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Certificates of Deposit

CERTIFICATE OF DEPOSIT- 3 MONTH

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 3 Months. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
  • Time Account Information: Your account will mature in 3 Months. If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date to withdraw funds without penalty.

CERTIFICATE OF DEPOSIT- 6 MONTH

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 6 months. Interest begins to accrue on the business day you deposit noncash items (for example, checks). The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. 
  • Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account.
  • Time Account Information: Your account will mature in 6 months. If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date to withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term.

CERTIFICATE OF DEPOSIT-1 YEAR

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 1 year. Interest begins to accrue on the business day you deposit noncash items (for example, checks). The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce eamings.
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
  • Time Account Information: Your account will mature in 1 year.  If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for the period of time as the original term.

CERTIFICATE OF DEPOSIT- 2 YEAR

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 2 years. Interest begins to accrue on the business day you deposit noncash items (for example, checks). The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
  • Time Account Information: Your account will mature in 2 years. If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date to withdraw funds without penalty.

CERTIFICATE OF DEPOSIT-5 YEAR

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 5 years. Interest begins to accrue on the business day you deposit noncash items (for example, checks). The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
  • Time Account Information: Your account will mature in 5 years. If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date to withdraw funds without penalty.

CERTIFICATE OF DEPOSIT-IRA 2 YEAR

 

  • Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 2 years. Interest begins to accrue on the business day you deposit noncash items (for example, checks). The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
  • Limitations: You must deposit $500.00 to open this account. Please check IRS Guidelines for maximum amount that may be deposited. You may not make withdrawals from your account until the maturity date.
  • Time Account Information: Your account will mature in 2 years. If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months accrued interest. This account will automatically renew. You will have to renew at the new rate in effect at maturity or you will have 10 days after the maturity date to withdraw funds without penalty.

 

CDARS

 

CDARS is the Certificate of Deposit Account Registry Services. And it's the easiest, most convenient way to enjoy access to FDIC insurance on deposit amounts larger than $250,000.*

            Benefits:  

  • One Bank: Everything is handled directly through South Carolina Community Bank.
  • One Rate: You earn one rate per maturity on your entire investment.  This interest rate is determined when you open up your CDARS service.
  • No Fees: You pay no annual fees, subscription fees, or transaction fees for using the CDARS service; the rate you see is the rate you get.
  • A Wide Variety of Maturities.  Seven maturities are available through CDARS: 4 weeks.  You can choose the terms that best suit your investment needs.

      FOR MORE INFORMATION, CONTACT US AT 803-733-8100.  

 

    *Limits apply.  Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us.  The agreement contains important information and conditiions regarding the placement of funds by us.    

South Carolina Community Bank
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FDIC

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