5.50% 48-Month CD at a South Carolina Bank Continues (Arthur State)

Arthur State Bank is still offering a 5.50% APY 48-month certificate of deposit. The minimum deposit is $500. They also have a 14-month CD special with a yield of 4.76% APY. Since the rate table had a September date and this 5.50% CD has been listed since February, I called their toll-free number at 888-825-2265 and made sure these rates are still available. I was told there's no compounding during the year so the rate is the same as the yield. You can choose to have the interest paid monthly. The early withdrawal penalty for terms over one year is 6 months of interest.

Based on their account application form (available at this page), it looked like the CD could be opened by mail for those in South Carolina. However, the customer service rep told me that you would have to come into a branch to open an account. Branches are located in the South Carolina cities of Union, Spartanburg, Greenville, Chesnee, Clinton, Woodruff, Roebuck, Rock Hill, Columbia and Anderson. The bank is FDIC insured (Certificate # 15085).

Tags: South Carolina, CD rates, Arthur State Bank