Best CD (certificate of deposit) rates in South Carolina (Top 3)

July 29, 2009 No Comments »

Below are the top 3 CD rates available to residents in the state of South Carolina. Some of the banks and credit unions below serve a regional area, so you may want to compare these rates with the best CD rates in North Carolina or the best CD rates in Georgia to obtain the highest yields.

Some of the institutions listed below have strict eligibility requirements (esp. credit unions) so you may want to contact a representative directly to see if you are eligible. However, even if you do not live in South Carolina you may be able to take advantage of the products but it will most likely depend on your living situation (ie where you work, live, worship, attend school, etc).

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top 3 CD rates (South Carolina):

(clicking on the institution will bring you to their rates page)

Southeast Federal Credit Union: Ware Shoals, SC. 12 month CD yielding 2.75% APY with a minimum deposit amount of $500. You can also obtain this rate (2.75% APY) on a 9 month through 18 month deposit. Credit Union membership is open to all employees, their family members and retirees of any company within Southeast Federal CU’s chartered field of membership. Membership is also open to anyone related to a primary member. Once you join the credit union you may remain a member for life, as long as the minimum balance is maintained, regardless of where you work or live.

Enterprise Bank of South Carolina: Walterboro, SC. 27 month CD yielding 3.75% APY with a minimum deposit amount of $500. This is a limited time promotional offer by Enterprise and is subject to change without notice. Enterprise Bank was established in 1920 and now offers 12 locations throughout the state of South Carolina. To take advantage of this promotional offer you must stop in to one of their local branches for an application. If you reside in SC, then you should have no problem.

Coastal Carolina National Bank: Myrtle Beach, SC. 12 month CD yielding 2.50% APY with a minimum deposit amount of $1,000. This is a promotional offer as well and is subject to change at anytime. They also have a promotional money market account with an intro-rate period of 2.50% APY as well. Coastal Carolina highlights a “switch-kit” on their website which (they claim) makes transferring over to their institution fairly easy. You will still need to stop by one of their locations to complete the transaction.

All the institutions mentioned above are federally insured by the FDIC or NCUA and your deposits are guarenteed up to $250k. If you live in South Carolina and know of a better CD rate offered by your local institution please share by leaving a comment.

Keep in mind deposit rates are time-sensitive in nature.
Compare with today’s top CD rates nationwide below:

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