Dedicated to Deposits: Deals, Data, and Discussion

4.05% 5-Month CD Available Online for NC, SC, GA and FL Residents (First Federal)


First Federal is offering a special 4.05% APY 5-month CD. The minimum deposit is $1,000. The maximum online deposit if funded via checking or savings account transfer is $75,000. It can be opened online or in a branch. The start of the online application states:
Currently we are servicing North Carolina, South Carolina, Georgia, and Florida for all products except for Health Savings Accounts. Health Savings Accounts are available for all states.

The bank also offers a reward checking account. It currently pays 4.01% APY on balances up to $25,000. Like the CD it's available online for NC, SC, GA and FL residents (see post).

Branches are located in several cities of South Carolina including the cities of Charleston, Hilton Head, Florence, and Myrtle Beach. There's also a branch in Sunset Beach, North Carolina.

The bank has some solid financial ratings for soundness: 4 stars (sound) at and 4 stars (excellent) at BauerFinancial. Both are based on 6/30/08 data. The bank has been FDIC insured since 1934 (Certificate # 28994).

Thanks to the reader who mentioned this special CD in the finding deals post.

  Tags: South Carolina, Georgia, North Carolina, CD rates, Florida

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Comment #1 by Anonymous posted on
I've had the rewards account for a year now and have no problem drawing 4.01% monthly.

They do claim they do soft inquiries on your credit but 3 of my credit bureaus show as a hard inquiry--transunion states "hard inquiry". When questioned about this they then state that it's not the same inquiry as when you see a loan at the bank.

Just be aware. The good thing is they don't drop rates fast unlike BOA DOW account that went from 3.82% to 2.82 in 4 days.

Comment #2 by Anonymous posted on
First National Bank in S.C. is offering 5.0% 5 month CD. They do claim to do a Chexsystem inquiry when purchasing the CD.

They are a bank I've been with for 5 years. This is the first decent offering I've seen them make. Don't know how long this will last.

I have a tiny amount of stock in this bank.