First Federal Savings of Valdosta, Georgia, Savings Rates & Money Market Rates

First Federal Savings of Valdosta, Georgia, is offering several different savings rates and tiered money market rates. While First Federal Savings interest rates are competitive but the bank's rates are not the best savings rates or best money market rates available.

First Federal Savings' highest savings account rates are on the bank's statement savings account and Christmas Club savings account. Today's savings account rates on both accounts are at 0.45 percent with an APY of 0.45 percent. The minimum opening deposit for a Christmas Club account is $10 and the minimum opening balances for a statement savings account is $100.

First Federal Savings' current savings rates are at 0.45 percent which is more than 7 times the Federal Deposit Insurance Corporation's current national average of 0.08 percent. In fact First Federal Savings' bank savings rates are also above the FDIC's jumbo savings rates average of 0.08 percent.

First Federal Savings' Health Savings Account (HSA) has a current rate of 0.15 percent with an APY of 0.15 percent. This bank's health savings rate is almost double the national average savings rate but you definitely can get a higher savings rate on for an HSA. The best savings account rates on our national rate list are at 1.04 percent with an APY of 1.05 percent.

First Federal Savings' money market rates are also well above the national average money market rate this week but there are higher money market rates available. Money market account rates are tiered and based on the deposit account. Of course the best money market rates are on the highest balance accounts. Current money market account balances of $25,000 or more earn a money market rate of 0.65 percent with an APY of 0.65 percent.

The lowest money market account balance, $1,000 to $9,999, earns a rate of 0.50 percent with an APY of 0.50 percent. Money market account balances of $10,000 to $24,999 earn a rate of 0.60 percent with an APY of 0.60 percent.

The FDIC's national average money market account rate for account balances of less than $100,000 is 0.12 percent. Current jumbo money market rates in the FDIC survey this week are at 0.18 percent. So you can see this bank's rates are better than the averages. The highest money market account rates on our national rate list are above 1.00 percent.
Author: Lisa Graham
October 1st, 2012