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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 $480 million in assets along with $431 million in deposits, classifying the institution 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 in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.7 out of 5 stars, Northeast Georgia Bank should be near the middle of the pack in your search for a bank. Northeast Georgia Bank offers a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product maintains a $5.00 monthly fee, which places it at the higher end of monthly fees. Locating an institution with no-fee checking, in addition to a high savings APY is the best bet for returning the highest income from your deposits while maintaining convenient 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

With a savings rate of 0.08%, Northeast Georgia Bank ranks poorly as compared against the national average. Its one-year CD earns at a rate of 0.60% and the five-year CD earns at a rate of 1.51%, while its highest-yielding money market account has an APY of 0.10%. Given Northeast Georgia Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

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 as compared against the national average. Its checking account has a monthly fee of $5.00, which makes it fair for anyone looking for a hassle-free account. Northeast Georgia Bank does not refund out-of-network ATM charges, which means you'll need to search for a Northeast Georgia Bank ATM or eat the cost of withdrawal.

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's online and mobile banking platforms receive great feedback from users. With 12 customer reviews on both iOS and Android platforms, the Northeast Georgia Bank mobile app rates a 4.8 out of 5 (compared to the national average of 3.8). Northeast Georgia Bank's mobile app allows you to control your finances by checking current statements, transferring funds and reaching customer service. Northeast Georgia Bank receives a superb consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 owning assets totaling $480 million as well as $431 million in deposits. Northeast Georgia Bank's Texas Ratio is 12.77%, signifying that the bank is in good financial shape and unlikely to fail. 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 Account 0.1% APY $2500

Northeast Georgia Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Northeast Georgia Bank does not have the best savings rate, which means you should think about looking elsewhere 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 as compared against the national average.

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Find a Northeast Georgia Bank Near Me

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

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