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Northeast Georgia Bank Review

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Northeast Georgia Bank Savings
0.08% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1934, Northeast Georgia Bank has assets totaling $480 million as well as deposits totaling $431 million, ranking it as a medium-size bank. Northeast Georgia Bank, whose headquarters are in Lavonia, Georgia, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated Northeast Georgia Bank 3.7 stars out of 5, indicating that it is an acceptable bank choice, but may leave you wanting more. Northeast Georgia Bank provides customers with a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Northeast Georgia Bank has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a $5.00 monthly fee, making it a rather pricey bank for checking. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best bet for getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.1
SmartAsset Average: 3.5

Northeast Georgia Bank features a savings rate of 0.08%, which is poor as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.60% and 1.51%, respectively, while its highest-yielding money market account has a rate of 0.10%. Given Northeast Georgia Bank's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How Northeast Georgia Bank's Savings Rates Compare

Northeast Georgia Bank Savings 0.08 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

Northeast Georgia Bank has generally high fees in comparison to the national average. At $5.00 per month, Northeast Georgia Bank is not ideal for people who want a basic checking account. Northeast Georgia Bank doesn't refund out-of-network ATM charges, meaning you will need to search for a Northeast Georgia Bank ATM or accept the withdrawal fee.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.4
SmartAsset Average: 3.7

Northeast Georgia Bank is a brick-and-mortar bank, with 12 total bank locations in Georgia. It also offers access to mobile and web apps for straightforward access and banking on the go. Northeast Georgia Bank receives high marks from customers for its online presence. The Northeast Georgia Bank mobile app scored a 4.8 out of 5 (out of 12 reviews on Apple and Android) compared to the national average of 3.8. Northeast Georgia Bank's mobile app allows you to control your accounts by looking at current statements, sending and receiving money and accessing customer service. Northeast Georgia Bank receives an exceptional consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.4
SmartAsset Average: 4.8

Northeast Georgia Bank ranks as a medium-size bank with assets totaling $480 million as well as $431 million in deposits. Northeast Georgia Bank has a strong Texas Ratio of 12.77%, suggesting a small chance of failure. Additionally, Northeast Georgia Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

12.77%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Northeast Georgia Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.08% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.00% APY
  • 60 Month: 1.51% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

Northeast Georgia Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Northeast Georgia Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Northeast Georgia Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Northeast Georgia Bank Near Me

Northeast Georgia Bank has 12 locations across the U.S.

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