100,000
- APY: 0.30% – 5.00%
- Terms: 6 months to 5 years
When looking for the best CD rates in Georgia, consider the type of CD you want. CIT Bank offers the largest variety of CDs, including no-penalty and RampUp CDs (for existing customers).
They also have a jumbo CD option, but the rates are low, and you may find better places to invest your funds.
The fixed-rate CDs offer the best rates and no monthly maintenance fees. Interest compounds daily on the CDs, and the best rates are available on a short 6-month CD, making it easy to avoid early withdrawal penalties while earning decent interest.
Pros:
- Large selection of terms
- Has a no-penalty option with an 11-month term
- No monthly fees
Cons:
- Some APYs are low
- Somewhat high deposit requirements
9. First Tech 
- Minimum Deposit: $500
- APY: 2.25% – 5.35%
- Terms: 6 to 60 months
Whether you want fixed-rate CDs or a bump-up option, First Tech has you covered. Their bump-up CD currently has a promotional rate of 5.35%, or you can choose their fixed-rate CDs with rates from 2.25% to 4.91%.
First Tech is a credit union, so you must become a member, but the deposit requirements are low, and the terms all have attractive APYs.
Pros:
- High promotional rate available
- Many terms available
- FDIC insured
Cons:
- Low APYs on certain terms
- You must join the credit union
Summary of the Best CD Rates in Georgia
| Company | APY | Minimum Deposit Requirement | Compounding Frequency |
| Forbright Bank | 3.00% to 5.65% | $1,000 | Daily |
| Valley Direct | 4.6% to 5.6% | $500 | Daily |
| Sallie Mae | 4.7% to 5.4% | $1 | Daily |
| Blue Federal Credit Union | 5% to 5.25%
|
$1 | Daily |
| Quontic | 4.3% to 5.05%
|
$500 | Daily |
| Georgia’s Own Credit Union | 2.97% to 5%
|
$500 | Quarterly |
| Discover® Bank | 2% to 5%
|
$2,500 | Daily |
| CIT Bank | 0.3% to 5%
|
$1,000 | Daily |
| First Tech | 2.25% to 4.91%
|
$500 | Daily |
Learn More:
Types of CDs Available in Georgia
When looking for the best CD rates in Georgia, consider the available types. Fixed-rate CDs are the most common, but other options exist.
Short-Term CDs in Georgia
Short-term CDs are for short-term goals, usually less than 12 months. These CDs often have the best rates and are what banks promote the most. Most banks on our list include great rates for short-term CDs, but some have high rates for longer terms.
If you choose a short-term CD, you don’t have to worry as much about early withdrawal penalties.
If the CD expires and you don’t need the funds yet, you can let the CD automatically renew or look around for another CD with an even higher APY if rates increased when your money was in the CD.
Long-Term CDs in Georgia
Long-term CDs in Georgia are for longer-term goals. The rates are sometimes lower than short-term CDs, but they provide a safe place to invest your funds so you don’t spend the money or risk it in the stock market.
Long-term CDs often have terms of two to five years and high early withdrawal penalties, so ensure you won’t need the funds before investing in this type of CD.
For example, your emergency fund doesn’t belong in a long-term CD because you cannot predict when emergency funds are needed.
Liquid CDs in Georgia
Liquid CDs eliminate the risk of penalties for early withdrawal. However, they have lower interest rates to compensate for the benefit of early access to the funds.
Before investing in a no-penalty CD, read the bank’s fine print. Many have rules regarding when to access the funds, such as 7 to 30 days after opening the account.
If you aren’t sure if and when you’ll need the funds, a no-penalty CD is a good option. You lose a little interest but have the peace of mind that you can access the funds as needed.
Step Up/Bump Up CDs in Georgia
If you worry about increasing rates and being unable to take advantage, look for step-up or bump-up CDs in Georgia.
These CDs allow you to increase the rate according to the market rates, usually once throughout the term. Some banks allow multiple bump-ups, but they are for longer-term CDs.
It’s usually up to you to request the bump-up; most banks won’t automatically increase your rates. Again, read the bank’s fine print to determine what they offer.
Add-on CDs in Georgia
If you want to keep adding to your CD balance, look for add-on CDs. They are much less common than the other types but allow regular contributions to your CD balance, which helps your money grow faster.
Our Methodology
The BankBonus team has reviewed dozens of brick-and-mortar banks, online banks, credit unions, and fintech companies offering CD accounts in Georgia.
To provide you with accurate recommendations for the best CD rates in Georgia, we used the metrics below to assess each account:
- APY: First and foremost, we evaluate CD offers based on how competitive their APY is
- Compounding schedule: Another major factor we consider is the account’s compounding schedule, prioritizing banks that compound interest daily rather than monthly or quarterly
- CD terms: We also consider the variety of CD term lengths each financial institution offers
- Account minimum: Additionally, we look at each CD’s minimum opening deposit requirements and any ongoing account minimums
- User experience: We carefully consider the ease of applying and managing CD accounts on each bank’s website and factor in reviews of the mobile app from the App Store and Google Play Store
- Customer service: In our review process, we also explore each institution’s customer service channels, hours of availability, and third-party reviews
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