Dedicated to Deposits: Deals, Data, and Discussion

3.50% 12-Month CD at First National Bank of the South in South Carolina - Local Only

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First National Bank of the South is offering a special 3.50% APY 12-month CD. Minimum deposit is $500, and the maximum is $100,000. New money is required. It doesn't seem to be listed at the bank's website. A reader emailed me info on this, and I just called the bank for additional details. According to the CSR, it's scheduled to last through March (last day on Tuesday 3/31/09).

It's only available at the bank's Spartanburg branches, and a branch visit is required. I was told that you don't have to be a local resident to open the CD at the branch. Be sure to call the bank to confirm before planning a long trip. The bank also has branches in Charleston, Greenville, Columbia and Rock City, South Carolina.

Update 3/28/09: A reader noted being told that this CD has a maximum deposit of $250,000 and is available at all of their branches. I recommend contacting the bank for the latest info since CSRs are often misinformed and bank policies can change quickly.

The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 2000 (FDIC Certificate # 35383).

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  Tags: South Carolina, First National Bank of the South, CD rates

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Comments
2 Comments.
Comment #1 by Anonymous posted on
Anonymous
CD is available at all of the branches, and is NOT limited to 100,000, but 250,000

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. I've updated the post.

1