You are viewing rates across South Carolina
Below are the best one year CD Rates from banks in South Carolina. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.
SC - December 9, 2016
1 Year CD National Average : 0.38% ?
|Park Sterling Bank||1.00%||$10,000||-|
|Bank Of Walterboro||0.60%||$500||-|
|Anderson Brothers Bank||0.60%||$10,000||-|
|Palmetto State Bank||0.60%||$50,000||-|
|First Palmetto Bank||0.60%||$100,000||-|
|First South Bank||0.59%||$500||-|
|Coastal Carolina National Bank||0.55%||$1,000||-|
|Horry County State Bank||0.50%||$1,000||-|
|Spratt Savings And Loan Association||0.50%||$500||-|
|Bank Of Greeleyville||0.50%||$1,000||-|
|Cbc National Bank||0.45%||$1,000||-|
|Td Bank, National Association||0.45%||$100,000||-|
|The Conway National Bank||0.44%||$100,000||-|
|The Citizens Bank||0.40%||$1,000||-|
|Bank Of North Carolina||0.40%||$100,000||-|
|Oconee Federal Savings And Loan Association||0.40%||$500||-|
|Palmetto Heritage Bank & Trust||0.40%||$1,000||-|
|Bank Of Travelers Rest||0.40%||$100,000||-|
|Woodruff Federal Savings And Loan Association||0.40%||$1,000||-|
|Park Sterling Bank||0.35%||$1,000||-|
|Palmetto State Bank||0.35%||$5,000||-|
|The Bank Of Clarendon||0.35%||$1,000||-|
|First Palmetto Bank||0.35%||$300||-|
|The Peoples Bank||0.35%||$500||-|
|Carolina Premier Bank||0.35%||$1,000||-|
|The Conway National Bank||0.34%||$500||-|
|Carolina Bank & Trust Co.||0.31%||$1,000||-|
|The Bank Of South Carolina||0.30%||$1,000||-|
|Td Bank, National Association||0.30%||$10,000||-|
|Fsnb, National Association||0.30%||$500||-|
|Blue Ridge Bank||0.30%||$1,000||-|
|Bank Of Travelers Rest||0.30%||$1,000||-|
|The Commercial Bank||0.30%||$500||-|
|Bank Of North Carolina||0.30%||$10,000||-|
|Southern First Bank||0.30%||$100,000||-|
|Security Federal Bank||0.30%||$500||-|
|Carolina Alliance Bank||0.30%||$1,000||-|
|Arthur State Bank||0.25%||$500||-|
|Pee Dee Federal Savings Bank||0.25%||$500||-|
|Heritage Community Bank||0.25%||$500||-|
|Independence National Bank||0.25%||$500||-|
|Community First Bank, Inc.||0.25%||$500||-|
|First Community Bank||0.25%||$500||-|
|Georgia Bank & Trust Company Of Augusta||0.25%||$500||-|
|South Atlantic Bank||0.25%||$500||-|
|Mutual Savings Bank||0.20%||$20,000||-|
|First National Bank Of South Carolina||0.20%||$500||-|
|Southern First Bank||0.20%||$1,000||-|
|Bank Of The Ozarks||0.18%||$1,000||-|
|Pnc Bank, National Association||0.17%||$100,000||-|
|Mutual Savings Bank||0.15%||$10,000||-|
|Bank Of York||0.15%||$500||-|
|Pickens Savings And Loan Association, Fa||0.15%||$500||-|
|Enterprise Bank Of South Carolina||0.15%||$500||-|
|Farmers And Merchants Bank Of South Carolina||0.15%||$500||-|
|Woodforest National Bank||0.15%||$500||-|
|Pnc Bank, National Association||0.13%||$10,000||-|
|United Community Bank||0.10%||$500||-|
|First Tennessee Bank, National Association||0.10%||$10,000||-|
|South State Bank||0.10%||$1||-|
|Branch Banking And Trust Company||0.10%||$10,000||-|
|Clover Community Bank||0.10%||$1,000||-|
|First-citizens Bank & Trust Company||0.10%||$10,000||-|
|Bank Of America, National Association||0.07%||$10,000||-|
|Wells Fargo Bank, National Association||0.05%||$10,000||-|
|Bank Of America, National Association||0.05%||$10,000||-|
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A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.
The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.
Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.
Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.
The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.
Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.
When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, you visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
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