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First National Bank of the South

3.00% 12-Month CD at First National Bank of the South in SC - Local Only


First National Bank of the South is offering another hot CD special. The rate is 3.00% APY with terms of 12, 13 and 15 months. Minimum deposit is $5,000, and the maximum is $250,000. 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. The CSR did not know how much longer it would last.

I was told that a branch visit is required to open this special CD. It should be available at all of their branches which are located in Charleston, Greenville, Columbia, Rock City and Spartanburg, South Carolina.

I last posted on this bank in March 2008 when they were offering a 3.50% 12-month CD. Since then their rating for safety and soundness has gone down from 2 stars to 1 star (lowest) at Bankrate.com. The rating continues to be 2 stars (problematic) at BauerFinancial. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 2000 (FDIC Certificate # 35383).

Thanks to the reader who emailed me news of this CD special.

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Anonymous   |     |   Comment #1
The website has a fill-in application form, but not sure if they have true online account-opening. Notwithstanding what CSR told Banking Guy about branch visit, would be interested in any update or experience re: remote account opening. TIA.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
When I first asked the CSR about their CD rates, the CSR quoted me lower rates which appeared to be their standard CD rates (2.10% APY for 12 months). After I asked some more questions, the CSR mentioned the special CD. The online application may apply to these standard rates rather than the special CD.