High-Yield Reward Checking Account at Southern Bank & Trust in SC - Local Only


Update 12/16/2010: The top rate has fallen from 4.01% APY to 2.51% APY.

Southern Bank & Trust is offering a high-yield reward checking account called Impact Checking. The account offers the following rates and features if certain monthly requirements are met. The rates are listed in the bank's microwebsite as of 12/15/2010.

  • 2.51% APY on balances up to $25,000
  • 0.60% APY on portion of balance over $25,000
  • 0.10% base rate if requirements are not met
  • Unlimited nationwide ATM refunds

Monthly requirements include:

  • 10 debit card purchases
  • One automatic deposit or payment to or from your account or one monthly Bill Pay transaction
  • Receive e-statements

Other features of the account include:

  • $50 initial minimum deposit
  • No monthly service charges
  • No minimum balance requirement

It appears that a branch visit is required to open an account. It's a small bank with three branches located Aikens and North Augusta, South Carolina.

The bank's ratings for safety and soundness are above average: 3½ stars (good) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 2006 (FDIC Certificate # 58327).

Other High-Yield Reward Checking Accounts

Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.

Rate History:

  • 12/15/10: 2.51% APY up to $25K; 0.60% over; 0.10% base
  • 04/28/10: 4.01% APY up to $25K; 1.01% over; 0.10% base