Bank of Madison CD Rates
Bank of Madison is primarily designed to facilitate the financial saving needs of the business authorities.
Through the provided CD rate terms, the consumers held the authenticated approach on the deposit return and tended to enhance the productive growth throughout.
Bank of Madison CD Rate Offers
To be eligible for CD rates in Georgia you must live, work, worship, or go to school within the service area of the bank. Open a bank account with a top-rated financial institution in Georgia by visiting a branch in person. Most banks also have an online portal for applying for membership, or you can call to speak with a banker.
Important and most crucial CD terms are;
12-Month CD
Features
- APY: 1.16%
- Minimum Deposit to Open Account: $500
- Minimum Balance to Obtain APY: $500
Considerations
- A one-year commitment with moderate interest rates.
- Good for those looking for a short-term investment with a slightly better yield.
Pros & Cons
| Pros | Cons |
| Moderate interest rates | Still a short-term commitment |
| Moderate minimum deposit | Limited liquidity compared to short-term CDs |
24-Month CD
Features
- APY: 1.16%
- Minimum Deposit to Open Account: $500
- Minimum Balance to Obtain APY: $500
Considerations
- A two-year commitment with a modest increase in interest rates.
- Suitable for those looking for a longer-term investment with a bit higher yield.
Pros & Cons
| Pros | Cons |
| A bit higher interest rates | Moderate commitment period |
| Low minimum deposit |
36-Month CD
Features
- APY: 1.26%
- Minimum Deposit to Open Account: $500
- Minimum Balance to Obtain APY: $500
Considerations
- A three-year commitment with competitive interest rates.
- Suitable for those willing to commit to a longer-term investment for a better return.
Pros & Cons
| Pros | Cons |
| Competitive interest rates | Longer commitment period |
| Moderate minimum deposit | Limited liquidity compared to short-term CDs |
48-Month CD
Features
- APY: 1.36%
- Minimum Deposit to Open Account: $500
- Minimum Balance to Obtain APY: $500
Considerations
- A four-year commitment with a slightly higher interest rate.
- Offers a balance between mid and long-term investments.
Pros & Cons
60-Month CD
| Pros | Cons |
| Slightly higher interest rates | Too long to proceed |
60-month CD
Features
- APY: 1.36%
- Minimum Deposit to Open Account: $500
- Minimum Balance to Obtain APY: $500
Considerations
- Long-term commitment with a significantly higher interest rate.
- Suitable for those seeking a higher return and are comfortable with a more extended lock-in period.
Pros & Cons
| Pros | Cons |
| Deposit Incentives Apply | Limitation of liquidity |
Are Bank of Madison CD Rates Competitive?
The competitiveness of Bank of Madison CD rates depends on the specific terms. For instance, the 12-month and 60-month CDs stand out with higher interest rates, presenting a more competitive option for those willing to commit to either a mid-term or long-term investment.
It’s essential to assess the term that aligns with your financial goals to determine the competitiveness of Bank of Madison CD rates for your specific needs.
How do Bank of Madison CD Rates Compare?
When comparing Bank of Madison CD rates, it’s evident that the institution provides a range of options to cater to different investment preferences.
The shorter-term CDs offer quicker access to funds but come with lower interest rates, suitable for those prioritizing liquidity. In contrast, the 12-month and 60-month CDs boast higher interest rates, providing a competitive edge for individuals seeking better returns and willing to commit to a mid-term or long-term investment.
Furthermore, evaluating the rates in the context of your financial objectives and time horizon will help determine how Bank of Madison CD rates stack up against your specific requirements.
Overview Bank Bank of Madison
Bank of Madison’s terms are available for flexible and versatile ranges. They have limited information online about the CD terms and rates available, which means that to get the best CD rate you will need to visit a branch in person.
Bank of Madison in Georgia has four main bank branches: two in Madison, GA, one in Social Circle, GA, and one in Greensboro, Georgia. They are a traditional bank with a focus on commerce and industry development. Their history and philosophy as a bank is one of hard work, determination, and perseverance. They get to know each of their members on a personal level and provide financial literacy consulting to lead their members toward success.
They are a full-service bank meaning that they provide comprehensive financial products including saving, checking, lending, and investment. The bank was founded in Madison, GA in 1888 and has been operating for over a hundred years.
Locations Bank of Madison
Banks in Georgia
Bank Of Madison, Loyal Trust Bank, Community Bank Of Georgia, The Trust Bank, Family Bank, Hyperion Bank, First State Bank, Embassy National Bank, Tandem Bank, Touchmark National Bank, South Coast Bank & Trust, Promise One Bank, Georgia’s Own Credit Union, Atlanta Postal Credit Union, Delta Community Credit Union.
FAQs
The minimum deposit to open a Bank of Madison CD is $500.00.
The interest rate for the 12-month CD is 1.16%.
Yes, there may be a penalty for early withdrawal from a 36-month CD.
Yes, Bank of Madison CDs have fixed interest rates for the entire duration of the chosen term.
Yes, you can open a Bank of Madison CD online. You simply have to make sure that you meet the minimum deposit requirement and complete the necessary online application process.