South Carolina money market accounts. Who offers the best rates?

September 7, 2009 No Comments »

Below are the highest yielding money market account rates serving citizens of the state of South Carolina.

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of South Carolina, we have found that in most instances you will be able to lock in more competitive rates with national institutions rather than local ones. Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market accounts.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 money market account rates in South Carolina:

(click on the institution for more information)

  • Atlantic Bank and Trust: Charleston, SC. Money market account yielding 2.0% APY with a minimum balance of $10,000. You are entitled to 6 free withdrawals per month, 3 of which can be check. You will incur a fee for each additional withdrawal. Interest is compounded daily and applied to your account monthly. You may also be interested in their “Platinum Checking Account” which is also yielding 2.0% APY but with only a $5,000 minimum deposit. Also, this account comes with online banking options and free ATM usage. Atlantic Bank and Trust has three locations throughout South Carolina. These locations occupy Charleston, Myrtle Beach, Savannah. Contact: (843) 723-2337
  • Anderson Federal Credit Union: Easly, SC. Money market account yielding 1.76% APY with a minimum deposit of $10,000. You are allowed six withdrawals per month, 3 which can be make through personal check. Anderson Federal Credit Union is a not-for-profit, member-owned financial institution. They have three branches which are all located in Anderson, South Carolina. Contact: (864) 225-1254

Both of the above institutions are federally insured by either the FDIC or NCUA. If you live in South Carolina and know of a better money market rate offered through your local institution, please share by leaving a comment.

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